Report NEP-MAC-2020-03-23

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:

• Petr Polak & Jiri Panos, 2019. "The Impact of Expectations on IFRS 9 Loan Loss Provisions," Research and Policy Notes 2019/03, Czech National Bank.
• Narayana R. Kocherlakota, 2020. "21st Century Macro," NBER Working Papers 26791, National Bureau of Economic Research, Inc.
• Patrick J. Kehoe & Pierlauro Lopez & Virgiliu Midrigan & Elena Pastorino, 2020. "Asset Prices and Unemployment Fluctuations," Staff Report 591, Federal Reserve Bank of Minneapolis.
• Fabio Massimo Piersanti & Patrizio Tirelli, 2020. "Endogenous Productivity Dynamics in a Two-Sector Business Cycle Model," Working Papers 434, University of Milano-Bicocca, Department of Economics, revised Feb 2020.
• Shekhar Hari Kumar & Aakriti Mathur, 2020. "A fistful of dollars: Transmission of global funding shocks to EMs," IHEID Working Papers 04-2020, Economics Section, The Graduate Institute of International Studies, revised 08 Feb 2021.
• Christoph Boehm & Nitya Pandalai-Nayar, 2020. "Convex Supply Curves," NBER Working Papers 26829, National Bureau of Economic Research, Inc.
• Paul Hubert & Fabien Labondance, 2020. "Central Bank Tone and the Dispersion of Views within Monetary Policy Committees," Documents de Travail de l'OFCE 2020-02, Observatoire Francais des Conjonctures Economiques (OFCE).
• Matthias Meier, 2020. "Supply Chain Disruptions, Time to Build, and the Business Cycle," CRC TR 224 Discussion Paper Series crctr224_2020_160, University of Bonn and University of Mannheim, Germany.
• Servaas Storm, 2019. "The Secular Stagnation of Productivity Growth," Working Papers Series 108, Institute for New Economic Thinking.
• Lucrezia Reichlin & Giovanni Ricco & Thomas Hasenzagl, 2020. "Financial Variables as Predictors of Real Growth Vulnerability," Documents de Travail de l'OFCE 2020-06, Observatoire Francais des Conjonctures Economiques (OFCE).
• Martin F. Hellwig, 2020. "Dynamic Inefficiency and Fiscal Interventions in an Economy with Land and Transaction Costs," Discussion Paper Series of the Max Planck Institute for Research on Collective Goods 2020_07, Max Planck Institute for Research on Collective Goods, revised 17 May 2021.
• Beirne, John, 2019. "Financial Cycles in Asset Markets and Regions," ADBI Working Papers 1052, Asian Development Bank Institute.
• Peter Bednarek & Daniel Marcel te Kaat & Chang Ma & Alessandro Rebucci, 2020. "Capital Flows, Real Estate, and Local Cycles: Evidence from German Cities, Banks, and Firms," NBER Working Papers 26820, National Bureau of Economic Research, Inc.
• Rybacki, Jakub, 2020. "Polish GDP Forecast Errors: A Tale of Ineffectiveness," MPRA Paper 98952, University Library of Munich, Germany.
• Neifar, Malika, 2020. "Employment-output elasticities determinants: case of cross-section from AMEE," MPRA Paper 98961, University Library of Munich, Germany.
• Michael D. Cai & Marco Del Negro & Edward P. Herbst & Ethan Matlin & Reca Sarfati & Frank Schorfheide, 2020. "Online Estimation of DSGE Models," NBER Working Papers 26826, National Bureau of Economic Research, Inc.
• Thorsten Drautzburg & Jesús Fernández-Villaverde & Pablo Guerrón-Quintana, 2020. "Bargaining Shocks and Aggregate Fluctuations," Working Papers 20-11, Federal Reserve Bank of Philadelphia.
• Hanming Fang & Yongqin Wang & Xian Wu, 2020. "The Collateral Channel of Monetary Policy: Evidence from China," NBER Working Papers 26792, National Bureau of Economic Research, Inc.
• Hardik A. Marfatia & Rangan Gupta & Keagile Lesame, 2020. "Dynamic Impact of Unconventional Monetary Policy on International REITs," Working Papers 202020, University of Pretoria, Department of Economics.
• Adam M. Guren & Alisdair McKay & Emi Nakamura & Jón Steinsson, 2020. "Housing Wealth Effects: The Long View," Staff Report 593, Federal Reserve Bank of Minneapolis.
