Report NEP-MAC-2017-10-29

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:

• Luca Gambetti & Dimitris Korobilis & John D. Tsoukalas & Francesco Zanetti, 2017. "The Effect of News Shocks and Monetary Policy," BCAM Working Papers 1705, Birkbeck Centre for Applied Macroeconomics.
• Katja Gattin Turkalj & Igor Ljubaj, 2017. "CNB Transparency and Monetary Policy," Surveys 25, The Croatian National Bank, Croatia.
• Marco Bernardini & Selien De Schryder & Gert Peersman, 2017. "Heterogeneous Government Spending Multipliers in the Era Surrounding the Great Recession," CESifo Working Paper Series 6479, CESifo.
• Ali Ozdagli & Michael Weber & Michael Weber, 2017. "Monetary Policy through Production Networks: Evidence from the Stock Market," CESifo Working Paper Series 6486, CESifo.
• Ruediger Bachmann & Sebastian Rüth, 2017. "Systematic Monetary Policy and the Macroeconomic Effects of Shifts in Loan-to-Value Ratios," CESifo Working Paper Series 6458, CESifo.
• Benjamin Schwanebeck, 2017. "Unconventional Monetary Policy in a Financially Heterogeneous Monetary Union," MAGKS Papers on Economics 201741, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
• Chris Garbers & Guangling Liu, 2017. "Flow specific capital controls for emerging markets," Working Papers 12/2017, Stellenbosch University, Department of Economics.
• Christina D. Romer & David H. Romer, 2017. "Why Some Times Are Different: Macroeconomic Policy and the Aftermath of Financial Crises," NBER Working Papers 23931, National Bureau of Economic Research, Inc.
• Carlin, Wendy & Soskice, David, 2017. "Stagnant productivity and low unemployment: stuck in a Keynesian equilibrium," CEPR Discussion Papers 12369, C.E.P.R. Discussion Papers.
• Mackowiak, Bartosz & Corsetti, Giancarlo & Dedola, Luca & Schmidt, Sebastian & Jarocinski, Marek, 2017. "Macroeconomic Stabilization, Monetary-Fiscal Interactions, and Europe’s Monetary Union," CEPR Discussion Papers 12371, C.E.P.R. Discussion Papers.
• Athanasios Geromichalos & Lucas Herrenbrueck, 2017. "The Liquidity-Augmented Model of Macroeconomic Aggregates," Discussion Papers dp17-16, Department of Economics, Simon Fraser University.
• Balazs Egert & Peter Gal, 2017. "The Quantification of Structural Reforms in OECD Countries: A New Framework," CESifo Working Paper Series 6420, CESifo.
• Bachmann, Rüdiger & Bai, Jinhui & Lee, Minjoon & Zhang, Fudong, 2017. "The Welfare and Distributional Effects of Fiscal Volatility: a Quantitative Evaluation," CEPR Discussion Papers 12384, C.E.P.R. Discussion Papers.
• Kai Carstensen & Markus Heinrich & Magnus Reif & Maik H. Wolters, 2017. "Predicting Ordinary and Severe Recessions with a Three-State Markov-Switching Dynamic Factor Model. An Application to the German Business Cycle," CESifo Working Paper Series 6457, CESifo.
• Rannenberg, Ansgar, 2017. "The effect of fiscal policy and forward guidance with preferences over wealth," VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking 168070, Verein für Socialpolitik / German Economic Association.
• Jess Benhabib & Mark M. Spiegel, 2017. "Sentiments and Economic Activity: Evidence from U.S. States," NBER Working Papers 23899, National Bureau of Economic Research, Inc.
• Céspedes Reynaga, Nikita, 2017. "La demanda de crédito a nivel de personas: RCC conoce a ENAHO," Working Papers 2017-009, Banco Central de Reserva del Perú.
• Jean-Michel Grandmont, "undated". "Countercyclical Endogenous Uncertainty Shocks, Efficiency Wages and Procyclical Precautionary Labor Productivity," Working Papers 2017:25, Department of Economics, University of Venice "Ca' Foscari".
