Report NEP-MAC-2016-05-21

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:

• Michael T. Belongia & Peter N. Ireland, 2016. "Circumventing the Zero Lower Bound with Monetary Policy Rules Based on Money," Boston College Working Papers in Economics 911, Boston College Department of Economics.
• Kollmann, Robert & Leeper, Eric & Roeger, Werner, 2016. "The Post-Crisis Slump," MPRA Paper 71291, University Library of Munich, Germany.
• Alice Albonico & Alessia Paccagnini & Patrizio Tirelli, 2016. "Great Recession, Slow Recovery and Muted Fiscal Policies in the US," Working Papers 201602, School of Economics, University College Dublin.
• Jakob Kapeller & Michael Landesmann & Franz X. Mohr & Bernhard Schütz, 2016. "Government Policies and Financial Crises: Mitigation, Postponement or Prevention?," wiiw Working Papers 126, The Vienna Institute for International Economic Studies, wiiw.
• Gary B. Gorton, 2016. "The History and Economics of Safe Assets," NBER Working Papers 22210, National Bureau of Economic Research, Inc.
• Marcin Kolasa, 2016. "On the limits of macroprudential policy," NBP Working Papers 236, Narodowy Bank Polski.
• Ghironi, Fabio & Cacciatore, Matteo & Duval, Romain & Fiori, Giuseppe, 2016. "Market Reforms in the Time of Imbalance," CEPR Discussion Papers 11247, C.E.P.R. Discussion Papers.
• Andrew Lee Smith, 2015. "When does the cost channel pose a challenge to inflation targeting central banks?," Research Working Paper RWP 15-6, Federal Reserve Bank of Kansas City.
• Carlos Carvalho & Eric Hsu & Fernanda Nechio, 2016. "Measuring the effect of the zero lower bound on monetary policy," Working Paper Series 2016-6, Federal Reserve Bank of San Francisco.
• Xu, Wenli & Xu, Kun & Lu, Hongyou, 2016. "Environmental Policy and China’s Macroeconomic Dynamics Under Uncertainty---Based on The NK Model with Distortionary Taxation," MPRA Paper 71314, University Library of Munich, Germany.
• Hännikäinen, Jari, 2016. "The shadow rate as a predictor of real activity and inflation: Evidence from a data-rich environment," MPRA Paper 71432, University Library of Munich, Germany.
• Claudio Morana, 2016. "Macroeconomic and Financial Effects of Oil Price Shocks: Evidence for the Euro Area," Working Papers 2016.23, Fondazione Eni Enrico Mattei.
• Marcelo Arbex & Sidney Caetano & Dennis O'Dea, 2016. "The implications of labor market network for business cycles," Working Papers 1603, University of Windsor, Department of Economics.
• Mario Seccareccia & Marc Lavoie, 2016. "Understanding the Great Recession: Some Fundamental Keynesian and Post-Keynesian Insights, with an Analysis of Possible Mechanisms to Achieve a Sustained Recovery," Working Papers Series 37, Institute for New Economic Thinking.
• Yasufumi Gemma, 2016. "Money Illusion Matters for Consumption-Saving Decision-Making: An Experimental Investigation," IMES Discussion Paper Series 16-E-06, Institute for Monetary and Economic Studies, Bank of Japan.
• Craighead, William, 2016. "Hysteresis in a New Keynesian Model," MPRA Paper 70777, University Library of Munich, Germany.
• Tom Engsted & Thomas Q. Pedersen, 2016. "The predictive power of dividend yields for future infl?ation: Money illusion or rational causes?," CREATES Research Papers 2016-11, Department of Economics and Business Economics, Aarhus University.
• C. Ciaschini & R. Pretaroli & F. Severini & C. Socci, 2016. "Money supply expansion through a dynamic CGE model," Working Papers 79-2016, Macerata University, Department of Finance and Economic Sciences, revised May 2016.
