Report NEP-MAC-2020-02-10

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:

• Òscar Jordà & Sanjay R. Singh & Alan M. Taylor, 2020. "The Long-Run Effects of Monetary Policy," NBER Working Papers 26666, National Bureau of Economic Research, Inc.
• Serdar Birinci & Kurt See, 2019. "Labor Market Responses to Unemployment Insurance: The Role of Heterogeneity," Working Papers 2019-022, Federal Reserve Bank of St. Louis, revised Nov 2021.
• Michalis Nikiforos, 2020. "Demand, Distribution, Productivity, Structural Change, and (Secular?) Stagnation," Economics Working Paper Archive wp_945, Levy Economics Institute.
• Benjamin Beckers, 2020. "Credit Spreads, Monetary Policy and the Price Puzzle," RBA Research Discussion Papers rdp2020-01, Reserve Bank of Australia.
• David Finck, 2020. "Forward Guidance Under the Cost Channel," MAGKS Papers on Economics 202004, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
• Mario Cassetti, 2020. "Fiscal policy as a long-run stabilization tool. Simulations with a stock-flow consistent model," Working Papers PKWP2003, Post Keynesian Economics Society (PKES).
• Julien Albertini & Stéphane Auray & Hafedh Bouakez & Aurélien Eyquem, 2020. "Taking off into the Wind: Unemployment Risk and State-Dependent Government Spending Multipliers," Working Papers 2002, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
• Joana Sousa Leite & Rita Soares & João Filipe & Nuno Nóbrega, 2020. "Banco de Portugal TARGET balance: evolution and main drivers," Working Papers o202001, Banco de Portugal, Economics and Research Department.
• Dimitrios Anastasiou & Zacharias Bragoudakis & Stelios Giannoulakis, 2020. "Perceived vs actual financial crisis and bank credit standards: is there any indication of self-fulfilling prophecy?," Working Papers 277, Bank of Greece.
• Gibbs, Christopher G. & McClung, Nigel, 2019. "Does my model predict a forward guidance puzzle?," Research Discussion Papers 19/2019, Bank of Finland.
• Lars E.O. Svensson, 2020. "Monetary Policy Strategies for the Federal Reserve," NBER Working Papers 26657, National Bureau of Economic Research, Inc.
• Leland Bybee & Bryan T. Kelly & Asaf Manela & Dacheng Xiu, 2020. "The Structure of Economic News," NBER Working Papers 26648, National Bureau of Economic Research, Inc.
• Andrea Berardi & Alberto Plazzi, 2019. "Dissecting the Yield Curve: The International Evidence," Swiss Finance Institute Research Paper Series 19-73, Swiss Finance Institute.
• Muhammad Nadim Hanif & Javed Iqbal & Syed Hamza Ali & Muhammad Abdus Salam, 2019. "Denoised Inflation: A New Measure of Core Inflation," SBP Working Paper Series 102, State Bank of Pakistan, Research Department.
• Zhang, Hanzhe & Hu, Yunzhi, 2020. "Overcoming Borrowing Stigma: The Design of Lending-of-Last-Resort Policies," Working Papers 2020-5, Michigan State University, Department of Economics.
• Kollar, Miroslav & Schmieder, Christian, 2019. "Macro-based asset allocation: An empirical analysis," EIB Working Papers 2019/11, European Investment Bank (EIB).
• Ryan Chahrour & Sanjay Chugh & Tristan Potter, 2020. "Anticipated Productivity and the Labor Market," Boston College Working Papers in Economics 992, Boston College Department of Economics.
• Ivan Mendieta-Munoz & Codrina Rada & Marcio Santetti & Rudiger von Arnim, 2020. "The US labour share of income: What shocks matter?," Working Paper Series, Department of Economics, University of Utah 2020_02, University of Utah, Department of Economics.
• Shuonan Zhang, 2020. "State-owned enterprises and entrusted lending: A DSGE analysis for growth and business cycles in China," Working Papers in Economics & Finance 2020-01, University of Portsmouth, Portsmouth Business School, Economics and Finance Subject Group.
• Robert Kollmann, 2020. "Rational bubbles in non-linear business cycle models: Closed and open economies," CAMA Working Papers 2020-06, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
• Muhammad Ejaz & Muhammad Nadim Hanif, 2018. "An Anatomy of Credit Booms in Pakistan: Evidence from Macro Aggregates and Firm Level Data," SBP Working Paper Series 101, State Bank of Pakistan, Research Department.
• Patrick Adams & Domenico Giannone & Eric Qian & Argia M. Sbordone, 2019. "Monitoring Economic Conditions during a Government Shutdown," Liberty Street Economics 20190205, Federal Reserve Bank of New York.
