Report NEP-MAC-2020-03-16

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:

• Jacopo Bonchi, 2020. "Natural Interest Rate and Asset Price Bubbles: How Bubbles Counteract Low Interest Rates," Working Papers 3/20, Sapienza University of Rome, DISS.
• Omotosho, Babatunde S. & Tumala, Mohammed M., 2019. "A Text Mining Analysis of Central Bank Monetary Policy Communication in Nigeria," MPRA Paper 98850, University Library of Munich, Germany.
• Charles Abuka & Ronnie K. Alinda & Camelia Minoiu & José-Luis Peydró & Andrea F. Presbitero, 2018. "Monetary policy and bank lending in developing countries: loan applications, rates, and real effects," Economics Working Papers 1703, Department of Economics and Business, Universitat Pompeu Fabra.
• Jorge Miranda-Pinto & Daniel P. Murphy & Kieran Walsh & Eric Young, 2020. "Saving Constraints, Debt, and the Credit Market Response to Fiscal Stimulus," Working Papers 20-07, Federal Reserve Bank of Cleveland.
• Tamas Csabafi & Max Gillman & Ruthira Naraidoo, 2020. "Technical Appendix: “International Business Cycle and Financial Intermediationâ€," Working Papers 1017, University of Missouri-St. Louis, Department of Economics.
• Levy, Daniel & Mayer, Tamir & Raviv, Alon, 2020. "Academic Scholarship in Light of the 2008 Financial Crisis: Textual Analysis of NBER Working Papers," MPRA Paper 98785, University Library of Munich, Germany.
• Pascal Paul, 2020. "Banks, Maturity Transformation, and Monetary Policy," Working Paper Series 2020-07, Federal Reserve Bank of San Francisco.
• Michael D. Bauer & Eric T. Swanson, 2020. "The Fed's Response to Economic News Explains the “Fed Information Effect”," Working Paper Series 2020-06, Federal Reserve Bank of San Francisco.
• Ruan Erasmus & Hylton Hollander, 2020. "A Forward Guidance Indicator For The South African Reserve Bank: Implementing A Text Analysis Algorithm," Working Papers 04/2020, Stellenbosch University, Department of Economics.
• Oleksandr Faryna & Tho Pham & Oleksandr Talavera & Andriy Tsapin, 2020. "Wage Setting and Unemployment: Evidence from Online Job Vacancy Data," Economics Discussion Papers em-dp2020-02, Department of Economics, University of Reading.
• Patrick J. Kehoe & Pierlauro Lopez & Virgiliu Midrigan & Elena Pastorino, 2020. "Asset Prices and Unemployment Fluctuations," Working Papers 20-10, Federal Reserve Bank of Cleveland.
• Anttonen, Jetro & Lehmus, Markku & Vihriälä, Vesa, 2020. "Weak Economic Conditions and the Objective of the Government Programme," ETLA Brief 86, The Research Institute of the Finnish Economy.
• Richard K. Crump & Stefano Eusepi, 2016. "What Drives Forecaster Disagreement about Monetary Policy?," Liberty Street Economics 20160815, Federal Reserve Bank of New York.
• Araujo, Luis & Minetti, Raoul & Murro, Pierluigi, 2020. "Relationship Finance, Informed Liquidity, and Monetary Policy," Working Papers 2020-6, Michigan State University, Department of Economics.
• Eiji Goto & Constantin Bürgi, 2020. "Sectoral Okun's Law and Cross-Country Cyclical Differences," CESifo Working Paper Series 8101, CESifo.
• Jesús Fernández-Villaverde & Pablo A. Guerrón-Quintana, 2020. "Uncertainty Shocks and Business Cycle Research," NBER Working Papers 26768, National Bureau of Economic Research, Inc.
• Marco Del Negro & Marc Giannoni & Micah Smith, 2016. "The Macro Effects of the Recent Swing in Financial Conditions," Liberty Street Economics 20160525, Federal Reserve Bank of New York.
• Fonseca, Miguel, 2020. "Fiscal Consolidations: Welfare Effects of the Adjustment Speed," MPRA Paper 98902, University Library of Munich, Germany, revised 02 Mar 2020.
• Argia M. Sbordone & Sara Shahanaghi, 2015. "How Much Do Inflation Expectations Matter for Inflation Dynamics?," Liberty Street Economics 20150923, Federal Reserve Bank of New York.
