Macroeconomic Dynamics

1997 - 2025

From Cambridge University Press
Cambridge University Press, UPH, Shaftesbury Road, Cambridge CB2 8BS UK.
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Volume 27, month December, 2023

Public Consumption Multipliers in Slack and Good Periods: Evidence From the Euro Area pp. 2031-2055

Marco Amendola

Income taxation and job creation pp. 2056-2085

Johanna Röhrs

Smells like animal spirits: the sensitivity of corporate investment to sentiment pp. 2086-2109

Gianni La Cava

Disequilibrium propagation of quantity constraints: application to the COVID lockdowns pp. 2110-2136

Antoine Mandel and Vipin P. Veetil

Income sources, cyclical behaviors of fiscal policy, and welfare conflict pp. 2137-2164

Meng Li and Chengrui Xiao

Price-level determinacy and monetary policy in a model with money and trend inflation pp. 2165-2190

Irfan Qureshi

Is there a national housing market bubble brewing in the United States? pp. 2191-2228

Rangan Gupta, Jun Ma, Konstantinos Theodoridis and Mark Wohar

Monetary policy transmission in China: dual shocks with dual bond markets pp. 2229-2251

Makram El-Shagi and Lunan Jiang

The optimal distribution of insured and uninsured deposits across banks pp. 2252-2269

Lukas Voellmy

Vintage article: the effect of monetary policy shocks in the UK: an external instruments approach pp. 2270-2285

Christoph Görtz, Wei Li, John Tsoukalas and Francesco Zanetti

Volume 27, month October, 2023

Health risk and the welfare effects of Social Security pp. 1767-1806

Shantanu Bagchi and Juergen Jung

Bankruptcy costs, idiosyncratic risk, and long-run growth pp. 1807-1842

Santiago Acosta-Ormaechea and Atsuyoshi Morozumi

Quantifying spillovers of coordinated investment stimulus in the EU pp. 1843-1865

Philipp Pfeiffer, Janos Varga and in ’t Veld, Jan

Implementing the commitment solution via discretionary policy-making pp. 1866-1892

Volker Hahn

The Financial Accelerator in the Euro Area: New Evidence Using a Mixture VAR Model pp. 1893-1931

Hamza Bennani, Jan Pablo Burgard and Matthias Neuenkirch

Financing the low-carbon transition: the impact of financial frictions on clean investment pp. 1932-1971

Hendrik Schuldt and Kai Lessmann

Financial or non-financial shocks: rivals that play together pp. 1972-1995

Hamed Ghiaie

A Note on Learning, House Prices, and Macro-Financial Linkages pp. 1996-2011

Pauline Gandré

A Note on the Neo-Fisher Effect in the New Keynesian Model pp. 2012-2028

Syed Zahid Ali and Irfan Qureshi

Optimal long-run money growth rate in a cash-in-advance economy with labor-market frictions – CORRIGENDUM pp. 2029-2029

Been-Lon Chen, Shian-Yu Liao, Dongpeng Liu and Xiangbo Liu

Volume 27, month September, 2023

The macroeconomic effects of the tax cuts and jobs act pp. 1495-1527

Filippo Occhino

Coordination frictions and economic growth pp. 1528-1548

Miroslav Gabrovski

Should wages be subsidized in a pandemic? pp. 1549-1580

Brant Abbott and Nam Van Phan

Dynamic inefficiency by promoting relative consumption pp. 1581-1596

Wai Chiu Woo

Aggregate elasticity of substitution between skills: estimates from a macroeconomic approach pp. 1597-1627

Michał Jerzmanowski and Robert Tamura

Okay boomer… Excess money growth, inflation, and population aging pp. 1628-1663

Joseph Kopecky

Drivers of inflation convergence across countries: the role of standard gravity variables pp. 1664-1686