• Almut Balleer & Nikolay Hristov & Dominik Menno, 2017. "Financial Constraints and Nominal Price Rigidities," CESifo Working Paper Series 6309, CESifo.
• Marine Charlotte André & Meixing Dai, 2017. "Can inflation contract discipline central bankers when agents are learning?," Working Papers of BETA 2017-25, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
• Gregory Sutton & Dubravko Mihaljek & Agnė Subelytė, 2017. "Interest rates and house prices in the United States and around the world," BIS Working Papers 665, Bank for International Settlements.
• Lucas F. Husted & John H. Rogers & Bo Sun, 2017. "Monetary Policy Uncertainty," International Finance Discussion Papers 1215, Board of Governors of the Federal Reserve System (U.S.).
• Esu, Godwin & Atan, Johnson, 2017. "The Philip's Curve in Sub-Saharan Africa: Evidence from Panel Data Analysis," MPRA Paper 82112, University Library of Munich, Germany.
• Merkl, Christian & Stüber, Heiko, 2017. "Wage Cyclicalities and Labor Market Dynamics at the Establishment Level: Theory and Evidence," IZA Discussion Papers 11051, Institute of Labor Economics (IZA).
• Vogel, Lukas & Hohberger, Stefan & Priftis, Romanos, 2017. "The Macroeconomic Effects of Quantitative Easing in the Euro Area: Evidence from an Estimated DSGE Model," VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking 168060, Verein für Socialpolitik / German Economic Association.
• Nägele, Johannes, 2017. "Eine keynesianische Analyse der Beschäftigungswirkung einer Arbeitszeitverkürzung [A Keynesian analysis of the employment effects of a working time reduction]," MPRA Paper 82109, University Library of Munich, Germany.
• Joshua C C Chan & Yong Song, 2017. "Measuring inflation expectations uncertainty using high-frequency data," CAMA Working Papers 2017-61, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
• Daniel H. Cooper & María Jose Luengo-Prado & Jonathan A. Parker, 2017. "The local aggregate effects of minimum wage increases," Working Papers 17-8, Federal Reserve Bank of Boston.
• Farley Grubb, 2017. "The Paper Money of Colonial North Carolina, 1712-1774," Working Papers 17-01, University of Delaware, Department of Economics.
• Mario Forni & Luca Gambetti & Luca Sala, 2017. "News, Uncertainty and Economic Fluctuations (No News is Good News)," Center for Economic Research (RECent) 132, University of Modena and Reggio E., Dept. of Economics "Marco Biagi".
• Jonathan A. Parker & Nicholas S. Souleles, 2017. "Reported Effects vs. Revealed-Preference Estimates: Evidence from the propensity to spend tax rebates," NBER Working Papers 23920, National Bureau of Economic Research, Inc.
• Guglielmo Maria Caporale & Luis A. Gil-Alana, 2017. "Trends and Cycles in Macro Series: The Case of US Real GDP," Discussion Papers of DIW Berlin 1695, DIW Berlin, German Institute for Economic Research.
• Fusshoeller, Chantal & Balleer, Almut, 2017. "Migration and investment: a business cycle perspective," VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking 168125, Verein für Socialpolitik / German Economic Association.
• Ansgar Belke & Jens Klose, 2017. "Equilibrium Real Interest Rates and Secular Stagnation: An Empirical Analysis for Euro-Area Member Countries," ROME Working Papers 201712, ROME Network.
• T. Grjebine & U. Szczerbowicz & F. Tripier, 2017. "Corporate Debt Structure and Economic Recoveries," Working papers 646, Banque de France.
• Luis E. Arango & Javier Pantoja & Carlos Velásquez, 2017. "Effects of the central bank’s communications in Colombia. A content analysis," Borradores de Economia 1024, Banco de la Republica de Colombia.
• Ansgar Belke & Daniel Kronen, 2017. "The impact of uncertainty on macro variables - An SVAR-based empirical analysis for EU countries," ROME Working Papers 201711, ROME Network.
