#Macroeconomics – Working papers (#RePEc, 19/05/2014)

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Source: RePEc – EconPapers

Sélection de working papers dans le domaine de la macroéconomie:

Okun’s law: evidence for the Brazilian economy
Guilherme Alexandre Tombolo and Marcos Minoru Hasegawa 
University Library of Munich, Germany
Keywords: Output, Unemployment, Okun’s Law
JEL-code: E23 E24 E27

 

How Does Tax Progressivity and Household Heterogeneity Affect Laffer Curves?
Hans Holter, Dirk Krueger and Serhiy Stepanchuk 
Penn Institute for Economic Research, Department o…
Keywords: Progressive Taxation, Fiscal Policy, Laffer Curve, Government Debt
JEL-code: E62 H20 H60

 

Fiscal Policy in an Unemployment Crisis
Pontus Rendahl 
Faculty of Economics, University of Cambridge
Keywords: Fiscal multiplier; Fiscal policy; Liquidity trap; Unemployment inertia
JEL-code: E24 E60 E62 H12 H30 J23 J64

 

Critical Remarks on Piketty´s ‘Capital in the Twenty-first Century’
Stefan Homburg 
Leibniz Universität Hannover, Wirtschaftswissensch…
Keywords: Capital, wealth, income distribution, taxes
JEL-code: D31 E H24

 

Forecasting Chilean Inflation with International Factors
Pablo Pincheira and Andrés Gatty 
Central Bank of Chile

 

Bond Markets, Stock Markets and Exchange Rates: A Dynamic Relationship
Suleyman Hilmi Kal, Ferhat Arslaner and Nuran Arslaner 
Research Department of Borsa Istanbul
Keywords: Bond Price, Stock Price, Sharpe Ratio, Exchange Rates, Time Series Analysis, and Markov Switching Mo…
JEL-code: C22 E44 G12

 

The Impact of Oil Price Shocks on U.S. Bond Market Returns
Wensheng Kang, Ronald A. Ratti and Kyung Hwan Yoon 
Centre for Applied Macroeconomic Analysis, Crawfor…
Keywords: Demand shocks, Oil prices, Bond returns, Supply shocks
JEL-code: E44 G12 Q43

 

Trade Misinvoicing and Macroeconomic Outcomes in India
Raghbendra Jha and Truong Duc Nguyen 
Centre for Applied Macroeconomic Analysis, Crawfor…
Keywords: Trade Misinvocing, VAR, Impulse Response, Forecasting, India
JEL-code: E17 F32 F47 K42

 

Policy Uncertainty in China, Oil Shocks and Stock Returns
Wensheng Kang and Ronald A. Ratti 
Centre for Applied Macroeconomic Analysis, Crawfor…
Keywords: China’s policy uncertainty, China’s stock market return, Oil shocks, Structural VAR
JEL-code: E44 G15 P40 Q43

 

10 Asset Price Targeting Government Spending and Equilibrium Indeterminacy in A Sticky-Price Economy
Kengo Nutahara 
The Canon Institute for Global Studies

 

11 What Asset Prices Should be Targeted by a Central Bank?
Kengo Nutahara 
The Canon Institute for Global Studies

 

12 A macroeconomic model of liquidity crises
Keiichiro Kobayashi and Tomoyuki Nakajima 
The Canon Institute for Global Studies

 

13 Heterogeneity and redistribution shocks in business cycles
Keiichiro Kobayashi and Daichi Shirai 
The Canon Institute for Global Studies

 

14 Policy Regime Change against Chronic Deflation? Policy option under a long-term liquidity trap
Ippei Fujiwara, Yoshiyuki Nakazono and Kozo Ueda 
Research Institute of Economy, Trade and Industry …

 

15 A primer on the GCF Repo® Service
Paul Agueci, Leyla Alkan, Adam Matthew Copeland, Isaac Davis, Antoine Martin, Kate Pingitore, Caroline Prugar and Tyisha Rivas 
Federal Reserve Bank of New York
Keywords: GCF Repo; tri-party repo reforms; financial intermediation
JEL-code: E42 E58 G23 G28

 

16 The FRBNY staff underlying inflation gauge: UIG
Marlene Amstad, Simon Potter and Robert W. Rich 
Federal Reserve Bank of New York
Keywords: expectations; survey forecasts; imperfect information; term structure of disagreement
JEL-code: C13 C33 C43 E31

 

17 A Survey of the Role of Fiscal Policy in Addressing Income Inequality, Poverty Reduction and Inclusive Growth
Almas Heshmati and Jungsuk Kim 
Institute for the Study of Labor (IZA)
Keywords: income inequality, poverty reduction, equity, inclusive growth, fiscal policy, developing Asia, adva…
JEL-code: D63 E62 I32 I38 J68 O47 P46

 

18 Unemployment Transitions to Stable and Unstable Jobs Before and During the Crisis
Amparo Nagore García and Arthur van Soest 
Institute for the Study of Labor (IZA)
Keywords: dual labour markets, business cycle, unemployment durations, re-employment probability
JEL-code: J64 C41 E32

 

19 A Note on the Representative Adaptive Learning Algorithm
Jaqueson Kingeski Galimberti and Michele Berardi 
KOF Swiss Economic Institute, ETH Zurich
Keywords: expectations, learning algorithms, forecasting, learning-to-forecast, least squares, stochastic grad…
JEL-code: C53 D83 D84 E37

 

20 Globalization and Inflation: A Swiss Perspective
John A. Tatom 
Indiana State University, Scott College of Busines…
Keywords: Inflation, Globalization, Switzerland, GDP gap
JEL-code: E31 E32 F4

 

21 Modeling the relationship between GDP and unemployment for Okun’s law specific to Jordan
Hassan alamro and Qusay Al-dalaien 
University Library of Munich, Germany
Keywords: unemployment, okun’s law, gap model, Autoregressive Distributed Lag(ARDL) approach, co-integration, …
JEL-code: E23 E24 J01

 

22 Editorial for the Special Issue on ‘Computational Methods for Russian Economic and Financial Modelling’
Dean Fantazzini 
University Library of Munich, Germany
Keywords: Forecasting; oil price; Google; Russian stock market; T-distribution with vector degrees of freedom;…
JEL-code: C02 C11 C22 C32 C61 C68 E5 G1 G2 J0 J1

 

23 The sectorial impact of commodity price shocks in Australia
Joaquin L. Vespignani and Stephen J Knop 
University Library of Munich, Germany
Keywords: Commodity prices, Commodity Shocks, Australian economy
JEL-code: E0 E00 E30 F20

 

24 Post Reunification Economic Fluctuations in Germany: A Real Business Cycle Interpretation
Michael A. Flor 
Universitaet Augsburg, Institute for Economics
Keywords: Macroeconomic Data, National Income, Product Accounts, Economic Fluctuations, Real Business Cycles
JEL-code: C82 E01 E32