• Daphne Chen & Fatih Guvenen & Gueorgui Kambourov & Burhanettin Kuruscu & Sergio Ocampo, 2019. "Use it or Lose it: Efficiency Gains from Wealth Taxation," Working Papers 764, Federal Reserve Bank of Minneapolis.
• Mehdi El Herradi & Aurelien Leroy, 2020. "Monetary policy and the top one percent: Evidence from a century of modern economic history," Working Papers 519, ECINEQ, Society for the Study of Economic Inequality.
• Kazumichi Iwasa & Kazuo Nishimaura, 2020. "Time Preference and International Trade," Discussion Paper Series DP2020-10, Research Institute for Economics & Business Administration, Kobe University.
• Gara Afonso & Marco Cipriani & Adam Copeland & Anna Kovner & Gabriele La Spada & Antoine Martin, 2020. "The Market Events of Mid-September 2019," Staff Reports 918, Federal Reserve Bank of New York.
• Christian Breuer & Chang Woon Nam, 2020. "Fiscal Consolidation and the Current Account: OECD Evidence," CESifo Working Paper Series 8071, CESifo.
• International Monetary Fund, 2020. "Japan; 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Japan," IMF Staff Country Reports 20/39, International Monetary Fund.
• Pedro Brinca & Bruno Freitas & Margarida Mano, 2020. "Labor Share Heterogeneity and Fiscal Consolidation Programs," CeBER Working Papers 2020-04, Centre for Business and Economics Research (CeBER), University of Coimbra.
• Raquel Fonseca & Simon Lord & Simon C. Parker, 2020. "Self-Employment at Older Ages in Canada," CIRANO Working Papers 2020s-11, CIRANO.
• James J. McAndrews & Donald P. Morgan & James Vickery, 2012. "What’s Driving Up Money Growth?," Liberty Street Economics 20120523, Federal Reserve Bank of New York.
• Gianluca Benigno & Luca Fornaro, 2019. "The Keynesian Growth Approach to Macroeconomic Policy and Productivity," Liberty Street Economics 20190401, Federal Reserve Bank of New York.
• Balduzzi, Pierluigi & Brancati, Emanuele & Brianti, Marco & Schiantarelli, Fabio, 2020. "Populism, Political Risk and the Economy: Lessons from Italy," IZA Discussion Papers 12929, Institute of Labor Economics (IZA).
• Ha, Jongrim & Kose, M. Ayhan & Otrok, Christopher & Prasad, Eswar, 2020. "Global Macro-Financial Cycles and Spillovers," IZA Discussion Papers 13000, Institute of Labor Economics (IZA).
• Jongrim Ha & M. Ayhan Kose & Christopher Otrok & Eswar S. Prasad, 2020. "Global Macro-Financial Cycles and Spillovers," Koç University-TUSIAD Economic Research Forum Working Papers 2004, Koc University-TUSIAD Economic Research Forum.
• Vito Polito, 2020. "Nonlinear Business Cycle and Optimal Policy: A VSTAR Perspective," CESifo Working Paper Series 8060, CESifo.
• Jan J. J. Groen & Patrick Russo, 2015. "The Myth of First-Quarter Residual Seasonality," Liberty Street Economics 20150608a, Federal Reserve Bank of New York.
• Efayena, Obukohwo Oba & Olele, Hilda Enoh, 2020. "A Validation of the Phillips Curve Hypothesis in Nigeria: A Quarterly Data-Based Approach," MPRA Paper 98804, University Library of Munich, Germany.
• Karsten Kohler & Engelbert Stockhammer, 2020. "Growing differently? Financial cycles, austerity, and competitiveness in growth models since the Global Financial Crisis," Working Papers PKWP2008, Post Keynesian Economics Society (PKES).
• Helene Lee & Asani Sarkar, 2017. "The Role of Central Bank Lending Facilities in Monetary Policy," Liberty Street Economics 20170630, Federal Reserve Bank of New York.
• Tanaka, Yasuhito, 2020. "非分割的な労働供給のもとでの非自発的失業の存在 - 単純な世代重複完全競争モデルによって - [The existence of involuntary unemployment under indivisible labor supply - By simple overlapping perfect competition model -]," MPRA Paper 98904, University Library of Munich, Germany.
• Oliver Rehbein & Steven Ongena, 2020. "Flooded through the back door: The role of bank capital in local shock spillovers," Swiss Finance Institute Research Paper Series 20-07, Swiss Finance Institute.
