Report NEP-MAC-2018-09-10

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:

• Athanasios Orphanides, 2018. "The Boundaries of Central Bank Independence: Lessons from Unconventional Times," IMES Discussion Paper Series 18-E-10, Institute for Monetary and Economic Studies, Bank of Japan.
• Ivan Sutoris, 2018. "Asset Prices in a Production Economy with Long Run and Idiosyncratic Risk," CERGE-EI Working Papers wp620, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
• Joerg Bibow, 2018. "Twenty Years of the German Euro Are More than Enough," Economics Working Paper Archive wp_911, Levy Economics Institute.
• Dirk Niepelt, 2018. "Reserves for All? Central Bank Digital Currency, Deposits, and their (Non)-Equivalence," CESifo Working Paper Series 7176, CESifo.
• Markus Pasche, 2018. "Money as an Inflationary Phenomenon," Jena Economic Research Papers 2018-011, Friedrich-Schiller-University Jena.
• Diego Restuccia, 2018. "The Monetary and Fiscal History of Venezuela 1960-2016," Working Papers tecipa-614, University of Toronto, Department of Economics.
• Christopher J. Erceg & James Hebden & Michael T. Kiley & J. David López-Salido & Robert J. Tetlow, 2018. "Some Implications of Uncertainty and Misperception for Monetary Policy," Finance and Economics Discussion Series 2018-059, Board of Governors of the Federal Reserve System (U.S.).
• Ernesto Pasten & Raphael S. Schoenle & Michael Weber & Michael Weber, 2018. "Price Rigidity and the Origins af Aggregate Fluctuations," CESifo Working Paper Series 7190, CESifo.
• Tsutomu Watanabe & Tomoyoshi Yabu, 2018. "The Demand for Money at the Zero Interest Rate Bound," Working Papers on Central Bank Communication 002, University of Tokyo, Graduate School of Economics.
• Di Bella, Gabriel & Grigoli, Francesco & Ramírez, Francisco, 2018. "Is Unemployment on Steroids in Advanced Economies?," GLO Discussion Paper Series 243, Global Labor Organization (GLO).
• Alexander Chudik & Janet Koech & Mark A. Wynne, 2018. "The Heterogeneous Effects of Global and National Business Cycles on Employment in U.S. States and Metropolitan Areas," Globalization Institute Working Papers 343, Federal Reserve Bank of Dallas.
• Bruno Chiarini & Maria Ferrara & Elisabetta Marzano, 2018. "Credit Channel and Business Cycle: The Role of Tax Evasion," CESifo Working Paper Series 7169, CESifo.
• Giovanni Scarano, 2018. "From Long-Term Growth To Secular Stagnation. A Theoretical Comparison Between Régulation Theory, Marxist Approaches And Present Mainstream Interpretations," Departmental Working Papers of Economics - University 'Roma Tre' 0241, Department of Economics - University Roma Tre.
• Katarina Juselius & Sophia Dimelis, "undated". "The Greek crisis: A story of self-reinforcing feedback mechanisms," Discussion Papers 18-06, University of Copenhagen. Department of Economics.
• Manoel Bittencourt & Rangan Gupta & Philton Makena & Lardo Stander, 2018. "Socio-Political Instability and Growth Dynamics," Working Papers 201855, University of Pretoria, Department of Economics.
• Francis Bismans, 2018. "Is the South African economy likely to fall back into recession in 2018-2019?," Working Papers of BETA 2018-33, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
• Sanjay Singh, 2018. "Output Hysteresis and Optimal Monetary Policy," 2018 Meeting Papers 554, Society for Economic Dynamics.
• Giovanni Caggiano & Efrem Castelnuovo & Gabriela Nodari, 2018. "Risk Management-Driven Policy Rate Gap," CESifo Working Paper Series 7177, CESifo.
• Erhan Uluceviz & Kamil Yilmaz, 2018. "Measuring Real-Financial Connectedness in the U.S. Economy," Koç University-TUSIAD Economic Research Forum Working Papers 1812, Koc University-TUSIAD Economic Research Forum.
• SedlÃ¡Ä ek, Petr & Sterk, Vincent, 2018. "Reviving American Entrepreneurship? Tax Reform and Business Dynamism," CEPR Discussion Papers 13073, C.E.P.R. Discussion Papers.