 

25 Capturing the Interaction of Trend, Cycle, Expectations and Risk Premia in the US Term Structure
Max Soloschenko and Enzo Weber 
University of Regensburg, Department of Economics
Keywords: unobserved components; expectation hypothesis; cointegration; identification; risk premium
JEL-code: C32 C58 E43 G12

 

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#Macroeconomics – Working papers (#RePEc, 17/04/2014)

working_papers1

Source: RePEc – EconPapers

La spesa pubblica in Italia prima e dopo la crisi
Antonio Affuso and V. Bravi 
Department of Economics, Parma University (Italy)
Keywords: fiscal consolidation, public expenditure, panel, economic crisis
JEL-code: E62 H50 C33
Created/Revised: 2014Downloads

Competitiveness disparities behind the economic crisis in the euro area
Olavi Rantala 
The Research Institute of the Finnish Economy
Keywords: Euro crisis, competitiveness
JEL-code: C67 E64 F16
Created/Revised: 2014-04-01Downloads

From the State Theory of Money to Modern Money Theory: An Alternative to Economic Orthodoxy
L. Randall Wray 
Levy Economics Institute, The
Keywords: Modern Money Theory; Chartalism; State Money; Knapp; Innes; Schumpeter; Keynes; Minsky; Goodhart; In…
JEL-code: B1 B3 B15 B22 B25 B52 E40 E50 E62 H5 H60 N1
Created/Revised: 2014-03Downloads

Self-Monitoring or Reliance on Newswire Services: How Do Financial Market Participants Process Central Bank News?
Bernd Hayo and Matthias Neuenkirch 
Philipps-Universität Marburg, Faculty of Business …
Keywords: Central Bank Communication, Financial Market Participants, Information Processing, Interest Rate Dec…
JEL-code: D83 E52 E58
Created/Revised: 2014Downloads

EMU: The Sustainability Issue
Frédéric Teulon 
Department of Research, Ipag Business School
Keywords: European Monetary Union; European Central Bank (EBC); Eurozone; Stability growth pact; Financial cri…
JEL-code: E42 E44 G38
Created/Revised: 2014-03-28Downloads

Fiscal policy, institutional quality and central bank transparency
Meixing Dai, Moïse Sidiropoulos and Eleftherios Spyromitros 
Bureau d’Economie Théorique et Appliquée, UDS, Str…
Keywords: Central bank opacity, fiscal disciplining effect, distortions, institutional quality, corruption.
JEL-code: D73 E52 E58 E61 E63 H50
Created/Revised: 2014Downloads

Crises and Productivity in Good Booms and in Bad Booms
Gary Gorton and Guillermo Ordonez 
Penn Institute for Economic Research, Department o…
Keywords: Financial Crises, Credit booms, Productivity
JEL-code: E3 E5
Created/Revised: 2014-02-01Downloads

Cyclical components and dual long memory in the foreign exchange rate dynamics: the Tunisian case
Rania Jammazi and Chaker Aloui 
Department of Research, Ipag Business School
Keywords: exchange rates; time series decomposition; HML test; dual long memory.
JEL-code: E30 F31
Created/Revised: 2014-03-28Downloads

Explaining Educational Attainment across Countries and over Time
Diego Restuccia and Guillaume Vandenbroucke 
University of Toronto, Department of Economics
Keywords: schooling, productivity, life expectancy, labor supply.
JEL-code: O1 O4 E24 J22 J24
Created/Revised: 2014-03-28Downloads

10 Family Firms, Soft Information and Bank Lending in a Financial Crisis
Leandro D’Aurizio, Tommaso Oliviero and Livio Romano 
Centre for Studies in Economics and Finance (CSEF)…
Keywords: Family firms, Financial crisis, Soft information, Bank lending
JEL-code: C81 D22 E44 G21 G32 L26
Created/Revised: 2014-03-29Downloads

11 Noise Bubbles
Mario Forni, Luca Gambetti, Marco Lippi and Luca Sala 
University of Modena and Reggio E., Dept. of Econo…
JEL-code: C32 E32 E62
Created/Revised: 2014-03Downloads

12 Noisy News in Business Cycles
Mario Forni, Luca Gambetti, Marco Lippi and Luca Sala 
University of Modena and Reggio E., Dept. of Econo…
Keywords: Invertibility, Nonfundamentalness, SVAR, Imperfect Information, News, Noise, Signal, Business cycles
JEL-code: C32 E32 E62
Created/Revised: 2014-03Downloads

13 Global Implications of the Renminbi’s Ascendance
Eswar Prasad 
Asian Development Bank Institute
Keywords: renminbi internationalization; reserve currency; capital account convertibility; exchange rate flexi…
JEL-code: E50 F30 F40
Created/Revised: 2014-03-28Downloads

14 Residential Property Price Indexes for Japan: An Outline of the Japanese Official RPPI
W. Erwin Diewert, Kiyohiko Nishimura, Chihiro Shimizu and Tsutomu Watanabe 
Vancouver School of Economics
Keywords: House price indexes; hedonic price indexes; repeat sales price indexes; aggregation bias; housing de…
JEL-code: C2 C23 C43 D12 E31 R21
Created/Revised: 2014-03-27Downloads

15 Effects of Unconventional Monetary Policy on Financial Institutions
Gabriel Chodorow-Reich 
Harvard University OpenScholar
Created/Revised: 2014-01Downloads

16 Recursive utility and jump-diffusions
Knut K. Aase 
Department of Business and Management Science, Nor…
Keywords: Recursive utility; jump dynamics; the stochastic maximum principle; early resolution; utility gradie…
JEL-code: D51 D53 D90 E21 G10 G12
Created/Revised: 2014-03-25Downloads

17 The Euro crisis and contradictions of Neoliberalism in Europe
Engelbert Stockhammer 
School of Economics, Kingston University London
Keywords: Euro crisis; Neoliberalism; European economic policy; European integration; financial crisis; sovere…
JEL-code: B50 E60
Created/Revised: 2013-12-08Downloads

18 The ACA: Some Unpleasant Welfare Arithmetic
Casey Mulligan 
National Bureau of Economic Research, Inc
JEL-code: E24 H21 I38
Created/Revised: 2014-03Downloads

19 Der Weg in die Nullzins- und Hochverschuldungsfalle
Gunther Schnabl 
Friedrich-Schiller-University Jena
Keywords: Geldpolitik, Finanzpolitik, Niedrigzinsfalle, Hochverschuldungsfalle, Finanzmarktkrisen
JEL-code: E32 E44 E58 E62
Created/Revised: 2014-03-31Downloads

