Macroeconomic Dynamics

1997 - 2025

From Cambridge University Press
Cambridge University Press, UPH, Shaftesbury Road, Cambridge CB2 8BS UK.
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Volume 25, month December, 2021

AN N-STATE ENDOGENOUS MARKOV-SWITCHING MODEL WITH APPLICATIONS IN MACROECONOMICS AND FINANCE pp. 1937-1965

Shih-Tang Hwu, Chang-Jin Kim and Jeremy Piger

IDENTIFYING TECHNOLOGY SHOCKS AT THE BUSINESS CYCLE VIA SPECTRAL VARIANCE DECOMPOSITIONS pp. 1966-1992

Yuliya Lovcha and Alejandro Perez-Laborda

MACROECONOMIC CONSEQUENCES OF THE DEMOGRAPHIC AND EDUCATIONAL CHANGES IN POLAND AFTER 1990 pp. 1993-2036

Aleksandra Kolasa

THE ROLE OF MONEY IN FEDERAL RESERVE POLICY pp. 2037-2057

Irfan Qureshi

THE LIKELIHOOD OF EFFECTIVE LOWER BOUND EVENTS pp. 2058-2079

Michal Franta

ON PHASE SHIFTS IN A NEW KEYNESIAN MODEL ECONOMY pp. 2080-2101

Xue Li and Joseph Haslag

REGRESSIVE WELFARE EFFECTS OF HOUSING BUBBLES pp. 2102-2127

Andrew Graczyk and Toan Phan

POLITICAL CONFLICT AND BARGAINING IN A NEW KEYNESIAN MODEL OF FISCAL STABILIZATION pp. 2128-2179

Francesca Flamini and Campbell Leith

PRICE FLEXIBILITY AND OUTPUT VOLATILITY UNDER MENU COSTS pp. 2180-2203

Nam Vu

HOPF BIFURCATION FROM NEW-KEYNESIAN TAYLOR RULE TO RAMSEY OPTIMAL POLICY pp. 2204-2236

Jean-Bernard Chatelain and Kirsten Ralf

Volume 25, month October, 2021

AN ESTIMATED DSGE MODEL WITH LEARNING BASED ON TERM STRUCTURE INFORMATION pp. 1635-1665

Pablo Aguilar and Jesús Vázquez

FISCAL ADJUSTMENTS AND THE SHADOW ECONOMY IN AN EMERGING MARKET pp. 1666-1700

Celso Costa Junior, Alejandro C. Garcia-Cintado and Carlos Usabiaga

REAL WAGE RIGIDITY, HETEROGENEITY, AND THE BUSINESS CYCLES pp. 1701-1725

Eunseong Ma

OPTIMAL MONETARY AND FISCAL POLICY IN A CURRENCY UNION WITH FRICTIONAL GOODS MARKETS pp. 1726-1754

Pedro Gomis-Porqueras and Cathy Zhang

COMPLEX DYNAMICS IN LUCAS’ TREE ASSET PRICING MODEL WITH DYNAMIC SELF-CONTROL PREFERENCES pp. 1755-1778

Marco Airaudo

RISK SHOCKS, RISK MANAGEMENT, AND INVESTMENT pp. 1779-1809

Jonathan Goldberg

THE CONDITIONAL INS AND OUTS OF FRENCH UNEMPLOYMENT pp. 1810-1841

Idriss Fontaine

INTEREST RATES, MONEY, AND ECONOMIC ACTIVITY pp. 1842-1891

Cosmas Dery and Apostolos Serletis

INVESTING IN PUBLIC INFRASTRUCTURE: ROADS OR SCHOOLS? pp. 1892-1921

Manoj Atolia, Bin Grace Li, Ricardo Marto and Giovanni Melina

A NOTE ON THE SECTORAL COMPOSITION OF GOVERNMENT SPENDING, PROGRESSIVE TAXATION AND AGGREGATE (IN)STABILITY pp. 1922-1936

Dou Jiang

Volume 25, month September, 2021

A UNIFIED FRAMEWORK FOR OPTIMAL TAXATION WITH UNDIVERSIFIABLE RISK pp. 1331-1345

Vasia Panousi and Catarina Reis

SOVEREIGN DEFAULT, TRADE, AND TERMS OF TRADE pp. 1346-1380

Grace Weishi Gu

A FREQUENCY-DOMAIN APPROACH TO DYNAMIC MACROECONOMIC MODELS pp. 1381-1411

Fei Tan

CONSUMPTION, LEISURE, AND MONEY pp. 1412-1441

Apostolos Serletis and Libo Xu

IDENTIFYING NEWS SHOCKS WITH FORECAST DATA pp. 1442-1471

Yasuo Hirose and Takushi Kurozumi

DEATH AND CAPITAL pp. 1472-1494

Shankha Chakraborty and Mausumi Das

INVESTIGATING THE ROLE OF MONEY IN THE IDENTIFICATION OF MONETARY POLICY BEHAVIOR: A BAYESIAN DSGE PERSPECTIVE pp. 1495-1537

