Report NEP-MAC-2016-07-30

This is the archive for NEP-MAC, a report on new working papers in the area of Macroeconomics. Soumitra K Mallick issued this report. It is usually issued weekly.

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Other reports in NEP-MAC

The following items were announced in this report:

• Tunc, Cengiz & Kılınç, Mustafa, 2016. "The Asymmetric Effects of Monetary Policy on Economic Activity in Turkey," MPRA Paper 72688, University Library of Munich, Germany, revised 22 Jul 2016.
• Al-Jarhi, Mabid, 2015. "An Economic Theory of Islamic Finance Regulation," MPRA Paper 72689, University Library of Munich, Germany, revised 01 Mar 2016.
• Michael Hachula & Michele Piffer & Malte Rieth, 2016. "Unconventional Monetary Policy, Fiscal Side Effects and Euro Area (Im)balances," Discussion Papers of DIW Berlin 1596, DIW Berlin, German Institute for Economic Research.
• Reinder Haitsma & Deren Unalmis & Jakob de Haan, 2016. "The Impact of the ECB�s Conventional and Unconventional Monetary Policies on Stock Markets," Working Papers 1605, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• Reis, Ricardo, 2016. "QE in the future: the central bank's balancesheet in a fiscal crisis," LSE Research Online Documents on Economics 67210, London School of Economics and Political Science, LSE Library.
• Mirna Dumičić, 2015. "Financial Stability Indicators – the Case of Croatia," Working Papers 43, The Croatian National Bank, Croatia.
• Eric Jondeau & Michael Rockinger, 2016. "Forecasting Financial Returns with a Structural Macroeconomic Model," Swiss Finance Institute Research Paper Series 16-13, Swiss Finance Institute.
• Moon, Weh-Sol, 2016. "The Business Cycle with Nominal Contracts and Search Frictions," MPRA Paper 72666, University Library of Munich, Germany.
• Stephane Moyen & Nikolai Stähler & Fabian Winkler, 2016. "Optimal Unemployment Insurance and International Risk Sharing," Finance and Economics Discussion Series 2016-054, Board of Governors of the Federal Reserve System (U.S.).
• Chattopadhyay, Siddhartha & Sahu, Sohini & Jha, Saakshi, 2016. "Estimation of Unobserved Inflation Expectations in India using State-Space Model," MPRA Paper 72710, University Library of Munich, Germany.
• Philippe BACCHETTA & Kenza BENHIMA & Céline POILLY, 2014. "Corporate Cash and Employment," Swiss Finance Institute Research Paper Series 14-01, Swiss Finance Institute.
• Broer, Tobias & Öberg, Erik & Harbo Hansen, Niels-Jakob, 2016. "The New Keynesian Transmission Mechanism: A Heterogenous-Agent Perspective," CEPR Discussion Papers 11382, C.E.P.R. Discussion Papers.
• Eric JONDEAU & Amir KHALILZADEH, 2015. "Collateralization, Leverage, and Stressed Expected Loss," Swiss Finance Institute Research Paper Series 15-24, Swiss Finance Institute, revised Aug 2015.
• Philippon, Thomas & Midrigan, Virgiliu, 2016. "Household Leverage and the Recession," CEPR Discussion Papers 11407, C.E.P.R. Discussion Papers.
• Vuslat Us, 2016. "A Dynamic Approach to Analyzing the Effect of the Global Crisis on Non-Performing Loans : Evidence from the Turkish Banking Sector," Working Papers 1612, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• Sandro Claudio LERA & Didier SORNETTE, 2015. "Constrained Random Walk Models for Euro/Swiss Franc Exchange Rates: Theory and Empirics," Swiss Finance Institute Research Paper Series 15-33, Swiss Finance Institute.
• Suleyman Hilmi Kal & Ferhat Arslaner & Nuran Arslaner, 2015. "Sources of Asymmetry and Non-linearity in Pass-Through of Exchange Rate and Import Price to Consumer Price Inflation for the Turkish Economy during Inflation Targeting Regime," Working Papers 1530, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• Makoto Nakajima, 2016. "Assessing Bankruptcy Reform in a Model with Temptation and Equilibrium Default," Working Papers 16-21, Federal Reserve Bank of Philadelphia.
• Linde, Jesper & Lemoine, Matthieu, 2016. "Fiscal Consolidation Under Imperfect Credibility," CEPR Discussion Papers 11404, C.E.P.R. Discussion Papers.
