Report NEP-MAC-2021-12-06

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:

• Ginters Buss & Patrick Gruning & Olegs Tkacevs, 2021. "Choosing the European Fiscal Rule," Working Papers 2021/03, Latvijas Banka.
• Grimaud, Alex, 2021. "Precautionary saving and un-anchored expectations," MPRA Paper 110651, University Library of Munich, Germany.
• Pierpaolo Benigno & Paolo Canofari & Giovanni Di Bartolomeo & Marcello Messori, 2021. "The ECB's policy measures during the COVID-19 crisis," Working Papers in Public Economics 207, Department of Economics and Law, Sapienza University of Roma.
• Pierpaolo Benigno & Paolo Canofari & Giovanni Di Bartolomeo & Marcello Messori, 2021. "The implementation and the rationale of the new inflation target of the ECB," Working Papers in Public Economics 205, Department of Economics and Law, Sapienza University of Roma.
• Claudio Borio, 2021. "Back to the future: intellectual challenges for monetary policy," BIS Working Papers 981, Bank for International Settlements.
• Phurichai Rungcharoenkitkul & Fabian Winkler, 2021. "The natural rate of interest through a hall of mirrors," BIS Working Papers 974, Bank for International Settlements.
• Mitsuru Katagiri & Koji Takahashi, 2021. "Do term premiums matter? Transmission via exchange rate dynamics," BIS Working Papers 971, Bank for International Settlements.
• Li, Ye & Li, Yi, 2021. "Payment Risk and Bank Lending," Working Paper Series 2021-17, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
• Emanuel Kohlscheen, 2021. "What does machine learning say about the drivers of inflation?," BIS Working Papers 980, Bank for International Settlements.
• Claudio Borio, 2021. "Navigating by r*: safe or hazardous?," BIS Working Papers 982, Bank for International Settlements.
• Ricardo D. Brito & Robison F. Kudamatsu & Vladimir K. Teles, 2021. "Inflation Targeting Mattered: a multivariate synthetic control approach," Working Papers, Department of Economics 2021_26, University of São Paulo (FEA-USP).
• Andreas Dibiasi & Heiner Mikosch & Samad Sarferaz, 2021. "Uncertainty Shocks, Adjustment Costs and Firm Beliefs: Evidence From a Representative Survey," KOF Working papers 21-496, KOF Swiss Economic Institute, ETH Zurich.
• Alexandre Corhay & Thilo Kind & Howard Kung & Gonzalo Morales, 2021. "Discount Rates, Debt Maturity, and the Fiscal Theory," Staff Working Papers 21-58, Bank of Canada.
• Francesco Simone Lucidi, 2021. "The Misalignment of Fiscal Multipliers in Italian Regions," Working Papers in Public Economics 204, Department of Economics and Law, Sapienza University of Roma.
• Rashad Ahmed & Claudio Borio & Piti Disyatat & Boris Hofmann, 2021. "Losing traction? The real effects of monetary policy when interest rates are low," BIS Working Papers 983, Bank for International Settlements.
• Uchida, Yuki & Ono, Tetsuo, 2021. "Generational Distribution of Fiscal Burdens: A Positive Analysis," MPRA Paper 110634, University Library of Munich, Germany.
• Pierpaolo Benigno & Paolo Canofari & Giovanni Di Bartolomeo & Marcello Messori, 2021. "Financial Dominance in the Pandemic and Post-Pandemic European Economy," Working Papers in Public Economics 206, Department of Economics and Law, Sapienza University of Roma.
• Jiang, Sheila & Li, Ye & Xu, Douglas, 2021. "The Persistent Effects of Financial Crises on the Composition of Real Investment," Working Paper Series 2021-19, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
• Jonathan Rice, 2020. "Policy Uncertainty Shocks and Small Open Economies in Monetary Union: a Case Study of Ireland," Trinity Economics Papers tep1020, Trinity College Dublin, Department of Economics.
• Takushi Kurozumi & Willem Van Zandweghe, 2021. "Macroeconomic Changes with Declining Trend Inflation: Complementarity with the Superstar Firm Hypothesis," Bank of Japan Working Paper Series 21-E-13, Bank of Japan.
• Mark Setterfield, 2021. "Neoliberalism: An entrenched but exhausted growth regime," Working Papers 2120, New School for Social Research, Department of Economics.
• Jin Cao & Valeriya Dinger & Tomas Gomez & Zuzana Gric & Martin Hodula & Alejandro Jara & Ragnar Juelsrud & Karolis Liaudinskas & Simona Malovana & Yaz Terajima, 2021. "Monetary Policy Spillover to Small Open Economies: Is the Transmission Different under Low Interest Rates?," Working Papers 2021/6, Czech National Bank.
