#Macroeconomics – Working papers (#RePEc, 10/04/2014)

working_papers1

Source: RePEc – EconPapers

Independent within—not of—Government: The Emergence of the Federal Reserve as a Modern Central Bank
Owen F. Humpage 
Federal Reserve Bank of Cleveland
Keywords: Second World War; U.S. Treasury-Federal Reserve Accord; Even Keel
JEL-code: E4 E5 E6 N1
Created/Revised: 2014-03-27Downloads

Credit markets, limited commitment, and government debt
Stephen D. Williamson and Francesca Carapella 
Federal Reserve Bank of St. Louis
JEL-code: E4 E5 E6
Created/Revised: 2014-02-24Downloads

Scarce collateral, the term premium, and quantitative easing
Stephen D. Williamson 
Federal Reserve Bank of St. Louis
JEL-code: E4 E5
Created/Revised: 2014-01-15Downloads

Stress Testing the Private Household Sector Using Microdata
Kamil Galuscak, Petr Hlavac and Petr Jakubík 
Czech National Bank, Research Department
Keywords: Ability to pay, financial surplus, household indebtedness, microdata, stress testing
JEL-code: D12 D31 E17
Created/Revised: 2014-01Downloads

Transmission effects in the presence of structural breaks: evidence from south-eastern European countries
Minoas Koukouritakis, Athanasios P Papadopoulos and Andreas Yannopoulos 
Bank of Greece
Keywords: Monetary Transmission Mechanism; Structural Breaks; LM Unit Root Tests; Cointegration Tests; Impulse…
JEL-code: E43 F15 F42
Created/Revised: 2014-01Downloads

Monitoring the European CDS Market through Networks: Implications for Contagion Risks
L. Clerc, S. Gabrieli, S. Kern and Y. El Omari 
Banque de France
Keywords: Credit default swaps; Financial networks; Centrality measures; Contagion; Shadow banking.
JEL-code: E17 E44 E51 G21 G28
Created/Revised: 2014Downloads

Changes in GDP’s measurement error volatility and response of the monetary policy rate: two approaches
Julian A. Parra-Polania and Carmiña O. Vargas 
Banco de la Republica de Colombia
Created/Revised: 2014-03Downloads

2007-2013: This is what the indicator told us ? Evaluating the performance of real-time nowcasts from a dynamic factor model
Muriel Nguiffo-Boyom 
Central Bank of Luxembourg
Keywords: Forecasting, factor model, large datasets, real time analysis
JEL-code: C53 E17
Created/Revised: 2014-03Downloads

Trade Dynamics in the Market for Federal Funds
Gara M. Afonso and Ricardo Lagos 
Federal Reserve Bank of Minneapolis
Keywords: Fed funds market; Search; Bargaining; Over-the-counter market
JEL-code: C78 D83 E44 G10
Created/Revised: 2014-03-27Downloads

10 Noncausal Bayesian Vector Autoregression
Markku Lanne and Jani Luoto 
School of Economics and Management, University of …
Keywords: Noncausal time series, non-Gaussian time series, Bayesian analysis, New Keynesian model
JEL-code: C11 C32 E31
Created/Revised: 2014Downloads

11 Inflation securities valuation with macroeconomic-based no-arbitrage dynamics
Gabriele Sarais and Damiano Brigo 
arXiv.org
Created/Revised: 2014-03Downloads

12 Keynesian inefficiency and optimal policy: a new monetarist approach
Stephen D. Williamson 
Federal Reserve Bank of St. Louis
JEL-code: E4 E5
Created/Revised: 2013-06-19Downloads

13 Two views of international monetary policy coordination
James Bullard 
Federal Reserve Bank of St. Louis
Created/Revised: 2014-03-27Downloads

14 Assessing the variability of indirect tax elasticity in Greece
Athanasios O. Tagkalakis 
Bank of Greece
Keywords: indirect taxes; elasticity; GDP; Greece
JEL-code: C32 E32 H20 O52
Created/Revised: 2014-01Downloads

