Report NEP-MAC-2017-07-02

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:

• Yoshihiko Hogen & Ko Miura & Koji Takahashi, 2017. "Large Firm Dynamics and Secular Stagnation: Evidence from Japan and the U.S," Bank of Japan Working Paper Series 17-E-8, Bank of Japan.
• Carrillo Julio A. & Mendoza Enrique G. & Nuguer Victoria & Roldán-Peña Jessica, 2017. "Tight Money-Tight Credit: Coordination Failure in the Conduct of Monetary and Financial Policies," Working Papers 2017-10, Banco de México.
• Eckhard Hein, 2017. "Stagnation policy in the Eurozone and economic policy alternatives: A Steindlian/neo-Kaleckian perspective," Working Papers 10/17, Sapienza University of Rome, DISS.
• Flaschel, Peter & Charpe, Matthieu & Galanis, Giorgos & Proaño Acosta, Christian & Veneziani, Roberto, 2017. "Macroeconomic and stock market interactions with endogenous aggregate sentiment dynamics," BERG Working Paper Series 125, Bamberg University, Bamberg Economic Research Group.
• Hilary Patroba, 2017. "The welfare cost of macro-prudential policy in a two-country DSGE model," Working Papers 682, Economic Research Southern Africa.
• Jonas E. Arias & Guido Ascari & Nicola Branzoli & Efrem Castelnuovo, 2017. "Positive Trend Inflation And Determinacy In A Medium-Sized New Keynesian Model," Working Papers 17-16, Federal Reserve Bank of Philadelphia.
• John G. Fernald & Robert E. Hall & James H. Stock & Mark W. Watson, 2017. "The Disappointing Recovery of Output after 2009," NBER Working Papers 23543, National Bureau of Economic Research, Inc.
• Dahem, Ahlem & Skander, Slim & Fatma, Siala Guermazi, 2017. "Time Varying VAR Analysis for Disaggregated Exchange Rate Pass-through in Tunisia," MPRA Paper 79759, University Library of Munich, Germany, revised 2017.
• Lorenza Rossi & Emilio Zanetti Chini, 2017. "Firms' Dynamics and Business Cycle: New Disaggregated Data," DEM Working Papers Series 141, University of Pavia, Department of Economics and Management.
• Nathan S. Balke & Enrique Martínez García & Zheng Zeng, 2017. "Understanding the Aggregate Effects of Credit Frictions and Uncertainty," Globalization Institute Working Papers 317, Federal Reserve Bank of Dallas.
• Bofinger, Peter & Ries, Mathias, 2017. "Excess saving and low interest rates: Theory and empirical evidence," CEPR Discussion Papers 12111, C.E.P.R. Discussion Papers.
• Tyrefors, Björn & Lindgren, Erik & Pettersson-Lidbom, Per, 2017. "The Political Economics of Growth, Labor Control and Coercion: Evidence from a Suffrage Reform," Working Paper Series 1172, Research Institute of Industrial Economics, revised 24 Sep 2019.
• Tyrefors Hinnerich, Bjorn & Lindgren, Erik & Pettersson-Lidbom, Per, 2017. "Political Power, Resistance to Technological Change and Economic Development: Evidence from the 19th century Sweden," Research Papers in Economics 2017:5, Stockholm University, Department of Economics.
• Mark A. Wynne & Ren Zhang, 2017. "Estimating the Natural Rate of Interest in an Open Economy," Globalization Institute Working Papers 316, Federal Reserve Bank of Dallas.
• Mark Setterfield, 2017. "Modern (American) Capitalism: A Three Act Tragedy," Working Papers 1722, New School for Social Research, Department of Economics.
• Jeff Fuhrer, 2017. "Japanese and U.S. Inflation Dynamics in the 21st Century," IMES Discussion Paper Series 17-E-05, Institute for Monetary and Economic Studies, Bank of Japan.
• Łukasz Rawdanowicz & Mohamed Hammouch & Makoto Kasai, 2017. "The fall in real long-term government bond yields: Disentangling different drivers," OECD Economics Department Working Papers 1398, OECD Publishing.
• Mark A. Wynne & Ren Zhang, 2017. "Measuring the World Natural Rate of Interest," Globalization Institute Working Papers 315, Federal Reserve Bank of Dallas.