• Xu, Kun & Xu, Wenli, 2015. "我国“货币中性”再检验 [The Re-test of Monetary Neutrality in China]," MPRA Paper 71080, University Library of Munich, Germany.
• Filippo Gori, 2016. "Disentangling the Monetary Policy Stance," Bank of Lithuania Working Paper Series 27, Bank of Lithuania.
• Anmol Bhandari & Jaroslav Borovička & Paul Ho, 2016. "Identifying Ambiguity Shocks in Business Cycle Models Using Survey Data," NBER Working Papers 22225, National Bureau of Economic Research, Inc.
• Daragh Clancy & Rossana Merola, 2016. "Countercyclical capital rules for small open economies," Working Papers 10, European Stability Mechanism.
• Wieland, Volker & Taylor, John, 2016. "Finding the Equilibrium Real Interest Rate in a Fog of Policy Deviations," CEPR Discussion Papers 11264, C.E.P.R. Discussion Papers.
• Koenig, Felix & Manning, Alan & Petrongolo, Barbara, 2016. "Reservation wages and the wage flexibility puzzle," LSE Research Online Documents on Economics 66417, London School of Economics and Political Science, LSE Library.
• Igor Fedotenkov, 2016. "Population ageing and inflation with endogenous money creation," Bank of Lithuania Working Paper Series 23, Bank of Lithuania.
• Ali, Amjad & Ur Rehman, Hafeez, 2015. "Macroeconomic Instability and Its Impact on Gross Domestic Product: An Empirical Analysis of Pakistan," MPRA Paper 71037, University Library of Munich, Germany.
• Mitman, Kurt & Kaplan, Greg & Violante, Giovanni, 2016. "Non-durable Consumption and Housing Net Worth in the Great Recession: Evidence from Easily Accessible Data," CEPR Discussion Papers 11255, C.E.P.R. Discussion Papers.
• Peter Temin & David Vines, 2015. "Comments on Paul Davidsons Full Employment, Open Economy Macroeconomics, and Keynes General Theory: Does the Swan Diagram Suffice?," Working Papers Series 36, Institute for New Economic Thinking.
• Martin Bodenstein & Gunes Kamber & Christoph Thoenissen, 2016. "Commodity prices and labour market dynamics in small open economies," CAMA Working Papers 2016-24, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
• Martin Bodenstein & Gunes Kamber & Christoph Thoenissen, 2016. "Commodity prices and labour market dynamics in small open economies," Working Papers 2016005, The University of Sheffield, Department of Economics.
• Harashima, Taiji, 2016. "A Theory of Deflation: Can Expectations Be Influenced by a Central Bank?," MPRA Paper 71276, University Library of Munich, Germany.
• Jens H. E. Christensen & Signe Krogstrup, 2016. "A Portfolio Model of Quantitative Easing," Working Paper Series WP16-7, Peterson Institute for International Economics.
• Özlem Onaran, 2016. "Secular stagnation and progressive economic policy alternatives," Working Papers PKWP1609, Post Keynesian Economics Society (PKES).
• Jesús Fernández-Villaverde & Daniel R. Sanches, 2016. "Can currency competition work?," Working Papers 16-12, Federal Reserve Bank of Philadelphia.
• Bilbiie, Florin, 2016. "Optimal Forward Guidance," CEPR Discussion Papers 11251, C.E.P.R. Discussion Papers.
• Richard K. Crump & Stefano Eusepi & Emanuel Moench, 2016. "The term structure of expectations and bond yields," Staff Reports 775, Federal Reserve Bank of New York.
• Renee Fry-McKibbin & Jasmine Zheng, 2016. "Effects of US monetary policy shocks during financial crises - A threshold vector autoregression approach," CAMA Working Papers 2016-25, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
• Bertsch, Christoph & Hull, Isaiah & Zhang, Xin, 2016. "Fed Liftoff and Subprime Loan Interest Rates: Evidence from the Peer-to-Peer Lending Market," Working Paper Series 319, Sveriges Riksbank (Central Bank of Sweden).
