Macroeconomic Dynamics

1997 - 2021

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Volume 25, issue 3, 2021

INTRODUCTION TO MACROECONOMIC DYNAMICS SPECIAL ISSUE ON NEW TOOLS FOR GLOBAL ANALYSIS OF ECONOMIC DYNAMICS pp. 603-608

Luca Gori, Angelo Antoci, Davide Fiaschi and Mauro Sodini

ENDOGENOUS DEMOGRAPHIC CHANGE, RETIREMENT, AND SOCIAL SECURITY pp. 609-631

Giam Pietro Cipriani and Tamara Fioroni

SOCIAL CAPITAL, HUMAN CAPITAL, AND FERTILITY pp. 632-650

Raffaella Coppier, Fabio Sabatini and Mauro Sodini

CHILDREN’S HEALTH, HUMAN CAPITAL ACCUMULATION, AND R&D-BASED ECONOMIC GROWTH pp. 651-668

Annarita Baldanzi, Alberto Bucci and Klaus Prettner

PUBLIC DEBT MANAGEMENT AND TAX EVASION pp. 669-692

Amedeo Argentiero and Roy Cerqueti

GLOBALLY INDETERMINATE GROWTH PATHS IN THE LUCAS MODEL OF ENDOGENOUS GROWTH pp. 693-704

Giovanni Bella, Paolo Mattana and Beatrice Venturi

OFFSHORING, RESHORING, UNEMPLOYMENT, AND WAGE DYNAMICS IN A TWO-COUNTRY EVOLUTIONARY MODEL pp. 705-732

Davide Radi, Fabio Lamantia and Gian Italo Bischi

DON’T FEED THE BEARS! ENVIRONMENTAL DEFENSIVE EXPENDITURES AND SPECIES-TYPICAL BEHAVIOR IN AN OPTIMAL GROWTH MODEL pp. 733-752

Angelo Antoci, Simone Borghesi and Paolo Russu

A CONTRIBUTION TO THE THEORY OF FERTILITY AND ECONOMIC DEVELOPMENT pp. 753-775

Luca Gori and Mauro Sodini

INTERGENERATIONAL MOBILITY AND SOCIAL STATUS IN A MODEL WITH HUMAN CAPITAL INVESTMENTS AND TRAIT INHERITANCE pp. 776-794

Rainer Andergassen and Franco Nardini

TAX POLICY AND FOOD SECURITY: A DYNAMIC ANALYSIS pp. 795-823

Pawan Gopalakrishnan and Anuradha Saha

A NOTE ON BALANCED-BUDGET INCOME TAXES AND AGGREGATE (IN)STABILITY IN MULTI-SECTOR ECONOMIES pp. 824-843

Nicolas Abad and Alain Venditti

Volume 25, issue 2, 2021

THE EFFECTS OF HIGH BANKING SPREADS IN AN INFORMAL ECONOMY pp. 281-303

Giovanni T. Merlin and Vladimir Teles

EXCHANGE RATE PASS-THROUGH INTO INDUSTRY-SPECIFIC PRICES: AN ANALYSIS WITH INDUSTRY-SPECIFIC EXCHANGE RATES pp. 304-336

Hülya Saygılı and Mesut Saygılı

LONG-RUN TAX INCIDENCE IN A HUMAN-CAPITAL-BASED ENDOGENOUS GROWTH MODEL WITH LABOR-MARKET FRICTIONS pp. 337-378

Been-Lon Chen, Hung-Ju Chen and Ping Wang

CONSUMER DEMAND, CONSUMPTION, AND ASSET PRICING: AN INTEGRATED ANALYSIS WITH INTERTEMPORAL TWO-STAGE BUDGETING pp. 379-425

H. Youn Kim, Keith McLaren and K. K. Gary Wong

TAXATION AND PUBLIC HEALTH INVESTMENT: POLICY CHOICES AND TRADEOFFS pp. 426-461

Manoj Atolia, Chris Papageorgiou and Stephen J. Turnovsky

REGIME-SWITCHING PRODUCTIVITY GROWTH AND BAYESIAN LEARNING IN REAL BUSINESS CYCLES pp. 462-488

Sami Alpanda

PATENTS AND GROWTH IN OLG ECONOMY WITH PHYSICAL CAPITAL pp. 489-508

Bharat Diwakar, Gilad Sorek and Michael Stern

EXPECTATION-DRIVEN ASSET PRICE FLUCTUATIONS UNDER THE SPIRIT OF CAPITALISM HYPOTHESIS: THE ROLE OF HETEROGENEITY pp. 509-535