• Burda, Michael & Almosova, Anna & Voigts, Simon, 2017. "Social Security Contributions and the Business Cycle," CEPR Discussion Papers 12096, C.E.P.R. Discussion Papers.
• Masazumi Hattori & James Yetman, 2017. "The evolution of inflation expectations in Japan," BIS Working Papers 647, Bank for International Settlements.
• Nittai K. Bergman & Rajkamal Iyer & Richard T. Thakor, 2017. "The Effect of Cash Injections: Evidence from the 1980s Farm Debt Crisis," NBER Working Papers 23546, National Bureau of Economic Research, Inc.
• Paolo Piacentini, 2017. "Functional “reversal” and dimensional “decoupling” of “finance” and “the real economy”: a reflection on the “Kaleckian” and “Minskian” limits to over-financialization," Working Papers 7/17, Sapienza University of Rome, DISS.
• Greg Kaplan & Benjamin Moll & Giovanni L. Violante, 2017. "Monetary Policy According to HANK," IMES Discussion Paper Series 17-E-04, Institute for Monetary and Economic Studies, Bank of Japan.
• Scott Schuh, 2017. "Measuring consumer expenditures with payment diaries," Working Papers 17-2, Federal Reserve Bank of Boston.
• Bagus, Philipp & Howden, David, 2016. "Central Bank Balance Sheet Analysis," MPRA Paper 79801, University Library of Munich, Germany.
• Grimme, Christian, 2017. "Uncertainty and the Cost of Bank vs. Bond Finance," MPRA Paper 79852, University Library of Munich, Germany.
• Simionescu, Mihaela & Zimmermann, Klaus F., 2017. "Big Data and Unemployment Analysis," GLO Discussion Paper Series 81, Global Labor Organization (GLO).
• Yener Altunbas & Mahir Binici & Leonardo Gambacorta, 2017. "Macroprudential policy and bank risk," BIS Working Papers 646, Bank for International Settlements.
• Dirk Bezemer & Anna Samarina & Lu Zhang, 2017. "The shift in bank credit allocation: new data and new findings," DNB Working Papers 559, Netherlands Central Bank, Research Department.
• Hardach, Gerd, 2017. "Sparen in der "Nullzinsphase". Privatanleger und der Kapitalmarkt in Deutschland im Ersten Weltkrieg," IBF Paper Series 02-17, IBF – Institut für Bank- und Finanzgeschichte / Institute for Banking and Financial History, Frankfurt am Main.
• Capistrán Carlos & Chiquiar Daniel & Hernández Juan R., 2017. "Identifying Dornbusch's Exchange Rate Overshooting with Structural VECs: Evidence from Mexico," Working Papers 2017-11, Banco de México.
• Wataru Miyamoto & Thuy Lan Nguyen, 2017. "Understanding the Cross-Country Effects of US Technology Shocks," Staff Working Papers 17-23, Bank of Canada.
• Ron Berndsen & Ronald Heijmans, 2017. "Risk indicators for financial market infrastructure: from high frequency transaction data to a traffic light signal," DNB Working Papers 557, Netherlands Central Bank, Research Department.
• Fernando Garcia-Barragan & Guangling Dave Liu, 2017. "Welfare analysis of bank capital requirements with endogenous default," Working Papers 688, Economic Research Southern Africa.
• Martino, Ricci & Patrizio, Tirelli, 2017. "Subprime Mortgages and Banking in a DSGE Model," Working Papers 366, University of Milano-Bicocca, Department of Economics, revised 22 Jun 2017.
• Coenen, Günter & Ehrmann, Michael & Gaballo, Gaetano & Hoffmann, Peter & Nakov, Anton & Nardelli, Stefano & Persson, Eric & Strasser, Georg, 2017. "Communication of monetary policy in unconventional times," Working Paper Series 2080, European Central Bank.
• Dong Jin Lee & Minchul Shin & Boyuan Zhang & Molin Zhong, 2017. "Measuring International Uncertainty : The Case of Korea," Finance and Economics Discussion Series 2017-066, Board of Governors of the Federal Reserve System (U.S.).
• Monique Timmermans & Ronald Heijmans & Hennie Daniels, 2017. "Cyclical patterns in risk indicators based on financial market infrastructure transaction data," DNB Working Papers 558, Netherlands Central Bank, Research Department.