• Heikki Kauppi & Timo Virtanen, 2018. "Boosting Non-linear Predictabilityof Macroeconomic Time Series," Discussion Papers 124, Aboa Centre for Economics.
• Martin Hellwig, 2019. "Banks, Politics and European Monetary Union," Discussion Paper Series of the Max Planck Institute for Research on Collective Goods 2019_13, Max Planck Institute for Research on Collective Goods.
• Catherine Doz & Laurent Ferrara & Pierre-Alain Pionnier, 2020. "Business cycle dynamics after the Great Recession: An Extended Markov-Switching Dynamic Factor Model," Working Papers halshs-02443364, HAL.
• Akvile Bertasiute & Domenico Massaro & Matthias Weber, 2019. "The Behavioral Economics of Currency Unions: Economic Integration and Monetary Policy," Working Papers on Finance 1916, University of St. Gallen, School of Finance.
• Minetti, Raoul & Di Pietro, Marco & Marattin, Luigi, 2020. "Public Debt, Sovereign Spreads and the Unpleasant Arithmetic of Fiscal Consolidations," Working Papers 2020-4, Michigan State University, Department of Economics.
• Hideaki Matsuoka, 2020. "Debt intolerance: Threshold level and composition," Working Papers on Central Bank Communication 014, University of Tokyo, Graduate School of Economics.
• Ilu, Ahmad Ibraheem, 2020. "Exchange Rate Pass through to Stock Prices: A Multi GARCH Approach," MPRA Paper 98442, University Library of Munich, Germany.
• Alejandro Justiniano & Giorgio E. Primiceri & Andrea Tambalotti, 2015. "Credit Supply and the Housing Boom," Liberty Street Economics 20150420, Federal Reserve Bank of New York.
• Acharya, Viral V. & Imbierowicz, Björn & Steffen, Sascha & Teichmann, Daniel, 2019. "Does the lack of financial stability impair the transmission of monetary policy?," Discussion Papers 48/2019, Deutsche Bundesbank.
• Oguzhan Cepni & Wiehan Dul & Rangan Gupta & Mark E. Wohar, 2020. "The Dynamics of U.S. REITs Returns to Uncertainty Shocks: A Proxy SVAR Approach," Working Papers 202001, University of Pretoria, Department of Economics.
• Moreno Bertoldi & Paolo Pesenti & Helene Rey & Valérie Rouxel-Laxton, 2016. "At the N.Y. Fed: The Transatlantic Economy: Convergence or Divergence?," Liberty Street Economics 20160603, Federal Reserve Bank of New York.
• Nicholas Oulton, 2020. "Measuring productivity: theory and British practice," Economic Statistics Centre of Excellence (ESCoE) Discussion Papers ESCoE DP-2020-01, Economic Statistics Centre of Excellence (ESCoE).
• Marco Del Negro & Domenico Giannone & Marc Giannoni & Abhi Gupta & Pearl Li & Andrea Tambalotti, 2018. "A DSGE Perspective on Safety, Liquidity, and Low Interest Rates," Liberty Street Economics 20180207, Federal Reserve Bank of New York.
• Olivier Armantier & Giorgio Topa & Wilbert Van der Klaauw & Basit Zafar, 2016. "How Do People Revise Their Inflation Expectations?," Liberty Street Economics 20160822, Federal Reserve Bank of New York.
• Chen, Been-Lon & Hu, Yunfang & Mino, Kazuo, 2019. "Stability of a Small Open Economy under Nonlinear Income Taxation," MPRA Paper 98101, University Library of Munich, Germany.
• Gonzalez-Astudillo, Manuel, 2019. "Dolarización: efectos y riesgos en el caso ecuatoriano [Dollarization: effects and risks in the Ecuadorian case]," MPRA Paper 98250, University Library of Munich, Germany.
• Tobias Adrian & Nina Boyarchenko & Domenico Giannone, 2018. "Vulnerable Growth," Liberty Street Economics 20180409, Federal Reserve Bank of New York.
• Jeremiah P. Boyle & Richard K. Crump & Emanuel Moench & Matthew Raskin & Carlo Rosa & Lisa Stowe, 2014. "Interest Rate Derivatives and Monetary Policy Expectations," Liberty Street Economics 20141205b, Federal Reserve Bank of New York.
• Carl Grekou, 2019. "EQCHANGE Annual Assessment 2019," Working Papers 2019-19, CEPII research center.
• Margarida Duarte, 2020. "Services and the Decline of the U.S. Employment-to-Population Ratio," Working Papers tecipa-653, University of Toronto, Department of Economics.