• Jean-Baptiste Michau, 2021. "Open Economy Secular Stagnation and Financial Integration," Working Papers 2021-19, Center for Research in Economics and Statistics.
• TEKILASAYA KAVUNZU, François, 2021. "ABSENCE DU FINANCEMENT MONETAIRE DU TRESOR PUBLIC ET PERSISTANCE DE L’INFLATION : Le sens du phénomène [ABSENCE OF MONETARY FINANCING OF THE PUBLIC TREASURY AND PERSISTENCE OF INFLATION: The meanin," MPRA Paper 110698, University Library of Munich, Germany, revised Nov 2021.
• International Monetary Fund, 2021. "India: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for India," IMF Staff Country Reports 2021/230, International Monetary Fund.
• Kjell G. Nyborg & Jiri Woschitz, 2021. "The Price of Money: How Collateral Policy Affects the Yield Curve," Swiss Finance Institute Research Paper Series 21-74, Swiss Finance Institute.
• Camille Cornand & Rodolphe Dos Santos Ferreira, 2021. "Central bank’s stabilization and communication policies when firms have motivated overconfidence in their own information accuracy or processing," Working Papers 2118, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
• Kaelo Mpho Ntwaepelo, 2021. "The Effects of Macroprudential and Monetary Policy Shocks in BRICS economies," Economics Discussion Papers em-dp2021-20, Department of Economics, University of Reading.
• Aljabri, Salwa & Raghavan, Mala & Vespignani, Joaquin, 2021. "Oil Prices and Fiscal Policy in an Oil-exporter country: Empirical Evidence from Oman," MPRA Paper 110628, University Library of Munich, Germany.
• James B. Bullard, 2021. "Bullard Discusses U.S. Economy and Monetary Policy during UBS Panel," Speech 93362, Federal Reserve Bank of St. Louis.
• Andrejs Zlobins, 2021. "On the Time-varying Effects of the ECB's Asset Purchases," Working Papers 2021/02, Latvijas Banka.
• Suveg, Melinda, 2021. "Does Firm Exit Increase Prices?," Working Paper Series 1414, Research Institute of Industrial Economics.
• Fortin, Ines & Hlouskova, Jaroslava & Soegner, Leopold, 2021. "Financial instability and economic activity," IHS Working Paper Series 36, Institute for Advanced Studies.
• International Monetary Fund, 2021. "Kingdom of the Netherlands—the Netherlands: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Kingdom of the Netherlands—the Netherlands," IMF Staff Country Reports 2021/243, International Monetary Fund.
• Pierre-Edouard Collignon, 2021. "No Regret Fiscal Reforms," Working Papers 2021-20, Center for Research in Economics and Statistics.
• Raphael Auer & Jon Frost & Leonardo Gambacorta & Cyril Monnet & Tara Rice & Hyun Song Shin, 2021. "Central bank digital currencies: motives, economic implications and the research frontier," BIS Working Papers 976, Bank for International Settlements.
• Rustam Jamilov, 2021. "Social Capital and Monetary Policy," Economics Series Working Papers 952 JEL classification:, University of Oxford, Department of Economics.
• Julien Pinter, 2021. "Monetarist arithmetic at COVID-19 time: a take on how not to misapply the quantity theory of money," NIPE Working Papers 14/2021, NIPE - Universidade do Minho.
• Orsetta Causa & Nhung Luu & Michael Abendschein, 2021. "Labour market transitions across OECD countries: Stylised facts," OECD Economics Department Working Papers 1692, OECD Publishing.
• Ademmer, Martin & Boysen-Hogrefe, Jens & Groll, Dominik & Jannsen, Nils & Kooths, Stefan & Meuchelböck, Saskia & Stolzenburg, Ulrich, 2021. "German Economy Autumn 2021 - Protracted catching-up process," Kiel Institute Economic Outlook 83, Kiel Institute for the World Economy (IfW Kiel).
• Kouvavas, Omiros & Osbat, Chiara & Reinelt, Timo & Vansteenkiste, Isabel, 2021. "Markups and inflation cyclicality in the euro area," Working Paper Series 2617, European Central Bank.
• International Monetary Fund, 2021. "St. Kitts and Nevis: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for St. Kitts and Nevis," IMF Staff Country Reports 2021/236, International Monetary Fund.
