Macroeconomic Dynamics

1997 - 2025

From Cambridge University Press
Cambridge University Press, UPH, Shaftesbury Road, Cambridge CB2 8BS UK.
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Volume 13, month November, 2009

AN EXTREMELY-LOW-INTEREST-RATE POLICY AND THE SHAPE OF THE JAPANESE MONEY DEMAND FUNCTION pp. 553-579

Kiyotaka Nakashima

TECHNOLOGY SHOCKS AND HOURS WORKED: A FRACTIONAL INTEGRATION PERSPECTIVE pp. 580-604

Luis Gil-Alana and Antonio Moreno

BUSINESS CYCLE EVIDENCE ON FIRM ENTRY pp. 605-624

Vivien Lewis

LEARNING DYNAMICS AND NONLINEAR MISSPECIFICATION IN AN ARTIFICIAL FINANCIAL MARKET pp. 625-655

Christophre Georges and John C. Wallace

THE EXACT DISCRETE MODEL OF A THIRD-ORDER SYSTEM OF LINEAR STOCHASTIC DIFFERENTIAL EQUATIONS WITH OBSERVABLE STOCHASTIC TRENDS pp. 656-672

Theodore Simos

A NOTE ON INFLATION PERSISTENCE IN A FAIR WAGE MODEL OF THE BUSINESS CYCLE pp. 673-684

David de la Croix, Grégory de Walque and Raf Wouters

A NOTE ON THE ANCHORING EFFECT OF EXPLICIT INFLATION TARGETS pp. 685-697

Jan Libich

Volume 13, month September, 2009

INTRODUCTION TO MEASUREMENT WITH THEORY pp. 151-168

William Barnett, Walter Diewert and Arnold Zellner

CONSISTENT COMPARISONS OF REAL INCOMES ACROSS TIME AND SPACE pp. 169-193

Robert Feenstra, Hong Ma and D.S. Prasada Rao

RECENT DEVELOPMENTS IN THE INTERNATIONAL COMPARISON OF PRICES AND REAL OUTPUT pp. 194-217

Robert Hill and T. Peter Hill

PRODUCTIVITY CONVERGENCE ACROSS INDUSTRIES AND COUNTRIES: THE IMPORTANCE OF THEORY-BASED MEASUREMENT pp. 218-240

Robert Inklaar and Marcel Timmer

ON THE RELATION BETWEEN GROSS OUTPUT– AND VALUE ADDED–BASED PRODUCTIVITY MEASURES: THE IMPORTANCE OF THE DOMAR FACTOR pp. 241-267

Bert Balk

MEASURING THE IMPACT OF FINANCIAL INTERMEDIATION: LINKING CONTRACT THEORY TO ECONOMETRIC POLICY EVALUATION pp. 268-316

Robert Townsend and Sergio Urzua

ADMISSIBLE CLUSTERING OF AGGREGATOR COMPONENTS: A NECESSARY AND SUFFICIENT STOCHASTIC SEMINONPARAMETRIC TEST FOR WEAK SEPARABILITY pp. 317-334

William Barnett and Philippe de Peretti

EXACT AND SUPERLATIVE PRICE AND QUANTITY INDICATORS pp. 335-380

Walter Diewert and Hideyuki Mizobuchi

MEASUREMENT ERROR IN MONETARY AGGREGATES: A MARKOV SWITCHING FACTOR APPROACH pp. 381-412

William Barnett, Marcelle Chauvet and Heather Tierney

LEARNING, COMMITMENT, AND MONETARY POLICY pp. 421-449

George Waters

FISCAL POLICY AND ECONOMIC DEVELOPMENT pp. 450-476

Alexandros Mourmouras and Peter Rangazas

HABIT FORMATION IN AN INTERDEPENDENT WORLD ECONOMY pp. 477-492

Shinsuke Ikeda and Ichiro Gombi

ABATEMENT TECHNOLOGY ADOPTION UNDER UNCERTAINTY pp. 493-522

Aude Pommeret and Katheline Schubert

DISCRETE FOURIER TRANSFORM FILTERS: CYCLE EXTRACTION AND GIBBS EFFECT CONSIDERATIONS pp. 523-534

Melvin Hinich, John Foster and Phillip Wild

ON INTEREST RATE POLICY AND EQUILIBRIUM STABILITY UNDER INCREASING RETURNS: A NOTE pp. 535-552

Kevin Huang and Qinglai Meng

Volume 13, month June, 2009

WHY ARE CAPITAL INCOME TAXES SO HIGH? pp. 279-304

Martin Flodén

EXCESS SENSITIVITY, LIQUIDITY CONSTRAINTS, AND THE COLLATERAL ROLE OF HOUSING pp. 305-326

Andrew Benito and Haroon Mumtaz

LONGEVITY, RETIREMENT, AND CAPITAL ACCUMULATION IN A RECURSIVE MODEL WITH AN APPLICATION TO MANDATORY RETIREMENT pp. 327-348