15 Discretionary fiscal policy and economic activity in Greece
Athanasios O. Tagkalakis 
Bank of Greece
Keywords: : Discretionary fiscal policy; economic growth; consumption; investment; net exports
JEL-code: E62 O52 H30
Created/Revised: 2013-12Downloads

16 Search-Based Endogenous Illiquidity and the Macroeconomy
Wei Cui and Sören Radde 
DIW Berlin, German Institute for Economic Research
Keywords: endogenous asset liquidity, search frictions
JEL-code: E22 E44 E58
Created/Revised: 2014Downloads

17 A New Approach to Explaining the Value of Colonial Paper Money: Evidence from New Jersey, 1709-1775
Farley Grubb 
University of Delaware, Department of Economics
Keywords: commodity money, currency depreciation, exchange rates, fiat currency, fiscal backing theory of mone…
JEL-code: E31 E42 E51 N11 N21 N41
Created/Revised: 2014Downloads

18 Does ICT remain a powerful engine of growth?
Gilbert Cette 
Banque de France
Keywords: ICT, productivity, growth, innovation.
JEL-code: O31 O33 J24 O47 E22
Created/Revised: 2014Downloads

19 Productivity trends from 1890 to 2012 in advanced countries
A. Bergeaud, Gilbert Cette and Remy Lecat 
Banque de France
Keywords: Productivity, convergence, technological change, global history.
JEL-code: E22 N10 O47
Created/Revised: 2014Downloads

20 Déficit, croissance et bien-être intergénérationnel: Comment réformer les pensions au Luxembourg ?
Muriel Bouchet, Luca Marchiori and Olivier Pierrard 
Central Bank of Luxembourg
Keywords: Générations imbriquées, Projections de long-terme, Pensions, Luxembourg
JEL-code: D91 E24 E62 F41 J11
Created/Revised: 2014-03Downloads

21 Optimal Capital Taxation and Consumer Uncertainty
Ryan Chahrour and Justin Svec 
Boston College Department of Economics
Keywords: Model uncertainty, capital income tax, public debt
JEL-code: E62 H21
Created/Revised: 2014-04-01Downloads

22 Financial conditions index and credit supply shocks for the euro area
Matthieu DARRACQ PARIES, Laurent Maurin and Diego Moccero 
European Central Bank
Keywords: credit supply shocks, euro area, factor models, financial conditions index, large dataset, sign rest…
Created/Revised: 2014-03Downloads

23 Cross-border production chains and business cycle co-movement between Central and Eastern European countries and euro area member states
Plamen Iossifov 
European Central Bank
Keywords: business cycle, CEE, Central and Eastern European countries, cross-border production chains, global …
Created/Revised: 2014-01Downloads

24 Does the federal reserve staff still beat private forecasters?
Makram El-Shagi, Sebastian Giesen and Alexander Jung 
European Central Bank
Keywords: forecast performance, forecast rationality, forecast stability, greenbook forecasts, of professional…
Created/Revised: 2014-02Downloads

25 Anchoring the yield curve using survey expectations
Carlo Altavilla, Raffaella Giacomini and Giuseppe Ragusa 
European Central Bank
Keywords: blue chip analysts survey, exponential tilting, forecast performance, macroeconomic factors, monetar…
Created/Revised: 2014-02Downloads

26 Reduced-rank time-varying vector autoregressions
Joris de Wind and Luca Gambetti 
CPB Netherlands Bureau for Economic Policy Analysi…
JEL-code: C52 C53 E37
Created/Revised: 2014-03Downloads

27 Evaluating the Links Between the Financial and Real Sectors in a Small Open Economy: The Case of the Czech Republic
Tomas Konecny and Oxana Babecka Kucharcukova 
Czech National Bank, Research Department
Keywords: Credit, non-linearities, small open economy
JEL-code: C15 C32 E51
Created/Revised: 2013-12Downloads

28 Systematic policy and forward guidance
Charles . Plosser 
Federal Reserve Bank of Philadelphia
Keywords: Monetary policy; Forward guidance; FOMC:
Created/Revised: 2014-03-25Downloads