• Netésunajev, Aleksei & Winkelmann, Lars, 2016. "International dynamics of inflation expectations," SFB 649 Discussion Papers 2016-019, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
• Fabrice Collard & Sujoy Mukerji & Kevin Sheppard & Jean-Marc Tallon, 2011. "Ambiguity and the historical equity premium," Documents de travail du Centre d'Economie de la Sorbonne 11032rrr, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne, revised Apr 2016.
• Jiaqian Chen & Francesco Columba, 2016. "Macroprudential and Monetary Policy Interactions in a DSGE Model for Sweden," IMF Working Papers 16/74, International Monetary Fund.
• Fumio Hayashi, 2016. "Affine term structure pricing with bond supply as factors," FRB Atlanta CQER Working Paper 2016-1, Federal Reserve Bank of Atlanta.
• Janko Cizel & Jon Frost & Aerdt Houben & Peter Wierts, 2016. "Effective macroprudential policy: Cross-sector substitution from price and quantity measures," DNB Working Papers 498, Netherlands Central Bank, Research Department.
• L. Marattin & S. Meraglia, 2016. "Potential Output and Fiscal Rules in a Monetary Union under Asymmetric Information 2nd ed," Working Papers wp1063, Dipartimento Scienze Economiche, Universita' di Bologna.
• Kuzmin, Anton, 2015. "Exchange Rate Modeling: The Case of Ruble," MPRA Paper 71012, University Library of Munich, Germany.
• International Monetary Fund, 2016. "Mauritius; 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Mauritius," IMF Staff Country Reports 16/89, International Monetary Fund.
• Arora, Vipin, 2016. "Credit and Oil Consumption," MPRA Paper 71096, University Library of Munich, Germany.
• Irena Szarowská, 2016. "Quality of Public Finance and Economic Growth in the Czech Republic," Working Papers 0030, Silesian University, School of Business Administration.
• Roman Frydman & Michael Goldberg & Nicholas Mangee, 2015. "New Evidence for the Present-Value Model of Stock Prices: Why the REH Version Failed Empirically," Working Papers Series 2, Institute for New Economic Thinking.
• Mandler, Martin & Scharnagl, Michael & Volz, Ute, 2016. "Heterogeneity in euro-area monetary policy transmission: Results from a large multi-country BVAR model," Discussion Papers 03/2016, Deutsche Bundesbank.
• Timothy S. Fuerst & Ron Mau, 2016. "Term Premium Variability and Monetary Policy," Working Papers (Old Series) 1611, Federal Reserve Bank of Cleveland.
• Huixin Bi & Wenyi Shen & Shu-Chun Yang, 2016. "Debt-dependent effects of fiscal expansions," Research Working Paper RWP 16-4, Federal Reserve Bank of Kansas City.
• David-Jan Jansen & Richhild Moessner, 2016. "Communicating dissent on monetary policy: Evidence from central bank minutes," DNB Working Papers 512, Netherlands Central Bank, Research Department.
• Vaona, Andrea, 2016. "Anomalous empirical evidence on money long-run super-neutrality and the vertical long-run Phillips curve," Kiel Working Papers 2038, Kiel Institute for the World Economy (IfW Kiel).
• International Monetary Fund, 2016. "Hungary; 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Hungary," IMF Staff Country Reports 16/107, International Monetary Fund.
• Item repec:ucm:wpaper:01-15 is not listed on IDEAS anymore

• Baumgarten, Daniel & Kvasnicka, Michael, 2016. "Temporary Agency Work and the Great Recession," Discussion Papers in Economics 27991, University of Munich, Department of Economics.
• Baumgarten, Daniel & Kvasnicka, Michael, 2016. "Temporary Agency Work and the Great Recession," IZA Discussion Papers 9913, Institute of Labor Economics (IZA).
• Tom Krebs & Martin Scheffel, 2016. "Structural Reform in Germany," IMF Working Papers 16/96, International Monetary Fund.
