Macroeconomic Dynamics

1997 - 2025

From Cambridge University Press
Cambridge University Press, UPH, Shaftesbury Road, Cambridge CB2 8BS UK.
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Volume 29, month January, 2025

WITHDRAWN - GLOBAL BANK RISK AND MONETARY POLICY IN AN EMERGING ECONOMY pp. -

Paul Luk

Household debt and economic growth in Europe pp. -

Luca Barbaglia, S. Manzan and E. Tosetti

Designing a green memorandum: central bankers, politicians, monetary policy, and macroprudential regulation pp. -

Georgios Chortareas, Donato Masciandaro and Riccardo Russo

ECB’s central bank communication and monetary policy transmission: predictability from text-based sentiment indicators? pp. -

Robert Czudaj and Bich Ngoc Nguyen

Auxiliary state method: theory and application pp. -

Phuong V. Ngo

Effect of a cost channel on monetary policy transmission in a behavioral new Keynesian model pp. -

Daisuke Ida and Kenichi Kaminoyama

Mitigation or adaptation to climate change? The role of fiscal policy pp. -

Mouez Fodha and Hiroaki Yamagami

Human capital-based growth with depopulation and class-size effects: theory and empirics – ERRATUM pp. -

Alberto Bucci, Lorenzo Carbonari, Pedro Trivin and Giovanni Trovato

Fiscal policy in a monetary union: comparing different features of Next Generation EU pp. -

Caroline Bozou Ninou and Jerome Creel

Downward nominal wage rigidity and the optimal inflation target pp. -

Emrehan Aktug

Productivity convergence in manufacturing in the Eurozone: a hierarchical panel data approach pp. -

Guohua Feng, Bin Peng and Chuan Wang

Adaptive agents may be smarter than you think: unbiasedness in adaptive expectations pp. -

A. Palestrini, Domenico Delli Gatti, M. Gallegati and B. Greenwald

A single monetary policy for heterogeneous labour markets: the case of the euro area pp. -

Sandra Gomes, Pascal Jacquinot and Matija Lozej

Natural selection and innovation-driven growth pp. -

Angus Chu, Guido Cozzi, Haichao Fan and Dongmin Hu

Optimal monetary policy in a two-country New Keynesian model with deep consumption habits pp. -

Mitsuhiro Okano

Shocking the economy from 1967 up to 2023: reinforcing the relevance of Divisia money in US monetary policy pp. -

Christophe Barrette and Alain Paquet

Mergers and acquisitions and the aggregate markup pp. -

Linyi Cao and Lijun Zhu

Evaluating government debt thresholds and fiscal consolidation: insights from Organisation for Economic Co-operation and Development countries pp. -

Eugene Msizi Buthelezi

Tax evasion in a heterogeneous-agent incomplete-markets economy pp. -

Yunmin Chen and Tsaur-Chin Wu

Fiscal policy and inequality in middle- and high-income countries: redistributive effects of tax and spending shocks pp. -

Abdulaleem Isiaka, Alexander Mihailov and Giovanni Razzu

Macro-financial imbalances and cyclical systemic risk dynamics: understanding the factors driving the financial cycle in the presence of non-linearities pp. -

O’Brien, Martin and Sofia Velasco

Is the Hamilton regression filter really superior to Hodrick–Prescott detrending? pp. -

Reiner Franke, Jiri Kukacka and Stephen Sacht

Demographics and FDI: lessons from China’s one-child policy pp. -

John B. Donaldson, Christos Koulovatianos, Jian Li and Rajnish Mehra

Economic resilience and the dynamics of capital stock pp. -

Francisco-Javier Escribá-Pérez, María-José Murgui-García and Jose-Ramon Ruiz-Tamarit

The rise and fall of armies pp. -

Jonathan Adams

Uncertainty shocks and monetary policy rules in a small open economy pp. -

Sargam Gupta

Cycles and their important shocks: completing the investigation pp. -

Max Gillman and Adrian Pagan

Expectation formation and the Phillips curve revisited pp. -

Robert Czudaj

Is the working capital channel of the monetary policy quantitatively relevant? A structural estimation approach pp. -

Hamilton Galindo Gil

Money growth and inflation in the Euro Area, UK, and USA: measurement issues and recent results pp. -

Peter Ireland

Nonseparability of credit card services within Divisia monetary aggregates pp. -

William Barnett and Hyun Park

A quantitative general equilibrium approach to migration, remittances, and brain drain pp. -