• Annalisa Bucalossi & Antonio Scalia, 2016. "Leverage ratio, central bank operations and repo market," Questioni di Economia e Finanza (Occasional Papers) 347, Bank of Italy, Economic Research and International Relations Area.
• Jörn-Steffen Pischke, 2016. "Wage flexibility and employment fluctuations: evidence from the housing sector," CEP Discussion Papers dp1440, Centre for Economic Performance, LSE.
• James A. Giesecke & Peter B. Dixon & Maureen T. Rimmer, 2016. "The Economy-wide Impact of a Rise in Commercial Bank Capital Adequacy Ratios," Centre of Policy Studies/IMPACT Centre Working Papers g-261, Victoria University, Centre of Policy Studies/IMPACT Centre.
• Mirna Dumičić, 2015. "A Brief Introduction to the World of Macroprudential Policy," Surveys 18, The Croatian National Bank, Croatia.
• Brian Bolarinwa Ogundairo & Mauro Rodrigues, 2016. "Previdência e taxa de juros no Brasil," Working Papers, Department of Economics 2016_11, University of São Paulo (FEA-USP).
• de la Fonteijne, Marcel R., 2014. "The (F)Laws of Piketty’s Capitalism: A Fundamental Approach," MPRA Paper 72719, University Library of Munich, Germany.
• Juergen Jung & Chung Tran & Matthew Chambers, 2016. "Aging and Health Financing in the US:A General Equilibrium Analysis," ANU Working Papers in Economics and Econometrics 2016-641, Australian National University, College of Business and Economics, School of Economics.
• Venky Venkateswaran & Laura Veldkamp & Julian Kozlowski, 2016. "The Tail that Wags the Economy: Belief-Driven Business Cycles and Persistent Stagnation," 2016 Meeting Papers 245, Society for Economic Dynamics.
• Al-Jarhi, Mabid, 2016. "An economic theory of Islamic finance," MPRA Paper 72698, University Library of Munich, Germany.
• Yi Wen & Xiaochuan Xing & Patrick Pintus, 2016. "Interest Rate Dynamics, Variable-Rate Loans, and the Business Cycle," 2016 Meeting Papers 293, Society for Economic Dynamics.
• Aleksandar Vasilev, 2016. "Progressive taxation and (in)stability in an endogenous growth model with human capital accumulation," EERI Research Paper Series EERI RP 2016/18, Economics and Econometrics Research Institute (EERI), Brussels.
• Philippon, Thomas & Faria e castro, Miguel & Martinez, Joseba, 2016. "Runs versus Lemons: Information Disclosure and Fiscal Capacity," CEPR Discussion Papers 11408, C.E.P.R. Discussion Papers.
• Vasilev, Aleksandar, 2016. "Progressive taxation and (in)stability in an endogenous growth model with human capital accumulation: the case of Bulgaria," EconStor Preprints 144212, ZBW - Leibniz Information Centre for Economics.
• Dongho Song, 2016. "Bond Market Exposures to Macroeconomic and Monetary Policy Risks," Boston College Working Papers in Economics 915, Boston College Department of Economics, revised 19 Jul 2016.
• Nicolas Roys, 2016. "Persistence of Shocks and the Reallocation of Labor," Working Papers 2016-14, Federal Reserve Bank of St. Louis.
• Linde, Jesper & Smets, Frank & Wouters, Rafael, 2016. "Challenges for Central Banks' Macro Models," CEPR Discussion Papers 11405, C.E.P.R. Discussion Papers.
• Joshua C.C. Chan & Angelia L. Grant, 2016. "Reconciling output gaps: unobserved components model and Hodrick-Prescott filter," CAMA Working Papers 2016-44, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
• Dario Caldara & Michele Cavallo & Matteo Iacoviello, 2016. "Oil Price Elasticities and Oil Price Fluctuations," International Finance Discussion Papers 1173, Board of Governors of the Federal Reserve System (U.S.).
• Mahir Binici & Hakan Kara & Pinar Ozlu, 2016. "Faiz Koridoru ve Banka Faizleri : Parasal Aktarim Mekanizmasina Dair Bazi Bulgular," Working Papers 1608, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• Sandro Claudio LERA & Didier SORNETTE, 2015. "Nonparametric Empirical Evidence for Krugman's Target Zone Model," Swiss Finance Institute Research Paper Series 15-22, Swiss Finance Institute.