Jie Zhang and Junsen Zhang

CONSEQUENCES OF MODELING HABIT PERSISTENCE pp. 349-365

Luca Bossi and Pedro Gomis-Porqueras

PROCYCLICAL SOLOW RESIDUALS WITHOUT TECHNOLOGY SHOCKS pp. 366-389

Andrew Clarke and Alok Johri

AN INTERVIEW WITH HIROFUMI UZAWA pp. 390-420

Masahiro Okuno-Fujiwara and Karl Shell

Volume 13, month May, 2009

THE WEALTH DISTRIBUTION AND THE DEMAND FOR STATUS pp. 1-30

Yulei Luo and Eric Young

LEARNING, THE FORWARD PREMIUM PUZZLE, AND MARKET EFFICIENCY pp. 31-57

Avik Chakraborty

INFLATION RISK AND OPTIMAL MONETARY POLICY pp. 58-75

William Gavin, Benjamin Keen and Michael Pakko

LABOR TURNOVER COSTS AND THE CYCLICAL BEHAVIOR OF VACANCIES AND UNEMPLOYMENT pp. 76-96

José Silva and Manuel Toledo

A CORRESPONDENCE-THEORETIC APPROACH TO DYNAMIC OPTIMIZATION pp. 97-117

C. D. Aliprantis and Gabriele Camera

LIQUIDITY PROVISION AND BANKING CRISES WITH HETEROGENEOUS AGENTS pp. 118-132

Matías Fontenla

DOES THE TIMING OF THE CASH-IN-ADVANCE CONSTRAINT MATTER FOR OPTIMAL FISCAL AND MONETARY POLICY? pp. 133-150

Sanjay Chugh

Volume 13, month April, 2009

THE NEW KEYNESIAN PHILLIPS CURVE IN A TIME-VARYING COEFFICIENT ENVIRONMENT: SOME EUROPEAN EVIDENCE pp. 149-166

George Hondroyiannis, P.A.V.B. Swamy and George Tavlas

LEARNING THE INFLATION TARGET pp. 167-188

Ricardo Nunes

MONEY AND NOMINAL BONDS pp. 189-199

Alessandro Marchesiani and Pietro Senesi

A BAYESIAN CLASSIFICATION APPROACH TO MONETARY AGGREGATION pp. 200-219

Apostolos Serletis

CHILD LABOR AND THE EDUCATION OF A SOCIETY pp. 220-249

Clive Bell and Hans Gersbach

THE DYNAMICS OF WEALTH INEQUALITY IN A SIMPLE RAMSEY MODEL: A NOTE ON THE ROLE OF PRODUCTION FLEXIBILITY pp. 250-262

Cecilia Garcia-Penalosa and Stephen J Turnovsky

A NOTE ON DEMAND AND SUPPLY FACTORS IN MANUFACTURING OUTPUT ASYMMETRIES pp. 263-277

Oleg Korenok, Bruce Mizrach and Stanislav Radchenko

Volume 13, month February, 2009

NONLINEARITIES IN THE DYNAMICS OF THE EURO AREA DEMAND FOR M1 pp. 1-19

Alessandro Calza and Andrea Zaghini

BRIDGING THE GAP BETWEEN GROWTH THEORY AND THE NEW ECONOMIC GEOGRAPHY: THE SPATIAL RAMSEY MODEL pp. 20-45

Raouf Boucekkine, Carmen Camacho and Benteng Zou

SATISFICING SOLUTIONS TO A MONETARY POLICY PROBLEM pp. 46-80

Jacek Krawczyk and Kunhong Kim