20 The Fiscal Compact and Current Account Patterns in Europe
Stefan Behrendt 
Friedrich-Schiller-University Jena
Keywords: fiscal policy, Fiscal Compact, current account, sectoral balances
JEL-code: E27 E61 E62 E66 F32 H62 H63
Created/Revised: 2014-03-26Downloads

21 Crisis continues to smoulder
IMK Düsseldorf, OFCE Paris and WIFO Wien 
IMK at the Hans Boeckler Foundation, Macroeconomic…
Created/Revised: 2013Downloads

22 Is the supply side all that counts?
Alexander Herzog-Stein, Fabian Lindner and Rudolf Zwiener 
IMK at the Hans Boeckler Foundation, Macroeconomic…
Created/Revised: 2013Downloads

23 Structural Asymmetries at the Roots of the Eurozone Crisis: What’s New for Industrial Policy in the EU?
Alberto Botta 
Levy Economics Institute, The
Keywords: Center–Periphery Structural Symmetries, EU Industrial Policy
JEL-code: E12 F15 O25 O52
Created/Revised: 2014-03Downloads

24 Revisiting an important Canadian natural experiment with new methods: an evaluation of the impact of the 1994 tax decrease on smoking
Philip Merrigan and François Gardes 
Université Panthéon-Sorbonne (Paris 1), Centre d’E…
Keywords: Cigarette, price-elasticity, difference in difference.
JEL-code: D1 E2 H2 I1
Created/Revised: 2014-03Downloads

25 Information in the yield curve: A Macro-Finance approach
Hans Dewachter, Leonardo Iania and Marco Lyrio 
National Bank of Belgium
Keywords: Macro-finance model, Yield curve, Expectations hypothesis
JEL-code: E43 E44 E47
Created/Revised: 2014-03Downloads

26 Crisis Mismanagement in The United States And Europe: Impact On Developing Countries And Longer-Term Consequences
Yýlmaz Akyüz 
Turkish Economic Association
Keywords: Monetary policy, quantitative easing, tapering, emerging markets
Created/Revised: 2014Downloads

27 Macroprudential Regulation and the Role of Monetary Policy
William John Tayler and Roy Zilberman 
ZBW – German National Library of Economics
Keywords: Bank Capital Regulation.,Macroprudential Policy,Basel III,Monetary Policy,Cost Channel
JEL-code: E32 E44 E52 E58 G28
Created/Revised: 2014-03-31Downloads

28 Does Interbank Market Matter for Business Cycle Fluctuation? An Estimated DSGE Model with Financial Frictions for the Euro Area
Federico Giri 
Universita’ Politecnica delle Marche (I), Dipartim…
Keywords: Bayesan estimation, DSGE model, financial frictions, interbank market
JEL-code: E30 E44 E51
Created/Revised: 2014-03Downloads

29 Shaky emerging economies in view of the global financial crisis: the Turkish economy after three decades of liberal reforms
Faruk Ülgen 
HAL
Keywords: liberalisation ; stability ; sustainable growth regime ; Turkish economy
Created/Revised: 2013-10-28Downloads

30 Why is Old Workers’ Labor Market More Volatile? Unemployment Fluctuations over the Life-Cycle
Jean-Olivier Hairault, François Langot and Thepthida Sopraseuth 
Institute for the Study of Labor (IZA)
Keywords: search, matching, business cycle, life-cycle
JEL-code: E32 J11 J23
Created/Revised: 2014-03Downloads

31 Source of Underestimation of Monetary Policy Effect: Re-examination of the Policy Effectiveness in Japan’s 1990s
Masahiko Shibamoto 
Research Institute for Economics & Business Admini…
Keywords: Monetary policy, Surprise target changes, Vector autoregression model, Japan
JEL-code: E52 E58
Created/Revised: 2014-03Downloads

32 Exchange Rate Adjustment, Monetary Policy and Fiscal Stimulus in Japan’s Escape from the Great Depression
Masahiko Shibamoto and Masato Shizume 
Research Institute for Economics & Business Admini…
Keywords: Great depression, Japanese economy, Macroeconomic policy, Expectation, Vector auto-regressive model,…
JEL-code: E52 E63 N15
Created/Revised: 2014-03Downloads

33 Inflation Targeting and Inflation Expectations: Evidence for Brazil and Turkey
Sumru Altug and Cem Cakmakli 
Koc University-TUSIAD Economic Research Forum
Keywords: Inflation targeting, survey-based inflation expectations, forecasting, state space model.
JEL-code: E31 E37 C32 C51
Created/Revised: 2014-04Downloads

34 Some revisions to the sectoral factor model of core inflation
Gael Price 
Reserve Bank of New Zealand
Created/Revised: 2013-10Downloads

35 Exchange rate and commodity price pass‐through in New Zealand
Miles Ian Parker and Benjamin Wong 
Reserve Bank of New Zealand
Created/Revised: 2014-03Downloads

36 Short-term Indicator Models for Quarterly GDP Growth in the BRIICS: A Small-scale Bridge Model Approach
Thomas Chalaux and Cyrille Schwellnus 
OECD Publishing
Keywords: forecasting, growth, bridge models, short-term indicators, indicateurs de court terme, croissance, m…
JEL-code: C53 E37
Created/Revised: 2014-03-31Downloads

37 A new recession-dating algorithm for South Africa
Pieter Laubscher 
Stellenbosch University, Department of Economics
Keywords: Business cycles, turning points, quantitative analysis of business cycles
JEL-code: C41 E32
Created/Revised: 2014Downloads

38 THE CREDIT CYCLE AND THE BUSINESS CYCLE IN CANADA AND THE U.S.: TWO SOLITUDES
B. Lavender P. Siklos 
Laurier Centre for Economic Research and Policy An…
Keywords: macro-financial linkages, credit standards, Loan Officer Survey
JEL-code: E32 E5 G21
Created/Revised: 1970Downloads

39 WHEN IS LIFT-OFF? EVALUATING FORWARD GUIDANCE FROM THE SHADOW
P. Siklos M. Neuenkirch 
Laurier Centre for Economic Research and Policy An…
Keywords: Bank of Canada, central bank communication, committee behaviour, monetary policy committees, shadow …
JEL-code: E43 E52 E58 E61 E69
Created/Revised: 1970Downloads

40 RISK ASSESSMENT UNDER A NONLINEAR FISCAL POLICY RULE
Cristos Shiamptanis 
Laurier Centre for Economic Research and Policy An…
Keywords: unemployment, employment reallocation, sectoral shifts, aggregate shocks, conditional quantile regre…
JEL-code: C63 E62 E63 F34 H63
Created/Revised: 1970Downloads

41 Outperforming IMF Forecasts by the Use of Leading Indicators
Katja Drechsel, Sebastian Giesen and Axel Lindner 
Halle Institute for Economic Research
Keywords: IMF WEO forecasts, leading indicators, real-time data
JEL-code: C52 C53 E02 E32 E37 O19
Created/Revised: 2014-04Downloads