Hakan Yilmazkuday

Presidents, Fed chairs, and the deviations from the Taylor rule pp. 1687-1705

Fang-Shuo Chang, Shiu-Sheng Chen, Tzu-Yu Lin and Po-Yuan Wang

Optimal fiscal policy under capital overaccumulation pp. 1706-1736

YiLi Chien and Yi Wen

Optimal long-run money growth rate in a cash-in-advance economy with labor-market frictions pp. 1737-1766

Been-Lon Chen, Shian-Yu Liao, Dongpeng Liu and Xiangbo Liu

Volume 27, month July, 2023

Difficulties in finding middle-skilled jobs under increased automation pp. 1179-1201

Hideki Nakamura

Implications of present-biased preferences on inheritance taxes pp. 1202-1229

Monisankar Bishnu, Cagri S. Kumru and Arm Nakornthab

Countercyclical capital regulation in a small open economy DSGE model pp. 1230-1267

Matija Lozej, Luca Onorante and Ansgar Rannenberg

Central bank credibility and inflation expectations: a microfounded forecasting approach pp. 1268-1288

João Issler and Ana Flávia Soares

On the effects of taxation on growth: an empirical assessment pp. 1289-1318

Marco Alfò, Lorenzo Carbonari and Giovanni Trovato

Better understanding how uncertainty impacts the economy: Insights from internet search data on the importance of disaggregation pp. 1319-1344

Kalvinder Shields and Trung Duc Tran

Size-dependent financial frictions, capital misallocation, and aggregate productivity pp. 1345-1382

Xiaolu Zhu

The cost-of-living index in a cash and credit goods economy pp. 1383-1396

Toyoichiro Shirota

An unobserved components model of total factor productivity and the relative price of investment pp. 1397-1423

Joshua Chan and Edouard Wemy

Extension of unemployment benefits and changes in job search margins pp. 1424-1454

Omid Mousavi

Financial shocks and the relative dynamics of tangible and intangible investment: Evidence from the euro area pp. 1455-1480

Johannes Gareis and Eric Mayer

A note on infectious disease, economic growth, and related government policy pp. 1481-1494

Chia-Hui Lu

Volume 27, month June, 2023

Automation, productivity, and innovation in information technology pp. 879-905

Unni Pillai

The great lockdown: information, noise, and macroeconomic fluctuations pp. 906-927

Michal Brzoza-Brzezina and Grzegorz Wesołowski

Inflation-linked bonds in incomplete markets with sunspots pp. 928-944

Minwook Kang

Aggregate effects of firing costs with endogenous firm productivity growth pp. 945-965

Borja Petit

Provision of firm-sponsored training to temporary workers and labor market performance pp. 966-997

Makoto Masui

Sectoral employment effects of state fiscal relief: evidence from the Great Recession pp. 998-1018

Christian Bredemeier, Falko Juessen and Roland Winkler

Air quality in welfare accounting pp. 1019-1058

Almut Balleer and Morten Endrikat

Should the government subsidize innovation or automation? pp. 1059-1088

Angus Chu, Guido Cozzi, Yuichi Furukawa and Chih-Hsing Liao

Monetary policy and welfare in a currency union pp. 1089-1114

D’Aguanno, Lucio

A sectoral approach to measuring output gap: Evidence from 20 US Sectors over 1948−2020 pp. 1115-1137

Remzi Baris Tercioglu

Interactive effects between input and output technical inefficiencies pp. 1138-1165

Muna Esheba and Apostolos Serletis

A Note on nonconvex adjustment costs in lumpy investment models: Mean versus variance pp. 1166-1177

Min Fang

Volume 27, month April, 2023

Inequality over the business cycle: the role of distributive shocks pp. 571-600

Marius Clemens, Ulrich Eydam and Maik Heinemann

How diabolic is the sovereign-bank loop? The effects of post-default fiscal policies pp. 601-634

André Diniz and Bernardo Guimaraes

Optimal capital taxation in an economy with innovation-driven growth pp. 635-668

Ping-Ho Chen, Angus Chu, Hsun Chu and Ching-chong Lai

Wealth and Consumption After Job Displacement pp. 669-697

Justin Barnette

Are the Forecasts of Professionals Compatible with the Taylor Rule? Evidence from the Euro Area pp. 698-717

