Report NEP-MAC-2019-04-15

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:

• Olkhov, Victor, 2019. "New Essentials of Economic Theory I. Assumptions, Economic Space and Variables," MPRA Paper 93085, University Library of Munich, Germany.
• Luca Gambetti & Christoph Görtz & Dimitris Korobilis & John D. Tsoukalas & Francesco Zanetti, 2019. "The effect of news shocks and monetary policy," CESifo Working Paper Series 7578, CESifo.
• Thomas Palley, 2019. "Macroeconomics vs Modern Money Theory: Some unpleasant Keynesian arithmetic," Working Papers PKWP1910, Post Keynesian Economics Society (PKES).
• Drissi, Ramzi & Ghassan, Hassan B., 2018. "Sticky Price versus Sticky Information Price: Empirical Evidence in the New Keynesian Setting," MPRA Paper 93075, University Library of Munich, Germany, revised Apr 2019.
• Fernando Alexandre & Hélder Costa & Miguel Portela & Miguel Rodrigues, 2018. "Asymmetric regional dynamics: from bust to recovery," NIPE Working Papers 17/2018, NIPE - Universidade do Minho.
• Rasmus Fatum & Naoko Hara & Yohei Yamamoto, 2019. "Negative Interest Rate Policy and the Influence of Macroeconomic News on Yields," Globalization Institute Working Papers 354, Federal Reserve Bank of Dallas.
• Viacheslav Sheremirov & Sandra Spirovska, 2019. "Fiscal multipliers in advanced and developing countries: evidence from military spending," Working Papers 19-3, Federal Reserve Bank of Boston.
• Darracq Pariès, Matthieu & Kok, Christoffer & Rancoita, Elena, 2019. "Macroprudential policy in a monetary union with cross-border banking," Working Paper Series 2260, European Central Bank.
• Zengping He & Genliang Jia, 2019. "An Institutional Analysis of China's Reform of their Monetary Policy Framework," Economics Working Paper Archive wp_925, Levy Economics Institute.
• Egemen Eren & Semyon Malamud, 2018. "Dominant Currency Debt," Swiss Finance Institute Research Paper Series 18-55, Swiss Finance Institute.
• Yoichiro Tamanyu, 2019. "Tax Rules to Prevent Expectations-driven Liquidity Trap," Keio-IES Discussion Paper Series 2019-005, Institute for Economics Studies, Keio University.
• King Yoong Lim & Pengfei Jia, 2019. "Police spending and economic stabilization in a monetary economy with crime and differential human capital," NBS Discussion Papers in Economics 2019/02, Economics, Nottingham Business School, Nottingham Trent University.
• Hochmuth, Brigitte & Kohlbrecher, Britta & Merkl, Christian & Gartner, Hermann, 2019. "Hartz IV and the Decline of German Unemployment: A Macroeconomic Evaluation," IZA Discussion Papers 12260, Institute of Labor Economics (IZA).
• Alberto Botta & Eugenio Caverzasi & Alberto Russo, 2019. "When complexity meets finance: A contribution to the study of the macroeconomic effects of complex financial systems," Working Papers PKWP1909, Post Keynesian Economics Society (PKES).
• Jamie Culling & Michael Callaghan & Adam Richardson, 2019. "Effective Monetary Stimulus: Measuring the stance of monetary policy in New Zealand," Reserve Bank of New Zealand Analytical Notes series AN2019/05, Reserve Bank of New Zealand.
• Wishnu Mahraddika, 2019. "Does international reserve accumulation crowd out domestic private investment?," Departmental Working Papers 2019-02, The Australian National University, Arndt-Corden Department of Economics.
• khan, sajawal, 2018. "Business Cycle Fluctuations: why are so undesirable?," MPRA Paper 93172, University Library of Munich, Germany, revised 12 Jan 2019.
• Papetti, Andrea, 2019. "Demographics and the natural real interest rate: historical and projected paths for the euro area," Working Paper Series 2258, European Central Bank.