• Thomas M. Mertens & John C. Williams, 2018. "What to expect from the lower bound on interest rates: evidence from derivatives prices," Staff Reports 865, Federal Reserve Bank of New York.
• Enrique Mendoza, 2016. "Macroprudential Policy: Promise and Challenges," PIER Working Paper Archive 16-020, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 24 Oct 2016.
• International Monetary Fund, 2018. "Arab Republic of Egypt; Third Review Under the Extended Arrangement Under the Extended Fund Facility, and Requests for a Waiver of Nonobservance of a Performance Criterion and for Modification of a Pe," IMF Staff Country Reports 18/213, International Monetary Fund.
• Aleksandar Vasilev, 2018. "A Business-cycle-model with a Modified Cash-in-advance Feature, Government Sector and Oneperiod Nominal Wage Contracts: The Case of Bulgaria," Bulgarian Economic Papers bep-2018-08, Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski - Bulgaria // Center for Economic Theories and Policies at Sofia University St Kliment Ohridski, revised Aug 2018.
• Tetsuo Ono, 2018. "Fiscal Rules in a Monetary Economy: Implications for Growth and Welfare," Discussion Papers in Economics and Business 18-27, Osaka University, Graduate School of Economics.
• Stephane Auray & Aurelien Eyquem & Paul Gomme, 2018. "Ramsey-optimal Tax Reforms and Real Exchange Rate Dynamics," Working Papers 18001, Concordia University, Department of Economics.
• International Monetary Fund, 2018. "Euro Area Policies; 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Member Countries," IMF Staff Country Reports 18/223, International Monetary Fund.
• Carlos Garriga & Aaron Hedlund, 2018. "Housing Finance, Boom-Bust Episodes, and Macroeconomic Fragility," 2018 Meeting Papers 354, Society for Economic Dynamics.
• Hasenzagl, Thomas & Pellegrino, Filippo & Reichlin, Lucrezia & Ricco, Giovanni, 2017. "A Model of the Fed’s View on Inflation," Economic Research Papers 269087, University of Warwick - Department of Economics.
• Reichlin, Pietro & Borri, Nicola, 2018. "Wealth Taxes and Inequality," CEPR Discussion Papers 13067, C.E.P.R. Discussion Papers.
• Qureshi, Irfan, 2016. "The Role of Money in Federal Reserve Policy," Economic Research Papers 269313, University of Warwick - Department of Economics.
• Filippo Ferroni, 2018. "Delphic and Odyssean monetary policy shocks: Evidence from the euro-area," 2018 Meeting Papers 60, Society for Economic Dynamics.
• MIYAKAWA Daisuke & OIKAWA Koki & UEDA Kozo, 2018. "Reallocation Effects of Monetary Policy," Discussion papers 18056, Research Institute of Economy, Trade and Industry (RIETI).
• International Monetary Fund, 2018. "Somalia; Second and Final Review Under the Staff Monitored Program and Request for a New Staff Monitored Program-Press Release and Staff Report," IMF Staff Country Reports 18/212, International Monetary Fund.
• Yuemei Ji, 2018. "Why is there so much Inertia in Inflation and Output? A Behavioral Explanation," CESifo Working Paper Series 7181, CESifo.
• International Monetary Fund, 2018. "Central African Republic; Fourth Review Under the Extended Credit Facility Arrangement, Requests for Waiver of Nonobservance of Performance Criterion, Modification of Performance Criteria, Augmentatio," IMF Staff Country Reports 18/214, International Monetary Fund.
• International Monetary Fund, 2018. "Senegal; Sixth Review Under the Policy Support Instrument-Press Release; Staff Report; and Statement by the Executive Director for Senegal," IMF Staff Country Reports 18/211, International Monetary Fund.
• Eleni Chatzivgeri & Haroon Mumtaz & Daniela Tavasci & Luigi Ventimiglia, 2018. "Common and country specific factors in the distribution of real wages," Working Papers 863, Queen Mary University of London, School of Economics and Finance.
• Bejamin Eden, 2018. "Real Interest Policy And The Housing Cycle," Vanderbilt University Department of Economics Working Papers 18-00006, Vanderbilt University Department of Economics.
