Macroeconomic Dynamics

1997 - 2026

From Cambridge University Press
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Volume 30, month January, 2026

The macroeconomics of the COVID-19 epidemic: the case of China pp. e1

Tao Peng, Ying Tung Chan and Raoul Minetti

Monetary/fiscal policy regimes in post-war Europe pp. e11

Othman Bouabdallah, Pascal Jacquinot and Valeria Patella

New results and a model of scale effects on growth – CORRIGENDUM pp. e12

Kul B. Luintel and Panayiotis M. Pourpourides

The effects of macroprudential policy on imperfect banking competition pp. e13

Matheus Anthony Melo

Consumer price-setting behaviour: evidence from food CPI microdata pp. e14

Fernando Martins and João Quelhas

Monetary policy, heterogeneous expectations, and the return of high inflation pp. e15

Fabio Milani

International reserve accumulation: balancing private inflows with public outflows pp. e16

Bada Han, Dongwook Kim and Youngjin Yun

Fiscal and inflation expectations of consumers in the era of large fiscal expansions pp. e17

Tomasz Łyziak, Joanna Mackiewicz-Łyziak and Małgorzata Kalbarczyk

Sovereign debt issuance and selective default pp. e19

Kirill Shakhnov and Wojtek Paczos

Financial and fiscal environmental regulation in a credit cycle model pp. e2

Ingrid Kubin and Thomas O. Zörner

Inflation disagreement and monetary transmission in Korea pp. e20

Boreum Kwak, Seri Shim and Peter Tillmann

The macroeconomics of AI capacity: insights from a two-asset growth model pp. e22

Jonathan Rice

Climate transition risk in the banking sector: what can prudential regulation do? pp. e23

Michael Grill, Alexandra Popescu and Elena Rancoita

Stimulating growth and welfare in the U.S pp. e24

James Richard Malley and Apostolis Philippopoulos

The role of SOEs in the transmission of fiscal policy shocks in China pp. e25

Makram El-Shagi and Lin Zhang

Rethinking inflation inequality: evidence from national accounts pp. e26

Marina Gindelsky and Robert Martin

Squaring the circle? When circular economy meets post-growth pp. e27

Arthur Boutiab and Tiziano Distefano

Variance-Maximizing Identification and the Plague of Confounding Shocks pp. e28

Alistair Dieppe, Neville Francis and Gene Kindberg-Hanlon

Rethinking productivity shocks: The role of monetary policy constraints pp. e29

Naafey Sardar

A global asymmetric duopoly game of relatively scarce resources pp. e3

Behnaz Minooei Fard, Giovanni Di Bartolomeo and Willi Semmler

Complex dynamics in a two-sector Solow–Swan Model pp. e30

Olaf Schmitz and Jan Wenzelburger

Development and sectoral labor income shares pp. e31

Daniel Schaefer

Macroprudential policy leakages in open economies: a multiperipheral approach pp. e32

Camilo Granados

Divisia monetary aggregates with unobserved assets pp. e33

Maksim Isakin and Apostolos Serletis

The role of the broadest money: tracking economic signal pp. e34

Hyun Park and Sohee Park

Optimal mix of monetary and fiscal policies in an innovation-driven economy pp. e35

Tatsuro Iwaisako

Monetary and central bank information shocks: tales from alternative identifications pp. e36

Bosung Jang and Inhwan So

Transition risks and sovereign debt costs: a premium on fossil resources? pp. e37

Mouez Fodha, Djamel Kirat and Chahir Zaki

Land, population, migration, and growth: a note revisiting the Solow mechanism in a panel framework pp. e38

Joao Tovar Jalles

Quarantine policy and labor market outcomes pp. e39

Asako Chiba, Shunsuke Hori and Taisuke Nakata

The effects of fiscal policy shocks: evidence from a Bayesian SVAR model with uncertain identifying assumptions pp. e4