29 Is the Slovak Economy Doing Well? A Twin Deficit Growth Approach
Elias Soukiazis, Eva Muchova and Pedro A. Cerqueira 
GEMF – Faculdade de Economia, Universidade de Coim…
Keywords: internal and external imbalances, price and income elasticities of external trade, equilibrium growt…
JEL-code: C32 E12 H6 O4
Created/Revised: 2014-03Downloads

30 Social Security and the Interactions Between Aggregate and Idiosyncratic Risk
Daniel Harenberg and Alexander Ludwig 
CER-ETH – Center of Economic Research (CER-ETH) at…
Keywords: Social security; idiosyncratic risk; aggregate risk; welfare
JEL-code: C68 E27 E62 G12 H55
Created/Revised: 2014-03Downloads

31 Natural resources and the spread of HIV/AIDS: curse or blessing?
Olivier C. Sterck 
Centre for the Study of African Economies, Univers…
Keywords: HIV/AIDS, natural resources, resource curse, epidemics, spurious regression, non-stationarity
JEL-code: I1 I18 E6 Q32
Created/Revised: 2014Downloads

32 Spillovers, capital flows and prudential regulation in small open economies
Paul Castillo, Cesar Carrera, Marco Ortiz and Hugo Yamil Vega 
Peruvian Economic Association
Keywords: Collateral, productivity, small open economy
JEL-code: E21 E23 E32 E44 G01 O11 O16
Created/Revised: 2014-03Downloads

33 Time variation in the dynamic effects of unanticipated changes in tax policy
Joris de Wind 
CPB Netherlands Bureau for Economic Policy Analysi…
JEL-code: C52 C53 E37
Created/Revised: 2014-03Downloads

34 Total Factor Productivity Estimation in Peru: Primal and Dual Approaches
Nikita Cespedes and Nelson Ramirez-Rondan 
Peruvian Economic Association
Keywords: Productivity, Primal, Dual, Peru, Solow residual
JEL-code: C23 E23 O47
Created/Revised: 2014-03Downloads

35 Macroprudential Regulation and the Role of Monetary Policy
William John Tayler and Roy Zilberman 
CEPREMAP
Keywords: Bank Capital Regulation; Macroprudential Policy; Basel III; Monetary Policy; Borrowing Cost Channel
JEL-code: E32 E44 E52 E58 G28
Created/Revised: 2014-04Downloads

36 Tax Reduction Policies of the Productive Sector and Its Impacts on Brazilian Economy
Celso José Costa Junior and Armando Vaz Sampaio 
CEPREMAP
Keywords: DSGE Models; Tax Reduction; Simulation
JEL-code: C63 E37 E62
Created/Revised: 2014-04Downloads

37 Diagnostic de la politique monétaire en Rép. Dém. Congo – Approche par l’Equilibre Général Dynamique Stochastique
Jean-Paul Kimbambu Tsasa Vangu 
CEPREMAP
Keywords: DSGE; SVAR; Monetary policy
JEL-code: C61 E27 E32 E5
Created/Revised: 2014-04Downloads

38 From Monetary Theory of Production to Culture-Nature Life Process:Feminist-Institutional Elaborations of Social Provisioning
Zdravka Todorova 
University Library of Munich, Germany
Keywords: Social Provisioning; Social Process; Institutions; Heterodox Economics; Feminist-Institutional Econo…
JEL-code: B41 B52 B54 E02 Z1
Created/Revised: 2014-03-21Downloads

39 Institutional Reform Design: А New Chapter of Economics
Victor Polterovich 
University Library of Munich, Germany
Keywords: shock therapy and gradualism, institutional trajectories, interim institutions, dysfunctions, instit…
JEL-code: D02 E02 H75 L85 O1 P5
Created/Revised: 2014-03-27Downloads

40 How the Supply of Labor Responds to Changes in Fiscal Policy
Congressional Budget Office 
Congressional Budget Office
Created/Revised: 2012-10-25Downloads