• Monica Hernandez, 2017. "An Unintended Consequence of Uncoordinated International Monetary Policy on Central America," Working Papers 1728, New School for Social Research, Department of Economics.
• Mariana Spatareanu & Vlad Manole & Ali Kabiri, 2016. "Bank Distress and Firm Performance during the Great Recession - Evidence from Ireland," Working Papers Rutgers University, Newark 2016-001, Department of Economics, Rutgers University, Newark.
• Pooyan Amir-Ahmadi & Thorsten Drautzburg, 2017. "Identification through Heterogeneity," CESifo Working Paper Series 6359, CESifo.
• Caballero, Julián & Fernández, Andrés, 2017. "On corporate borrowing, credit spreads and economic activity in emerging economies : An empirical investigation," Research Discussion Papers 31/2017, Bank of Finland.
• Maier, Carl G. & Marencak, Michal, 2017. "Uninformed buyers and market efficiency," VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking 168207, Verein für Socialpolitik / German Economic Association.
• Hudgins, David & Crowley, Patrick M., 2017. "Modelling a small open economy using a wavelet-based control model," Research Discussion Papers 32/2017, Bank of Finland.
• Malte Krüger, 2017. "Money and Credit: Lessons of the Irish bank strike of 1970," ROME Working Papers 201713, ROME Network.
• Dovern, Jonas & Zuber, Christopher, 2017. "The Effect of Recessions on Potential Output Estimates: Size, Timing, and Determinants," VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking 168180, Verein für Socialpolitik / German Economic Association.
• Philip Jung & Moritz Kuhn, 2017. "Earnings Losses and Labor Mobility Over the Life Cycle," CESifo Working Paper Series 6552, CESifo.
• SeHyoun Ahn & Greg Kaplan & Benjamin Moll & Thomas Winberry & Christian Wolf, 2017. "When Inequality Matters for Macro and Macro Matters for Inequality," CESifo Working Paper Series 6581, CESifo.
• Howard Kung & Gonzalo Morales & Alexandre Corhay, 2017. "Fiscal Discount Rates and Debt Maturity," 2017 Meeting Papers 840, Society for Economic Dynamics.
• Zhang, Xue & Poeschl, Johannes, 2017. "Bank Capital Regulation in a Model of Modern Banking Crises," VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking 168275, Verein für Socialpolitik / German Economic Association.
• Hills, Robert & Ho, Kelvin & Reinhardt, Dennis & Sowerbutts, Rhiannon & Wong, Eric & Wu, Gabriel, 2017. "The international transmission of monetary policy through financial centres: evidence from the United Kingdom and Hong Kong," Bank of England working papers 682, Bank of England.
• Farhi, Emmanuel & Tirole, Jean, 2017. "Shadow Banking and the Four Pillars of Traditional Financial Intermediation," CEPR Discussion Papers 12373, C.E.P.R. Discussion Papers.
• Friedrich Schneider, 2017. "Implausible Large Differences in the Sizes of Underground Economies in Highly Developed European Countries? A Comparison of Different Estimation Methods," CESifo Working Paper Series 6522, CESifo.
• Santanu Chatterjee & Olaf Posch & Dennis Wesselbaum, 2017. "Delays in Public Goods," CESifo Working Paper Series 6341, CESifo.
• Schnabel, Isabel & Brunnermeier, Markus & Rother, Simon, 2017. "Asset Price Bubbles and Systemic Risk," CEPR Discussion Papers 12362, C.E.P.R. Discussion Papers.
• Joachim Jungherr & Immo Schott, 2017. "Debt Dilution and Debt Overhang," Working Papers 997, Barcelona School of Economics.
• R. Barrell & D. Karim & Corrado Macchiarelli, 2017. "Towards an understanding of credit cycles: do all credit booms cause crises?," Working Paper series 17-28, Rimini Centre for Economic Analysis.