• Vítor Castro & Rodrigo Martins, 2018. "Economic and political drivers of the duration of credit booms," NIPE Working Papers 15/2018, NIPE - Universidade do Minho.
• khan, sajawal, 2018. "Managing the Expectations and Monetary Policy effectiveness: Role of Inflation Targeting," MPRA Paper 93170, University Library of Munich, Germany, revised 20 Feb 2019.
• International Monetary Fund, 2019. "Argentina; Third Review under the Stand-By Arrangement, Request for Waivers of Applicability of Performance Criteria, Financing Assurances Review, and Request for Modification of Performance Criteria-," IMF Staff Country Reports 19/99, International Monetary Fund.
• Brand, Claus & Mazelis, Falk, 2019. "Taylor-rule consistent estimates of the natural rate of interest," Working Paper Series 2257, European Central Bank.
• Farmer, Roger & Nicolo, Giovanni, 2019. "Some International Evidence for Keynesian Economics Without the Phillips Curve," CEPR Discussion Papers 13655, C.E.P.R. Discussion Papers.
• International Monetary Fund, 2019. "Ghana; Seventh and Eighth Reviews Under the Extended Credit Facility Arrangement and Request for Waivers of Nonobservance of Performance Criteria-Press Release; Staff Report; and Statement by the Exec," IMF Staff Country Reports 91/97, International Monetary Fund.
• Claude Bismut & Ismael Ramajo, 2019. "A world of low interest rates," CEE-M Working Papers hal-02086234, CEE-M, Universtiy of Montpellier, CNRS, INRA, Montpellier SupAgro.
• James B. Bullard, 2018. "Assessing the Risk of Yield Curve Inversion: An Update: a presentation at the Glasgow-Barren County Chamber of Commerce Quarterly Breakfast, Glasgow, Ky," Speech 317, Federal Reserve Bank of St. Louis.
• James B. Bullard, 2018. "Remarks on the 2018 U.S. Macroeconomic Outlook: a presentation at the 29th Annual Economic Outlook Conference, Gatton College of Business and Economics, University of Kentucky, Lexington, Ky," Speech 300, Federal Reserve Bank of St. Louis.
• Harashima, Taiji, 2019. "A Pareto Inefficient Path to Steady State in Recession," MPRA Paper 93216, University Library of Munich, Germany.
• Junankar, Pramod N. (Raja), 2019. "Monetary Policy, Growth and Employment in Developing Areas: A Review of the Literature," IZA Discussion Papers 12197, Institute of Labor Economics (IZA).
• Cipullo, Davide & Reslow, André, 2019. "Biased Forecasts to Affect Voting Decisions? The Brexit Case," Working Paper Series 2019:4, Uppsala University, Department of Economics.
• Kose, M. Ayhan & Huidrom, Raju & Lim, Jamus & Ohnsorge, Franziska, 2019. "Why Do Fiscal Multipliers Depend on Fiscal Positions?," CEPR Discussion Papers 13648, C.E.P.R. Discussion Papers.
• Lena Boneva & James Cloyne & Martin Weale & Tomasz Wieladek, 2019. "Firms' Price, Cost and Activity Expectations: Evidence from Micro Data," Economic Statistics Centre of Excellence (ESCoE) Discussion Papers ESCoE DP-2019-05, Economic Statistics Centre of Excellence (ESCoE).
• International Monetary Fund, 2019. "Nigeria; 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Nigeria," IMF Staff Country Reports 19/92, International Monetary Fund.
• Sebastian Link, 2019. "The Price and Employment Response of Firms to the Introduction of Minimum Wages," CESifo Working Paper Series 7575, CESifo.
• James B. Bullard, 2018. "More on Modern Monetary Policy Rules: a presentation at the Indiana Bankers Association, Indiana Economic Outlook Forum, Carmel, Ind," Speech 326, Federal Reserve Bank of St. Louis.
• Moore, Rachel & Pecoraro, Brandon, 2019. "Modeling the Internal Revenue Code in a heterogeneous-agent framework: An application to TCJA," MPRA Paper 93110, University Library of Munich, Germany.