• Chrysa Leventi & Manos Matsaganis, 2016. "Estimating the distributional impact of the Greek crisis (2009-2014)," OECD Economics Department Working Papers 1312, OECD Publishing.
• Mirna Dumičić, 2014. "Financial Stress Indicators for Small, Open, Highly Euroised Countries – the Case of Croatia," Working Papers 41, The Croatian National Bank, Croatia.
• Sandro Claudio LERA & Didier SORNETTE, 2015. "Secular Bipolar Growth Rate of the Real US GDP Per Capita: Implications for Understanding Past and Future Economic Growth," Swiss Finance Institute Research Paper Series 15-62, Swiss Finance Institute.
• Jena, Pratap Ranjan & Bhadra, Kausik K. & Sikdar, Satadru, 2016. "Search for Resources in a High Income State: A Study of State Finances of Sikkim," Working Papers 16/170, National Institute of Public Finance and Policy.
• Guriev, Sergei & Speciale, Biagio & Tuccio, Michele, 2016. "How do regulated and unregulated labor markets respond to shocks? Evidence from immigrants during the Great Recession," CEPR Discussion Papers 11403, C.E.P.R. Discussion Papers.
• Bell, Peter N, 2015. "Effects of Long Cycles in Cash Flows on Present Value," MPRA Paper 72681, University Library of Munich, Germany.
• James B. Bullard, 2016. "A Tale of Two Narratives : a presentation at St. Louis Gateway Chapter of the National Association for Business Economics (NABE), July 12, 2016," Speech 272, Federal Reserve Bank of St. Louis.
• Gonul Sengul, 2016. "Search by Firms and Labor Market Policies," Working Papers 1607, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• Kurmas Akdogan & Neslihan Kaya Eksi & Ozan Eksi, 2016. "Cross-Border Capital Flows in Emerging Markets : Demand-Pull or Supply-Push?," Working Papers 1615, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• Kajal Lahiri & Yongchen Zhao, 2016. "Determinants of Consumer Sentiment over Business Cycles: Evidence from the U.S. Surveys of Consumers," Working Papers 2016-14, Towson University, Department of Economics, revised Jul 2016.
• Nataliya Klimenko & Sebastian Pfeil & Jean-Charles Rochet & Gianni De Nicolo, 2016. "Aggregate Bank Capital and Credit Dynamics," Swiss Finance Institute Research Paper Series 16-42, Swiss Finance Institute.
• Punnoose Jacob & Lenno Uuskula, 2016. "Deep habits and exchange rate pass-through," Bank of Estonia Working Papers wp2016-4, Bank of Estonia, revised 19 Jul 2016.
• Selen Baser Andic, 2016. "On Estimation of the Normalized CES Production Function for Turkey," Working Papers 1613, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• Tomas Havranek & Anna Sokolova, 2016. "Do Consumers Really Follow a Rule of Thumb? Three Thousand Estimates from 130 Studies Say “Probably Not”," Working Papers IES 2016/15, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Jul 2016.
• James B. Bullard, 2016. "A New Characterization of the U.S. Macroeconomic and Monetary Policy Outlook : a speech at the Society of Business Economists Annual Dinner, London, United Kingdom, June 30, 2016," Speech 271, Federal Reserve Bank of St. Louis.
• Randall Wright & Cathy Zhang & Guillaume Rocheteau, 2016. "Corporate Finance and Monetary Policy," 2016 Meeting Papers 97, Society for Economic Dynamics.
• Cristian PANA, 2015. "Direct Taxation in Romania: an Empirical Analysis," Economics of Sustainable Development.The Economic Impact of Climate Change. - Working papers 12, Ecological University of Bucharest, Department of Economics.
• Uddin, Md Akther, 2016. "Negative Interest Rate and Mudarabah Investment Deposits Rate: A Short Essay," MPRA Paper 72645, University Library of Munich, Germany.
• Ozan Eksi & Cuneyt Orman & Bedri Kamil Onur Tas, 2015. "Has the Forecasting Performance of the Federal Reserve�s Greenbooks Changed over Time?," Working Papers 1532, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• Georgescu, George, 2016. "Produsul intern brut. Istorie, relevanţă şi limitări în interpretare [The Gross Domestic Product. History, relevance and limitations in its interpretation]," MPRA Paper 72491, University Library of Munich, Germany.
• Ellen McGrattan, 2016. "Intangible Capital and Measured Productivity," 2016 Meeting Papers 62, Society for Economic Dynamics.