• Unger, Robert, 2016. "Traditional banks, shadow banks and the US credit boom: Credit origination versus financing," Discussion Papers 11/2016, Deutsche Bundesbank.
• International Monetary Fund, 2016. "Guinea; Sixth and Seventh Reviews under the Extended Credit Facility Arrangement, Financing Assurances Review, and Requests for Waivers of Nonobservance of Performance Criteria, Extension of the Arran," IMF Staff Country Reports 16/95, International Monetary Fund.
• Billstam, Maria & Frändén, Kristina & Samuelsson, Johan & Österholm, Pär, 2016. "Quasi-Real-Time Data of the Economic Tendency Survey," Working Papers 143, National Institute of Economic Research.
• International Monetary Fund, 2016. "West African Economic and Monetary Union; Common Policies of Member Countries-Press Release; Staff Report; and Statement by the Executive Director for West African Economic and Monetary Union," IMF Staff Country Reports 16/96, International Monetary Fund.
• David de la Croix & Matthias Doepke & Joel Mokyr, 2016. "Clans, Guilds, and Markets: Apprenticeship Institutions and Growth in the Pre-Industrial Economy," Working Papers 2016-008, Human Capital and Economic Opportunity Working Group.
• Jaroslav Bukovina & Matus Marticek, 2016. "Sentiment and Bitcoin Volatility," MENDELU Working Papers in Business and Economics 2016-58, Mendel University in Brno, Faculty of Business and Economics.
• Robert Kollmann & Stefan Zeugner, 2016. "Blanchard and Kahn's (1980) Solution for a Linear Rational Expectations Model with One State Variable and One Control Variable: the Correct Formula," Working Papers ECARES ECARES 2016-14, ULB -- Universite Libre de Bruxelles.
• Grégory Claeys & Zsolt Darvas & Alvaro Leandro, 2016. "A proposal to revive the European Fiscal Framework," Bruegel Policy Contributions 13490, Bruegel.
• Gilbert Cette & John G. Fernald & Benoit Mojon, 2016. "The pre-Great Recession slowdown in productivity," Working Paper Series 2016-8, Federal Reserve Bank of San Francisco.
• Sander van Veldhuizen & Benedikt Vogt & Bart Voogt, 2016. "Internet searches and transactions on the housing market," CPB Discussion Paper 325, CPB Netherlands Bureau for Economic Policy Analysis.
• Geoffrey Meen & Alexander Mihailov & Yehui Wang, 2016. "Endogenous UK Housing Cycles and the Risk Premium: Understanding the Next Housing Crisis," Economics Discussion Papers em-dp2016-02, Department of Economics, University of Reading.
• Dünhaupt, Petra, 2016. "Financialization and the crises of capitalism," IPE Working Papers 67/2016, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
• Druedahl, Jeppe & Martinello, Alessandro, 2016. "Long-Run Saving Dynamics: Evidence from Unexpected Inheritances," Working Papers 2016:7, Lund University, Department of Economics, revised 08 May 2018.
• Neel Kashkari, 2016. "Update on Minneapolis Fed Ending Too Big to Fail Initiative / Neel Kashkari, President ... Minneapolis, Minnesota ... April 18, 2016," Speech 143, Federal Reserve Bank of Minneapolis.
• Simin Mozayeni & Simon Li, 2016. "Household Saving Rates and Social Insurance Retirement Income: An International Comparison of the OECD Countries," Proceedings of International Academic Conferences 3606129, International Institute of Social and Economic Sciences.
• Michel Aglietta & Etienne Espagne, 2016. "Climate and finance systemic risks, more than an analogy? The climate fragility hypothesis," Working Papers 2016-10, CEPII research center.
• Abbassi, Puriya & Brownlees, Christian & Hans, Christina & Podlich, Natalia, 2016. "Credit risk interconnectedness: What does the market really know?," Discussion Papers 09/2016, Deutsche Bundesbank.