• Xu, Wenli, 2019. "A Baseline Medium-Scale NK DSGE Model for Policy Analysis," MPRA Paper 93167, University Library of Munich, Germany.
• Antonia Lòpez-Villavicencio & Marc Pourroy, 2019. "Inflation target and (a)symmetries in the oil price pass-through to inflation," Post-Print hal-02082415, HAL.
• Christian Matthes & Felipe Schwartzman, 2019. "What Do Sectoral Dynamics Tell Us About the Origins of Business Cycles?," Working Paper 19-9, Federal Reserve Bank of Richmond.
• Dimitrios Bakas & Athanasios Triantafyllou, 2018. "The Impact of Uncertainty Shocks on the Volatility of Commodity Prices," NBS Discussion Papers in Economics 2018/02, Economics, Nottingham Business School, Nottingham Trent University.
• Thomas Douenne, 2019. "Disaster risks, disaster strikes and economic growth: the role of preferences," Working Papers 2019.05, FAERE - French Association of Environmental and Resource Economists.
• James B. Bullard, 2018. "The U.S. Economy Three Months into 2018: a presentation at the Arkansas Bankers Association and Arkansas State Bank Department’s Day with the Commissioner, Little Rock, Ark," Speech 303, Federal Reserve Bank of St. Louis.
• James B. Bullard, 2019. "Three Themes for Monetary Policy in 2019: a presentation at The 57th Winter Institute, St. Cloud State University, St. Cloud, Minn," Speech 329, Federal Reserve Bank of St. Louis.
• Mairead de Roiste & Apostolos Fasianos & Robert Kirkby & Fang Yao, 2019. "Household Leverage and Asymmetric Housing Wealth Effects- Evidence from New Zealand," Reserve Bank of New Zealand Discussion Paper Series DP2019/01, Reserve Bank of New Zealand.
• Fernando Alexandre & Pedro Bação & Miguel Portela, 2019. "A flatter life-cycle consumption profile," NIPE Working Papers 01/2019, NIPE - Universidade do Minho.
• Juan David Urquijo Vanegas & Carlos Mateo Perilla Castañeda & Fabián Ricardo Martínez Cruz, 2019. "Fracking: viabilidad económica y ambiental en Colombia," Econógrafos, Escuela de Economía 17222, Universidad Nacional de Colombia, FCE, CID.
• International Monetary Fund, 2019. "Arab Republic of Egypt; Fourth Review Under the Extended Arrangement Under the Extended Fund Facility-Press Release; Staff Report; and Statement by the Executive Director for the Arab Republic of Egyp," IMF Staff Country Reports 19/98, International Monetary Fund.
• Joseph E. Gagnon & Christopher G. Collins, 2019. "Low Inflation Bends the Phillips Curve," Working Paper Series WP19-6, Peterson Institute for International Economics.
• William Oman, 2019. "The Synchronization of Business Cycles and Financial Cycles in the Euro Area," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-02076848, HAL.
• Nicholas Oulton, 2019. "GDP is a measure of output, not welfare. Or, HOS meets the SNA," Economic Statistics Centre of Excellence (ESCoE) Discussion Papers ESCoE DP-2019-06, Economic Statistics Centre of Excellence (ESCoE).
• James B. Bullard & Riccardo DiCecio, 2018. "Optimal Monetary Policy for the Masses: a presentation at the Swiss National Bank Research Conference 2018, Current Monetary Policy Challenges, Zurich, Switzerland," Speech 321, Federal Reserve Bank of St. Louis.
• James B. Bullard, 2018. "A Cautionary Note on U.S. Monetary Policy Normalization: a presentation at the Japan Center for International Finance, Global Finance Seminar, Tokyo, Japan," Speech 309, Federal Reserve Bank of St. Louis.