Anna Sznajderska, Karol Szafranek and Alfred A. Haug

Does household debt affect the transmission mechanism of monetary policy? pp. e40

Juan Zurita

The effects of key parameters of the monetary policy reaction function on economic growth pp. e41

Makram El-Shagi and Paul Lukuliko Philemon

The welfare cost of an inflation shock on consumers: who loses the most? pp. e42

Sonia Cabral and António Rua

Equilibrium multiplicity and uniqueness under inflation targeting pp. e43

Alexandre Cunha

Optimal inflation target with expectations-driven liquidity traps pp. e44

Philip Coyle and Taisuke Nakata

Globalization and its growing impact on the natural rates of interest in developed economies pp. e45

Yudai Hatayama, Yuto Iwasaki, Kyoko Nakagami and Tatsuyoshi Okimoto

Does money growth have causal effect across the US inflation distribution? Evidence from a P-star model pp. e46

David Cronin and Niall McInerney

Interest-bearing money and banking in a news economy pp. e47

Adib Rahman

The effects of monetary policy on growth- and inflation-at-risk pp. e48

Konstantin Boss

Friedman’s money supply volatility hypothesis and the quantity theory of money: the evidence from the different types of money pp. e49

M. M. Islam Chowdhury and Apostolos Serletis

Debt, inflation and the shape of the global pandemic recovery pp. e6

Yixiao Zhou, Rodney Tyers and Damian Lenzo

Nonlinear dynamics in an environmental overlapping generations model with technology choice pp. e7

Luca Gori, Francesco Purificato and Mauro Sodini

Inefficiency unveiled: a Bayesian DSGE analysis of public investment in China pp. e8

Juha Tervala and Timothy Watson

Solving linear DSGE models with structure-preserving doubling methods pp. e9

Johannes Huber, Alexander Meyer-Gohde and Johanna Saecker

Volume 28, month December, 2024

The anatomy of government bond yields synchronization in the Eurozone pp. 1635-1672

Claudio Barbieri, Mattia Guerini and Mauro Napoletano

Optimal unemployment insurance with behavioral agents pp. 1673-1681

Hon Chung Yeung

Monetary policy and housing market cycles pp. 1682-1714

Shiu-Sheng Chen, Tzu-Yu Lin and Jen-Kuan Wang

Solving heterogeneous-belief asset pricing models with short-selling constraints and many agents pp. 1715-1738

Michael Hatcher

Inter-industry trade and business cycle dynamics pp. 1739-1767

Wolfgang Lechthaler and Mariya Mileva

A note on the neutrality of interest rates pp. 1768-1775

Apostolos Serletis and Libo Xu

How does trade policy uncertainty affect firms’ pollution emissions? Theory and evidence from China pp. 1776-1808

Xi Lin, Geng Huang and Ling-Yun He

New evidence on US monetary policy activism and the Taylor rule pp. 1809-1832

Chew Lian Chua and Sarantis Tsiaplias

Volume 28, month October, 2024

A view from outside: sovereign CDS volatility as an indicator of economic uncertainty pp. 1423-1450

Maximilian Boeck, Martin Feldkircher and Burkhard Raunig

Untimely destruction: pestilence, war, and accumulation in the long run pp. 1451-1492

Clive Bell, Hans Gersbach and Evgenij Komarov

Monetary policy and economic fluctuations pp. 1493-1511

Cosmas Dery and Apostolos Serletis

House prices and rents: a reappraisal pp. 1512-1538

Bertrand Achou, d’Albis, Hippolyte and Eleni Iliopulos

Unconventional policy instruments in the New Keynesian model pp. 1539-1560

Zineddine Alla, Raphael A. Espinoza and Atish R. Ghosh

The plague, the skill-premium, and the road to modern economic growth pp. 1561-1593