42 Social Security and the Interactions Between Aggregate and Idiosyncratic Risk
Daniel Harenberg and Alexander Ludwig 
University of Cologne, Department of Economics
Keywords: social security, idiosyncratic risk, aggregate risk, welfare
JEL-code: C68 E27 E62 G12 H55
Created/Revised: 2014-03-20Downloads

43 Macroeconomic and fiscal challenges faced by the Southern and Eastern Mediterranean region
Marek DABROWSKI 
CASE-Center for Social and Economic Research
Keywords: Southern and Eastern Mediterranean, fiscal policy, macroeconomic policy, energy and food subsidies, …
JEL-code: E62 E63 H24 H56 H62 H63
Created/Revised: 2014-04Downloads

44 Growth with Unused Capacity and Endogenous Depreciation
Fabrizio Patriarca and Claudio Sardoni 
Levy Economics Institute, The
Keywords: Kaleckian Models of Growth; Capital Accumulation; Capital Depreciation; Income Distribution and Grow…
JEL-code: E12 E25 O40
Created/Revised: 2014-04Downloads

45 Minsky and the Subprime Mortgage Crisis: The Financial Instability Hypothesis in the Era of Financialization
Eugenio Caverzasi 
Levy Economics Institute, The
Keywords: Hyman Minsky; Financial Instability Hypothesis; Jan Toporowski; Capital Market Inflation; Financiali…
JEL-code: B2 B5 E44 G01
Created/Revised: 2014-04Downloads

#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

#Macroeconomics – Working papers (#RePEc, 29/03/2014)

working_papers1

Source: RePEc – EconPapers

A Tourism Conditions Index
Chia-Lin Chang, Hui-Kuang Hsu and Michael McAleer 
Erasmus University Rotterdam, Erasmus School of Ec…
JEL-code: B41 E44 E47 G32
Created/Revised: 2014-01-01Downloads

Technology, Wage Dispersion and Inflation
Shoujian Zhang 
Centre for Dynamic Macroeconomic Analysis
Keywords: inflation, search frictions, wage dispersion
JEL-code: E24 E52
Created/Revised: 2014-03-12Downloads

Does Human Capital Risk Explain The Value Premium Puzzle?
Serginio Sylvain 
University Library of Munich, Germany
Keywords: Adjustment cost, Book-to-Market Equity, Endogenous growth, General equilibrium, Human capital, Value…
JEL-code: E20 G10 G12
Created/Revised: 2014-03-14Downloads

Corruption’s and Democracy’s effects on Economic Growth
Amira Zaouali 
University Library of Munich, Germany
Keywords: Corruption, Democracy, Economic Growth, dynamic panel.
JEL-code: C23 E02 O43 O47
Created/Revised: 2014-03-18Downloads

Economy as the value streams. Preliminary study
Andrzej Góralczyk 
University Library of Munich, Germany
Keywords: value streams, economic stability, economy growth, economic shocks, scaling in economy
JEL-code: A10 A12 B00 B50 C00 C50 E20 F01 O10 Y20
Created/Revised: 2014-03-17Downloads

FLUCTUATIONS IN UNCERTAINTY
Nicholas Bloom 
U.S. Census Bureau, Center for Economic Studies
Keywords: Uncertainty, risk, volatility, investment
JEL-code: E2 E3 O3 O4
Created/Revised: 2014-03Downloads

Creative accounting practices and measurement methods: Evidence from Turkey
Ata Ozkaya 
Kiel Institute for the World Economy
Keywords: fiscal rules,creative accounting,contingent liabilities,hidden public debt,IMF policies
JEL-code: E62 H61 H63 H83
Created/Revised: 2014Downloads

An Empirical Illustration of Index Construction using Israeli Data on Vegetables
, and Walter Erwin Diewert 
Vancouver School of Economics
Keywords: Laspeyres, Paasche, Fisher, Lowe, Young and Mudgett-Stone price indexes, Consumer Price Indexes, sea…
JEL-code: C43 C81 E01 E31
Created/Revised: 2014-03-11Downloads

How Central Banks Learn the True Model of the Economy
Federico Ravenna 
CIRPEE
Keywords: Learning, Optimal policy, Model misspecification
JEL-code: E58
Created/Revised: 2014Downloads

10 Market Discipline at Thai Banks before the Asian Crisis
Komain Jiranyakul and Timothy Opiela 
University Library of Munich, Germany
Keywords: Market discipline, market monitoring, systemic risk, banking and currency crises
JEL-code: E44 G21
Created/Revised: 2014-03Downloads

11 Search Frictions, Job Flows and Optimal Monetary Policy
Shoujian Zhang 
Centre for Dynamic Macroeconomic Analysis
Keywords: inflation, search frictions, money, welfare
JEL-code: E24 E52
Created/Revised: 2014-03-12Downloads

12 REALLY UNCERTAIN BUSINESS CYCLES
Nicholas Bloom, Max Floetotto, Nir Jaimovich, Itay Saporta-Eksten and Stephen J. Terry 
U.S. Census Bureau, Center for Economic Studies
Keywords: uncertainty, adjustment costs, and business cycles.
JEL-code: D92 E22 D8 C23
Created/Revised: 2014-03Downloads

13 Can fiscal decentralization alleviate government consumption volatility?
Davide Furceri, Agnese Sacchi and Simone Salotti 
University Library of Munich, Germany
Keywords: Fiscal policy, fiscal decentralization, spending volatility, automatic stabilisers, country size
JEL-code: E62 H60 H71 H72
Created/Revised: 2014-03Downloads

14 Budget deficit, money growth and inflation: Empirical evidence from Vietnam
Hoang Van Khieu 
University Library of Munich, Germany
Keywords: Inflation; Money Growth; Budget Deficit; Structural Vector Auto-regressive Model.
JEL-code: E31 E58 E61
Created/Revised: 2014-02-12Downloads

15 Analyzing and Forecasting Movements of the Philippine Economy using the Dynamic Factor Models (DFM)
Dennis Sioson Mapa and Maria Christina Simbulan 
University Library of Munich, Germany
Keywords: Dynamic Factor Model, Leading Economic Indicators, Common Factor
JEL-code: C4 E3 E61
Created/Revised: 2014-03Downloads

16 BRICs versus Other Emerging Economies: The Case of India
Dimitrios Nikolaou Koumparoulis 
University Library of Munich, Germany
Keywords: BRICs, India, Emerging Markets, Foreign Direct Investment, Elections
JEL-code: E66
Created/Revised: 2014Downloads