• Alyssa Cambron & Marco Cipriani & Joshua Jones & Romen Mookerjee & Scott Sherman & Brett Solimine & Timothy Wessel, 2019. "Selected Deposits and the OBFR," Liberty Street Economics 20190506, Federal Reserve Bank of New York.
• António R. Antunes & Tiago Cavalcanti, 2019. "Tighter Credit and Consumer Bankruptcy Insurance," Working Papers w201921, Banco de Portugal, Economics and Research Department.
• Charles Yuji Horioka & Yoko Niimi, 2020. "Was the Expansion of Housing Credit in Japan Good or Bad?," Discussion Paper Series DP2020-02, Research Institute for Economics & Business Administration, Kobe University.
• Olivier Armantier & Giorgio Topa & Wilbert Van der Klaauw & Basit Zafar, 2013. "Introducing the FRBNY Survey of Consumer Expectations: Survey Goals, Design and Content," Liberty Street Economics 20131204b, Federal Reserve Bank of New York.
• Patrick Adams & Brandyn Bok & Daniele Caratelli & Domenico Giannone & Eric Qian & Argia M. Sbordone & Camilla Schneier & Andrea Tambalotti, 2018. "Opening the Toolbox: The Nowcasting Code on GitHub," Liberty Street Economics 20180810, Federal Reserve Bank of New York.
• Cristina Arellano & Yan Bai & Gabriel P. Mihalache, 2020. "Monetary Policy and Sovereign Risk in Emerging Economies (NK-Default)," NBER Working Papers 26671, National Bureau of Economic Research, Inc.
• Brandyn Bok & Marco Del Negro & Domenico Giannone & Marc Giannoni & Andrea Tambalotti, 2018. "A Time-Series Perspective on Safety, Liquidity, and Low Interest Rates," Liberty Street Economics 20180206, Federal Reserve Bank of New York.
• Jaqueson K. Galimberti, 2020. "Forecasting GDP growth from outer space," Working Papers 2020-02, Auckland University of Technology, Department of Economics.
• Olivier Armantier & Giorgio Topa & Wilbert Van der Klaauw & Basit Zafar, 2013. "Introducing the FRBNY Survey of Consumer Expectations: Measuring Price Inflation Expectations," Liberty Street Economics 20131204a, Federal Reserve Bank of New York.
• Kasun Kumarasiri & Ruchira L Weerasekara & Chaturika Ranaweera and Tilak Liyanaarachchi, 2019. "Revenue Based Fiscal Consolidation and Economic Growth in Sri Lanka," Discussion Papers in Economics economics:201904, Griffith University, Department of Accounting, Finance and Economics.
• YiLi Chien & Yi Wen, 2020. "Optimal Fiscal Policy under Capital Overaccumulation," Working Papers 2020-002, Federal Reserve Bank of St. Louis, revised 30 Aug 2021.
• Mary Amiti & David E. Weinstein, 2013. "Do Bank Shocks Affect Aggregate Investment?," Liberty Street Economics 20130708, Federal Reserve Bank of New York.
• Olivier Armantier & Scott Nelson & Giorgio Topa & Wilbert Van der Klaauw & Basit Zafar, 2012. "Nudging Inflation Expectations: An Experiment," Liberty Street Economics 20121105, Federal Reserve Bank of New York.
• Olivier Armantier & Giorgio Topa & Wilbert Van der Klaauw & Basit Zafar, 2016. "Who Is Driving the Recent Decline in Consumers Inflation Expectations?," Liberty Street Economics 20160105, Federal Reserve Bank of New York.
• Houda Boubaker & Eric Girardin & Christophe Muller, 2019. "Stochastic Growth Model And The Role Of Shocks To Trend In The Mena Region," Working Papers 1349, Economic Research Forum, revised 20 Sep 2019.
• Marco Del Negro & Fabrizio Perri & Fabiano Schivardi, 2011. "Tax Buyouts: Raising Government Revenues without Increasing Labor Tax Distortions," Liberty Street Economics 20110817, Federal Reserve Bank of New York.
• Marco Del Negro & Domenico Giannone & Marc Giannoni & Andrea Tambalotti, 2018. "A New Perspective on Low Interest Rates," Liberty Street Economics 20180205, Federal Reserve Bank of New York.
• Olivier Armantier & Giorgio Topa & Wilbert Van der Klaauw & Basit Zafar, 2011. "What Is Driving the Recent Rise in Consumer Inflation Expectations?," Liberty Street Economics 20110418, Federal Reserve Bank of New York.