• AMAN, Moustapha, 2018. "Les sphères d’influence dans les régimes monétaires : l’expérience de la Corne de l’Afrique (1860-1950) [Spheres of influence in monetary regimes: the experience of the Horn of Africa (1860-1950)]," MPRA Paper 98815, University Library of Munich, Germany.
• Emil Verner & Győző Gyöngyösi, 2020. "Household Debt Revaluation and the Real Economy: Evidence from a Foreign Currency Debt Crisis," MNB Working Papers 2020/2, Magyar Nemzeti Bank (Central Bank of Hungary).
• Seon Tae Kim & Alessandro Marchesiani, 2020. "Market Intelligence Gathering and Money Demand," Working Papers 202004, University of Liverpool, Department of Economics.
• Gara Afonso & Fabiola Ravazzolo & Alessandro Zori, 2019. "From Policy Rates to Market Rates—Untangling the U.S. Dollar Funding Market," Liberty Street Economics 20190708, Federal Reserve Bank of New York.
• Markus Heinrich & Magnus Reif, 2020. "Real-Time Forecasting Using Mixed-Frequency VARS with Time-Varying Parameters," CESifo Working Paper Series 8054, CESifo.
• Tanaka, Yasuhito, 2020. "非自発的失業の存在 - 単純な世代重複完全競争モデルによって - [The existence of unemployment - By a simple overlapping generations perfect competition model -]," MPRA Paper 98905, University Library of Munich, Germany.
• Boriss Siliverstovs & Daniel Wochner, 2020. "Recessions as Breadwinner for Forecasters State-Dependent Evaluation of Predictive Ability: Evidence from Big Macroeconomic US Data," Working Papers 2020/02, Latvijas Banka.
• Jonathan McCarthy, 2017. "Discretionary Services Spending Has Finally Made It Back (to 2007)," Liberty Street Economics 20171016, Federal Reserve Bank of New York.
• Huidrom,Raju & Kose,Ayhan & Lim,Jamus Jerome & Ohnsorge,Franziska Lieselotte, 2019. "Why Do Fiscal Multipliers Depend on Fiscal Positions?," Policy Research Working Paper Series 8784, The World Bank.
• Sun, Lixin, 2019. "China’s Debt Revisited," MPRA Paper 98796, University Library of Munich, Germany.
• Florian Exler & Michèle Tertilt, 2020. "Consumer Debt and Default: A Macro Perspective," CESifo Working Paper Series 8105, CESifo.
• Hanming Fang & Yongqin Wang & Xian Wu, 2020. "The Collateral Channel of Monetary Policy: Evidence from China," PIER Working Paper Archive 20-008, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
• Renee Fry-McKibbin & Rodrigo da Silva Souza, 2020. "Disentangling commodity demand, commodity supply, and international liquidity shocks on an emerging market," CAMA Working Papers 2020-18, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
• Radek Šauer, 2020. "Rotemberg and Imperfect Common Knowledge: A Solution Algorithm," CESifo Working Paper Series 8098, CESifo.
• Ozge Akinci & Albert Queraltó, 2017. "Financial Crises and the Desirability of Macroprudential Policy," Liberty Street Economics 20170410, Federal Reserve Bank of New York.
• Jan J. J. Groen, 2014. "Global Asset Prices and Taper Tantrum Revisited," Liberty Street Economics 20141208, Federal Reserve Bank of New York.
• Laser, Falk Hendrik & Weidner, Jan, 2020. "Currency compositions of international reserves and the euro crisis," Darmstadt Discussion Papers in Economics 238, Darmstadt University of Technology, Department of Law and Economics.
• Laura Lipscomb & Antoine Martin & Heather Wiggins, 2017. "Why Pay Interest on Required Reserve Balances?," Liberty Street Economics 20170925, Federal Reserve Bank of New York.
• Ha,Jongrim & Stocker,Marc & Yilmazkuday,Hakan, 2019. "Inflation and Exchange Rate Pass-Through," Policy Research Working Paper Series 8780, The World Bank.
• Linda S. Goldberg & David R. Skeie, 2011. "Why Did U.S. Branches of Foreign Banks Borrow at the Discount Window during the Crisis?," Liberty Street Economics 20110413, Federal Reserve Bank of New York.
• Andrejs Bessonovs & Olegs Krasnopjorovs, 2020. "Short-Term Inflation Projections Model and Its Assessment in Latvia," Working Papers 2020/01, Latvijas Banka.