• International Monetary Fund, 2018. "Guyana; 2018 Article IV Consultation-Press Release and Staff Report," IMF Staff Country Reports 18/220, International Monetary Fund.
• Kilian, Lutz & Zhou, Xiaoqing, 2018. "Structural Interpretation of Vector Autoregressions with Incomplete Information: Revisiting the Role of Oil Supply and Demand S," CEPR Discussion Papers 13068, C.E.P.R. Discussion Papers.
• Lutz Kilian & Xiaoqing Zhou, 2018. "Structural Interpretation of Vector Autoregressions with Incomplete Identification: Revisiting the Role of Oil Supply and Demand Shocks: Comment," CESifo Working Paper Series 7166, CESifo.
• Aizenman, Joshua & Jinjarak, Yothin & Nguyen, Hien Thi Kim & Park, Donghyun, 2018. "Fiscal space and government-spending & tax-rate cyclicality patterns: A cross-country comparison, 1960-2016," Working Paper Series 7656, Victoria University of Wellington, School of Economics and Finance.
• Elisabeth Falck & Mathias Hoffmann & Patrick Hürtgen, 2018. "Disagreement and Monetary Policy," 2018 Meeting Papers 655, Society for Economic Dynamics.
• Bayer, Christian & Luetticke, Ralph, 2018. "Solving heterogeneous agent models in discrete time with many idiosyncratic states by perturbation methods," CEPR Discussion Papers 13071, C.E.P.R. Discussion Papers.
• Marianna Epicoco, 2018. "Technological change and economic development: endogenous and exogenous fluctuations," Working Papers of BETA 2018-34, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
• Haroon Mumtaz, 2018. "Measuring the origins of macroeconomic uncertainty," Working Papers 864, Queen Mary University of London, School of Economics and Finance.
• Franses, Ph.H.B.F. & Wiemann, T., 2018. "Intertemporal Similarity of Economic Time Series," Econometric Institute Research Papers EI2018-30, Erasmus University Rotterdam, Erasmus School of Economics (ESE), Econometric Institute.
• Francesco Chiacchio & Grégory Claeys & Francesco Papadia, 2018. "Should we care about central bank profits?," Policy Contributions 27096, Bruegel.
• Tumala, Mohammed M & Olubusoye, Olusanya E & Yaaba, Baba N & Yaya, OlaOluwa S & Akanbi, Olawale B, 2017. "Investigating Predictors of Inflation in Nigeria: BMA and WALS Techniques," MPRA Paper 88773, University Library of Munich, Germany, revised Feb 2018.
• Céline Piton, 2018. "The unemployment impact of product and labour market regulation: Evidence from European countries," Working Paper Research 343, National Bank of Belgium.
• Tumala, Mohammed M & Olubusoye, Olusanya E & Yaaba, Baba N & Yaya, OlaOluwa S & Akanbi, Olawale B, 2017. "Forecasting Nigerian Inflation using Model Averaging methods: Modelling Frameworks to Central Banks," MPRA Paper 88754, University Library of Munich, Germany, revised Feb 2018.
• Qureshi, Irfan, 2017. "Monetary Policy Shifts and Central Bank Independence," Economic Research Papers 269096, University of Warwick - Department of Economics.
• Jess Diamond & Kota Watanabe & Tsutomu Watanabe, 2018. "The Formation of Consumer Inflation Expectations: New Evidence From Japan's Deflation Experience," Working Papers on Central Bank Communication 001, University of Tokyo, Graduate School of Economics.
• Jess Diamond & Kota Watanabe & Tsutomu Watanabe, 2018. "The Formation of Consumer Inflation Expectations: New Evidence From Japan's Deflation Experience," CARF F-Series CARF-F-442, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
• Fernando Martin, 2018. "The Value of Constraints on Discretionary Government Policy," 2018 Meeting Papers 267, Society for Economic Dynamics.
• Bora Durdu & Molin Zhong, 2018. "Macroeconomic implications of shadow banks: A DSGE analysis," 2018 Meeting Papers 482, Society for Economic Dynamics.
• Serdar Birinci & Kurt Gerrard See, 2018. "How Should Unemployment Insurance vary over the Business Cycle?," 2018 Meeting Papers 69, Society for Economic Dynamics.