• Chung, Federico & Purkey, Liam & Solis-Garcia, Mario, 2020. "Measuring the size of the shadow economy using a dynamic general equilibrium model with trends: a new dataset," MPRA Paper 98963, University Library of Munich, Germany.
• Kenneth D. Garbade, 2011. "Will “Quantitative Easing” Trigger Inflation?," Liberty Street Economics 20110608, Federal Reserve Bank of New York.
• Jordi Galí, 2020. "Monetary Policy and Bubbles in a New Keynesian Model with Overlapping Generations," NBER Working Papers 26796, National Bureau of Economic Research, Inc.
• M.Ayhan Kose & Peter S. O. Nagle & Franziska L. Ohnsorge & Naotaka Sugawara, 2020. "Can this time be different? Policy options in times of rising debt," CAMA Working Papers 2020-23, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
• Jongrim Ha & M. Ayhan Kose & Christopher Otrok & Eswar S. Prasad, 2020. "Global Macro-Financial Cycles and Spillovers," NBER Working Papers 26798, National Bureau of Economic Research, Inc.
• Younus, Rijja Ali & Yucel, Eray, 2020. "Exchange Rate Pass-Through in Pakistan," MPRA Paper 98955, University Library of Munich, Germany.
• Carlos Carvalho & Stefano Eusepi & Emanuel Moench & Bruce Preston, 2020. "Anchored inflation expectations," CAMA Working Papers 2020-25, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
• Francesco D’Acunto & Ulrike Malmendier & Michael Weber, 2020. "Gender Roles and the Gender Expectations Gap," NBER Working Papers 26837, National Bureau of Economic Research, Inc.
• Efraim Benmelech & Nitish Kumar & Raghuram Rajan, 2020. "The Secured Credit Premium and the Issuance of Secured Debt," NBER Working Papers 26799, National Bureau of Economic Research, Inc.
• Firmin Doko Tchatoka & Lauren Slinger & Virginie Masson, 2020. "Revisiting empirical studies on the liquidity effect: An identication-robust approach," School of Economics and Public Policy Working Papers 2020-02, University of Adelaide, School of Economics and Public Policy.
• Jonathan McCarthy, 2014. "The Slow Recovery in Consumer Spending," Liberty Street Economics 20140806, Federal Reserve Bank of New York.
• André Icard & Philip Turner, 2019. "Managing Global Liquidity as a Global Public Good. A Report of an RTI Working Party," Working Papers 1293, Robert Triffin International.
• Neifar, Malika, 2020. "Employment-output elasticities determinants: is there difference between Francophone and Anglophone countries from AMEE ?," MPRA Paper 98966, University Library of Munich, Germany.
• Charles R. Hulten & Leonard I. Nakamura, 2020. "Expanded GDP for Welfare Measurement in the 21st Century," Working Papers 20-10, Federal Reserve Bank of Philadelphia.
• Emily Eisner & Antoine Martin & Ylva Søvik, 2016. "Standard Elements of a Monetary Policy Implementation Framework," Liberty Street Economics 20160201, Federal Reserve Bank of New York.
• Jonathan McCarthy, 2011. "Discretionary Services Expenditures in This Business Cycle," Liberty Street Economics 20110706, Federal Reserve Bank of New York.
• Cristina Fernández, 2019. "Empleo y emprendimiento en Bogotá," Informes de Investigación 17931, Fedesarrollo.
• Helene Lee & Asani Sarkar, 2017. "Counterparty and Collateral Policies of Central Bank Lending Facilities," Liberty Street Economics 20170816, Federal Reserve Bank of New York.
• M. Ayhan Kose & Franziska Ohnsorge & Naotaka Sugawara, 2020. "Benefits and Costs of Debt: The Dose Makes the Poison," Koç University-TUSIAD Economic Research Forum Working Papers 2006, Koc University-TUSIAD Economic Research Forum.
• Rice, Jonathan, 2020. "Economic Policy Uncertainty in Small Open Economies: a Case Study in Ireland," Research Technical Papers 01/RT/20, Central Bank of Ireland.
• Xiao, Bowen & Guo, Xiaodan & Fan, Ying & Voigt, Sebastian & Cui, Lianbiao, 2020. "Climate policies under dynamic international economic cycles: A heterogeneous countries DSGE model," ZEW Discussion Papers 20-011, ZEW - Leibniz Centre for European Economic Research.