Lise Clain-Chamosset-Yvrard

THE VANISHING EFFECT OF FINANCE ON ECONOMIC DEVELOPMENT pp. 536-578

Klaus Gründler

WELFARE EFFECTS OF PATENT PROTECTION IN A GROWTH MODEL WITH R&D AND CAPITAL ACCUMULATION pp. 579-602

Yibai Yang

Volume 25, issue 1, 2021

INTRODUCTION TO CURRENT ISSUES IN APPLIED MACROECONOMICS pp. 1-4

Makram El-Shagi and James Swofford

DO CORPORATE TAXES HARM ECONOMIC PERFORMANCE? EXPLAINING DISTORTIONS IN R&D- AND EXPORT-INTENSIVE UK FIRMS pp. 5-27

Ioannis Bournakis and Sushanta Mallick

CURRENT ACCOUNT DYNAMICS AND THE REAL EXCHANGE RATE: DISENTANGLING THE EVIDENCE pp. 28-58

Matthieu Bussiere, Aikaterini Karadimitropoulou and Miguel Leon-Ledesma

INTELLECTUAL PROPERTY AND PRODUCT MARKET COMPETITION REGULATIONS IN A MODEL WITH TWO R&D PERFORMING SECTORS pp. 59-80

Vahagn Jerbashian

INDEX NUMBERS AND REVEALED PREFERENCE RANKINGS pp. 81-99

Per Hjertstrand, James L. Swofford and Gerald A. Whitney

OPTIMIZING POLICYMAKERS’ LOSS FUNCTIONS IN CRISIS PREDICTION: BEFORE, WITHIN OR AFTER? pp. 100-123

Peter Sarlin and Gregor von Schweinitz

THE “DARK SIDE” OF CREDIT DEFAULT SWAPS INITIATION: A CLOSE LOOK AT SOVEREIGN DEBT CRISES pp. 124-153

Hippolyte Balima, Jean-Louis Combes and Alexandru Minea

REGIONAL CONVERGENCE IN LARGE EMERGING ECONOMIES: A DISTRIBUTION DYNAMICS APPROACH pp. 154-177

Kiril Tochkov

TEMPORAL AND SPATIAL DEPENDENCE OF INTERREGIONAL RISK SHARING: EVIDENCE FROM RUSSIA pp. 178-200

Jarko Fidrmuc and Moritz Degler

MONETARY POLICY WHEN THE ZERO LOWER BOUND IS WITHIN REACH: A SMOOTH TRANSITION REGRESSION APPROACH pp. 201-212

Andreas Steiner

ALTERNATIVE MONETARY POLICIES UNDER KEYNESIAN ANIMAL SPIRITS pp. 213-239

Tai-kuang Ho, Ya-chi Lin and Kuo-chun Yeh

WHEN DOES MONETARY MEASUREMENT MATTER (MOST)? pp. 240-256

Makram El-Shagi

INSTITUTIONS’ IMPACT ON THE CORRUPTION–GROWTH NEXUS: NONLINEARITIES AND TRANSMISSION CHANNELS pp. 257-279

Réda Marakbi, Camelia Romocea Turcu and Patrick Villieu

Volume 24, issue 8, 2020

TRANSMISSION OF MONETARY POLICY SHOCKS: DO INPUT–OUTPUT INTERACTIONS MATTER? pp. 1881-1903

Aarti Singh and Stefano Tornielli Di Crestvolant

LEARNING AND THE EVOLUTION OF THE FED’S INFLATION TARGET pp. 1904-1923

Fabio Milani

COULD OBESITY BE CONTAGIOUS? SOCIAL INFLUENCE, FOOD CONSUMPTION BEHAVIOR, AND BODY WEIGHT OUTCOMES pp. 1924-1959

Nathalie Mathieu-Bolh

QUANTILE-BASED ASYMMETRIC DYNAMICS OF REAL GDP GROWTH pp. 1960-1988

Xiaochun Liu

EFFECTS OF US QUANTITATIVE EASING ON LATIN AMERICAN ECONOMIES pp. 1989-2011

César Carrera and N.R. Ramírez-Rondán

GENERAL EQUILIBRIUM FEEDBACK REGARDING THE EMPLOYMENT EFFECTS OF LABOR TAXES pp. 2012-2032

Minchul Yum

PATENT PROTECTION, OPTIMAL LICENSING, AND INNOVATION WITH ENDOGENOUS ENTRY pp. 2033-2059

Keishun Suzuki

POPULATION AGING AND THE REAL INTEREST RATE IN THE LAST AND NEXT 50 YEARS: A TALE TOLD BY AN OVERLAPPING GENERATIONS MODEL pp. 2060-2103