• Shapoval Alexander & Goncharenko Vasily, 2016. "A Response of the Economy to Changes in Employment Structure," EERC Working Paper Series 16/09e, EERC Research Network, Russia and CIS.
• Tugrul Gurgur & Zubeyir Kilinc, 2015. "In Search of the Drivers of the Turkish Consumer Confidence," Working Papers 1538, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• Mark A. Carlson & David C. Wheelock, 2016. "Near-Money Premiums, Monetary Policy, and the Integration of Money Markets : Lessons from Deregulation," Working Papers 2016-15, Federal Reserve Bank of St. Louis.
• Pawel Gajewski, 2016. "Sources of Regional Inflation in Poland," Lodz Economics Working Papers 5/2016, University of Lodz, Faculty of Economics and Sociology.
• Mustafa Utku Ozmen, 2016. "In Pursuit of Understanding Markups in Restaurant Services Prices," Working Papers 1602, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• Thomas Winberry & Joseph Vavra, 2016. "Investment, Price Changes, and Monetary Policy: Models and Micro Data," 2016 Meeting Papers 223, Society for Economic Dynamics.
• Mislav Brkić & Ana Šabić, 2014. "Framework for Monitoring Macroeconomic Imbalances in the European Union - Significance for Croatia," Surveys 17, The Croatian National Bank, Croatia.
• Ines CHAIEB & Vihang ERRUNZA & Rajna GIBSON BRANDON, 2014. "Integration of Sovereign Bonds Markets: Time Variation and Maturity Effects," Swiss Finance Institute Research Paper Series 14-47, Swiss Finance Institute.
• Binnur Balkan Konuk & Semih Tumen, 2016. "Immigration and Prices : Quasi-Experimental Evidence from Syrian Refugees in Turkey," Working Papers 1601, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• Pashchenko, Svetlana & Porapakkarm, Ponpoje, 2013. "Cross-subsidization in employer-based health insurance and the effects of tax subsidy reform," MPRA Paper 72671, University Library of Munich, Germany, revised 17 May 2016.
• Yavuz Arslan & Gazi Kabas & Ahmet Ali Taskin, 2015. "Quantifying the Effects of Loan-to-Value Restrictions: Evidence from Turkey," Working Papers 1535, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• Alex Clymo & Andrea Lanteri, 2016. "Fiscal Policy with Limited-Time Commitment," Tinbergen Institute Discussion Papers 16-056/VI, Tinbergen Institute.
• Philippe BACCHETTA & Ouarda MERROUCHE, 2015. "Countercyclical Foreign Currency Borrowing: Eurozone Firms in 2007-2009," Swiss Finance Institute Research Paper Series 15-63, Swiss Finance Institute.
• Luigi Iovino & Jennifer La'O & George-Marios Angeletos, 2016. "Efficiency and Policy with Endogenous Learning," 2016 Meeting Papers 229, Society for Economic Dynamics.
• Josip Tica & Tomislav Globan & Vladimir Arčabić, 2016. "Monetary Policy Effectiveness, Net Foreign Currency Exposure and Financial Globalisation," EFZG Working Papers Series 1603, Faculty of Economics and Business, University of Zagreb.
• Aart Gerritsen, 2016. "How Many Harberger Triangles Does it Take to Fill one Okun Gap?," Working Papers tax-mpg-rps-2016-05, Max Planck Institute for Tax Law and Public Finance.
• Philippon, Thomas, 2016. "The FinTech Opportunity," CEPR Discussion Papers 11409, C.E.P.R. Discussion Papers.
• Aart Gerritsen, 2016. "Equity and Efficiency in Rationed Labor Markets," Working Papers tax-mpg-rps-2016-04, Max Planck Institute for Tax Law and Public Finance.
• Mathieu Taschereau-Dumouchel & Edouard Schaal, 2016. "Coordination and the Dynamics of Unemployment," 2016 Meeting Papers 232, Society for Economic Dynamics.
• Mario V. Wuthrich, 2015. "Consistent Re-Calibration in Yield Curve Modeling: An Example," Swiss Finance Institute Research Paper Series 15-26, Swiss Finance Institute.
• Noh-Sun Kwark & Eunseong Ma, 2016. "Entrepreneurship and Income Distribution Dynamics: Why Are Top Income Earners Unaffected by Business Cycles?," Working Papers 1608, Nam Duck-Woo Economic Research Institute, Sogang University (Former Research Institute for Market Economy).