MONETARY PERSISTENCE, IMPERFECT COMPETITION, AND STAGGERING COMPLEMENTARITIES pp. 81-106

Christian Merkl and Dennis Snower

OIL PRICE SHOCKS, SYSTEMATIC MONETARY POLICY, AND THE “GREAT MODERATION” pp. 107-137

Ana María Herrera and Elena Pesavento

A NOTE ON INFLATION, ECONOMIC GROWTH, AND INCOME INEQUALITY pp. 138-147

Yi Jin

Volume 12, month November, 2008

MARKET SEGMENTATION AND THE RESPONSE OF THE REAL INTEREST RATE TO MONETARY POLICY SHOCKS pp. 591-618

Filippo Occhino

EFFICIENCY–EQUALITY TRADE-OFF OF SOCIAL INSURANCE pp. 619-640

Radim Bohacek

COMPUTATION OF BUSINESS CYCLE MODELS: A COMPARISON OF NUMERICAL METHODS pp. 641-663

Burkhard Heer and Alfred Maussner

CAN THE U.S. MONETARY POLICY FALL (AGAIN) IN AN EXPECTATION TRAP? pp. 664-693

Roc Armenter and Martin Bodenstein

CONSTANT-ELASTICITY-OF-SUBSTITUTION PRODUCTION FUNCTION pp. 694-701

Hideki Nakamura and Masakatsu Nakamura

COMPARATIVE STATICS AND DYNAMICS OF THE ROMER R&D GROWTH MODEL WITH QUALITY UPGRADING pp. 702-716

Lutz Arnold and Wolfgang Kornprobst

A NOTE ON OIL DEPENDENCE AND ECONOMIC INSTABILITY pp. 717-723

Luís Aguiar-Conraria and Yi Wen

THE COST CHANNEL OF MONETARY POLICY AND INDETERMINACY pp. 724-735

Paolo Surico

Volume 12, month September, 2008

INTRODUCTION TO MACROECONOMIC DYNAMICS SPECIAL ISSUE: INEQUALITY pp. 149-153

Robert Townsend

ASSESSMENT OF RELATIONSHIP BETWEEN GROWTH AND INEQUALITY: MICRO EVIDENCE FROM THAILAND pp. 155-197

Hyeok Jeong

THE RISE AND FALL OF BRAZILIAN INEQUALITY: 1981–2004 pp. 199-230

Francisco Ferreira, Phillippe G. Leite and Julie Litchfield

GROWTH AND INEQUALITY: MODEL EVALUATION BASED ON AN ESTIMATION-CALIBRATION STRATEGY pp. 231-284

Hyeok Jeong and Robert Townsend

WEALTH INEQUALITY: DATA AND MODELS pp. 285-313

Marco Cagetti and Mariacristina De Nardi

A NEW FRAMEWORK FOR THE ANALYSIS OF INEQUALITY pp. 315-354

Flavio Cunha and James Heckman

DEBT POLICY RULE, PRODUCTIVE GOVERNMENT SPENDING, AND MULTIPLE GROWTH PATHS pp. 445-462

Koichi Futagami, Tatsuro Iwaisako and Ryoji Ohdoi

OUTSOURCING PETER TO PAY PAUL: HIGH-SKILL EXPECTATIONS AND LOW-SKILL WAGES WITH IMPERFECT LABOR MARKETS pp. 463-479

Carl Davidson, Steven Matusz and Andrei Shevchenko

DYNAMICS OF THE CONSUMPTION–CAPITAL RATIO, THE SAVING RATE, AND THE WEALTH DISTRIBUTION IN THE NEOCLASSICAL GROWTH MODEL pp. 481-502