Nao Sudo and Yasutaka Takizuka

SWITCHING TO GOOD POLICY? THE CASE OF CENTRAL AND EASTERN EUROPEAN INFLATION TARGETERS pp. 2104-2128

Andrej Drygalla

HIGHER EDUCATION SUBSIDY POLICY AND R&D-BASED GROWTH pp. 2129-2168

Takaaki Morimoto and Ken Tabata

Volume 24, issue 7, 2020

ISOELASTIC ELASTICITY OF SUBSTITUTION PRODUCTION FUNCTIONS pp. 1597-1634

Jakub Growiec and Jakub Mućk

ECONOMIC-DEMOGRAPHIC DEPENDENCY RATIO IN A LIFE-CYCLE MODEL pp. 1635-1673

Sau-Him P. Lau and Albert K. Tsui

THE FINANCIAL CONNECTEDNESS BETWEEN EUROZONE CORE AND PERIPHERY: A DISAGGREGATED VIEW pp. 1674-1699

Georgios Magkonis and Andreas Tsopanakis

PAY-AS-YOU-GO PENSIONS AND ENDOGENOUS RETIREMENT pp. 1700-1719

Pan Liu and Joachim Thøgersen

LABOR SHARE AND GROWTH IN THE LONG RUN pp. 1720-1757

Matthieu Charpe, Slim Bridji and Peter McAdam

INFORMATION VALUE OF THE INTEREST RATE AND THE ZERO LOWER BOUND pp. 1758-1784

Sang Seok Lee

PENSION FUND RESTORATION POLICY IN GENERAL EQUILIBRIUM pp. 1785-1814

Pim Kastelein and Ward E. Romp

OPTIMAL R&D SUBSIDIES WITH HETEROGENEOUS FIRMS IN A DYNAMIC SETTING pp. 1815-1849

Joshua D. Hall and Christopher A. Laincz

A NOTE ON OPTIMAL DEBT REDUCTION POLICIES pp. 1850-1860

Davide la Torre and Simone Marsiglio

GREEN TRANSITIONS AND THE PREVENTION OF ENVIRONMENTAL DISASTERS: MARKET-BASED VS. COMMAND-AND-CONTROL POLICIES pp. 1861-1880

Francesco Lamperti, Mauro Napoletano and Andrea Roventini

Volume 24, issue 6, 2020

THE EFFECTS OF FISCAL POLICY IN AN ESTIMATED DSGE MODEL—THE CASE OF THE GERMAN STIMULUS PACKAGES DURING THE GREAT RECESSION pp. 1315-1345