• Gechert, Sebastian & Paetz, Christoph & Villanueva, Paloma, 2017. "Top-Down vs. Bottom-Up? Reconciling the Effects of Tax and Transfer Shocks on Output," VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking 168204, Verein für Socialpolitik / German Economic Association.
• Raül Santaeulàlia-Llopis & Yu Zheng, 2017. "The Price of Growth: Consumption Insurance in China 1989-2009," Working Papers 995, Barcelona School of Economics.
• Francesco Caprioli & Marzia Romanelli & Pietro Tommasino, 2017. "Discretionary fiscal policy in the Euro area: past, present, future," Questioni di Economia e Finanza (Occasional Papers) 398, Bank of Italy, Economic Research and International Relations Area.
• Paul Whelan & Gyuri Venter & Andrea Vedolin & Matteo Leombroni, 2017. "Central Bank Communication and the Yield Curve," 2017 Meeting Papers 844, Society for Economic Dynamics.
• Ma, Zhixia, 2016. "Essays on business cycles with liquidity constraints and firm entry-exit dynamics under incomplete information," ISU General Staff Papers 201601010800006049, Iowa State University, Department of Economics.
• Garnadt, Niklas, 2017. "The increasing presence of large firms and its consequences for US startup rates," VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking 168091, Verein für Socialpolitik / German Economic Association.
• J. Liu & C.J.M. Kool, 2017. "Monetary dynamics in the euro area: a disaggregate panel approach," Working Papers 17-14, Utrecht School of Economics.
• Alina Mika & Robert Zymek, 2017. "Friends Without Benefits? New EMU Members and the "Euro Effect" on Trade," CESifo Working Paper Series 6308, CESifo.
• Konstantinos Angelopoulos & Andrea Benecchi & Jim Malley, 2017. "Can Subsidising Job-Related Training Reduce Inequality?," CESifo Working Paper Series 6605, CESifo.
• Gerlach, Stefan, 2017. "Long-run Money Demand in Switzerland," CEPR Discussion Papers 12356, C.E.P.R. Discussion Papers.
• Nakatani, Ryota, 2017. "Real and Financial Shocks, Exchange Rate Regimes and the Probability of a Currency Crisis," MPRA Paper 82186, University Library of Munich, Germany.
• Andreas Steiner & Sven Steinkamp & Frank Westermann, 2017. "Exit Strategies, Capital Flight and Speculative Attacks: Europe's Version of the Trilemma," IEER Working Papers 108, Institute of Empirical Economic Research, Osnabrueck University.
• De Nardi, Mariacristina & Pashchenko, Svetlana & Porapakkarm, Ponpoje, 2017. "The Lifetime Costs of Bad Health," CEPR Discussion Papers 12386, C.E.P.R. Discussion Papers.
• Céspedes Reynaga, Nikita, 2017. "La heterogeneidad de la dolarización de créditos a nivel de personas," Working Papers 2017-008, Banco Central de Reserva del Perú.
• Tetsuo Ono & Yuki Uchida, 2016. "Human Capital, Public Debt, and Economic Growth: A Political Economy Analysis," Discussion Papers in Economics and Business 16-01-Rev.3, Osaka University, Graduate School of Economics, revised Oct 2017.
• Dlugoszek, Grzegorz, 2017. "Solving DSGE Portfolio Choice Models with Asymmetric Countries," VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking 168182, Verein für Socialpolitik / German Economic Association.
• T. Terry Cheung & Theodore Palivos & Ping Wang & Yin-Chi Wang & Chong K. Yip, 2017. "Dynamic Trade, Endogenous Institutions and the Colonization of Hong Kong: A Staged Development Framework," NBER Working Papers 23937, National Bureau of Economic Research, Inc.
• Bacchetta, Philippe, 2017. "The Sovereign Money Initiative in Switzerland: An Economic Assessment," CEPR Discussion Papers 12349, C.E.P.R. Discussion Papers.
• Vladimir Asriyan & William Fuchs & Brett Green, 2017. "Liquidity Sentiments," Working Papers 993, Barcelona School of Economics.