• T. Philipp Dybowski & J. Nikolaj Dybowski & Philipp Adämmer, 2016. "The Economic Effects of U.S. Presidential Tax Communication," CQE Working Papers 4916, Center for Quantitative Economics (CQE), University of Muenster.
• Klaus Abberger & Andreas Dibiasi & Michael Siegenthaler & Jan-Egbert Sturm, 2016. "The Effect of Policy Uncertainty on Investment Plans," KOF Working papers 16-406, KOF Swiss Economic Institute, ETH Zurich.
• International Monetary Fund, 2016. "Gabon; 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Gabon," IMF Staff Country Reports 16/86, International Monetary Fund.
• Konchyn, Vadym & Horban, Yuliia, 2016. "Экономическая Точка Бифуркации Для Украинского Олигархического Государства В Контексте Модели Стационарного Бандита [Economic Point Of Bifurcation For Ukrainian Oligarchic State In The Stationary B," MPRA Paper 70953, University Library of Munich, Germany.
• Patrick T. Harker, 2016. "An Economic Outlook," Speech 120, Federal Reserve Bank of Philadelphia.
• Matt Darst & Ehraz Refayet, 2016. "Credit Default Swaps in General Equilibrium: Spillovers, Credit Spreads, and Endogenous Default," Finance and Economics Discussion Series 2016-042, Board of Governors of the Federal Reserve System (U.S.).
• Rafal Kierzenkowski & Nigel Pain & Elena Rusticelli & Sanne Zwart, 2016. "The Economic Consequences of Brexit: A Taxing Decision," OECD Economic Policy Papers 16, OECD Publishing.
• Iga Magda & Michal Brzezinski, 2016. "Inequality of opportunity in Central and Eastern Europe: accounting for changes over time," IBS Working Papers 05/2016, Instytut Badan Strukturalnych.
• Iqbal Syed & Jan de Haan, 2016. "Age, Time, Vintage, and Price Indexes: Measuring the Depreciation Pattern of Houses," Discussion Papers 2016-01, School of Economics, The University of New South Wales.
• Ippei Fujiwara & Jiao Wang, 2016. "Optimal monetary policy in open economies revisited," Globalization Institute Working Papers 272, Federal Reserve Bank of Dallas.
• Andrea Pescatori & Stefan Laseen, 2016. "Financial Stability and Interest-Rate Policy; A Quantitative Assessment of Costs and Benefits," IMF Working Papers 16/73, International Monetary Fund.
• Urbain Thierry Yogo, 2016. "The Curse of Conflict: understanding the effect of terrorism on fiscal volatility," EconomiX Working Papers 2016-20, University of Paris Nanterre, EconomiX.
• Pawel Pisany, 2016. "Single Supervisory Mechanism as a response to the banking crisis. Analysis with the particular emphasis on the non-euro area EU member state," Working Papers 13/2016, Institute of Economic Research, revised May 2016.
• Guido Ascari & Andrea Colciago & Lorenza Rossi, 2016. "Determinacy analysis in high order dynamic systems: The case of nominal rigidities and limited asset market participation," DNB Working Papers 511, Netherlands Central Bank, Research Department.
• Hasan, Md Rashel & Islam, Md Ezazul, 2016. "Financial Inclusion Index at District Levels in Bangladesh: A Distance-based Approach," MPRA Paper 71344, University Library of Munich, Germany.
• De Grauwe, Paul & Ji, Yuemei, 2016. "International correlation of business cycles in a behavioral macroeconomic model," CEPR Discussion Papers 11257, C.E.P.R. Discussion Papers.
• Adrian Buss & Bernard Dumas & Raman Uppal & Grigory Vilkov, 2016. "The Intended and Unintended Consequences of Financial-Market Regulations: A General Equilibrium Analysis," Carlo Alberto Notebooks 449, Collegio Carlo Alberto.