• Mustafa Bulut & Hatice Gokce Karasoy, 2016. "Para Politikasi Belirsizligi Altinda Aktarim Mekanizmasi : Turkiye ornegi," CBT Research Notes in Economics 1621, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• Tomislav Galac, 2015. "Microeconomic Aspects of the Impact of the Global Crisis on the Growth of Non-financial Corporations in the Republic of Croatia," Working Papers 44, The Croatian National Bank, Croatia.
• Ozgur Ozel & Mustafa Utku Ozmen & Erdal Yilmaz, 2015. "Importance of Foreign Ownership and Staggered Adjustment of Capital Outflows," Working Papers 1531, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• Belke, Ansgar & Dreger, Christian & Dubova, Irina, 2016. "On the exposure of the BRIC countries to global economic shocks," Ruhr Economic Papers 622, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
• Semyon MALAMUD, 2014. "Concavity of the Consumption Function with Recursive Preferences," Swiss Finance Institute Research Paper Series 14-37, Swiss Finance Institute.
• Patrice Ollivaud & Pierre-Alain Pionnier & Elena Rusticelli & Cyrille Schwellnus & Seung-Hee Koh, 2016. "Forecasting GDP during and after the Great Recession: A contest between small-scale bridge and large-scale dynamic factor models," OECD Economics Department Working Papers 1313, OECD Publishing.
• Steven C. BOURASSA & Martin HOESLI & Elias OIKARINEN, 2016. "Measuring House Price Bubbles," Swiss Finance Institute Research Paper Series 16-01, Swiss Finance Institute.
• Álvaro Pina, 2016. "Making public finances more growth and equity-friendly in the euro area," OECD Economics Department Working Papers 1316, OECD Publishing.
• Suen, Richard M. H., 2016. "Distributional Risk, Stochastic Volatility and Precautionary Savings," MPRA Paper 72732, University Library of Munich, Germany.
• Damir Filipović & Sander Willems, 2016. "Exact Smooth Term Structure Estimation," Swiss Finance Institute Research Paper Series 16-38, Swiss Finance Institute.
• Arvind KRISHNAMURTHY & Annette VISSING-JORGENSEN, 2015. "The Impact of Treasury Supply on Financial Sector Lending and Stability," Swiss Finance Institute Research Paper Series 15-46, Swiss Finance Institute.
• Julian Donaubauer & Christian Dreger, 2016. "The End of Cheap Labour: Are Foreign Investors Leaving China?," Discussion Papers of DIW Berlin 1598, DIW Berlin, German Institute for Economic Research.
• Anthony Diercks, 2016. "The Equity Premium, Long-Run Risk, and Optimal Monetary Policy," 2016 Meeting Papers 207, Society for Economic Dynamics.
• Pesheva, Milena & Vasilev, Aleksandar, 2016. "Endogenizing Total Factor Productivity: The Foreign Direct Investment channel in the case of Bulgaria (2004-2013)," EconStor Preprints 144163, ZBW - Leibniz Information Centre for Economics.
• Diego Ardila & Didier Sornette, 2016. "Dating the Financial Cycle: A Wavelet Proposition," Swiss Finance Institute Research Paper Series 16-29, Swiss Finance Institute, revised May 2016.
• Mahmut Gunay, 2015. ""I Just Ran Four Million Regressions" for Backcasting Turkish GDP Growth," Working Papers 1533, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• Yasin Kursat Onder, 2016. "Does Multiplicity of Equilibria Arise in the Eaton-Gersovitz Model of Sovereign Default?," Working Papers 1610, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• Nlemfu Mukoko, Jean Blaise, 2016. "Investissements Sociaux et Pauvreté en R.D.Congo: Une Approche en Équilibre Général [Social Investments and Poverty in the D.R.Congo : A General Equilibrium Approach]," MPRA Paper 72662, University Library of Munich, Germany.
• Serife Genc Ileri, 2015. "Selective Immigration Policy and Its Impacts on Natives: A General Equilibrium Analysis," Working Papers 1529, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• Andrea Morone & Simone Nuzzo, 2016. "Market Efficiency, Trading Institutions and Information Mirages: Evidence from an Experimental Asset Market," EERI Research Paper Series EERI RP 2016/17, Economics and Econometrics Research Institute (EERI), Brussels.
• Evren Erdogan Cosar, 2016. "Firmalar�n Sabit Sermaye Yatirim Kararlarinin Analizi : Turkiye Imalat Sanayine Dair Bulgular," Working Papers 1616, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.