• Oscar Arce & Miguel Garcia-Posada & Sergio Mayordomo & Steven Ongena, 2021. "Adapting lending policies in a “negative-for-long” scenario," Swiss Finance Institute Research Paper Series 21-75, Swiss Finance Institute.
• Omar Licandro & Francesca Vinci, 2021. "Potential output, the Taylor Rule and the Fed," Discussion Papers 2021/03, University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM).
• David H. Bernstein & Andrew B. Martinez, 2021. "Jointly Modeling Male and Female Labor Participation and Unemployment," Working Papers 2021-006, The George Washington University, Department of Economics, H. O. Stekler Research Program on Forecasting.
• Erik Feyen & Jon Frost & Harish Natarajan & Tara Rice, 2021. "What does digital money mean for emerging market and developing economies?," BIS Working Papers 973, Bank for International Settlements.
• Sebastian Doerr & Stefan Gissler & Jose-Luis Peydro & Hans-Joachim Voth, 2021. "Financial crises and political radicalization: How failing banks paved Hitler's path to power," BIS Working Papers 978, Bank for International Settlements.
• International Monetary Fund, 2021. "Union of Comoros: Request for a Staff-Monitored Program-Press Release; and Staff Report," IMF Staff Country Reports 2021/235, International Monetary Fund.
• Saiz, Lorena & Ashwin, Julian & Kalamara, Eleni, 2021. "Nowcasting euro area GDP with news sentiment: a tale of two crises," Working Paper Series 2616, European Central Bank.
• Lilian N. Rolim & Carolina Troncoso Baltar & Gilberto Tadeu Lima, 2021. "Income Distribution, Productivity Growth and Workers's Bargaining Power in an Agent-Based Macroeconomic Model," Working Papers, Department of Economics 2021_27, University of São Paulo (FEA-USP), revised 30 Nov 2021.
• International Monetary Fund, 2021. "Burundi: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Burundi," IMF Staff Country Reports 2021/242, International Monetary Fund.
• Jing Yuan & Yan Peng & Zongwu Cai & Zhengyi Zhang, 2021. "A Quantitative Evaluation to Interest Rate Marketization Reform in China," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 202122, University of Kansas, Department of Economics.
• Boneva, Lena & Ferrucci, Gianluigi & Mongelli, Francesco Paolo, 2021. "To be or not to be “green”: how can monetary policy react to climate change?," Occasional Paper Series 285, European Central Bank.
• Ghosh, Saurabh & Mazumder, Debojyoti, 2021. "Do NBFCs Propagate Real Shocks?," MPRA Paper 110596, University Library of Munich, Germany.
• International Monetary Fund, 2021. "Federated States of Micronesia: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Federated States of Micronesia," IMF Staff Country Reports 2021/237, International Monetary Fund.
• International Monetary Fund, 2021. "Mexico: 2021 Article IV Consultation-Press Release; and Staff Report," IMF Staff Country Reports 2021/240, International Monetary Fund.
• Edson Manguinhane & Felix F. Simione, 2021. "An Empirical Assessment of the Exchange Rate Pass-through in Mozambique," IMF Working Papers 2021/132, International Monetary Fund.
• Sónia Félix & Daniel Abreu, 2021. "The impact of a macroprudential borrower based measure on households’ leverage and housing choices," Working Papers w202116, Banco de Portugal, Economics and Research Department.
• Valdivia Coria, Joab Dan & Valdivia Coria, Daney David, 2021. "Impacto del Stress Sistémico en el Crecimiento Económico: Caso Guatemala [Systemic Stress Impact on Economic Growth: The case of Guatemala]," MPRA Paper 110669, University Library of Munich, Germany.
• Stéphane Auray & Aurélien Eyquem, 2021. "Heterogeneity, convergence and imbalances in the Euro area," Post-Print hal-03394885, HAL.
• Danilo Cascaldi-Garcia & Flora Haberkorn & Eli Nir, 2021. "International Measures of Common Inflation," FEDS Notes 2021-11-05-1, Board of Governors of the Federal Reserve System (U.S.).
• Ray, Sourav & Snir, Avichai & Levy, Daniel, 2021. "Retail Pricing Format and Rigidity of Regular Prices," EconStor Preprints 246817, ZBW - Leibniz Information Centre for Economics.
• Deni Irawan & Tatsuyoshi Okimoto, 2021. "Conditional Capital Surplus and Shortfall across Renewable and Non-Renewable Resource Firms," LPEM FEBUI Working Papers 202165, LPEM, Faculty of Economics and Business, University of Indonesia, revised 2021.