• Jan J. J. Groen & Menno Middeldorp, 2013. "Creating a History of U.S. Inflation Expectations," Liberty Street Economics 20130821, Federal Reserve Bank of New York.
• Tomoyuki Nakajima & Shuhei Takahashi, 2020. "On the Non-Existence of a Zero-Tax Steady State with Incomplete Asset Markets," KIER Working Papers 1025, Kyoto University, Institute of Economic Research.
• Deborah Leonard & Antoine Martin & Jennifer Wolgemuth, 2017. "A Closer Look at the Fed’s Balance Sheet Accounting," Liberty Street Economics 20170804, Federal Reserve Bank of New York.
• David O. Lucca & Ernst Schaumburg, 2011. "What to Make of Market Measures of Inflation Expectations?," Liberty Street Economics 20110815, Federal Reserve Bank of New York.
• Exler, Florian & Tertilt, Michèle, 2020. "Consumer Debt and Default: A Macro Perspective," IZA Discussion Papers 12966, Institute of Labor Economics (IZA).
• Ha,Jongrim & Kose,Ayhan & Ohnsorge,Franziska Lieselotte, 2019. "Understanding Inflation in Emerging and Developing Economies," Policy Research Working Paper Series 8761, The World Bank.
• Cristina Arellano & Yan Bai & Gabriel Mihalache, 2020. "Monetary Policy and Sovereign Risk in Emerging Economies (NK-Default)," Staff Report 592, Federal Reserve Bank of Minneapolis.
• Jordi Galí, 2020. "Uncovered Interest Parity, Forward Guidance, and the Exchange Rate," NBER Working Papers 26797, National Bureau of Economic Research, Inc.
• Nóbrega, Valter, 2020. "Optimal Taxation and Investment-Specific Technological Change," MPRA Paper 98917, University Library of Munich, Germany.
• Helene Lee & Asani Sarkar, 2018. "Is Stigma Attached to the European Central Bank's Marginal Lending Facility?," Liberty Street Economics 20180416, Federal Reserve Bank of New York.
• John C. Haltiwanger & James R. Spletzer, 2020. "Between Firm Changes in Earnings Inequality: The Dominant Role of Industry Effects," NBER Working Papers 26786, National Bureau of Economic Research, Inc.
• Perry Mehrling, 2020. "Payment vs. Funding: The Law of Reflux for Today," Working Papers Series 113, Institute for New Economic Thinking.
• Antoine Martin & Sam Schulhofer-Wohl, 2018. "How Do the Fed's MBS Holdings Affect the Economy?," Liberty Street Economics 20180808, Federal Reserve Bank of New York.
• Gara M. Afonso, 2012. "Why (or Why Not) Keep Paying Interest on Excess Reserves?," Liberty Street Economics 20121203, Federal Reserve Bank of New York.
• Alexius, Annika & Lundholm, Michael & Nielsen, Linnea, 2020. "Is the Phillips curve dead? International evidence," Research Papers in Economics 2020:1, Stockholm University, Department of Economics.
• Nina Boyarchenko & Sooji Kim & Matthew Plosser, 2015. "The Effect of Fed Funds Rate Hikes on Consumer Borrowing Costs," Liberty Street Economics 20151221, Federal Reserve Bank of New York.
• Mark Harris & Hervé Le Bihan & Patrick Sevestre, 2020. "Identifying Price Reviews by Firms: An Econometric Approach," Post-Print hal-02417497, HAL.
• Maxim L. Pinkovskiy, 2015. "A Discussion of Thomas Piketty's Capital in the Twenty-First Century: Does More Capital Increase Inequality?," Liberty Street Economics 20150715, Federal Reserve Bank of New York.
• Alexander Dobrinevski & Raphaël Jachnik, 2020. "Exploring options to measure the climate consistency of real economy investments: The manufacturing industries of Norway," OECD Environment Working Papers 159, OECD Publishing.
• Giovanni Dosi & Richard B. Freeman & Marcelo C. Pereira & Andrea Roventini & Maria Enrica Virgillito, 2020. "The Impact of Deunionization on the Growth and Dispersion of Productivity and Pay," Documents de Travail de l'OFCE 2020-05, Observatoire Francais des Conjonctures Economiques (OFCE).
• Dean Corbae & Pablo D'Erasmo, 2020. "Rising Bank Concentration," Staff Report 594, Federal Reserve Bank of Minneapolis.