• Jiri Panos & Petr Polak, 2019. "How to Improve the Model Selection Procedure in a Stress-testing Framework," Working Papers 2019/9, Czech National Bank.
• Ozge Akinci, 2016. "International Evidence on the Use and Effectiveness of Macroprudential Policies," Liberty Street Economics 20160518, Federal Reserve Bank of New York.
• Grömling, Michael & Hüther, Michael & Beznoska, Martin & Demary, Markus, 2020. "Wirtschaftspolitische Antworten auf die Corona-Krise: Liquidität hat Vorrang!," IW policy papers 4/2020, Institut der deutschen Wirtschaft (IW) / German Economic Institute.
• Nasir, Nur Alissa & Masih, Mansur, 2018. "Are the stock indices of FTSE Malaysia, China and USA causally linked together ?," MPRA Paper 98782, University Library of Munich, Germany.
• Antoine Martin & Sam Schulhofer-Wohl, 2018. "How Do the Fed's MBS Purchases Affect Credit Allocation?," Liberty Street Economics 20180806, Federal Reserve Bank of New York.
• Kankanamge, Sumudu & Gaillard, Alexandre, 2020. "Buying and Selling Entrepreneurial Assets," TSE Working Papers 20-1078, Toulouse School of Economics (TSE).
• Jean-Bernard Chatelain & Kirsten Ralf, 2020. "Ramsey Optimal Policy versus Multiple Equilibria with Fiscal and Monetary Interactions," Post-Print hal-02471593, HAL.
• Kose,Ayhan & Matsuoka,Hideaki & Panizza,Ugo G. & Vorisek,Dana Lauren, 2019. "Inflation Expectations : Review and Evidence," Policy Research Working Paper Series 8785, The World Bank.
• Olivier Coibion & Dimitris Georgarakos & Yuriy Gorodnichenko & Michael Weber, 2020. "Forward Guidance and Household Expectations," NBER Working Papers 26778, National Bureau of Economic Research, Inc.
• Michaelides, Panayotis G. & Tsionas, Efthymios G. & Konstantakis, Konstantinos N., 2018. "Debt dynamics in Europe: a network general equilibrium GVAR approach," LSE Research Online Documents on Economics 86865, London School of Economics and Political Science, LSE Library.
• Richard Peach & Charles Steindel, 2017. "Low Productivity Growth: The Capital Formation Link," Liberty Street Economics 20170626, Federal Reserve Bank of New York.
• Selva Bahar Baziki & Tanju Capacioglu, 2020. "Bank Lending and Maturity: the Anatomy of the Transmission of Monetary Policy," Working Papers 2005, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
• Michael Fosco & Thomas Klitgaard, 2018. "Recycling Oil Revenue," Liberty Street Economics 20180514, Federal Reserve Bank of New York.
• International Monetary Fund, 2020. "Kingdom of Eswatini; 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Kingdom of Eswatini," IMF Staff Country Reports 20/41, International Monetary Fund.
• M. Ayhan Kose & Franziska Ohnsorge, 2020. "Emerging and Developing Economies: Ten Years After the Global Recession," Koç University-TUSIAD Economic Research Forum Working Papers 2005, Koc University-TUSIAD Economic Research Forum.
• Gregor Jarosch & Laura Pilossoph, 2016. "The Reluctance of Firms to Interview the Long-Term Unemployed," Liberty Street Economics 20160803, Federal Reserve Bank of New York.
• Gokmen, Gunes & Nannicini, Tommaso & Onorato, Massimiliano Gaetano & Papageorgiou, Chris, 2020. "Policies in Hard Times: Assessing the Impact of Financial Crises on Structural Reforms," IZA Discussion Papers 12932, Institute of Labor Economics (IZA).
• Mariño-Martínez, Ricardo & León, Carlos & Cadena-Silva, Carlos, 2020. "Las entidades de contrapartida central en la mitigación del riesgo de contraparte y de liquidez: El caso de los derivados cambiarios en Colombia," Working papers 33, Red Investigadores de Economía.
• James B. Bullard, 2019. "The FOMC’s Substantial Turn during 2019," Speech 87538, Federal Reserve Bank of St. Louis.
• Gimenez-Nadal, José Ignacio & Molina, José Alberto & Velilla, Jorge, 2020. "Short- vs Long-Term Intergenerational Correlations of Employment and Self-Employment in Europe," IZA Discussion Papers 12933, Institute of Labor Economics (IZA).