41 An Empirical Study of Trade Dynamics in the Fed Funds Market
Gara M. Afonso and Ricardo Lagos 
Federal Reserve Bank of Minneapolis
Keywords: Monetary policy; Federal funds market; Federal funds rates
JEL-code: E42 E44 G21
Created/Revised: 2014-03-17Downloads

42 Search-Based Models of Money and Finance: An Integrated Approach
Randall Wright and Alberto Trejos 
Federal Reserve Bank of Minneapolis
Keywords: Search; Bargaining; Money; Finance
JEL-code: E40 E44
Created/Revised: 2014-03-19Downloads

43 Dealing with a liquidity trap when government debt matters: optimal time-consistent monetary and fiscal policy
Matthias Burgert and Sebastian Schmidt 
European Central Bank
Keywords: deficit spending, discretion, monetary and fiscal policy, new Keynesian model, zero nominal interest…
Created/Revised: 2013-12Downloads

44 Fiscal activism and the zero nominal interest rate bound
Sebastian Schmidt 
European Central Bank
Keywords: discretion, fiscal policy, monetary policy, zero nominal interest rate bound
Created/Revised: 2014-03Downloads

45 Micro and macro analysis on household income, wealth and saving in the euro area
Juha Honkkila and Ilja Kristian Kavonius 
European Central Bank
Keywords: balance sheets, financial accounts, households, wealth, wealth survey
Created/Revised: 2013-11Downloads

46 External and macroeconomic adjustment in the larger euro area countries
Elena Angelini, Ca’ Zorzi, Michele and Katrin Forster 
European Central Bank
Keywords: current account, euro area countries, modeling, net lending
Created/Revised: 2014-03Downloads

47 Household risk management and actual mortgage choice in the euro area
Michael Ehrmann and Michael Heinrich Ziegelmeyer 
European Central Bank
Keywords: adjustable-rate mortgage, fixed-rate mortgage, household finance, monetary policy, mortgage choice
Created/Revised: 2014-01Downloads

48 A high frequency assessment of the ECB securities markets programme
Eric Ghysels, Julien Idier, Simone Manganelli and Olivier Vergote 
European Central Bank
Keywords: component models, euro area crisis, high frequency data, SMP, unconventional monetary policy
Created/Revised: 2014-02Downloads

49 Global corporate bond issuance: what role for US quantitative easing?
Marco Lo Duca, Giulio Nicoletti and Ariadna Vidal Martinez 
European Central Bank
Keywords: bond issuance, crisis management, emerging markets, Federal Reserve, monetary policy, quantitative e…
Created/Revised: 2014-03Downloads

50 The impact of monetary policy and exchange rate shocks in Poland: evidence from a time-varying VAR
Olga Arratibel and Henrike Michaelis 
European Central Bank
Keywords: Bayesian time-varying parameter VAR, exchange rate pass-through, monetary policy transmission
Created/Revised: 2014-02Downloads

51 Reforming EU economic governance: is ‘more’ any better?
Renaud Thillaye, Ludek Kouba and Andreas Sachs 
WWWforEurope
Keywords: EU integration, European economic policy, European governance, European Monetary Union, Good governa…
JEL-code: E02
Created/Revised: 2014-03Downloads

52 Misallocation, informality, and human capital: understanding the role of institutions
D’Erasmo, Pablo, Hernan Moscoso Boedo and Asli Senkal 
Federal Reserve Bank of Philadelphia
Keywords: Financial Structure; Informal Sector; Productivity; Policy Distortions; Human Capital;
JEL-code: D24 E26 J24 L11 O16 O17
Created/Revised: 2014-03-24Downloads

53 Market exposure and endogenous firm volatility over the business cycle
Ryan Decker, D’Erasmo, Pablo and Hernan Moscoso Boedo 
Federal Reserve Bank of Philadelphia
Keywords: Endogenous idiosyncratic risk; Business cycles; Market exposure;
JEL-code: D21 D22 E32 L11 L25
Created/Revised: 2014-03-24Downloads

54 Debt, Taxes, and Liquidity
Patrick Bolton, Hui Chen and Neng Wang 
National Bureau of Economic Research, Inc
JEL-code: E22 G32 G35 H24 H25
Created/Revised: 2014-03Downloads