Subrata Guha

USEFULNESS OF THE CONSTRAINED PLANNING PROBLEM IN A MODEL OF MONEY pp. 503-525

Joydeep Bhattacharya and Rajesh Singh

SECTORAL SHIFT, WEALTH DISTRIBUTION, AND DEVELOPMENT pp. 527-559

Kazuhiro Yuki

TASTE FOR VARIETY AND ENDOGENOUS FLUCTUATIONS IN A MONOPOLISTIC COMPETITION MODEL pp. 561-577

Thomas Seegmuller

NOTE ON FINITE APPROXIMATIONS OF THE ASYMPTOTICALLY IDEAL MODEL pp. 579-590

Apostolos Serletis and Asghar Shahmoradi

Volume 12, month June, 2008

MULTIDIMENSIONAL TRANSITIONAL DYNAMICS: A SIMPLE NUMERICAL PROCEDURE pp. 301-319

Timo Trimborn, Karl-Josef Koch and Thomas Steger

HUMAN CAPITAL ACCUMULATION AND THE TRANSITION FROM SPECIALIZATION TO MULTITASKING pp. 320-344

Raouf Boucekkine and Patricia Crifo

LEARNING FROM THE EXPECTATIONS OF OTHERS pp. 345-377

Jim Granato, Eran Guse and M. C. Sunny Wong

TRANSACTION SERVICES AND ASSET-PRICE BUBBLES pp. 378-403

Keiichiro Kobayashi

EUROPEAN FISCAL DISCIPLINE BEFORE AND AFTER EMU: CRASH DIET OR PERMANENT WEIGHT LOSS? pp. 404-424

Andrew Hughes Hallett and John Lewis

LÉVY-STABLE PRODUCTIVITY SHOCKS pp. 425-443

Edoardo Gaffeo

Volume 12, month April, 2008

INTRODUCTION TO SPECIAL ISSUE: DYNAMIC MACROECONOMIC THEORY pp. 1-1

Henrik Jensen, Peter Sørensen and Hans Jørgen Whitta-Jacobsen

EMPIRICAL PROPERTIES OF CLOSED- AND OPEN-ECONOMY DSGE MODELS OF THE EURO AREA pp. 2-19

Malin Adolfson, Stefan Laséen, Jesper Lindé and Mattias Villani

CREDIT AND GROWTH UNDER LIMITED COMMITMENT pp. 20-30

Costas Azariadis and Leo Kaas

THE FISCAL THEORY OF THE PRICE LEVEL PUZZLE: A NON-RICARDIAN VIEW pp. 31-44

Jean-Pascal Benassy

IMPLEMENTING INTERNATIONAL MONETARY COOPERATION THROUGH INFLATION TARGETING pp. 45-59

Gianluca Benigno and Pierpaolo Benigno

WHAT WE DON'T KNOW ABOUT THE MONETARY TRANSMISSION MECHANISM AND WHY WE DON'T KNOW IT pp. 60-74

Andreas Beyer and Roger Farmer

INDETERMINACY, BIFURCATIONS, AND UNEMPLOYMENT FLUCTUATIONS pp. 75-89

Frédéric Dufourt, Teresa Lloyd-Braga and Leonor Modesto

RAMSEY MONETARY POLICY WITH CAPITAL ACCUMULATION AND NOMINAL RIGIDITIES pp. 90-99

Ester Faia

DO RISK PREMIA PROTECT AGAINST BANKING CRISES? pp. 100-111

Hans Gersbach and Jan Wenzelburger

WELFARE-MAXIMIZING OPERATIONAL MONETARY AND TAX POLICY RULES pp. 112-125

Robert Kollmann

ROBUST MONETARY POLICY IN THE NEW KEYNESIAN FRAMEWORK pp. 126-135

Kai Leitemo and Ulf Söderström

MACROECONOMICS OF SUBSISTENCE POINTS pp. 136-147

Morten Ravn, Stephanie Schmitt-Grohe and Martín Uribe

MODELING MACROECONOMIC SUBAGGREGATES: AN APPLICATION OF NONLINEAR COINTEGRATION pp. 151-171

Adusei Jumah and Robert Kunst

REVISITING THE OPTIMAL STATIONARY PUBLIC INVESTMENT POLICY IN ENDOGENOUS GROWTH ECONOMIES pp. 172-194

Gustavo Marrero

DYNAMICS OF THE SAVING RATE IN THE NEOCLASSICAL GROWTH MODEL WITH CES PRODUCTION pp. 195-210

Manuel Gómez

QUEUING, SOCIAL INTERACTIONS, AND THE MICROSTRUCTURE OF FINANCIAL MARKETS pp. 211-233

Ulrich Horst and Christian Rothe

DISINFLATION AND EXCHANGE-RATE PASS-THROUGH pp. 234-256

Ozge Senay

LEARNING DYNAMICS AND ENDOGENOUS CURRENCY CRISES pp. 257-285

Inkoo Cho and Kenneth Kasa

NOTE ON CONVERGENCE UNDER INCOME TAX PROGRESSIVITY pp. 286-299

Patrick Pintus

Volume 12, month February, 2008

WHY ARE THE WAGES OF JOB STAYERS PROCYCLICAL? pp. 1-21

Donggyun Shin and Kwanho Shin

INCREASING RETURNS AND THE DESIGN OF INTEREST RATE RULES pp. 22-49

Wei Xiao

ASSET PRICING IN DYNAMIC STOCHASTIC GENERAL EQUILIBRIUM MODELS WITH INDETERMINACY pp. 50-71

Natalia Gershun and Sharon Harrison

ON SUNSPOTS, HABITS, AND MONETARY FACTS pp. 72-96

Stéphane Auray and Patrick Fève

A NOTE ON THE JOINT OCCURRENCE OF INSURANCE AND GAMBLING pp. 97-111

Larry Jones

INSIDE THE ECONOMIST'S MIND pp. 112-116

James Hamilton

A NOTE ON THE OPTIMAL LEVEL OF MONETARY AGGREGATION IN THE UNITED KINGDOM pp. 117-131

Thomas Elger, Barry Jones, David Edgerton and Jane M. Binner

A NOTE ON THE POLICY IMPLICATIONS OF USING DIVISIA CONSUMPTION AND MONETARY AGGREGATES pp. 132-149

Leigh Drake and Adrian R. Fleissig