17 Inequality and Debt in a Model with Heterogeneous Agents
Federico Ravenna and Nicolas Vincent 
CIRPEE
Keywords: Inequality, Debt, DSGE model
JEL-code: E21 E32 E44
Created/Revised: 2014Downloads

18 Openness and Optimal Monetary Policy
Giovanni Lombardo and Federico Ravenna 
CIRPEE
Keywords: International Trade, Exchange Rate Regimes, Non-tradable Goods, Optimal Policy
JEL-code: E3 E42 E52 F41
Created/Revised: 2014Downloads

19 Volatility Transmission of Overnight Rate along the Yield Curve in Pakistan
Asif Mahmood 
University Library of Munich, Germany
Keywords: monetary policy, volatility, yield curve, GARCH
JEL-code: E4 E5 G1
Created/Revised: 2014-03-09Downloads

20 Political Competition and the Limits of Political Compromise
Alexandre B. Cunha and Emanuel Ornelas 
Centre for Economic Performance, LSE
Keywords: Political turnover, efficient policies, public debt
JEL-code: E61 E62 H30 H63
Created/Revised: 2014-03Downloads

21 اشكالية البطالة فى دول مجلس التعاون الخليجي
Hussein Elasrag 
University Library of Munich, Germany
Keywords: unemployment , job creation , GCC countries, Population growth rates
JEL-code: E0 J0 J64 J65
Created/Revised: 2014-01Downloads

22 Federal Reserve Communications and Newswire Coverage
Matthias Neuenkirch 
ULB — Universite Libre de Bruxelles
Keywords: Central Bank Communication; Federal Open Market Committee; Federal Reserve; Monetary Policy; Newswir…
JEL-code: D83 E52 E58
Created/Revised: 2014-01-29Downloads

23 Natural disasters and macroeconomic performance: The role of residential investment
Holger Strulik and Timo Trimborn 
University of Goettingen, Department of Economics
Keywords: natural disasters,economic recovery,residential housing,economic growth
JEL-code: E20 O40 Q54 R31
Created/Revised: 2014Downloads

24 Fiscal and monetary policies in complex evolving economies
G. Fagiolo, Tania Treibich, A. Roventini, M. Napoletano and G. Dosi 
Maastricht University, Graduate School of Business…
Keywords: Computational Techniques; Simulation Modeling; Business Fluctuations; Cycles; Monetary Policy; Finan…
JEL-code: C63 E32 E52 G01 G21
Created/Revised: 2014Downloads

25 Consumer Loans in Cambodia: Implications on Banking Stability
Channarith Meng 
University Library of Munich, Germany
Keywords: Housing loans, consumer loans, stress testing, banking stability, Cambodia, financial crisis
JEL-code: E58 G01 G21 G28 O16
Created/Revised: 2014-03-05Downloads

#Macroeconomics – Working papers (#RePEc, 20/03/2014)

working_papers1

Source: RePEc – EconPapers

Cash management and payment choices: A simulation model with international comparisons 

Le Policy mix de la zone UEMOA garantit-il la Stabilité Intérieure et la Croissance ? 

Is there a retirement consumption puzzle in Japan? Evidence based on panel data on households in the agricultural sector 

Puede un índice de sostenibilidad fiscal predecir la ocurrencia de crisis cambiarias? Evidencias para algunos países seleccionados 

Price setting behaviour in Lesotho: Stylised facts from consumer retail prices

Equilibrium Models of Macroeconomic Science: What to Look For in (DSGE) Models? 

An Empirical Study on the New Keynesian Wage Phillips Curve: Japan and the US 

Does the Great Recession imply the end of the Great Moderation? International evidence 

Reserve requirements in the brave new macroprudential world 

Assessing the supply of the Maltese economy using a production function approach

Learning From the Doers: Developing Country Lessons for Advanced Economy Growth 

The role of the Central Bank in the Economic Slow-down in Russia 

Lucas paradox and allocation puzzle: Is the euro area different? 

Slow Information Diffusion and the Inertial Behavior of Durable Consumption 

The demand for currency in Malta

Macroeconomic Consequences of Terms of Trade Episodes, Past and Present 

A Post-Crisis Reading of the ‘Role of Monetary Policy’ 

Monetary Policy and Heterogeneous Inflation Expectations in South Africa 

A Theory of the Intergenerational Dynamics of Inflation Beliefs and Monetary Institutions 

Real wages in the business cycle: an unresolved conflict between theory and facts in mainstream macroeconomics

Continuous Markov equilibria with quasi-geometric discounting 

Studying the Socio-Economics of Ageing using Social Accounting and Socio-Demographic Matrices. An application to Portugal 

An Optimum Currency Crisis 

The Institution of Macroeconomic Measurement in Indonesia Before the 1980s 

Trade and Uncertainty

Exiting from QE 

The Economics of Work Schedules under the New Hours and Employment Taxes 

Monetary Policy and Value Judgments: Did we forget Myrdal’s legacy ? 

Perspectives on the U.S. economy and monetary policy 

Do Banks Lend Less in Uncertain Times?

Modeling the Transition Towards Renminbi’s Full Convertibility: Implications for China’s Growth 

Consumer price indices and the identification problem 

An Empirical Test of Money Demand in Thailand from 1993 to 2012 

Can the UAE Avoid the Oil Curse by Economic Diversification? 

Böhm-Bawerk meets Keynes: What does determine the interest rate, and can the latter become negative?

#Macroeconomics – Working papers (#RePEC, 17/03/2014)

repec3

Source: RePEc – EconPapers

PRICE FLEXIBILITY IN BRITISH SUPERMARKETS: MODERATION AND RECESSION 

Theories of financial crises: An overview 

Financialisation, distribution, growth and crises: Long-run tendencies 

Financial, economic and social systems: French Regulation School, Social Structures of Accumulation and Post-Keynesian approaches compared 

Keynesian macroeconomics without the LM curve: IS-MP-IA model and Taylor rule applied to some CESEE economies

An Estimated Small Open Economy Model with Labour Market Frictions 

Safe Assets’ Scarcity, Liquidity and Spreads 

Direct and Indirect Use of Fossil Fuels in Farming: Cost of Fuel-price Rise for Indian Agriculture 

Modelling Inflation Shifts and Persistence in Tunisia: Perspective from an Evolutionary spectral approach 

Stock returns and Inflation in Pakistan

U.S. Natural Gas Exports and their Global Impacts 

Measuring Environmental and Economic Efficiency in Italy: an Application of the Malmquist-DEA and Grey Forecasting Model 

Monetary Policy and Value Judgments: Did we forget Myrdal’s legacy ? 