Martin Kaae Jensen and Rui Luo

Conspicuous leisure, time allocation, and obesity Kuznets curves pp. 1594-1634

Nathalie Mathieu-Bolh and Ronald Wendner

Volume 28, month September, 2024

A guide to estimating the canonical income process in quasidifferences pp. 1231-1252

Francis Chiparawasha and Dmytro Hryshko

On government spending and income inequality under monopolistic competition pp. 1253-1277

Juin-Jen Chang, Jang-Ting Guo and Wei-Neng Wang

The race between offshoring and automation in explaining wage polarization pp. 1278-1312

Mafalda Pinho, Oscar Afonso and Tiago Sequeira

On the decline in the magnitude of the expenditure multiplier pp. 1313-1345

Jesús Rodríguez-López and Mario Solis-Garcia

The Gold Standard and the international dimension of the Great Depression pp. 1346-1370

Luca Pensieroso and Romain Restout

Linear quadratic approximation of rationally inattentive control problems pp. 1371-1393

Jianjun Miao and Bo Zhang

Income tax reductions in production networks pp. 1394-1421

Chunyang Fu and Bin Wang

WITHDRAWAL – Global bank risk and monetary policy in an emerging economy pp. 1422-1422

Anonymous

Volume 28, month July, 2024

Financial shocks to banks, R&D investment, and recessions pp. 999-1022

Ryoji Ohdoi

Recovery from economic disasters pp. 1023-1048

Bruno Ćorić and Blanka Skrabic Peric

Technical change, task reallocation, and wage inequality pp. 1049-1072

Long Qian

Homeownership rates, housing policies, and co-residence decisions pp. 1073-1096

Nils Grevenbrock, Alexander Ludwig and Nawid Siassi

Land-price dynamics and macroeconomic fluctuations with general household preferences pp. 1097-1121

Been-Lon Chen, Zheng-Ze Lai and Shian-Yu Liao

Temporary prosperity or sustainable development: the long-run impact of developing pollution-intensive industries pp. 1122-1149

Hongyu Nian, Zhiwei Xu and Haitao Yin

Do business cycles result from stochastic shocks? pp. 1150-1160

Yi Zhu

Government debt and fiscal multipliers in the era of population aging pp. 1161-1181

Dooyeon Cho and Dong-Eun Rhee

Optimal forward guidance in monetary policy: Can central banks sway the public with projections? pp. 1182-1205

Christian Jensen

Creative destruction, human capital accumulation, and growth in a digital economy pp. 1206-1230

Lewei Liao, Xuezheng Qin, Xiaolong Li and Liutang Gong

Volume 28, month June, 2024

Simple mandates, monetary rules, and trend-inflation pp. 757-790

Szabolcs Deak, Paul Levine and Son T. Pham

Government spending multipliers with the Real Cost channel pp. 791-812

He Nie

Negative income tax and universal basic income in the eyes of Aiyagari pp. 813-825

Yongsung Chang, Jong-Suk Han and Sun-Bin Kim

On Mexican poverty-trap regimes and struggling to escape them pp. 826-854

Edgar Sánchez Carrera and Wiston Adrián Risso

Asset pricing with costly and delayed firm entry pp. 855-879

Lorant Kaszab, Aleš Maršál and Katrin Rabitsch

Alternative monetary policies and wealth and income inequality: the monetary instrument problem revisited pp. 880-912

Stephen J. Turnovsky and Yoichi Gokan

Undesired monetary policy effects in a bubbly world pp. 913-945

Giuseppe Ciccarone, Francesco Giuli, Enrico Marchetti, Valeria Patella and Massimiliano Tancioni