• Ken Urai & Hiromi Murakami, 2016. "Local Independence, Monotonicity and Axiomatic Characterization of Price-Money Message Mechanism," Discussion Papers in Economics and Business 16-08, Osaka University, Graduate School of Economics.
• Georgios Bampinas & Theodore Panagiotidis, 2016. "Hedging Inflation with Individual US stocks: A long-run portfolio analysis," Working Paper series 16-11, Rimini Centre for Economic Analysis.
• Gerunov, Anton, 2016. "Automating Analytics: Forecasting Time Series in Economics and Business," MPRA Paper 71010, University Library of Munich, Germany.
• fatih ayhan, 2016. "Defining The Relationship Between The Real Exchange Volatility And Foreign Direct Investment In Turkey," Proceedings of International Academic Conferences 3606278, International Institute of Social and Economic Sciences.
• Pietro Dallari & Antonio Ribba, 2015. "Dynamic Factor Models with In nite-Dimensional Factor Space: Asymptotic Analysis," Center for Economic Research (RECent) 115, University of Modena and Reggio E., Dept. of Economics "Marco Biagi".
• Mackowiak, Bartosz & MatÄ›jka, Filip & Wiederholt, Mirko, 2016. "The Rational Inattention Filter," CEPR Discussion Papers 11237, C.E.P.R. Discussion Papers.
• Anthony Venables & Samuel E Wills, 2016. "Resource Funds: Stabilizing, Parking, and Inter-Generational Transfer," OxCarre Working Papers 171, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford.
• Mario Forni & Luca Gambetti & Luca Sala, 2016. "VAR Information and the Empirical Validation of DSGE Models," Center for Economic Research (RECent) 119, University of Modena and Reggio E., Dept. of Economics "Marco Biagi".
• Ljungqvist, Lars & Sargent, Thomas & Kitao, Sagiri, 2016. "A Life-Cycle Model of Trans-Atlantic Employment Experiences," CEPR Discussion Papers 11260, C.E.P.R. Discussion Papers.
• Lilit Popoyan, 2016. "Macroprudential Policy: a Blessing or a Curse?," LEM Papers Series 2016/21, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
• Mustafa Göktu? Kaya & Perihan Hazel Kaya, 2016. "Evalution Of The Relationship Between Of Tax Competition And Tax Haven In The World And Turkey," Proceedings of International Academic Conferences 3606097, International Institute of Social and Economic Sciences.
• International Monetary Fund, 2016. "Nigeria; 2016 Article IV Consultation- Press Release; Staff Report; and Statement by the Executive Director for Nigeria," IMF Staff Country Reports 16/101, International Monetary Fund.
• Michael E. Waugh & B. Ravikumar, 2016. "Measuring Openness to Trade," NBER Working Papers 22147, National Bureau of Economic Research, Inc.
• Mattia Guerini & Alessio Moneta, 2016. "A Method for Agent-Based Models Validation," Working Papers Series 42, Institute for New Economic Thinking.
• Xu, Kun & Guan, Zhihua & Xu, Wenli, 2015. "省级财政支出效率空间溢出效应研究：基于超效率dea和gsm模型 [Study on Spatial Spillover Effect of Provincial Fiscal Efficiency: Based on Super-Efficient DEA and GSM Model]," MPRA Paper 71132, University Library of Munich, Germany.
• Troy D Matheson & Joana Pereira, 2016. "Fiscal Multipliers for Brazil," IMF Working Papers 16/79, International Monetary Fund.
• Rafael A Portillo & Luis-Felipe Zanna & Stephen A. O'Connell & Richard Peck, 2016. "Implications of Food Subsistence for Monetary Policy and Inflation," IMF Working Papers 16/70, International Monetary Fund.
• Bernardo Batiz-Lazo & Gustavo A. Del Angel, 2016. "The Dawn of the Plastic Jungle: The Introduction of the Credit Card in Europe and North America, 1950-1975," Economics Working Papers 16107, Hoover Institution, Stanford University.