Nikita Cespedes-Reynaga

Optimal fiscal policy in small open economies with habit persistence pp. -

Yongseung Jung

Vertical specialization, global expansion of supply chain, and convergence pp. -

Hamid Beladi, Sugata Marjit, Reza Oladi and Sepideh Raei

Endogenous innovation scale and patent policy in a monetary schumpeterian growth model pp. -

Po-yang Yu and Ching-chong Lai

Government size and the effectiveness of fiscal policy: the bigger the better? pp. -

Dooyeon Cho and Kyung-woo Lee

Optimal taxes and basic income during an episode of automation: a worker’s perspective pp. -

Manoj Atolia, Morgan Holland and Jonathan Kreamer

The municipal government channel of monetary policy pp. -

Matthew Wilson

Unionization, industry concentration, and economic growth pp. -

Colin Davis, Ken-ichi Hashimoto and Ken Tabata

Elderly care in an aging population: The impact of parental care needs on adult children pp. -

Jue Wang and Xiaoyan Youderian

Teenage childbearing and the welfare state pp. -

Alessandro Di Nola, Georgi Kocharkov, Jan Mellert and Haomin Wang

Industry clusters and macroeconomic (in)stability pp. -

Cheng-wei Chang

A model of endogenous education quality: the role of teachers pp. -

Mauro Rodrigues and Danilo Souza

Sectorial economic activity and Divisia monetary aggregates pp. -

Cosmas Dery

On boom-bust stock market dynamics, animal spirits, and the destabilizing nature of temporarily attracting virtual fixed points pp. -

Laura Gardini, Davide Radi, Noemi Schmitt, Iryna Sushko and Frank Westerhoff

Large excess reserves, central bank digital currency, and monetary policy pp. -

Jaevin Park

Costly enforcement in credit economies pp. -

Yilei Liu

Asymmetries in the oil market: accounting for the growing role of China through quantile regressions pp. -

Valérie Mignon and Jamel Saadaoui

Short-run fluctuations and long-run growth with recursive preferences pp. -

Barbara Annicchiarico, Alessandra Pelloni and Fabrizio Valenti

The credit-augmented Divisia aggregates and the monetary business cycle pp. -

Apostolos Serletis and Libo Xu

A granular investigation on the stability of money demand pp. -

Zhengyang Chen and Victor J. Valcarcel

Divisia monetary aggregates, monetary policy and business cycle analysis pp. -

Mala Raghavan

Bank shocks and the debt structure pp. -

David Gauthier

Shock persistence, uncertainty, and news-driven business cycles pp. -

Kevin Lee, Kalvinder Shields and Guido Turnip

The effect of the social security on aggregate effective labor supply: the role of endogenous human capital and of selection effects pp. -

Laurent Brembilla

Stock market volatility and commodity prices pp. -

Wilson Kang, Fernando Perez de Gracia and Ronald Ratti

A tale of two tails: 130 years of growth at risk pp. -

Martin Gächter, Elias Hasler and Florian Huber

A note on allowing state bankruptcy pp. -

Minjie Deng

Heterogeneous biased expectations of young and old individuals: macroeconomic effects and policy implications pp. -

Jaeho Lee

A Schumpeterian exploration of Gini and top/bottom income shares pp. -

Tetsugen Haruyama

Does household debt affect the size of the fiscal multiplier? pp. -

Juan Zurita

The dynamics of organic farming conversion in groundwater management pp. -

Gianluca Iannucci and Jean-Christophe Pereau

Intergenerational transfers, differential fertility, and wealth inequality pp. -

Aaron Cooke, Umesh Ghimire, Hyun Lee and Kai Zhao

Conventional vs. unconventional monetary policy under credit regulation pp. -

Ankit Kumar, Rahul Rao and Chetan Subramanian

Extreme comovements and downside/upside risk spillovers between oil prices and exchange rates pp. -

Cathy Ning and Dinghai Xu

Robotic capital - skill complementarity pp. -

Michele Battisti, Massimo Del Gatto, Antonio Francesco Gravina and Christopher F. Parmeter

International capital flows in the process of longevity catch-up pp. -

Kazuyuki Inagaki

Investments, credit guarantees, and government subsidies in a regime-switching framework pp. -

Xiang Liu and Zhaojun Yang

Expectations and the transmission of international uncertainty: Evidence from cross-country survey data pp. -

Joscha Beckmann and Martin Geiger

Climate investments, stock markets, and the open economy pp. -

Luccas Assis Attílio, João R. Faria and Peter McAdam

Human brain evolution in a Malthusian economy pp. -

Angus Chu

Automation, job reallocation, occupational choice, and related government policy pp. -