Structural breaks in seemingly unrelated regression models pp. 946-969

Shahnaz Parsaeian

Factor-augmented QVAR models: an observation-driven approach pp. 970-989

Willy Alanya-Beltran

Adjustments of factor income tax rates and aggregate (in)stability pp. 990-997

Kevin X. D. Huang, Qinglai Meng and Jianpo Xue

Government spending multipliers with the Real Cost channel – ERRATUM pp. 998-998

He Nie

Volume 28, month April, 2024

Fiscal policy and the twin deficits: structural changes matter pp. 517-545

Wongi Kim

Accounting for Mexican business cycles pp. 546-568

Pedro Brinca and João Ricardo Costa Filho

Aggregate health shock and retirement decision pp. 569-590

SeEun Jung and Hyunduk Suh

The elastic origins of tail asymmetry pp. 591-611

Satoshi Nakano and Kazuhiko Nishimura

Stock market alphas help predict macroeconomic innovations pp. 612-646

Mao-Wei Hung and Andy Jia-Yuh Yeh

Love of novelty: a source of innovation-based growth… or underdevelopment traps? pp. 647-674

Yuichi Furukawa, Tat-kei Lai and Kenji Sato

Three liquid assets pp. 675-698

Nicola Amendola, Lorenzo Carbonari and Leo Ferraris

From Neolithic Revolution to industrialization pp. 699-717

Angus Chu and Rongxin Xu

The effects of public sector employment on household savings and labor supply pp. 718-744

Luis G. Bettoni and Marcelo R. Santos

Deregulation as a source of China’s economic growth pp. 745-755

Shiyuan Pan, Kai Xu, Kai Zhao and Tianxu Chen

Volume 28, month March, 2024

Monetary policy announcements, consumers’ inflation expectations, and readiness to spend pp. 277-298

Max Breitenlechner, Martin Geiger and Johann Scharler

Whatever it takes to save the planet? Central banks and unconventional green policy pp. 299-324

Alessandro Ferrari and Valerio Nispi Landi

Energy and international business cycles pp. 325-344

Myunghyun Kim

R&D finance and economic growth: a Schumpeterian model with endogenous financial structures pp. 345-379

Ming-Fu Shaw, Juin-jen Chang and Ching-chong Lai

State of broker–dealer leverage and the transmission of monetary policy pp. 380-402

M. Iqbal Ahmed, Steven P. Cassou and Ruby P. Kishan

Severity reduction and private market distortion effects of voluntary and mandatory public annuity plans pp. 403-425

Sau-Him P. Lau and Qilin Zhang

Time-varying volatility and the housing market pp. 426-461

Charles Higgins and Ayse Sapci

Endogenous uncertainty and monetary policy pp. 462-477

ShinHyuck Kang and Kwangyong Park

Human capital and pensions with endogenous fertility and retirement pp. 478-494

Giam Pietro Cipriani and Tamara Fioroni

Social Security safety net with rare event risk pp. 495-515

Erin Cottle Hunt and Frank Caliendo

Volume 28, month January, 2024

Immigration, skill acquisition, and fiscal redistribution in a search equilibrium model pp. 1-31

Bright Isaac Ikhenaode

Non-Gaussian score-driven conditionally heteroskedastic models with a macroeconomic application pp. 32-50

Szabolcs Blazsek, Alvaro Escribano and Adrián Licht

UK household-sector money demand and Divisia monetary aggregates in the new millennium pp. 51-73

Adrian R. Fleissig and Barry Jones

Asymmetric effects of news through uncertainty pp. 74-98

Mario Forni, Luca Gambetti and Luca Sala

A note on international spillovers of economic policy uncertainty across business cycles: evidence from OECD countries pp. 99-111

Aaron Popp and Fang Zhang

IMF lending in sovereign default pp. 112-146

Georgios Stefanidis

Credit market developments and sectoral business cycles worldwide pp. 147-203

Talat Ulussever and Mustafa Kilinc

Money demand by firms, labor market frictions, and optimal long-run inflation pp. 204-233

Mehrab Kiarsi

A note on variable markup, knowledge spillover, and multiple steady states in the variety expansion model pp. 234-248

Tadashi Morita

Estimating sentiment and risk in a consumption model: a factor analysis approach pp. 249-275

Mohammed Bouaddi and Johnson Kakeu