55 Using Social Media to Measure Labor Market Flows
Dolan Antenucci, Michael Cafarella, Margaret C. Levenstein, Christopher Ré and Matthew D. Shapiro 
National Bureau of Economic Research, Inc
JEL-code: C81 C82 E24 J60
Created/Revised: 2014-03Downloads

56 Intellectual Property Rights, the Pool of Knowledge, and Innovation
Joseph E. Stiglitz 
National Bureau of Economic Research, Inc
JEL-code: E61 H41 O3 O31 O32 O33 O34 O38
Created/Revised: 2014-03Downloads

57 The Foley Liquidity / Profit-Rate Cycle Model Reconsidered
Helmar Nunes Moreira, Ricardo Azevedo Araujo and Peter Flaschel
University Library of Munich, Germany
Keywords: Liquidity / Profit-Rate Cycle, Stability Conditions, Hopf-bifurcation.
JEL-code: E41 E64
Created/Revised: 2014-03Downloads

58 Pricing of retail deposits in Croatia: including the premium for country default
Neven Vidaković 
University Library of Munich, Germany
Keywords: deposit interest rate, probability of default, banks
JEL-code: E43 G21 G32
Created/Revised: 2014-03-28Downloads

59 A note on risk sharing against idiosyncratic shocks and geographic mobility in Japan
Tomoaki Yamada 
University Library of Munich, Germany
Keywords: Risk sharing; Consumption insurance; Geographic mobility
JEL-code: D12 D31 E21
Created/Revised: 2014-03-28Downloads

60 Modelling a Latent Daily Tourism Financial Conditions Index
Chia-Lin Chang 
University Library of Munich, Germany
Keywords: Monetary Conditions Index, Financial Conditions Index, Daily Model-based Tourism Financial Condition…
JEL-code: B41 C51 C58 E44 E47 G32
Created/Revised: 2014-03-20Downloads

61 Industrial Development, Polarisation, and Fiscal Policy in an Underemployment Economy
Tetsuya Nakajima 
University Library of Munich, Germany
Keywords: industrial development, migration, underemployment, wealth distribution, polarisation
JEL-code: E21 E24 E62 O11
Created/Revised: 2013-10-12Downloads

62 Search Frictions, Credit Market Liquidity, and Net Interest Margin Cyclicality
Kevin Beaubrun-Diant and Fabien Tripier 
Paris Dauphine University
Keywords: Search Friction; Matching Model; Nash Bargaining; Bank Interest Margin;
JEL-code: C78 E32 E44 G21
Created/Revised: 2013-12Downloads

63 Nonlinearities in sovereign risk pricing the role of cds index contracts
Anne Laure Delatte 
Observatoire Francais des Conjonctures Economiques…
Keywords: European sovereign crisis, Panel Smooth Threshold regression models, CDS indices
JEL-code: E44 F34 G12 H63 C23
Created/Revised: 2014-03Downloads

64 Inflation expectation dynamics:the role of past, present and forward looking information
Paul Hubert and Harun Mirza 
Observatoire Francais des Conjonctures Economiques…
Keywords: Survey expectations,inflation,New Keynesian Philipps Curve
JEL-code: E31
Created/Revised: 2014-03Downloads

65 Assessing fiscal sustainability in some selected countries
Alexis Cruz-Rodriguez 
University Library of Munich, Germany
Keywords: Debt, deficit, fiscal sustainability
JEL-code: E62 E63 H62
Created/Revised: 2014-03-18Downloads

Laisser un commentaire

Entrez vos coordonnées ci-dessous ou cliquez sur une icône pour vous connecter:

Logo WordPress.com

Vous commentez à l'aide de votre compte WordPress.com. Déconnexion / Changer )

Image Twitter

Vous commentez à l'aide de votre compte Twitter. Déconnexion / Changer )

Photo Facebook

Vous commentez à l'aide de votre compte Facebook. Déconnexion / Changer )

Photo Google+

Vous commentez à l'aide de votre compte Google+. Déconnexion / Changer )

Connexion à %s