• King Yoong Lim & Diego Morris, 2019. "Modeling the drugs and guns trade in a two-country model with endogenous growth," NBS Discussion Papers in Economics 2019/01, Economics, Nottingham Business School, Nottingham Trent University.
• James B. Bullard, 2019. "When Quantitative Tightening Is Not Quantitative Tightening: a presentation at the 2019 U.S. Monetary Policy Forum, The Future of the Federal Reserve’s Balance Sheet, New York, N.Y," Speech 330, Federal Reserve Bank of St. Louis.
• Serhan Cevik, 2019. "Anchor Me: The Benefits and Challenges of Fiscal Responsibility," IMF Working Papers 19/70, International Monetary Fund.
• James B. Bullard, 2018. "Optimal Monetary Policy for the Masses: a presentation at the 2018 Texas Monetary Conference, Austin, Texas," Speech 305, Federal Reserve Bank of St. Louis.
• Rudolfs Bems & Francesca G Caselli & Francesco Grigoli & Bertrand Gruss, 2019. "Gains from Anchoring Inflation Expectations: Evidence from the Taper Tantrum Shock," IMF Working Papers 19/75, International Monetary Fund.
• Hali Edison & Hector Carcel, 2019. "Text Data Analysis Using Latent Dirichlet Allocation: An Application to FOMC Transcripts," Bank of Lithuania Discussion Paper Series 11, Bank of Lithuania.
• James B. Bullard, 2018. "Optimal Monetary Policy for the Masses: a presentation at the University of Birmingham, Birmingham, United Kingdom," Speech 318, Federal Reserve Bank of St. Louis.
• James B. Bullard, 2018. "What Is the Best Strategy for Extending the U.S. Economy’s Expansion?: a presentation at the CFA Society Chicago—Distinguished Speaker Series Breakfast, Chicago, Ill," Speech 320, Federal Reserve Bank of St. Louis.
• Charles I. Jones, 2019. "Taxing Top Incomes in a World of Ideas," NBER Working Papers 25725, National Bureau of Economic Research, Inc.
• James Bishop & Iris Chan, 2019. "Is Declining Union Membership Contributing to Low Wages Growth?," RBA Research Discussion Papers rdp2019-02, Reserve Bank of Australia.
• Maxim, Maruf Rahman & Zander, Kerstin, 2019. "Can a Green Tax Reform Entail Employment Double Dividend in European and non-European Countries? A Survey of the Empirical Evidence," MPRA Paper 93226, University Library of Munich, Germany.
• Linda G. Veiga & Georgios Efthyvoulou & Atsuyoshi Morozumi, 2018. "Political Budget Cycles: Conditioning Factors and New Evidence," NIPE Working Papers 21/2018, NIPE - Universidade do Minho.
• Eric Rosengren, 2019. "Perspectives on monetary policy and market volatility: remarks to The Boston Economic Club, Federal Reserve Bank of Boston, Boston, Massachusetts, January 9, 2019," Speech 140, Federal Reserve Bank of Boston.
• James B. Bullard, 2018. "U.S. Monetary Policy: A Case for Caution: a presentation at the Springfield Area Chamber of Commerce, Springfield Business Development Corp. Meeting, Springfield, Mo," Speech 306, Federal Reserve Bank of St. Louis.
• Thomas van Florenstein Mulder & Tugrul Vehbi, 2019. "Forecasting with a Global VAR model," Reserve Bank of New Zealand Analytical Notes series AN2019/03, Reserve Bank of New Zealand.
• James B. Bullard, 2018. "Modernizing Monetary Policy Rules: a presentation a t the Economic Club of Memphis, Memphis, Tenn," Speech 324, Federal Reserve Bank of St. Louis.
• James B. Bullard, 2018. "Optimal Monetary Policy for the Masses: a presentation at Norges Bank, Oslo, Norway," Speech 298, Federal Reserve Bank of St. Louis.
• Góra, Marek & Palmer, Edward, 2019. "NDC: The Generic Old-Age Pension Scheme," IZA Discussion Papers 12221, Institute of Labor Economics (IZA).