• Alvaro Aguirre, 2018. "Welfare Effects of Fiscal Procyclicality: Public Insurance with Heterogeneous Agents," 2018 Meeting Papers 146, Society for Economic Dynamics.
• Michele Peruzzi & Alessio Terzi, 2018. "Growth Accelerations Strategies," CID Working Papers 91a, Center for International Development at Harvard University.
• Marc Auboin & Floriana Borino, 2018. "Recent Trade Dynamics in Asia: Examples from Specific Industries," CESifo Working Paper Series 7194, CESifo.
• Hong Thai Le & Marta Disegna, 2018. "Responses of macroeconomy and stock markets to structural oil price shocks: New evidence from Asian oil refinery," BAFES Working Papers BAFES25, Department of Accounting, Finance & Economic, Bournemouth University.
• Jean Armand Gnagne & Kevin Moran, 2018. "Monitoring Bank Failures in a Data-Rich Environment," Cahiers de recherche 1815, Centre de recherche sur les risques, les enjeux économiques, et les politiques publiques.
• Chiu, Jonathan & Koeppl, Thorsten, 2017. "The Economics of Cryptocurrencies - Bitcoin and Beyond," Queen's Economics Department Working Papers 274715, Queen's University - Department of Economics.
• Jose Maria Serena & Ricardo Sousa, 2018. "Does exchange rate depreciation have contractionary effects on firm-level investment?," Working Papers 26, European Stability Mechanism.
• International Monetary Fund, 2018. "Vietnam; 2018 Article IV Consultation-Press Release and Staff Report," IMF Staff Country Reports 18/215, International Monetary Fund.
• Alejandro Cuñat & Robert Zymek, 2018. "International Value-Added Linkages in Development Accounting," CESifo Working Paper Series 7196, CESifo.
• Keiichi Goshima & Yusuke Kumano, 2018. "Monetary Policy Announcement and Algorithmic News Trading in the Foreign Exchange Market," IMES Discussion Paper Series 18-E-13, Institute for Monetary and Economic Studies, Bank of Japan.
• Javier Bianchi & Cesar Sosa-Padilla, 2018. "Reserve Accumulation, Macroeconomic Stabilization and Sovereign Risk," 2018 Meeting Papers 1166, Society for Economic Dynamics.
• Klaudijo Klaser, 2018. "The European Social Welfare Function Shaped on a Difference Principle: A Normative Rawlsian Approach in Favour of Fiscal Union," CESifo Working Paper Series 7186, CESifo.
• Sergeyev, Dmitriy & Iovino, Luigi, 2018. "Central Bank Balance Sheet Policies Without Rational Expectations," CEPR Discussion Papers 13100, C.E.P.R. Discussion Papers.
• Botta, Alberto & Caverzasi, Eugenio & Russo, Alberto & Gallegati, Mauro & Stiglitz, Joseph E., 2018. "Inequality and finance in a rent economy," Greenwich Papers in Political Economy 20377, University of Greenwich, Greenwich Political Economy Research Centre.
• Gustavo Leyva & Carlos Urrutia, 2018. "Informality, Labor Regulation, and the Business Cycle," 2018 Meeting Papers 587, Society for Economic Dynamics.
• Jean-Bernard Chatelain & Kirsten Ralf, 2018. "Super-inertial interest rate rules are not solutions of Ramsey optimal monetary policy," PSE Working Papers halshs-01863367, HAL.
• International Monetary Fund, 2018. "Central African Economic and Monetary Community (CEMAC); Staff Report on the Common Policies in Support of Member Countries Reform Programs," IMF Staff Country Reports 18/210, International Monetary Fund.
• International Monetary Fund, 2018. "Benin; Second Review under the Extended Credit Facility and Request for Modification of Performance Criteria – Press Release; and Staff Report," IMF Staff Country Reports 18/217, International Monetary Fund.
• Korkut Alp Erturk & Ivan Mendieta-Munoz, 2018. "The changing dynamics of short-run output adjustment," Working Paper Series, Department of Economics, University of Utah 2018_04, University of Utah, Department of Economics.
• Katarina Juselius, 2018. "Searching for a theory that fits the data: A personal research odyssey," Discussion Papers 18-07, University of Copenhagen. Department of Economics.