On the Relationship between Public and Private Investment in the Euro Area 

Testing Unemployment Theories: A Multivariate Long Memory Approach

Macroéconomie: working papers (RePEc, 20/05/2012)

Source : NEP (New Economics Papers) | RePEc

  • Price stability and financial imbalances: rethinking the macrofinancial framework after the 2007-8 financial crisis
    Date: 2011-12-15
    By: Panzera, Fabio S.
    URL: http://d.repec.org/n?u=RePEc:fri:fribow:fribow00423&r=mac
    Keywords: inflation targeting ; New Keynesian consensus ; financial imbalances ; macro-prudential regulation ; counter-cyclical tax on debt
    JEL: E32
  • Monetary Policy, Asset Prices and Adaptive Learning
    Date: 2012-04
    By: Vicente da Gama Machado
    URL: http://d.repec.org/n?u=RePEc:bcb:wpaper:274&r=mac
  • Evaluating Changes in the Monetary Transmission Mechanism in the Czech Republic
    Date: 2012-04
    By: Roman Horváth (Institute of Economic Studies, Faculty of Social Sciences, Charles University, Prague, Czech Republic)
    Michal Franta (Czech National Bank)
    Marek Rusnák (Czech National Bank)
    URL: http://d.repec.org/n?u=RePEc:fau:wpaper:wp2012_11&r=mac
    Keywords: Monetary policy transmission; Sign restrictions; Time-varying parameters
    JEL: E44
  • Monetary Policy and Rational Asset Price Bubbles
    Date: 2011-11
    By: Jordi Galí
    URL: http://d.repec.org/n?u=RePEc:bge:wpaper:592&r=mac
    Keywords: monetary policy rules, stabilization policies, asset price volatility
    JEL: E44
  • Revisiting the Great Moderation using the Method of Indirect Inference
    Date: 2012-05
    By: Minford, Patrick (Cardiff Business School)
    Ou, Zhirong (Cardiff Business School)
    URL: http://d.repec.org/n?u=RePEc:cdf:wpaper:2012/9&r=mac
    Keywords: Great Moderation; Shocks; Monetary policy; Optimal Timeless Rule; Taylor Rule; Indirect Inference; Wald statistic
    JEL: E42
  • Monetary Policy and Central Banking after the Crisis: The Implications of Rethinking Macroeconomic Theory
    Date: 2011
    By: Thomas I. Palley
    URL: http://d.repec.org/n?u=RePEc:imk:wpaper:8-2011&r=mac
  • Central Bank Independence and Macro-prudential Regulation
    Date: 2012-04-23
    By: Fabian Valencia
    Kenichi Ueda
    URL: http://d.repec.org/n?u=RePEc:imf:imfwpa:12/101&r=mac
    Keywords: Central bank autonomy , Central banks , Economic models , Monetary policy ,
  • Lessons from the Great Recession: Need for a New Paradigm
    Date: 2012-02-01
    By: Shaikh, Salman
    URL: http://d.repec.org/n?u=RePEc:pra:mprapa:38531&r=mac
    Keywords: Great Recession; Great Depression; Financial Crisis; Credit Crunch; Subprime Mortgage Crisis; Housing Market Bubble; Securitization; Leveraging; Shadow Banking
    JEL: E02
  • Business Cycle Synchronization During US Recessions Since the Beginning of the 1870’s
    Date: 2012-04
    By: Nikolaos Antonakakis (Department of Economics, Vienna University of Economics and Business)
    URL: http://d.repec.org/n?u=RePEc:wiw:wiwwuw:wuwp140&r=mac
    Keywords: Dynamic conditional correlation, Business cycle synchronization, Recession, Globalisation
    JEL: E3
  • The Relevance of Haavelmo’s Macroeconomic Theorizing for Contemporary Policy Making
    Date: 2012-02-27
    By: Chand, Sheetal K. (Neapolis University, Cyprus.)
    URL: http://d.repec.org/n?u=RePEc:hhs:osloec:2012_006&r=mac
    Keywords: financial crisis; investment; monetary and fiscal policies
    JEL: E22
  • Regime Switches, Agents’ Beliefs, and Post-World War II U.S. Macroeconomic Dynamics
    Date: 2012
    By: Francesco Bianchi
    URL: http://d.repec.org/n?u=RePEc:duk:dukeec:12-04&r=mac
  • Is Fiscal Stimulus a Good Idea?
    Date: 2012-05
    By: Ray C. Fair (Cowles Foundation, Yale University)
    URL: http://d.repec.org/n?u=RePEc:cwl:cwldpp:1861&r=mac
    Keywords: Fiscal stimulus, Multipliers
    JEL: E17
  • Roads to Prosperity or Bridges to Nowhere? Theory and Evidence on the Impact of Public Infrastructure Investment
    Date: 2012-05
    By: Sylvain Leduc
    Daniel Wilson
    URL: http://d.repec.org/n?u=RePEc:nbr:nberwo:18042&r=mac
    JEL: E62
  • Economic (in)stability under monetary targeting
    Date: 2012-03
    By: Luca Sessa (Bank of Italy)
    URL: http://d.repec.org/n?u=RePEc:bdi:wptemi:td_858_12&r=mac
    Keywords: local indeterminacy, monetary targeting, real effects of money, money-in-the-utility-function, money-in-the-production-function
    JEL: E5
  • Investigating the business cycle properties of tourist flows to Barbados
    Date: 2011
    By: Mayers, Sherry-Ann
    Jackman, Mahalia
    URL: http://d.repec.org/n?u=RePEc:pra:mprapa:38646&r=mac
    Keywords: Tourism; Business Cycle; Barbados
    JEL: E32
  • The curious case of Indian agriculture
    Date: 2012-04-28
    By: Banik, Nilanjan
    Biswas, Basudeb
    URL: http://d.repec.org/n?u=RePEc:pra:mprapa:38634&r=mac
    Keywords: Agriculture output; Beveridge-Nelson Decomposition; Rainfall; India
    JEL: E31
  • The European Financial and Economic Crisis: Alternative Solutions from a (Post-) Keynesian Perspective
    Date: 2011
    By: Eckhard Hein
    Achim Truger
    Till van Treeck (Macroeconomic Policy Institute (IMK) at the Hans Boeckler Foundation)
    URL: http://d.repec.org/n?u=RePEc:imk:wpaper:9-2011&r=mac
  • Skill-Biased Technological Change and the Business Cycle
    Date: 2011-05
    By: Almut Balleer
    Thijs van Rens
    URL: http://d.repec.org/n?u=RePEc:bge:wpaper:560&r=mac
    Keywords: skill-biased technology, skill premium, VAR, long-run restrictions, capital-skill complementarity, business cycle
    JEL: E24
  • Nonlinear zdventures at the zero lower bound