• António Afonso & José Carlos Coelho, 2021. "60%, -4% And 6%, a Tale of Thresholds for EU Fiscal and Current Account Developments," EconPol Working Paper 69, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
• Metodij Hadzi-Vaskov & Samuel Pienknagura & Mr. Luca A Ricci, 2021. "The Macroeconomic Impact of Social Unrest," IMF Working Papers 2021/135, International Monetary Fund.
• Donata Faccia & Giuseppe Corbisiero, 2020. "Firm or bank weakness? Access to finance since the European sovereign debt crisis," Trinity Economics Papers tep0320, Trinity College Dublin, Department of Economics.
• Vicente Esteve & María A. Prats, 2021. "Testing for rational bubbles in Australian housing market from a long-term perspective," Working Papers 2113, Department of Applied Economics II, Universidad de Valencia.
• Chavan, Sumit Sunil & Shafighi, Najla, 2021. "Exchange Rate Determination in Asia," MPRA Paper 110622, University Library of Munich, Germany.
• Ryan Niladri Banerjee & José María Serena Garralda, 2021. "Dampening the financial accelerator? Direct lenders and monetary policy," BIS Working Papers 979, Bank for International Settlements.
• Metodij Hadzi-Vaskov & Mr. Luca A Ricci & Alejandro M. Werner & Rene Zamarripa, 2021. "Authorities’ Fiscal Forecasts in Latin America: Are They Optimistic?," IMF Working Papers 2021/154, International Monetary Fund.
• Digvijay, Dilip Bhujbal & shafighi, Najla, 2021. "Factors affecting high unemployment in India," MPRA Paper 110621, University Library of Munich, Germany.
• Florian Eckert & Nina Mühlebach, 2021. "Global and Local Components of Output Gaps," KOF Working papers 21-497, KOF Swiss Economic Institute, ETH Zurich.
• Igor Livshits & Youngmin Park, 2021. "Democratic Political Economy of Financial Regulation," Staff Working Papers 21-59, Bank of Canada.
• Simplice A. Asongu & Nathanael Ojong & Valentine B. Soumtang, 2021. "Central Banks’ responses to the Covid-19 pandemic: The case of the Bank of Central African States," Working Papers of the African Governance and Development Institute. 21/076, African Governance and Development Institute..
• Jelle Barkema & Borislava Mircheva & Mr. Mico Mrkaic & Yuanchen Yang, 2021. "License to Spill: How Do We Discuss Spillovers in Article IV Staff Reports," IMF Working Papers 2021/134, International Monetary Fund.
• Klaus Weyerstraß, 2021. "Fiscal Policies during the Covid-19 Crisis in Austria - A Macroeconomic Assessment," EconPol Policy Reports 32, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
• Harashima, Taiji, 2021. "Economic Inequality and Heterogeneous Success Rates of Investment," MPRA Paper 110688, University Library of Munich, Germany.
• Grimm, Niklas & Laeven, Luc & Popov, Alexander, 2021. "Quantitative easing and corporate innovation," Working Paper Series 2615, European Central Bank.
• Bluwstein, Kristina & Buckmann, Marcus & Joseph, Andreas & Kapadia, Sujit & Şimşek, Özgür, 2021. "Credit growth, the yield curve and financial crisis prediction: evidence from a machine learning approach," Working Paper Series 2614, European Central Bank.
• Boukbech, Rachid & Liouaeddine, Mariem, 2021. "Impact de la décentralisation fiscale sur l’inclusion sociale au niveau local au Maroc Une analyse empirique à l’aide de l’approche ARDL en séries chronologiques [Impact of fiscal decentralization ," MPRA Paper 110548, University Library of Munich, Germany.
• Richard H. Clarida, 2021. "Perspectives on Global Monetary Policy Coordination, Cooperation, and Correlation: a speech at the "Macroeconomic Policy and Global Economic Recovery" 2021 Asia Economic Policy Conference, s," Speech 93388, Board of Governors of the Federal Reserve System (U.S.).
• Davide Furceri & Mr. Prakash Loungani & Mr. Jonathan David Ostry & Pietro Pizzuto, 2021. "The Rise in Inequality after Pandemics: Can Fiscal Support Play a Mitigating Role?," IMF Working Papers 2021/120, International Monetary Fund.
• International Monetary Fund, 2021. "Republic of South Sudan: First Review under the Staff-Monitored Program-Press Release; and Staff Report," IMF Staff Country Reports 2021/246, International Monetary Fund.