• Greg Kaplan & Piotr Zoch, 2020. "Markups, Labor Market Inequality and the Nature of Work," NBER Working Papers 26800, National Bureau of Economic Research, Inc.
• Emily Eisner & Antoine Martin & Ylva Søvik, 2016. "How Do Central Bank Balance Sheets Change in Times of Crisis?," Liberty Street Economics 20160204, Federal Reserve Bank of New York.
• Kenneth D. Garbade & James J. McAndrews, 2015. "Interest-Bearing Securities When Interest Rates are Below Zero," Liberty Street Economics 20150504, Federal Reserve Bank of New York.
• Kyle F. Herkenhoff & Gordon Phillips, 2020. "How Does Credit Access Affect Job-Search Outcomes and Sorting?," Liberty Street Economics 20200304d, Federal Reserve Bank of New York.
• Huang, Bihong & Punzi, Maria Teresa & Wu, Yu, 2019. "Do Banks Price Environmental Risk? Evidence from a Quasi Natural Experiment in the People’s Republic of China," ADBI Working Papers 974, Asian Development Bank Institute.
• de Pedraza, Pablo & Guzi, Martin & Tijdens, Kea, 2020. "Life Satisfaction of Employees, Labour Market Tightness and Matching Efficiency," IZA Discussion Papers 12961, Institute of Labor Economics (IZA).
• Rabhi, Ayoub & Haoudi, Amina, 2020. "Pré-évaluation de la participation du Maroc à l’union monétaire de la CEDEAO [Pre-assessment of Morocco's participation in the ECOWAS monetary union]," MPRA Paper 98978, University Library of Munich, Germany.
• Yueran Ma & Tiziano Ropele & David Sraer & David Thesmar, 2020. "A Quantitative Analysis of Distortions in Managerial Forecasts," NBER Working Papers 26830, National Bureau of Economic Research, Inc.
• Peter Bauer & Igor Fedotenkov & Aurelien Genty & Issam Hallak & Peter Harasztosi & David Martinez Turegano & David Nguyen & Nadir Preziosi & Ana Rincon-Aznar & Miguel Sanchez Martinez, 2020. "Productivity in Europe: Trends and drivers in a service-based economy," JRC Research Reports JRC119785, Joint Research Centre.
• Ryo Kato & Takayuki Tsuruga, 2020. "Pecuniary Externalities, Bank Overleverage, and Macroeconomic Fragility," ISER Discussion Paper 1078, Institute of Social and Economic Research, Osaka University.
• Coibion, Olivier & Georgarakos, Dimitris & Gorodnichenko, Yuriy & Weber, Michael, 2020. "Forward Guidance and Household Expectations," IZA Discussion Papers 12979, Institute of Labor Economics (IZA).
• Michael Abrahams, 2012. "Federal Reserve Liquidity Facilities Gross $22 Billion for U.S. Taxpayers," Liberty Street Economics 20121107, Federal Reserve Bank of New York.
• Matthieu Lemoine & Harri Turunen & Mohammed Chahad & Antoine Lepetit & Anastasia Zhutova & Pierre Aldama & Pierrick Clerc & Jean-Pierre Laffargue, 2019. "The FR-BDF Model and an Assessment of Monetary Policy Transmission in France, Working Paper Series no. 736, Banque de France," Working Papers hal-02400611, HAL.
• Jason Bram & James A. Orr, 2011. "New York City’s Economic Recovery—Main Street Gets the Jump on Wall Street," Liberty Street Economics 20110502, Federal Reserve Bank of New York.
• Donald P. Morgan, 2012. "Is the 2005 Bankruptcy Reform Working?," Liberty Street Economics 20120604, Federal Reserve Bank of New York.
• Jeffrey Levine & Asani Sarkar, 2019. "Large Bank Cash Balances and Liquidity Regulations," Liberty Street Economics 20190715, Federal Reserve Bank of New York.
• Glyn Wittwer, 2020. "Estimating the Regional Economic Impacts of the 2017 to 2019 Drought on NSW and the Rest of Australia," Centre of Policy Studies/IMPACT Centre Working Papers g-297, Victoria University, Centre of Policy Studies/IMPACT Centre.
• Hunter L. Clark & Thomas Klitgaard, 2018. "Will Demographic Headwinds Hobble China's Economy?," Liberty Street Economics 20180815, Federal Reserve Bank of New York.