• Gambacorta, Leonardo & Agénor, Pierre-Richard & Kharroubi, Enisse & Lombardo, Giovanni & Pereira da Silva, Luiz A., 2017. "The International Dimensions of Macroprudential Policies," CEPR Discussion Papers 12108, C.E.P.R. Discussion Papers.
• Nikolaidi, Maria & Stockhammer, Engelbert, 2017. "Minsky models: a structured survey," Greenwich Papers in Political Economy 17448, University of Greenwich, Greenwich Political Economy Research Centre.
• Mathias Drehmann & Mikael Juselius & Anton Korinek, 2017. "Accounting for debt service: the painful legacy of credit booms," BIS Working Papers 645, Bank for International Settlements.
• Belke, Ansgar & Kronen, Dominik, 2017. "The impact of uncertainty on macro variables: An SVAR-based empirical analysis for EU countries," Ruhr Economic Papers 699, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
• Martina Hengge & Seton Leonard, 2017. "Factor Models for Non-Stationary Series: Estimates of Monthly U.S. GDP," IHEID Working Papers 13-2017, Economics Section, The Graduate Institute of International Studies.
• Mirdala, Rajmund & Kameník, Martin, 2017. "Effects of Fiscal Policy Shocks in CE3 Countries (TVAR Approach)," MPRA Paper 79918, University Library of Munich, Germany.
• Giorgio Canarella & Luis A. Gil-Alaña & Rangan Gupta & Stephen M. Miller, 2017. "Modeling U.S. Historical Time-Series Prices and Inflation Using Various Linear and Nonlinear Long-Memory Approaches," Working papers 2017-13, University of Connecticut, Department of Economics.
• Leo Krippner, 2017. "A comment on Wu and Xia (2016) from a macroeconomic perspective," CAMA Working Papers 2017-41, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
• Dimitrios Bakas & Georgios Chortareas & Georgios Magkonis, 2017. "Volatility and Growth: A not so straightforward relationship," Working Paper series 17-12, Rimini Centre for Economic Analysis.
• Jakub Growiec, 2017. "Factor-specific technology choice," NBP Working Papers 265, Narodowy Bank Polski.
• Francesco Ravazzolo & Joaquin Vespignani, 2017. "World steel production: A new monthly indicator of global real economic activity," CAMA Working Papers 2017-42, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
• Hein, Eckhard, 2017. "Financialisation and tendencies towards stagnation: The role of macroeconomic regime changes in the course of and after the financial and economic crisis 2007-9," IPE Working Papers 90/2017, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
• Yuichiro Matsumoto, 2017. "Product Market Competition and Financial Market Screening," Discussion Papers in Economics and Business 17-14, Osaka University, Graduate School of Economics.
• Mirdala, Rajmund, 2016. "Effects of Fiscal Policy Shocks in the Euro Area (Lessons Learned from Fiscal Consolidation)," MPRA Paper 79920, University Library of Munich, Germany.
• Mihnea Constantinescu & Povilas Lastauskas, 2017. "The Knotty Interplay Between Credit and Housing," Bank of Lithuania Working Paper Series 45, Bank of Lithuania.
• Gabriel Lee & Binh Nguyen Thanh & Johannes Strobel, 2017. "Effects of Macroeconomic Uncertainty and Labor Demand Shocks on the Housing Market," Working Papers 170, Bavarian Graduate Program in Economics (BGPE).
• Georgiadis, Georgios & Jančoková, Martina, 2017. "Financial globalisation, monetary policy spillovers and macro-modelling: tales from 1001 shocks," Working Paper Series 2082, European Central Bank.
• James B. Bullard, 2017. "The Path Forward for U.S. Monetary Policy : a presentation at Illinois Bankers Association Annual Conference, Nashville, Tenn. June 23, 2017," Speech 287, Federal Reserve Bank of St. Louis.
• Mehmet Balcilar & Shinhye Chang & Rangan Gupta & Stephen M. Miller, 2017. "The Relationship between the Inflation Rate and Inequality across U.S. States: A Semiparametric Approach," Working papers 2017-14, University of Connecticut, Department of Economics.