• L. Aeberhardt & F. Hatier & M. Leclair & B. Pentinat & J.-D. Zafar, 2019. "L’économie numérique fausse-t-elle le partage volume-prix du PIB ?," Documents de Travail de l'Insee - INSEE Working Papers g2019-04, Institut National de la Statistique et des Etudes Economiques.
• Ma, Chang & Rogers, John & Zhou, Sili, 2020. "The effect of the China Connect," BOFIT Discussion Papers 1/2020, Bank of Finland, Institute for Economies in Transition.
• Taylor Webley & Carla Valerio & Maureen MacIsaac, 2020. "Characterizing Breadth in Canadian Economic Activity," Staff Analytical Notes 2020-1, Bank of Canada.
• Samba Diop & Simplice A. Asongu, 2020. "An Index of African Monetary Integration (IAMI)," Working Papers of the African Governance and Development Institute. 20/003, African Governance and Development Institute..
• Eduardo Levy Yeyati & Martín Montané & Luca Sartorio, 2019. "What works for Active Labor Market Policies?," School of Government Working Papers 201903, Universidad Torcuato Di Tella.
• Mario García-Molina & Iván Leonardo Urrea, 2020. "Cómo resolver un modelo de expectativas racionales," Documentos de Trabajo, Escuela de Economía 17799, Universidad Nacional de Colombia, FCE, CID.
• Roberta Colavecchio & Ieva Rubene, 2019. "Non-linear exchange rate pass-through to euro area inflation: A local projection approach," BCL working papers 138, Central Bank of Luxembourg.
• N. Gregory Mankiw, 2020. "A Skeptic's Guide to Modern Monetary Theory," NBER Working Papers 26650, National Bureau of Economic Research, Inc.
• Ondrej Schneider, 2019. "Partisan Fiscal Policy: Evidence from Central and Eastern Europe," CESifo Working Paper Series 8014, CESifo.
• Apostolos Serletis & Nahiyan Azad, "undated". "Monetary Policy Spillovers in Emerging Economies," Working Papers 2019-14, Department of Economics, University of Calgary, revised 13 Sep 2019.
• Dennis Dlugosch & Rauf Gönenç & Eun Jung Kim & Aleksandra Paciorek, 2020. "Firming up the capital base of the Austrian business sector - Consolidating Austria’s business sector strengths and its social role in the face of new challenges," OECD Economics Department Working Papers 1595, OECD Publishing.
• Devadas,Sharmila & Loayza,Norman V., 2018. "When is a Current Account Deficit Bad?," Research and Policy Briefs 130415, The World Bank.
• Heikki Kauppi, 2019. "Recession Prediction with OptimalUse of Leading Indicators," Discussion Papers 125, Aboa Centre for Economics.
• Dennery, Charles, 2019. "Featherbedding and labour market reforms," MPRA Paper 98190, University Library of Munich, Germany.
• Olivier Armantier & Giorgio Topa & Wilbert Van der Klaauw & Basit Zafar, 2011. "Inflation Expectations and Behavior: Do Survey Respondents Act on Their Beliefs?," Liberty Street Economics 20110727, Federal Reserve Bank of New York.
• Viral V. Acharya & Michael J. Fleming & Warren B. Hrung & Asani Sarkar, 2017. "Which Dealers Borrowed from the Fed’s Lender-of-Last-Resort Facilities?," Liberty Street Economics 20170510, Federal Reserve Bank of New York.
• Eduardo Levy Yeyati & Juan Francisco Gómez, 2019. "The cost of holding foreign exchange reserves," School of Government Working Papers 201901, Universidad Torcuato Di Tella.
• Jose Carreno, 2020. "Housing Booms and the U.S. Productivity Puzzle," Working Papers 20-4, Center for Economic Studies, U.S. Census Bureau.
• Mary Amiti & Tyler Bodine-Smith & Michele Cavallo & Logan T. Lewis, 2015. "Did the West Coast Port Dispute Contribute to the First-Quarter GDP Slowdown?," Liberty Street Economics 20150702, Federal Reserve Bank of New York.
• Daniel Schaefer & Carl Singleton, 2020. "Nominal Wage Adjustments and the Composition of Pay: New Evidence from Payroll Data," Economics Discussion Papers em-dp2020-01, Department of Economics, University of Reading.
• Daniele Tavani & Luca Zamparelli, 2020. "Labor-Augmenting Technical Change and the Labor Share: New Microeconomic Foundations," Working Papers 2/20, Sapienza University of Rome, DISS.
• Lei Fang & Anne Hannusch & Pedro Silos, 2020. "Bundling Time and Goods: Implications for Hours Dispersion," DETU Working Papers 2003, Department of Economics, Temple University.