• Guglielmo Maria Caporale & Woo-Young Kang & Fabio Spagnolo & Nicola Spagnolo, 2020. "Cyber-Attacks, Cryptocurrencies, and Cyber Security," CESifo Working Paper Series 8124, CESifo.
• Anqi Chen & Wenliang Hou & Alicia H. Munnell, 2020. "Why Do Late Boomers Have So Little Retirement Wealth?," Issues in Brief 2020-4, Center for Retirement Research.
• Sinem Kilic Celik & M.Ayhan Kose & Franziska L. Ohnsorge, 2020. "Subdued potential growth: Sources and remedies," CAMA Working Papers 2020-24, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
• Edmond Berisha & David Gabauer & Rangan Gupta & Chi Keung Marco Lau, 2020. "Time-Varying Influence of Household Debt on Inequality in United Kingdom," Working Papers 202017, University of Pretoria, Department of Economics.
• Tobias Adrian & Michael J. Fleming & Or Shachar, 2017. "Market Liquidity after the Financial Crisis," Liberty Street Economics 20170628, Federal Reserve Bank of New York.
• Bruno Ducoudré & Paul Hubert & Guilhem Tabarly, 2020. "The state-dependence of output revisions," Documents de Travail de l'OFCE 2020-04, Observatoire Francais des Conjonctures Economiques (OFCE).
• Javier G. Gómez-Pineda, 2018. "Volatility Spillovers and the Global Financial Cycle Across Economies: Evidence from a Global Semi-Structural Model," IHEID Working Papers 13-2018, Economics Section, The Graduate Institute of International Studies, revised 03 Mar 2020.
• María I. Agudelo & Camila V. Moreno, 2019. "Institucionalidad del financiamiento agropecuario," Informes de Investigación 17933, Fedesarrollo.
• Robert J. Shiller, 2020. "Popular Economic Narratives Advancing the Longest U.S. Economic Expansion 2009-2019," Cowles Foundation Discussion Papers 2223, Cowles Foundation for Research in Economics, Yale University.
• Giovanni Mandras & Andrea Conte & Simone Salotti, 2020. "An Input-Output sectorial analysis of North Macedonia," JRC Research Reports JRC119971, Joint Research Centre.
• Kyriacou, Andreas P. & Okabe, Tomohito & 岡部, 智人 & Roca-Sagalés, Oriol, 2020. "Conditional Political Budget Cycles: A Reconsideration of the Role of Economic Development," Discussion Paper Series 709, Institute of Economic Research, Hitotsubashi University.
• Antoine Martin & Patricia C. Mosser & Julie Remache, 2016. "Implementing Monetary Policy Post-Crisis: What Do We Need to Know?," Liberty Street Economics 20160715, Federal Reserve Bank of New York.
• Santos, Mariana, 2020. "The impact of labor income tax progressivity on the fiscal multipliers in the context of fiscal consolidation programs," MPRA Paper 98736, University Library of Munich, Germany.
• Thomas Klitgaard, 2013. "Japan’s Missing Wall of Money," Liberty Street Economics 20131104, Federal Reserve Bank of New York.
• Luis Brandao-Marques & R. G Gelos & Thomas Harjes & Ratna Sahay & Yi Xue, 2020. "Monetary Policy Transmission in Emerging Markets and Developing Economies," IMF Working Papers 20/35, International Monetary Fund.
• Jeffrey Levine & Asani Sarkar, 2019. "How Do Large Banks Manage Their Cash?," Liberty Street Economics 20190717, Federal Reserve Bank of New York.
• Christine Laudenbach & Ulrike Malmendier & Alexandra Niessen-Ruenzi, 2020. "The Long-lasting Effects of Living under Communism on Attitudes towards Financial Markets," NBER Working Papers 26818, National Bureau of Economic Research, Inc.
• Bloom, David E. & Fan, Victoria Y. & Kufenko, Vadim & Ogbuoji, Osondu & Prettner, Klaus & Yamey, Gavin, 2020. "Going Beyond GDP with a Parsimonious Indicator: Inequality-Adjusted Healthy Lifetime Income," IZA Discussion Papers 12963, Institute of Labor Economics (IZA).
• Niklas Potrafke, 2020. "General or Central Government? Empirical Evidence on Political Cycles in Budget Composition Using New Data for OECD Countries," CESifo Working Paper Series 8134, CESifo.