• J. E. Boscá & R. Doménech & J. Ferri & J. Rubio-Ramirez, 2019. "Macroeconomic Effects of Taxes on Banking," Studies on the Spanish Economy eee2019-09, FEDEA.
• Nogues-Marco, Pilar & Esteves, Rui, 2019. "Monetary Systems and the Global Balance-of-Payments Adjustment in the Pre-Gold Standard Period, 1700-1870," CEPR Discussion Papers 13652, C.E.P.R. Discussion Papers.
• James B. Bullard, 2018. "How to Extend the U.S. Expansion: A Suggestion: a presentation at the Real Return XII: The Inflation-Linked Products Conference 2018, New York, N.Y," Speech 319, Federal Reserve Bank of St. Louis.
• Molinder, Jakob, 2019. "Why Was Unemployment so Low in Postwar Sweden? An Analysis with New Unemployment Data by Manufacturing Industry, 1935-1948," Lund Papers in Economic History 201, Lund University, Department of Economic History.
• Darracq Pariès, Matthieu & Papadopoulou, Niki, 2019. "On the credit and exchange rate channels of central bank asset purchases in a monetary union," Working Paper Series 2259, European Central Bank.
• Gabriele Camera & Cary Deck & David Porter, 2019. "Do Economic Inequalities Affect Long-Run Cooperation & Prosperity?," Working Papers 19-09, Chapman University, Economic Science Institute.
• James B. Bullard, 2018. "Optimal Monetary Policy for the Masses: a presentation at the Barcelona GSE, Summer Forum, Workshop on Monetary Policy and Central Banking, Barcelona, Spain," Speech 313, Federal Reserve Bank of St. Louis.
• Eric Rosengren, 2019. "Central bank balance sheets: misconceptions and realities: remarks at the Credit Suisse Asian Investment Conference, Hong Kong, China, March 26, 2019," Speech 142, Federal Reserve Bank of Boston.
• Eric Rosengren, 2019. "Risk management in monetary policymaking: remarks to the National Association of Corporate Directors, New England Chapter, Boston, Massachusetts, March 5, 2019," Speech 141, Federal Reserve Bank of Boston.
• James B. Bullard & Riccardo DiCecio, 2019. "\"Optimal Monetary Policy for the Masses: a presentation at the Center for Research on the Wisconsin Economy, University of Wisconsin-Madison, Madison, Wis," Speech 331, Federal Reserve Bank of St. Louis.
• Reis, Ricardo, 2018. "Comment on "Michelson-Morley, Fisher, and Occam: the radical implications of stable quiet inflation at the zero bound"," LSE Research Online Documents on Economics 85665, London School of Economics and Political Science, LSE Library.
• Szybisz, Martin Andres, 2019. "Interactions between Credit and Market Risk, Diversification vs Compounding effects," MPRA Paper 93173, University Library of Munich, Germany.
• James B. Bullard, 2019. "Perspectives on 2019 Monetary Policy: a presentation at the Power Up Little Rock, Little Rock Regional Chamber, Little Rock, Ark," Speech 327, Federal Reserve Bank of St. Louis.
• Jagjit S. Chadha & Ana Rincon-Aznar & Sylaja Srinivasan & Ryland Thomas, 2019. "A Century of High Frequency UK Macroeconomic Statistics: A Data Inventory," Economic Statistics Centre of Excellence (ESCoE) Technical Reports ESCOE-TR-03, Economic Statistics Centre of Excellence (ESCoE).
• Nicolás Andrés Cabra Ruiz & Nicolás Steven Escobar Forero & Andrés Nicolás Herrera Rojas, 2019. "Determinantes de la violencia homicida en Bogotá 2002-2017," Econógrafos, Escuela de Economía 17223, Universidad Nacional de Colombia, FCE, CID.
• António Afonso & João Tovar Jalles, 2019. "Stock flow adjustments in sovereign debt dynamics: the role of fiscal frameworks," EconPol Working Paper 20, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
• Kenny S, Victoria, 2019. "A causal relationship between unemployment and economic growth," MPRA Paper 93133, University Library of Munich, Germany.