• Li, Cheng, 2017. "China’s Household Balance Sheet: Accounting Issues, Wealth Accumulation, and Risk Diagnosis," MPRA Paper 79838, University Library of Munich, Germany.
• Rangan Gupta & Chi Keung Marco Lau & Stephen M. Miller & Mark E. Wohar, 2017. "U.S. Fiscal Policy and Asset Prices: The Role of Partisan Conflict," Working papers 2017-10, University of Connecticut, Department of Economics.
• Olivier Blanchard & Pedro Portugal, 2017. "Boom, Slump, Sudden stops, Recovery, and Policy Options. Portugal and the Euro," GEE Papers 0072, Gabinete de Estratégia e Estudos, Ministério da Economia, revised Jun 2017.
• Shijaku, Gerti, 2017. "Bank Stability and Competition: Evidence from Albanian Banking Market," MPRA Paper 79891, University Library of Munich, Germany.
• Alfredo Marvão Pereira & Rui Manuel Pereira, 2017. "Infrastructure Investment, Labor Productivity, and International Competitiveness: The Case of Portugal," GEE Papers 0071, Gabinete de Estratégia e Estudos, Ministério da Economia, revised Jun 2017.
• Carine MEYIMDJUI, 2017. "Food Price Shocks and Government Expenditure Composition: Evidence from African Countries," Working Papers 201703, CERDI.
• Chen, Bai & Masih, Mansur, 2017. "Are the Islamic and conventional money markets really highly correlated ? MGARCH-DCC and Wavelet approaches," MPRA Paper 79886, University Library of Munich, Germany.
• Loriana Pelizzon & Matteo Sottocornola, 2016. "The Impact of the Monetary Policy Interventions on the Insurance Industry," EIOPA Financial Stability Report - Thematic Articles 8, EIOPA, Risks and Financial Stability Department.
• J. Christina Wang, 2017. "Banks' search for yield in the low interest rate environment: a tale of regulatory adaptation," Working Papers 17-3, Federal Reserve Bank of Boston.
• Simionescu, Mihaela, 2017. "Prediction intervals for inflation and unemployment rate in Romania. A Bayesian approach," GLO Discussion Paper Series 82, Global Labor Organization (GLO).
• Braun, Eduard & Howden, David, 2017. "The Rise and Fall of the Subsistence Fund as a Resource Constraint in Austrian Business Cycle Theory," MPRA Paper 79807, University Library of Munich, Germany.
• Dániel Baksa & István Kónya, 2017. "Interest premium and economic growth: the case of CEE," NBP Working Papers 266, Narodowy Bank Polski.
• Haliassos, Michael & Jansson, Thomas & Karabulut, Yigitcan, 2017. "Financial Literacy Externalities," CEPR Discussion Papers 12100, C.E.P.R. Discussion Papers.
• Bukvić, Rajko & Pavlović, Radica & Gajić, Aleksandar, 2017. "Static and Dynamic Indicators in the Analysis of Internal Sources of Companies’ Investments Financing," MPRA Paper 79810, University Library of Munich, Germany, revised 2017.
• Zubarev, Andrey (Зубарев, Андрей) & Polbin, Andrey (Полбин, Андрей), 2017. "Scenario Analysis of the Impact of Reducing the Export Duty on Oil on the Russian Economy within the Framework of the General Equilibrium Model [Сценарный Анализ Влияния На Российскую Экономику Сни," Working Papers 051734, Russian Presidential Academy of National Economy and Public Administration.
• Senra, Eva, 2017. "22 Years of inflation assessment and forecasting experience at the bulletin of EU & US inflation and macroeconomic analysis," DES - Working Papers. Statistics and Econometrics. WS 24678, Universidad Carlos III de Madrid. Departamento de Estadística.
• Petr Jakubik & Diana Zigraiova, 2016. "Updating the Long Term Rate in Time: A Possible Approach," EIOPA Financial Stability Report - Thematic Articles 9, EIOPA, Risks and Financial Stability Department.
• Lehmann-Hasemeyer, Sibylle & Streb, Jochen, 2017. "Does Social Security crowd out Private Savings? The Case of Bismarck’s System of Social Insurance," IBF Paper Series 06-17, IBF – Institut für Bank- und Finanzgeschichte / Institute for Banking and Financial History, Frankfurt am Main.