• Mr. Amine Mati & Ms. Monique Newiak & James Wilson, 2021. "Asymmetric Non-Commodity Output Responses to Commodity Price Shocks," IMF Working Papers 2021/163, International Monetary Fund.
• International Monetary Fund, 2021. "Chile: Fiscal Transparency Evaluation," IMF Staff Country Reports 2021/241, International Monetary Fund.
• Mr. Zhongxia Jin & Haobin Wang & Yue Zhao, 2021. "Macroeconomic Impact of Foreign Exchange Intervention: Some Cross-country Empirical Findings," IMF Working Papers 2021/126, International Monetary Fund.
• Allan, Corey & Maré, David C., 2021. "Do Workers Share in Firm Success? Pass-through Estimates for New Zealand," IZA Discussion Papers 14764, Institute of Labor Economics (IZA).
• Yoon, Deok Ryong & Rhee, Dong-Eun & Lee, Jinhee, 2020. "Analysis of the Effects of Asset Price Changes on Economic Inequality and External Economic Variables," World Economy Brief 20-37, Korea Institute for International Economic Policy.
• Yugo Koshima & Jason Harris & Alexander F. Tieman & Alessandro De Sanctis, 2021. "The Cost of Future Policy: Intertemporal Public Sector Balance Sheets in the G7," IMF Working Papers 2021/128, International Monetary Fund.
• Isaiah Hull & Or Sattath, 2021. "Revisiting the Properties of Money," Papers 2111.04483, arXiv.org, revised Nov 2021.
• Evgenij Komarov, 2021. "Capital Flows and Endogenous Growth," CER-ETH Economics working paper series 21/365, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
• Carlos San Juan Mesonada & Carlos Sunyer Manteiga, 2021. "European Structural Funds and Resilient and Recovery Facility Governance," EconPol Working Paper 67, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
• Jabbie, Mohamed & Jackson, Emerson Abraham, 2020. "On the Validity of Purchasing Power Parity (PPP): The Case of Sierra Leone," MPRA Paper 110659, University Library of Munich, Germany, revised 05 Jun 2020.
• Ademmer, Martin & Boysen-Hogrefe, Jens & Groll, Dominik & Jannsen, Nils & Kooths, Stefan & Meuchelböck, Saskia & Stolzenburg, Ulrich, 2021. "Deutsche Wirtschaft im Herbst 2021 - Delle im Aufholprozess [German Economy Autumn 2021 - Protracted catching-up process]," Kieler Konjunkturberichte 83, Kiel Institute for the World Economy (IfW Kiel).
• Mr. Raphael A Espinoza, 2021. "The Fiscal Multiplier of European Structural Investment Funds: Aggregate and Sectoral Effects with an Application to Slovenia," IMF Working Papers 2021/118, International Monetary Fund.
• Brandon Buell & Reda Cherif & Carissa Chen & Karl Walentin & Jiawen Tang & Nils Wendt, 2021. "Impact of COVID-19: Nowcasting and Big Data to Track Economic Activity in Sub-Saharan Africa," IMF Working Papers 2021/124, International Monetary Fund.
• Oksana Dynnikova & Ms. Annette J Kyobe & Mr. Slavi T Slavov, 2021. "Regional Disparities and Fiscal Federalism in Russia," IMF Working Papers 2021/144, International Monetary Fund.
• YENLIDE, Tchablemane, 2021. "Corruption et sorties illicites de capitaux dans les pays de l’Afrique subsaharienne: La démocratie compte-elle vraiment? [Corruption and Illicit Capital Outflows in Sub-Saharan Africa: Does Democr," MPRA Paper 110750, University Library of Munich, Germany.
• Yue-Jun Zhang & Han Zhang & Rangan Gupta, 2021. "Forecasting the Artificial Intelligence Index Returns: A Hybrid Approach," Working Papers 202182, University of Pretoria, Department of Economics.
• Ms. Natasha X Che, 2021. "Macroeconomic Impact of the Itaipú Treaty Review for Paraguay," IMF Working Papers 2021/129, International Monetary Fund.
• Mr. Jochen R. Andritzky & Zsuzsa Munkacsi & Ke Wang, 2021. "How to Gain the Most from Structural Conditionality of IMF-Supported Programs," IMF Working Papers 2021/139, International Monetary Fund.
• Danielyan, Vladimir & Polterovich, Victor, 2021. "Пенсионные Реформы И Теневой Сектор: Моделирование Поведения Доходных Групп [Pension reforms and the informal sector: modeling of income groups behavior]," MPRA Paper 110676, University Library of Munich, Germany.