Andrej Drygalla, Oliver Holtemöller and Konstantin Kiesel

THE RELATIVE VALUATION OF GOLD pp. 1346-1391

Dirk G. Baur, Joscha Beckmann and Robert Czudaj

MONEY SUPPLY VOLATILITY AND THE MACROECONOMY pp. 1392-1402

Apostolos Serletis and Libo Xu

IS BUSINESS CYCLE ASYMMETRY INTRINSIC IN INDUSTRIALIZED ECONOMIES? pp. 1403-1436

James Morley and Irina B. Panovska

ONE EMU FISCAL POLICY FOR THE EURO pp. 1437-1477

Alexandre Cole, Chiara Guerello and Guido Traficante

THE TWO REVOLUTIONS, LANDED ELITES, AND EDUCATION DURING THE INDUSTRIAL REVOLUTION pp. 1478-1511

Duarte N. Leite, Oscar Afonso and Sandra T. Silva

HETEROGENEITY IN WAGE SETTING BEHAVIOR IN A NEW-KEYNESIAN MODEL pp. 1512-1546

Sylvester Eijffinger, Anderson Grajales-Olarte and Burak R. Uras

USER COSTS, THE FINANCIAL FIRM, AND MONETARY AND REGULATORY POLICY pp. 1547-1573

Maksim Isakin and Apostolos Serletis

A NOTE ON ROBUST MONETARY POLICY AND NON-ZERO TREND INFLATION pp. 1574-1594

Kohei Hasui

LEARNING AND THE SIZE OF THE GOVERNMENT SPENDING MULTIPLIER – ERRATUM pp. 1595-1595

Ewoud Quaghebeur

Volume 24, issue 5, 2020

THE NEW KEYNESIAN WAGE PHILLIPS CURVE: CALVO VS. ROTEMBERG pp. 1017-1041

Benjamin Born and Johannes Pfeifer

WORLD INTEREST RATES AND INEQUALITY: INSIGHT FROM THE GALOR–ZEIRA MODEL pp. 1042-1072

Michele Battisti, Tamara Fioroni and Andrea Lavezzi

APPROXIMATING THE VALUE FUNCTION FOR OPTIMAL EXPERIMENTATION pp. 1073-1086

Hans Amman, David A. Kendrick and Marco P. Tucci

THE IMPACT OF LEARNING ON BUSINESS CYCLE FLUCTUATIONS IN THE CONSUMER UNSECURED CREDIT MARKET pp. 1087-1123

Matthew N. Luzzetti and Seth Neumuller

PRECAUTIONARY LEARNING AND INFLATIONARY BIASES pp. 1124-1150

Chetan Dave and James Feigenbaum

AN ESTIMATED DSGE MODEL WITH A DEFLATION STEADY STATE pp. 1151-1185

Yasuo Hirose

A CLASSICAL MODEL OF EDUCATION, GROWTH, AND DISTRIBUTION pp. 1186-1221

Amitava Krishna Dutt and Roberto Veneziani

MONEY AND LIMITED ENFORCEMENT IN MULTILATERAL EXCHANGE pp. 1222-1239

Nicola Amendola and Leo Ferraris

LIQUIDITY REGULATION AND FINANCIAL STABILITY pp. 1240-1263

Yang Li

PRODUCTIVITY, NATIONALIZATION, AND THE ROLE OF “NEWS”: LESSONS FROM THE 1970S pp. 1264-1298

Nida Cakir Melek

A NOTE ON INFLATION DYNAMICS, PRICE VOLATILITY, AND FISCAL ACTIVISM pp. 1299-1313

Antonio Afonso and Joao Jalles

Volume 24, issue 4, 2020

A STICKY–DISPERSED INFORMATION PHILLIPS CURVE: A MODEL WITH PARTIAL AND DELAYED INFORMATION pp. 747-773

Marta B. M. Areosa, Waldyr Areosa and Vinicius Carrasco

INTERNATIONAL HOUSING MARKETS, UNCONVENTIONAL MONETARY POLICY, AND THE ZERO LOWER BOUND pp. 774-806

Florian Huber and Maria Teresa Punzi

EARLY CHILDHOOD HEALTH AND SCHOOLING ATTAINMENT GAPS WITHIN AND ACROSS COUNTRIES pp. 807-859

Ray Miller

SOCIAL DISTANCE AND ECONOMIC DEVELOPMENT pp. 860-881

Dimitrios Varvarigos and Guangyi Xin

HOW POWERFUL ARE NETWORK EFFECTS? A SKILL-BIASED TECHNOLOGICAL CHANGE APPROACH pp. 882-919

Oscar Afonso and Manuela Magalhães

ECONOMIC GROWTH WITH ENDOGENOUS ECONOMIC INSTITUTIONS pp. 920-934

Zhao Li, Yujing Chu and Tianruo Gao

IMPLEMENTING STOCHASTIC VOLATILITY IN DSGE MODELS: A COMMENT pp. 935-950

Lorenzo Bretscher, Alex Hsu and Andrea Tamoni

DETECTING SCAPEGOAT EFFECTS IN THE RELATIONSHIP BETWEEN EXCHANGE RATES AND MACROECONOMIC FUNDAMENTALS: A NEW APPROACH pp. 951-994