• Lambertini Luisa & Nuguer Victoria & Uysal Pinar, 2017. "Mortgage Default in an Estimated Model of the U.S. Housing Market," Working Papers 2017-06, Banco de México.
• Hugo Rodríguez Mendizábal, 2017. "Narrow Banking with Modern Depository Institutions: Is there a Reason to Panic?," Working Papers 955, Barcelona School of Economics.
• Howden, David, 2017. "The Interest Rate and the Length of Production: A Comment," MPRA Paper 79806, University Library of Munich, Germany.
• Carlos Medel, 2017. "Geopolitical Tensions, OPEC News, and Oil Price: A Granger Causality Analysis," Working Papers Central Bank of Chile 805, Central Bank of Chile.
• Laun, Tobias & Wallenius, Johanna, 2017. "Having It All? Employment, Earnings and Children," Working Paper Series 2017:6, Uppsala University, Department of Economics.
• Pinshi, Christian & Mukendi, Christian & Ndombe, Patrick, 2015. "Prévision du coefficient de la réserve obligatoire de la Banque centrale du Congo [Forecasting of the coefficient of the reserve requirement of the Central bank of Congo]," MPRA Paper 79769, University Library of Munich, Germany, revised May 2017.
• Isabelle Joumard & Peter Hoeller & Jean-Marc Fournier & Hermes Morgavi, 2017. "Public debt in India: Moving towards a prudent level?," OECD Economics Department Working Papers 1400, OECD Publishing.
• Victor Olkhov, 2017. "Non-Local Macroeconomic Transactions and Credits-Loans Surface-Like Waves," Papers 1706.07758, arXiv.org.
• Groneck, Max & Wallenius, Johanna, 2017. "It Sucks to Be Single! Marital Status and Redistribution of Social Security," SSE Working Paper Series in Economics 2017:1, Stockholm School of Economics.
• Lorenzo Pozzi & Barbara Sadaba, 2017. "Detecting Scapegoat Effects in the Relationship Between Exchange Rates and Macroeconomic Fundamentals," Staff Working Papers 17-22, Bank of Canada.
• Yang, Bill Huajian, 2017. "Smoothing Algorithms by Constrained Maximum Likelihood," MPRA Paper 79911, University Library of Munich, Germany.
• N. Berardi & P. Sevestre & J. Thébault, 2017. "The Determinants of Consumer Price Dispersion: Evidence from French Supermarkets," Working papers 632, Banque de France.
• Netsanet Haile & Jörn Altmann, 2017. "Evaluating Investments in Portability and Interoperability between Software Service Platforms," TEMEP Discussion Papers 2017136, Seoul National University; Technology Management, Economics, and Policy Program (TEMEP), revised May 2017.
• Sungyup Chung, 2017. "Age and Gender Group Differences in Employment Responses to Monetary Policy Shock in a Small Open Economy: The Case of Korea," Asia and the Pacific Policy Studies 201715, Crawford School of Public Policy, The Australian National University.
• Jannie Rossouw & Michael Ade & Tendai Gwatidzo, 2017. "Analysis of tax harmonisation in the SADC," Working Papers 684, Economic Research Southern Africa.
• Müge Adalet McGowan & Dan Andrews & Valentine Millot, 2017. "The Walking Dead?: Zombie Firms and Productivity Performance in OECD Countries," OECD Economics Department Working Papers 1372, OECD Publishing.
• SERGI BASCO & John P. Tang, 2017. "The Samurai Bond: Credit Supply And Economic Growth In Pre-War Japan," CEH Discussion Papers 05, Centre for Economic History, Research School of Economics, Australian National University.
• Ralf R. Meisenzahl, 2017. "Auto Financing During and After the Great Recession," FEDS Notes 2017-06-22-2, Board of Governors of the Federal Reserve System (U.S.).
• Chen, John-ren, 2017. "The effects of an increase of the energy price on macroeconomic activity: a comparative static approach," Center for Mathematical Economics Working Papers 35, Center for Mathematical Economics, Bielefeld University.
• Petr Jakubik & Dimitris Zafeiris, 2016. "Impact of Mergers and Acquisitions on European Insurers: Evidence from Equity Markets," EIOPA Financial Stability Report - Thematic Articles 7, EIOPA, Risks and Financial Stability Department.