Chia-Hui Lu

Off-track monetary policy and housing pp. -

Jaroslav Horvath, Fredj Jawadi and Philip Rothman

Rising government debt on the path of going green in China pp. -

Haoyang Li, Yuqin Wang, Guohan Yang and Tongbin Zhang

The effects of offshoring on the gender hours gap in the US pp. -

Kangchul Jo

Understanding the gains from wage flexibility in a currency union: a fiscal policy connection pp. -

Eiji Okano and Kazuyuki Inagaki

A model of safe asset shortage and property taxes in China pp. -

Wenni Lei, Yuwei Luo and Dongzhou Mei

Liquidity trap, private behavior preference, and the micro-foundation of fiscal multiplier dynamics pp. -

Chuanglian Chen, Feng Dong, Xirong Gao and Jinhui Xu

Heterogeneous bequests and social inequalities pp. -

Kirill Borissov, Stefano Bosi, Thai Ha-Huy and Mikhail Pakhnin

How does skill distribution shape comparative advantage across industries? Theory and evidence pp. -

Zhongda Li, Jieyi Liu and Lu Liu

Sectoral inflation under fragmentation of information pp. -

Tatsushi Okuda and Tomohiro Tsuruga

Bankruptcy law as an alternative to fiscal policy in a Woodford model with a productivity shock pp. -

Aloísio Araújo and Vitor Costa

Endogenous working hours, overlapping generations, and balanced neoclassical growth pp. -

Andreas Irmen

Money supply and the yield curve pp. -

Libo Xu

Spillovers on the mean and tails: a semiparametric dynamic panel modeling approach pp. -

Yu-Fan Huang, Taining Wang and Subal Kumbhakar

Unraveling the enigma: decomposing China’s output and productivity growth in the new era—insights from listed companies pp. -

Minjie Huang, Shunan Zhao and Mengjun Xie

Frequency-dependent regime-switching in VAR models pp. -

Youngjin Hwang

No road with roses in developing countries: gender diversification in firm leadership and total factor productivity pp. -

Ioannis Bournakis, Victor Motta and Mara E. Vidali

Wealth inequality, entrepreneurship, and aggregate output: a tale of two centuries in the UK pp. -

Xiaoliang Yang, Peng Zhou and Xue Dong

Foreign financial shocks and domestic credit policy in the small open economy pp. -

Jae Hun Shim

Embodied technological progress, heterogeneous multiworker firms, and unemployment pp. -

Kosho Tanaka

Input misallocation and productivity dynamics pp. -

Hung-pin Lai and Subal C. Kumbhakar

Consumer preferences and inflation diffusion pp. -

Christian Glocker and Philipp Piribauer

Inference for DEA estimators of malmquist productivity indices: an overview, further improvements, and a guide for practitioners pp. -

Valentin Zelenyuk and Shirong Zhao

Financial frictions, monetary policy, and the term premium pp. -

Sungjun Huh and Insu Kim

The New Keynesian Wage Phillips Curve: Calvo vs. Rotemberg – CORRIGENDUM pp. -

Benjamin Born and Johannes Pfeifer

Identifying monetary policy shocks with Divisia money in the United Kingdom pp. -

Jane M. Binner, Rakesh K. Bissoondeeal, Barry Jones and Victor J. Valcarcel

Central banks, climate risks, and energy transition—a dynamic macro model and econometric evidence pp. -

Joao Paulo Braga, Pu Chen and Willi Semmler

Revisiting risky money pp. -

Travis D. Nesmith

Monetary policy in advanced and emerging economies pp. -

Apostolos Serletis and Cosmas Dery

Human capital-based growth with depopulation and class-size effects: theory and empirics pp. -

Alberto Bucci, Lorenzo Carbonari, Pedro Trivin and Giovanni Trovato

Productivity, competition, and market outcomes pp. -

Jordi Jaumandreu

Financial markets and misallocation: the long and short of leverage and productivity dispersion pp. -

Glenn Blackwood

Distance functions and the analysis of inefficiency pp. -

Muna Esheba and Apostolos Serletis

Stamp duty and spatial misallocation pp. -

Philip Chang, Jeffrey Hole, Yan Liang, Jakob Madsen and Xueli Tang

Are inflation movements global in nature? pp. -

Zo Andriantomanga

Technology shocks, directed technical progress and climate change pp. -

André Grimaud and Luc Rouge

Wealth, search, and human capital over the business cycle pp. -

Benjamin Griffy and Stanislav Rabinovich