• Christianah Adekunbi Falade, 2018. "Entrepreneurship Education And Risk Taking Behaviour Of Nigerian Graduates," Proceedings of International Academic Conferences 7709554, International Institute of Social and Economic Sciences.
• Bown, Chad, 2018. "Trade Policy Toward Supply Chains after the Great Recession," CEPR Discussion Papers 13079, C.E.P.R. Discussion Papers.
• Michael B. Devereux & Gregor W. Smith, 2018. "Commodity Currencies And Monetary Policy," Working Paper 1408, Economics Department, Queen's University.
• Hyun Woong Park & Dong–Min Rieu, 2018. "A Puzzle about the Monetary Expression of Labor Time : An Equilibrating Mechanism or Just A Coincidence?," UMASS Amherst Economics Working Papers 2018-15, University of Massachusetts Amherst, Department of Economics.
• Plantin, Guillaume & Acharya, Viral, 2018. "Monetary Easing, Investment and Financial Instability," CEPR Discussion Papers 13072, C.E.P.R. Discussion Papers.
• Irena Mikolajun & Jean-Marie Viaene, 2018. "Is Hard Brexit Detrimental to EU Integration? Theory and Evidence," CESifo Working Paper Series 7199, CESifo.
• Davide Melcangi, 2018. "The Marginal Propensity to Hire," 2018 Meeting Papers 807, Society for Economic Dynamics.
• Joachim Jungherr & Immo Schott, 2018. "The Long-term Debt Accelerator," 2018 Meeting Papers 961, Society for Economic Dynamics.
• José Azar & Xavier Vives, 2018. "Oligopoly, Macroeconomic Performance, and Competition Policy," CESifo Working Paper Series 7189, CESifo.
• Blazejowski, Marcin & Kufel, Paweł & Kwiatkowski, Jacek, 2018. "Model simplification and variable selection: A Replication of the UK inflation model by Hendry (2001)," MPRA Paper 88745, University Library of Munich, Germany.
• International Monetary Fund, 2018. "Euro Area Policies; Financial Sector Assessment Program-Technical Note-Insurance, Investment Firm, and Macroprudential Oversight," IMF Staff Country Reports 18/230, International Monetary Fund.
• Chen, Natalie & Chung, Wanyu & Novy, Dennis, 2018. "Vehicle Currency Pricing and Exchange Rate Pass-Through," CEPR Discussion Papers 13085, C.E.P.R. Discussion Papers.
• Simeon Nanovsky, 2018. "Macroeconomic Independence and Optimum Currency Area in the Eurozone: An Alternative Assessment," Proceedings of International Academic Conferences 7708970, International Institute of Social and Economic Sciences.
• KICHIKAWA Yuichi & AOYAMA Hideaki & FUJIWARA Yoshi & IYETOMI Hiroshi & YOSHIKAWA Hiroshi, 2018. "Analysis of Inflation/Deflation: Clusters of micro prices matter!," Discussion papers 18055, Research Institute of Economy, Trade and Industry (RIETI).
• International Monetary Fund, 2018. "Tunisia; Third Review under the Extended Fund Facility, and Request for Waiver of Applicability and Modification of Performance Criteria," IMF Staff Country Reports 18/218, International Monetary Fund.
• Hiroshi Teruyama & Yasuo Goto & Sebastien Lechevalier, 2018. "Firm-Level Labor Demand for and Macroeconomic Increases in Non-Regular Workers in Japan," Working Papers halshs-01854291, HAL.
• Stephen Ayerst & Loren Brandt & Diego Restuccia, 2018. "Market Constraints, Misallocation, and Productivity in Vietnam Agriculture," Working Papers tecipa-615, University of Toronto, Department of Economics.
• Philippe Bracke & Silvana Tenreyro, 2018. "History dependence in the housing market," CEP Discussion Papers dp1568, Centre for Economic Performance, LSE.
• Miranda-Agrippino, Silvia & Ricco, Giovanni, 2017. "The Transmission of Monetary Policy Shocks," Economic Research Papers 269310, University of Warwick - Department of Economics.
• Jan P. A. M. Jacobs & Samad Sarferaz & Jan-Egbert Sturm & Simon van Norden, 2018. "Can GDP measurement be further improved? Data revision and reconciliation," Papers 1808.04970, arXiv.org.