Robert Czudaj

The consequences of US technology changes for productivity in advanced economies pp. 718-742

Steffen Elstner and Svetlana Rujin

Tax evasion and optimal corporate income tax rates in a growing economy pp. 743-769

Takeo Hori, Noritaka Maebayashi and Keiichi Morimoto

Measuring International Uncertainty Using Global Vector Autoregressions with Drifting Parameters pp. 770-793

Michael Pfarrhofer

What Accounts for the German Labor Market Miracle? A Structural VAR Approach pp. 794-825

Mathias Klein and Stefan Schiman

The Stabilizing Effects of Publishing Strategic Central Bank Projections pp. 826-868

Steffen Ahrens, Joep Lustenhouwer and Michele Tettamanzi

A note on contraception, social norms, and growth pp. 869-878

Tiago Cavalcanti, Georgi Kocharkov and Cezar Santos

Volume 27, month March, 2023

Pension Reforms, Population Aging, and Retirement Decision of the Elderly in a Neoclassical Growth Model pp. 275-296

Makoto Hirono and Kazuo Mino

Estimating the FOMC’s interest rate rule with variable selection and partial regime switching pp. 297-330

Adam Check

Government investment fiscal multipliers: evidence from Euro-area countries pp. 331-349

Matteo Deleidi, Francesca Iafrate and Enrico Sergio Levrero

Financial shocks and inflation dynamics pp. 350-378

Angela Abbate, Sandra Eickmeier and Esteban Prieto

Coordination in price setting and the zero lower bound: a global games approach pp. 379-398

Mitsuru Katagiri

Incomplete Exchange Rate Pass-through and International Monetary Policy Cooperation pp. 399-431

Zhigang Huang and Jie Li

Currency substitution as an automatic stabilizer pp. 432-455

Shu-Hua Chen

Lending standards, productivity, and credit crunches pp. 456-481

Jonathan Swarbrick

Transitional dynamics of the saving rate and economic growth pp. 482-505

Markus Brueckner, Tomoo Kikuchi and George Vachadze

Mortgage debt and time-varying monetary policy transmission pp. 506-531

David Finck, Jörg Schmidt and Peter Tillmann

The effect of central bank credibility on forward guidance in an estimated New Keynesian model pp. 532-570

Stephen J. Cole and Enrique Martínez-García

Volume 27, month January, 2023

Sectoral labor mobility and optimal monetary policy pp. 1-26

Alessandro Cantelmo and Giovanni Melina

Firms’ Employment Dynamics and the State of the Labor Market pp. 27-55

Karolina Stadin

Housing choices and their implications for consumption heterogeneity pp. 56-71

Eva de Francisco

The time-varying and volatile macroeconomic effects of immigration pp. 72-92

Huachen Li

The more, the better? Forecasting gains from high-frequency housing prices in a Markov-switching dynamic factor model pp. 93-110

MeiChi Huang

Has international CPI inflation comovement strengthened since the global financial crisis? pp. 111-140

Inseok Shin and Kyu Ho Kang

The economic effects of government spending: using expectations data to control for information pp. 141-170

Matthew Hall and Aditi Thapar

Financial openness, bank capital flows, and the effectiveness of macroprudential policies pp. 171-202

Hao Jin and Chen Xiong

Co-integration with score-driven models: an application to US real GDP growth, US inflation rate, and effective federal funds rate pp. 203-223

Szabolcs Blazsek, Alvaro Escribano and Adrian Licht

Equilibrium dynamics in a model of growth and spatial agglomeration pp. 224-249

Shota Fujishima and Daisuke Oyama

Relative consumption, relative wealth, and long-run growth: when and why is the standard analysis prone to incorrect conclusions? pp. 250-274

Franz X. Hof and Klaus Prettner