• Bill Dupor & Guerrero Rodrigo, 2017. "The Aggregate and Relative Economic Effects of Government Financed Health Care," Working Papers 2017-27, Federal Reserve Bank of St. Louis.
• Niklas Potrafke, 2017. "Government Ideology and Economic Policy-Making in the United States," CESifo Working Paper Series 6444, CESifo.
• David Grigorian & Vlad Manole, 2016. "Sovereign risk and deposit dynamics:evidence from Europe," Working Papers Rutgers University, Newark 2016-003, Department of Economics, Rutgers University, Newark.
• von Weizsäcker, Carl Christian, 2017. "Leviathan-Zum Gewaltmonopol des Staates-Wider den Protektionismus," VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking 168219, Verein für Socialpolitik / German Economic Association.
• Isaac Sorkin, 2017. "Ranking Firms Using Revealed Preference," NBER Working Papers 23938, National Bureau of Economic Research, Inc.
• Marianna Kudlyak & Andreas Hornstein, 2017. "Estimating Matching Efficiency with Variable Search Effort," 2017 Meeting Papers 881, Society for Economic Dynamics.
• Cristina Conflitti & Matteo Luciani, 2017. "Oil Price Pass-Through into Core Inflation," FEDS Notes 2017-10-19-1, Board of Governors of the Federal Reserve System (U.S.).
• Andreas Schrimpf & Semyon Malamud, 2017. "Intermediation Markups and Monetary Policy Passthrough," 2017 Meeting Papers 812, Society for Economic Dynamics.
• Emmanuel Farhi & Jean Tirole, 2017. "Shadow Banking and the Four Pillars of Traditional Financial Intermediation," NBER Working Papers 23930, National Bureau of Economic Research, Inc.
• Eric Rosengren, 2017. "Making monetary policy: rules, benchmarks, guidelines, and discretion: remarks at the Federal Reserve Bank of Boston's 61st Economic Conference, Boston, Massachusetts, October 13, 2017," Speech 123, Federal Reserve Bank of Boston.
• Christina Christou & Rangan Gupta & Christis Hassapis & Tahir Suleman, 2017. "The Role of Economic Uncertainty in Forecasting Exchange Rate Returns and Realized Volatility: Evidence from Quantile Predictive Regressions," Working Papers 201774, University of Pretoria, Department of Economics.
• Davide Cantoni & Jeremiah Dittmar & Noam Yuchtman, 2017. "Religious Competition and Reallocation: The Political Economy of Secularization in the Protestant Reformation," NBER Working Papers 23934, National Bureau of Economic Research, Inc.
• Gene M. Grossman & Elhanan Helpman & Ezra Oberfield & Thomas Sampson, 2017. "The productivity slowdown and the declining labor share: a neoclassical exploration," CEP Discussion Papers dp1504, Centre for Economic Performance, LSE.
• Sergio Rebelo & Arlene Wong & Eric Anderson, 2017. "The Cyclicality of Gross Margins," 2017 Meeting Papers 899, Society for Economic Dynamics.
• Lael Brainard, 2017. "Rethinking Monetary Policy in a New Normal : a speech at the Panel on Monetary Policy \"Rethinking Macroeconomic Policy,\" a conference sponsored by the Peterson Institute for International ," Speech 977, Board of Governors of the Federal Reserve System (U.S.).
• Hazan, Moshe & Zoabi, Hosny & Weiss, David & Leukhina, Oksana & Bar, Michael, 2017. "Is The Market Pronatalist? Inequality, Differential Fertility, and Growth Revisited," CEPR Discussion Papers 12376, C.E.P.R. Discussion Papers.
• Leonard Nakamura & Jon Samuels & Rachel Soloveichik, 2017. "Measuring the Free Digital Economy within the GDP and Productivity Accounts," BEA Working Papers 0146, Bureau of Economic Analysis.
• Margarida Duarte & Diego Restuccia, 2017. "Relative Prices and Sectoral Productivity," Working Papers tecipa-591, University of Toronto, Department of Economics.