    Date: 2012
    By: Jesús Fernández-Villaverde
    Grey Gordon
    Pablo Guerrón-Quintana
    Juan F. Rubio-Ramírez
    URL: http://d.repec.org/n?u=RePEc:fip:fedpwp:12-10&r=mac
    Keywords: Keynesian economics ; Nonlinear theories ; Interest rates
  • The Dynamic Effects of Fiscal Stimulus in a Two Sector Open Economy
    Date: 2011-09
    By: Ross Guest
    Anthony J. Makin
    URL: http://d.repec.org/n?u=RePEc:deg:conpap:c016_045&r=mac
  • Money is an Experience Good: Competition and Trust in the Private Provision of Money
    Date: 2011-05
    By: Ramon Marimon
    Juan Pablo Nicolini
    Pedro Teles
    URL: http://d.repec.org/n?u=RePEc:bge:wpaper:563&r=mac
    Keywords: E40, E50, E58, E60
  • How Important is the Intensive Margin of Labor Adjustment?
    Date: 2011-10
    By: Thijs van Rens
    URL: http://d.repec.org/n?u=RePEc:bge:wpaper:579&r=mac
    Keywords: hours worked, intensive margin labor adjustment
    JEL: E24
  • A Sticky-Dispersed Information Phillips Curve: a model with partial and delayed information
    Date: 2012-04
    By: Marta Areosa
    Waldyr Areosa
    Vinicius Carrasco
    URL: http://d.repec.org/n?u=RePEc:bcb:wpaper:276&r=mac
  • The Instability of the Banking Sector and Macrodynamics: Theory and Empirics
    Date: 2011-09
    By: Stefan Mittnik
    Willi Semmler
    URL: http://d.repec.org/n?u=RePEc:deg:conpap:c016_080&r=mac
    JEL: E2
  • Monetary Policy Flixibility in floating Exchange Rate Regimes: Currency Denomination and Import Shares
    Date: 2012
    By: Troeger, Vera (University of Warwick)
    URL: http://d.repec.org/n?u=RePEc:cge:warwcg:81&r=mac
  • The analytics of SVARs: a unified framework to measure fiscal multipliers
    Date: 2012
    By: Dario Caldara
    Christophe Kamps
    URL: http://d.repec.org/n?u=RePEc:fip:fedgfe:2012-20&r=mac
  • A Model of Rule-of-Thumb Consumers With Nominal Price and Wage Rigidities
    Date: 2012-05
    By: Sergio Ocampo Díaz
    URL: http://d.repec.org/n?u=RePEc:bdr:borrec:707&r=mac
    Keywords: DSGE, nominal rigidities, rule of thumb consumers. Classification JEL: E32, E37, C68.
  • Prudential Policy for Peggers
    Date: 2012-05
    By: Stephanie Schmitt-Grohe
    Martin Uribe
    URL: http://d.repec.org/n?u=RePEc:nbr:nberwo:18031&r=mac
    JEL: E31
  • Structural Unemployment
    Date: 2011-07
    By: Benedikt Herz and Thijs van Rens
    URL: http://d.repec.org/n?u=RePEc:bge:wpaper:568&r=mac
    Keywords: structural unemployment, mismatch, dispersion labor market conditions, worker mobility, job mobility, wage rigidities
    JEL: E24
  • Hoarding of International Reserves and Sterilization in Dollarized and Indebted Countries : an effective monetary policy?
    Date: 2012
    By: Layal Mansour (Université de Lyon, Lyon, F-69007, France ; CNRS, GATE Lyon St Etienne,F-69130 Ecully, France)
    URL: http://d.repec.org/n?u=RePEc:gat:wpaper:1208&r=mac
    Keywords: Monetary policy, International Reserve, Sterilization, Foreign Liabilities,Dollarized countries, Turkey, Lebanon
    JEL: E52
  • A Model of Rule-of-Thumb Consumers With Nominal Price and Wage Rigidities
    Date: 2012-05-07
    By: Sergio Ocampo Díaz
    URL: http://d.repec.org/n?u=RePEc:col:000094:009595&r=mac
  • Labour market regimes and unemployment in OECD countries
    Date: 2011
    By: Simon Sturn (Macroeconomic Policy Institute (IMK) at the Hans Boeckler Foundation)
    URL: http://d.repec.org/n?u=RePEc:imk:wpaper:6-2011&r=mac
    JEL: E3
  • What does financial volatility tell us about macroeconomic fluctuations?
    Date: 2012
    By: Marcelle Chauvet
    Zeynep Senyuz
    Emre Yoldas
    URL: http://d.repec.org/n?u=RePEc:fip:fedgfe:2012-09&r=mac
  • A Model of Shadow Banking
    Date: 2011-05
    By: Nicola Gennaioli
    Andrei Shleifer
    Robert Vishny
    URL: http://d.repec.org/n?u=RePEc:bge:wpaper:576&r=mac
    Keywords: securitization, neglected risk, financial fragility
    JEL: E51
  • A Microfoundation for Normalized CES Production Functions with Factor-Augmenting Technical Change
    Date: 2011-09
    By: Jakub Growiec
    URL: http://d.repec.org/n?u=RePEc:deg:conpap:c016_013&r=mac
    Keywords: CES production function, normalization, Weibull distribution, direction of technical change, directed R&D, optimal technology choice
    JEL: E23
  • The Nature of Countercyclical Income Risk
    Date: 2012-05
    By: Fatih Guvenen
    Serdar Ozkan
    Jae Song
    URL: http://d.repec.org/n?u=RePEc:nbr:nberwo:18035&r=mac
    JEL: E24
  • Forecasting national recessions using state level data
    Date: 2012
    By: Michael T. Owyang
    Jeremy M. Piger
    Howard J. Wall
    URL: http://d.repec.org/n?u=RePEc:fip:fedlwp:2012-013&r=mac
    Keywords: Recessions ; Business cycles ; Economic conditions
  • Remittances Channel and Fiscal Impact in the Middle East, North Africa, and Central Asia
    Date: 2012-04-25
    By: Yasser Abdih
    Christian Ebeke
    Adolfo Barajas
    Ralph Chami
    URL: http://d.repec.org/n?u=RePEc:imf:imfwpa:12/104&r=mac
    Keywords: Business cycles , Capital inflows , Cross country analysis , Demand , External shocks , Middle East and Central Asia , North Africa , Private consumption , Tax revenues , Workers remittances ,
  • Selective hiring and welfare analysis in labor market models
    Date: 2012-09
    By: Christian Merkl
    Thijs van Rens
    URL: http://d.repec.org/n?u=RePEc:bge:wpaper:570&r=mac
    Keywords: labor market models, welfare, optimal unemployment insurance
    JEL: E24
  • Understanding Bubbly Episodes
    Date: 2012-02
    By: Vasco Carvalho
    Alberto Martín
    Jaume Ventura
    URL: http://d.repec.org/n?u=RePEc:bge:wpaper:605&r=mac