• Ricardo Mariño-Martínez & Carlos León & Carlos Cadena-Silva, 2020. "Las entidades de contrapartida central en la mitigación del riesgo de contraparte y de liquidez: El caso de los derivados cambiarios en Colombia," Borradores de Economia 1101, Banco de la Republica de Colombia.
• Debraj Ray & Dilip Mookherjee, 2020. "Growth, Automation and the Long Run Share of Labor," NBER Working Papers 26658, National Bureau of Economic Research, Inc.
• Brandyn Bok & Marco Del Negro & Domenico Giannone & Marc Giannoni & Eric Qian & Andrea Tambalotti, 2019. "Global Trends in Interest Rates," Liberty Street Economics 20190227, Federal Reserve Bank of New York.
• Schlag, Christian & Thimme, Julian & Weber, Rüdiger, 2020. "Implied Volatility Duration: A measure for the timing of uncertainty resolution," SAFE Working Paper Series 265, Leibniz Institute for Financial Research SAFE.
• Simone Giansante & Mahmoud Fatouh & Steven Ongena, 2019. "Does Quantitative Easing Boost Bank Lending to the Real Economy or Cause Other Bank Asset Reallocation? The Case of the UK," Swiss Finance Institute Research Paper Series 19-72, Swiss Finance Institute.
• International Monetary Fund, 2020. "Kenya; Fiscal Transparency Evaluation Update," IMF Staff Country Reports 20/2, International Monetary Fund.
• Kose,Ayhan & Ohnsorge,Franziska Lieselotte & Sugawara,Naotaka, 2018. "Fiscal Space : Concept, Measurement, and Policy Implications," Research and Policy Briefs 132195, The World Bank.
• Gary B. Gorton, 2020. "Private Money Production without Banks," NBER Working Papers 26663, National Bureau of Economic Research, Inc.
• Ahmed, Rashad, 2019. "Commodity Currencies and Causality: Some High-Frequency Evidence," MPRA Paper 98319, University Library of Munich, Germany, revised 25 Jan 2020.
• Gauti Eggertsson & Sergey K. Egiev & Alessandro Lin & Josef Platzer & Luca Riva, 2020. "A Toolkit for Solving Models with a Lower Bound on Interest Rates of Stochastic Duration," Working Papers 2020-14, Brown University, Department of Economics.
• Apostolos Serletis & Cosmas Dery, "undated". "Interest Rates, Money, and Economic Activity," Working Papers 2019-16, Department of Economics, University of Calgary, revised 08 Oct 2019.
• Ilan Noy & Nguyen Doan & Benno Ferrarini & Donghyun Park, 2019. "Measuring the Economic Risk of Epidemics," CESifo Working Paper Series 8016, CESifo.
• Antoine Mandel & Vipin P Veetil, 2019. "Monetary Dynamics in a Network Economy," Post-Print halshs-02354576, HAL.
• Toma Lankauskiene, 2020. "Productivity growth determinants of differently developed countries: comparative capital input results," Working Papers. Serie EC 2020-02, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
• K. Mohkam & O. Simon, 2019. "L’empreinte matières de l’économie française : une analyse par matière et catégorie de produits," Documents de Travail de l'Insee - INSEE Working Papers g2019-11, Institut National de la Statistique et des Etudes Economiques.
• German Cubas & Chinhui Juhn & Pedro Silos, 2020. "Coordinated Work Schedules and the Gender Wage Gap," DETU Working Papers 2002, Department of Economics, Temple University.
• Oscar Claveria & Ivana Lolic & Enric Monte & Salvador Torra & Petar Soric, 2020. "“Economic determinants of employment sentiment: A socio-demographic analysis for the euro area”," AQR Working Papers 2012001, University of Barcelona, Regional Quantitative Analysis Group, revised Jan 2020.
• Sy Hoa Ho & Jamel Saadaoui, 2019. "Symmetric and asymmetric effects of exchange rates on money demand: Empirical evidence from Vietnam," Working Papers hal-02421007, HAL.
• Harold L. Cole & Dirk Krueger & George J. Mailath & Yena Park, 2020. "Trust in Risk Sharing: A Double-Edged Sword," NBER Working Papers 26667, National Bureau of Economic Research, Inc.
• H. Sohn & Didier Sornette, 2020. "Rational Belief Bubbles," Swiss Finance Institute Research Paper Series 20-05, Swiss Finance Institute.
• Pedro Bento & Diego Restuccia, 2020. "The Role of Nonemployers in Business Dynamism and Aggregate Productivity," Working Papers tecipa-654, University of Toronto, Department of Economics.