• Jason Bram & James A. Orr, 2011. "The Great Recession and Recovery in the Tri-State Region," Liberty Street Economics 20110509b, Federal Reserve Bank of New York.
• Emily Eisner & Antoine Martin & Ylva Søvik, 2016. "What Is the Composition of Central Bank Balance Sheets in Normal Times?," Liberty Street Economics 20160203, Federal Reserve Bank of New York.
• Jason Bram & James A. Orr, 2013. "States Are Recovering Lost Jobs at Surprisingly Similar Rates," Liberty Street Economics 20130626, Federal Reserve Bank of New York.
• International Monetary Fund, 2020. "Philippines; 2019 Article IV Consultation-Press Release; and Staff Report," IMF Staff Country Reports 20/36, International Monetary Fund.
• Donald P. Morgan & James Narron, 2014. "Crisis Chronicles: The Crisis of 1816, the Year without a Summer, and Sunspot Equilibira," Liberty Street Economics 20141003, Federal Reserve Bank of New York.
• Ozge Akinci & Ryan Chahrour, 2018. "Good News, Leverage, and Sudden Stops," Liberty Street Economics 20180530, Federal Reserve Bank of New York.
• Nicola Pierri & Yannick Timmer, 2020. "Tech in Fin before FinTech: Blessing or Curse for Financial Stability?," CESifo Working Paper Series 8067, CESifo.
• Fatih Karahan & Brendan Moore & Laura Pilossoph, 2019. "Expecting the Unexpected: Job Losses and Household Spending," Liberty Street Economics 20190327, Federal Reserve Bank of New York.
• Jiaqian Chen & Lucyna Gornicka, 2020. "Measuring Output Gap: Is It Worth Your Time?," IMF Working Papers 20/24, International Monetary Fund.
• Loretta J. Mester, 2020. "An Update on the U.S. Economy and the Federal Reserve’s Review of Its Monetary Policy Framework; 03.03.2020; The Society of Professional Economists, Annual Dinner, London, United Kingdom," Speech 87587, Federal Reserve Bank of Cleveland.
• Winfried Koeniger & Carlo Zanella, 2020. "Opportunity and Inequality across Generations," CESifo Working Paper Series 8099, CESifo.
• Nils Mæhle, 2020. "Monetary Policy Implementation: Operational Issues for Countries with Evolving Monetary Policy Frameworks," IMF Working Papers 20/26, International Monetary Fund.
• Antoine Monserand, 2020. "A note on "zero growth and structural change in a post Keynesian growth model"," Post-Print hal-02453306, HAL.
• International Monetary Fund, 2020. "Cameroon; Fifth Review Under the Extended Credit Facility Arrangement and Request for a Waiver of Nonobservance of a Performance Criterion and Modification Performance Criteria-Press Release; Staff Re," IMF Staff Country Reports 20/48, International Monetary Fund.
• Simplice A. Asongu & Paul N. Acha-Anyi, 2020. "Enhancing ICT for Productivity in Sub-Saharan Africa: Thresholds for Complementary Policies," Working Papers 20/008, European Xtramile Centre of African Studies (EXCAS).
• Carsten A. Holz, 2020. "Understanding PRC Investment Statistics," CESifo Working Paper Series 8110, CESifo.
• Udi Joshua & Oladimeji M. Salami & Andrew A. Alola, 2020. "Toward the path of Economic Expansion in Nigeria: The Role of Trade Globalization," Working Papers 20/009, European Xtramile Centre of African Studies (EXCAS).
• Patrick Lehnert & Michael Niederberger & Uschi Backes-Gellner & Eric Bettinger, 2020. "Proxying Economic Activity with Daytime Satellite Imagery: Filling Data Gaps Across Time and Space," Economics of Education Working Paper Series 0165, University of Zurich, Department of Business Administration (IBW), revised Sep 2022.
• Ursu, Ana, 2019. "Agrarian Economy and Rural Development - Realities and Perspectives for Romania," MPRA Paper 98745, University Library of Munich, Germany.
• Mogaji, Peter Kehinde, 2019. "Validity Assessments of International Parity in the ‘Ecozone’: Implications for Monetary Models of Exchange Rate Determination," MPRA Paper 98945, University Library of Munich, Germany.
• Jayasooriya, Sujith, 2020. "Movement of Exchange Rate on Balance-of-Payments Constrained Growth in South Asia: Panel ARDL," MPRA Paper 98733, University Library of Munich, Germany.