Lorenzo Pozzi and Barbara Sadaba

A NOTE ON THE IMPACT OF NEWS ON US HOUSEHOLD INFLATION EXPECTATIONS pp. 995-1015

Ben Zhe Wang, Jeffrey Sheen, Stefan Trück, Shih-Kang Chao and Wolfgang Härdle

Volume 24, issue 3, 2020

THE DANCE OF THE DYNAMICS: THE INTERPLAY OF TRADE AND GROWTH pp. 479-537

Lei Ji and John J. Seater

TREND INFLATION, RIGIDITIES, AND HUMAN CAPITAL GROWTH pp. 538-567

Adelaida Laguna and Marcos Sanso

ESTATE TAXATION AND HUMAN CAPITAL WITH INFORMATION EXTERNALITIES pp. 568-600

Aaron Hedlund

THE NONLINEAR NATURE OF COUNTRY RISK AND ITS IMPLICATIONS FOR DSGE MODELS pp. 601-628

Michal Brzoza-Brzezina and Jacek Kotłowski

DETECTING CONVERGENCE CLUBS pp. 629-669

Fuat C. Beylunioğlu, Ege Yazgan and Thanasis Stengos

THE MACROECONOMIC IMPACT OF MONETARY-FISCAL POLICY IN A “FISCAL DOMINANCE” WORLD pp. 670-707

Pengfei Jia

WELFARE EFFECTS OF PATENT PROTECTION IN A SEMI-ENDOGENOUS GROWTH MODEL pp. 708-728

Tatsuro Iwaisako

A NOTE ON OPTIMAL CAPITAL TAXATION WITH PREFERENCE EXTERNALITIES pp. 729-746

Cheng-Wei Chang and Ching-chong Lai

Volume 24, issue 2, 2020

ENERGY IN A MODEL OF FIRM ENTRY pp. 231-254

Soma Patra

CROSS-BORDER BANKING AND MACROPRUDENTIAL POLICIES IN ASYMMETRIC MONETARY UNIONS pp. 255-290

Lena Dräger and Christian R. Proaño

INTERGENERATIONAL MOBILITY IN EDUCATION AND OCCUPATION pp. 291-326

Jaime Alonso-Carrera, Jordi Caballe and Xavier Raurich

HETEROGENEOUS EXPECTATIONS AND ENDOGENOUS FLUCTUATIONS IN THE FINANCIAL ACCELERATOR FRAMEWORK pp. 327-359

Davide Bazzana

THE EXTENSION OF SHORT-TIME WORK SCHEMES DURING THE GREAT RECESSION: A STORY OF SUCCESS? pp. 360-402

Björn Brey and Matthias Hertweck

BANK RUNS: THE PREDEPOSIT GAME pp. 403-420

Karl Shell and Yu Zhang

HOW DOES THE MACROECONOMY RESPOND TO STOCK MARKET FLUCTUATIONS? THE ROLE OF SENTIMENT pp. 421-446

Wei-Fong Pan

SOVEREIGN DEBT IN THE UNITED STATES AND GROWTH EXPECTATIONS pp. 447-477

Juan Equiza-Goñi

Volume 24, issue 1, 2020

INTRODUCTION TO THE SPECIAL ISSUE “MACROECONOMIC MODELING AND EMPIRICAL EVIDENCE IN THE WAKE OF THE CRISIS†pp. 1-6

Antonio Palestrini

THE MINSKY MOMENT AS THE REVENGE OF ENTROPY pp. 7-23

J. Barkley Rosser

THE JANUS-FACED NATURE OF DEBT: RESULTS FROM A DATA-DRIVEN COINTEGRATED SVAR APPROACH pp. 24-54

Mattia Guerini, Alessio Moneta, Mauro Napoletano and Andrea Roventini

THE FALLACY OF FISCAL DISCIPLINE pp. 55-68

Paolo Canofari, Alessandro Piergallini and Giovanni Piersanti

STRUCTURAL DIFFERENCES IN THE EUROZONE: MEASURING FINANCIAL STABILITY BY FCI pp. 69-92

Matteo Foglia, Alfredo Cartone and Cristiana Fiorelli

ON THE (NONMONOTONIC) RELATION BETWEEN ECONOMIC GROWTH AND FINANCE pp. 93-112

Alberto Bucci, Simone Marsiglio and Catherine Prettner

THE OPTIMAL POLICY MIX TO ACHIEVE PUBLIC DEBT CONSOLIDATION pp. 113-129

Roberta Cardani, Lorenzo Menna and Patrizio Tirelli

FINANCIAL FIRM PRODUCTION OF INSIDE MONETARY AND CREDIT CARD SERVICES: AN AGGREGATION THEORETIC APPROACH pp. 130-160

William Barnett and Liting Su

THE MACROECONOMICS OF SHADOW BANKING pp. 161-190

Alberto Botta, Eugenio Caverzasi and Daniele Tori

ARE HIGHER WAGES GOOD FOR BUSINESS? AN ASSESSMENT UNDER ALTERNATIVE INNOVATION AND INVESTMENT SCENARIOS pp. 191-230

Alessandro Caiani, Alberto Russo and Mauro Gallegati