• Virginie Coudert & Cécile Couharde & Carl Grekou & Valérie Mignon, 2019. "Heterogeneity within the euro area: New insights into an old story," EconomiX Working Papers 2019-6, University of Paris Nanterre, EconomiX.
• James B. Bullard, 2018. "Allan Meltzer and the Search for a Nominal Anchor: a speech at the \"Meltzer's Contributions to Monetary Economics and Public Policy, Philadelphia, Pa," Speech 296, Federal Reserve Bank of St. Louis.
• Mohamed Diaby & Atsuyoshi Morozumi, 2019. "Sectoral heterogeneities in price rigidity and returns to scale," Discussion Papers 2019/05, University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM).
• Tamon Asonuma & Marcos d Chamon & Aitor Erce & Akira Sasahara, 2019. "Costs of Sovereign Defaults: Restructuring Strategies, Bank Distress and the Capital Inflow-Credit Channel," IMF Working Papers 19/69, International Monetary Fund.
• Ali Alichi & Ippei Shibata & Kadir Tanyeri, 2019. "Fiscal Policy Multipliers in Small States," IMF Working Papers 19/72, International Monetary Fund.
• Raghavan, Mala, 2019. "An analysis of the global oil market using SVARMA models," Working Papers 2019-01, University of Tasmania, Tasmanian School of Business and Economics.
• James B. Bullard, 2018. "The Case of the Disappearing Phillips Curve: a presentation at the 2018 ECB Forum on Central Banking Macroeconomics of Price- and Wage-Setting, Sintra, Portugal," Speech 314, Federal Reserve Bank of St. Louis.
• Grafström, Jonas, 2019. "Public policy failures related to China´s Wind Power Development," Ratio Working Papers 320, The Ratio Institute.
• Naudé, Wim, 2019. "The Race against the Robots and the Fallacy of the Giant Cheesecake: Immediate and Imagined Impacts of Artificial Intelligence," IZA Discussion Papers 12218, Institute of Labor Economics (IZA).
• James B. Bullard, 2018. "A Primer on Price Level Targeting in the U.S.: a presentation at the CFA Society of St. Louis, St. Louis, Mo," Speech 297, Federal Reserve Bank of St. Louis.
• Agarwal, Samiksha & Chakraborty, Lekha, 2019. "Business Taxation in an Emerging Economy: Analysing Corporate Tax Incidence," MPRA Paper 93192, University Library of Munich, Germany.
• Kenny S, Victoria, 2019. "Exchange Rate Management and Economic Growth: An FMOLS Approach," MPRA Paper 93125, University Library of Munich, Germany.
• Zohair Alam & Adrian Alter & Jesse Eiseman & R. G Gelos & Heedon Kang & Machiko Narita & Erlend Nier & Naixi Wang, 2019. "Digging Deeper--Evidence on the Effects of Macroprudential Policies from a New Database," IMF Working Papers 19/66, International Monetary Fund.
• Steusloff, Tatjana & Steusloff, Tatjana, "undated". "Motive und Barrieren zum Konsum von Superfood [Motives and Barriers for the Consumption of Superfood]," Duesseldorf Working Papers in Applied Management and Economics 49, Duesseldorf University of Applied Sciences.
• James B. Bullard, 2018. "Does a Low-Interest-Rate Regime Harm Savers?: a presentation at Nonlinear Models in Macroeconomics and Finance for an Unstable World, Norges Bank, Oslo, Norway," Speech 299, Federal Reserve Bank of St. Louis.
• Nashihah, Faidatun, 2019. "Market mechanisms in conventional economics and Islamic Economics," MPRA Paper 93190, University Library of Munich, Germany, revised 02 Apr 2019.
• Hasan, Zubair, 2019. "Deficit financing in developing countries: Applications and consequences," MPRA Paper 93118, University Library of Munich, Germany, revised Feb 2019.