    Keywords: bubbles, dynamic inefficiency, economic growth, financial frictions, pyramid schemes
    JEL: E32
  • Tobin’S Q Versus Cape Versus Caper: Predicting Stock Market Returns Using Fundamentals and Momentum
    Date: 2012
    By: Ed Tower
    URL: http://d.repec.org/n?u=RePEc:duk:dukeec:12-02&r=mac
    Keywords: CAPE, CAPER, Tobin’s q, momentum, stock market
  • Misallocation and Productivity Effects of the Smoot-Hawley Tariff
    Date: 2012-05
    By: Eric W. Bond
    Mario J. Crucini
    Tristan Potter
    Joel Rodrigue
    URL: http://d.repec.org/n?u=RePEc:nbr:nberwo:18034&r=mac
    JEL: E6
  • Tax Avoidance, Human Capital Accumulation and Economic Growth
    Date: 2011-12
    By: María Jesús Freire-Serén
    Judith Panadés i Martí
    URL: http://d.repec.org/n?u=RePEc:bge:wpaper:599&r=mac
    Keywords: tax avoidance, tax non-compliance, Economic growth
    JEL: E62
  • Recognizability and Liquidity of Assets
    Date: 2012
    By: Young Sik Kim (Department of Economics & SIRFE, Seoul National University Seoul, Korea)
    Manjong Lee (Department of Economics, Korea University, Seoul, Republic of Korea)
    URL: http://d.repec.org/n?u=RePEc:iek:wpaper:1206&r=mac
    Keywords: recognizability, liquidity, asset prices
    JEL: E40
  • Matching, Wage Rigidities and Efficient Severance Pay
    Date: 2012-02-29
    By: Fella, Giulio
    URL: http://d.repec.org/n?u=RePEc:pra:mprapa:38638&r=mac
    Keywords: Severance pay; renegotiation; wage rigidity
    JEL: E24
  • The Impact of Financialization on Income Distribution in the USA and Germany: A Proposal for a New Adjusted Wage Share
    Date: 2011
    By: Petra Duenhaupt (Macroeconomic Policy Institute (IMK) at the Hans Boeckler Foundation)
    URL: http://d.repec.org/n?u=RePEc:imk:wpaper:7-2011&r=mac
    JEL: E3
  • An endogenously clustered factor approach to international business cycles
    Date: 2012
    By: Neville Francis
    Michael T. Owyang
    Özge Savascin
    URL: http://d.repec.org/n?u=RePEc:fip:fedlwp:2012-014&r=mac
    Keywords: Business cycles ; Economic conditions
  • The World of Forking Paths: Latin America and the Caribbean Facing Global Economic Risks
    Date: 2012-03
    By: Andrew Powell
    URL: http://d.repec.org/n?u=RePEc:idb:wpaper:4766&r=mac
    JEL: E52
  • Anglo-Saxon Capitalism in Crisis? Models of Liberal Capitalism and the Preconditions for Financial Stability
    Date: 2011-06
    By: Konzelmann, S.
    Fovargue-Davies, M.
    URL: http://d.repec.org/n?u=RePEc:cbr:cbrwps:wp422&r=mac
    Keywords: Corporate governance, Regulation, Financial market instability, liberal capitalism, Varieties of capitalism
    JEL: E44
  • Institutions and credit
    Date: 2012
    By: Farla, Kristine (UNU-MERIT / MGSOG, Maastricht University)
    URL: http://d.repec.org/n?u=RePEc:dgr:unumer:2012038&r=mac
    Keywords: Institutions, Financial Development, Property Rights, Contract, Competition
    JEL: E44
  • Income Inequality and Savings: A Reassessment of the Relationship in Cointegrated Panels
    Date: 2011-09
    By: Tuomas Malinen
    URL: http://d.repec.org/n?u=RePEc:deg:conpap:c016_076&r=mac
    Keywords: Panel Cointegration, Top 1% Income Share, Private Consumption, Gross Savings
    JEL: E21
  • Laffer Strikes Again: Dynamic Scoring of Capital Taxes
    Date: 2011-09
    By: Holger Strulik
    Timo Trimborn
    URL: http://d.repec.org/n?u=RePEc:deg:conpap:c016_074&r=mac
    Keywords: Corporate Taxation, Capital Gains, Tax Allowances, Revenue Estimation, Laffer Curve, Dynamic Scoring.
    JEL: E60
  • Competition, Markups, and the Gains from International Trade
    Date: 2012-05
    By: Chris Edmond
    Virgiliu Midrigan
    Daniel Yi Xu
    URL: http://d.repec.org/n?u=RePEc:nbr:nberwo:18041&r=mac
    JEL: E23
  • Floating Exchange Rates as Employment Protection
    Date: 2011-09
    By: Yu-Fu Chen
    Gylfi Zoega
    URL: http://d.repec.org/n?u=RePEc:deg:conpap:c016_038&r=mac
    Keywords: Floating Exchange Rates, Labour-market Flexibility
    JEL: E32
  • Testing for linear and threshold cointegration under the spatial equilibrium condition
    Date: 2012-02-23
    By: Araujo-Enciso, Sergio Rene
    URL: http://d.repec.org/n?u=RePEc:ags:eaa123:122545&r=mac
    Keywords: Spatial Equilibrium Condition, Testing Cointegration, Demand and Price Analysis, Risk and Uncertainty, C15, E37,
  • Revisiting the effects of remittances on bank credit: a macro perspective
    Date: 2012
    By: Richard P.C. Brown (School of Economics, The University of Queensland)
    Fabrizio Carmignani (School of Economics, The University of Queensland)
    URL: http://d.repec.org/n?u=RePEc:qld:uq2004:461&r=mac
  • Volatile world market prices for dairy products – how do they affect domestic price formation: The German cheese market
    Date: 2012-02-23
    By: Weber, Sascha A.
    Salamon, Petra
    Hansen, Heiko
    URL: http://d.repec.org/n?u=RePEc:ags:eaa123:122542&r=mac
    Keywords: Price transmission, Cointegration, Granger-causality, Dairy, Risk and Uncertainty, C1, E3, E6, F3, Q1,
  • Does infrastructure really cause growth?: the time scale dependent causality nexus between infrastructure investments and GDP
    Date: 2012-05-04
    By: Krüger, Niclas (VTI)
    URL: http://d.repec.org/n?u=RePEc:hhs:ctswps:2012_015&r=mac
    Keywords: Infrastructure; GDP growth; Investment; Time scale decomposition
    JEL: E22
  • Gradual Green Tax Reforms
    Date: 2011-09
    By: Carlos de Miguel
    Baltasar Manzano (Universidade de Vigo and Economics for Energy)
    URL: http://d.repec.org/n?u=RePEc:efe:wpaper:04-2011&r=mac
    Keywords: Green Tax Reform, General Equilibrium
    JEL: E62