Bing Li, Qing Liu and Pei Pei

HETEROGENEOUS EXPECTATIONS AND ASSET PRICE DYNAMICS pp. 1538-1568

Noemi Schmitt

NEW INSIGHTS FROM THE CANONICAL RAMSEY–CASS–KOOPMANS GROWTH MODEL pp. 1569-1577

Eric Nævdal

LIQUIDITY EXTERNALITIES AND THE WALLACE CONJECTURE pp. 1578-1588

Nicola Amendola, Leo Ferraris and Fabrizio Mattesini

TECHNOLOGICAL ABSORPTIVE CAPACITY AND DEVELOPMENT STAGE: DISENTANGLING BARRIERS TO RICHES pp. 1589-1624

Rodrigo Fuentes and Verónica Mies

A NOTE ON MONOTONE COMPARATIVE STATICS FOR MONETARY DIRECTED SEARCH MODELS pp. 1625-1634

Michael Choi

Volume 25, month July, 2021

INTRODUCTION TO THE MACROECONOMIC DYNAMICS SPECIAL ISSUE ON: GROWTH IN THE AFTERMATH OF THE FINANCIAL CRISIS: THEORIES, POLICIES, AND SOURCES OF SUSTAINABLE DEVELOPMENT pp. 1145-1154

Alberto Bucci and Guido Cozzi

A PARSIMONIOUS MODEL OF LONGEVITY, FERTILITY, HIV TRANSMISSION AND DEVELOPMENT pp. 1155-1174

Luca Gori, Piero Manfredi and Mauro Sodini

INNOVATION, GROWTH, AND OPTIMAL MONETARY POLICY pp. 1175-1198

Barbara Annicchiarico and Alessandra Pelloni

INFLATION AND GROWTH: A NON-MONOTONIC RELATIONSHIP IN AN INNOVATION-DRIVEN ECONOMY pp. 1199-1226

Zhijie Zheng, Chien-Yu Huang and Yibai Yang

MACRO- AND MICROPRUDENTIAL POLICIES: SWEET AND LOWDOWN IN A CREDIT NETWORK AGENT-BASED MODEL pp. 1227-1246

Ermanno Catullo, Federico Giri and Mauro Gallegati

R&D POLICY IN THE ECONOMY WITH STRUCTURAL CHANGE AND HETEROGENEOUS SPILLOVERS pp. 1247-1266

Anton Bondarev

SECULAR STAGNATION, R&D, PUBLIC INVESTMENT, AND MONETARY POLICY: A GLOBAL-MODEL PERSPECTIVE pp. 1267-1287

Pietro Cova, Alessandro Notarpietro, Patrizio Pagano and Massimiliano Pisani

DYNAMICS OF A SIMPLE ENDOGENOUS GROWTH MODEL WITH FINANCIAL INTERMEDIATION pp. 1288-1302

Dominika Byrska, Adam Krawiec and Marek Szydłowski

VARIETY, COMPETITION, AND POPULATION IN ECONOMIC GROWTH: THEORY AND EMPIRICS pp. 1303-1330

Alberto Bucci, Lorenzo Carbonari and Giovanni Trovato

Volume 25, month June, 2021

UNANCHORED EXPECTATIONS: SELF-REINFORCING LIQUIDITY TRAPS AND MULTIPLE STEADY STATES pp. 845-873

Joep Lustenhouwer

SUSTAINABILITY OF PUBLIC DEBT AND INEQUALITY IN A GENERAL EQUILIBRIUM MODEL pp. 874-895

Noritaka Maebayashi and Kunihiko Konishi

IN THE NAME OF THE FATHER: INHERITANCE SYSTEMS AND THE DYNAMICS OF STATE CAPACITY pp. 896-923

Èric Roca Fernández

MACROECONOMIC STABILIZATION AND LONG-TERM GROWTH: THE ROLE OF POLICY DESIGN pp. 924-969

Philipp Harting

FISCAL MULTIPLIERS AT THE ZERO LOWER BOUND: THE ROLE OF GOVERNMENT SPENDING PERSISTENCE pp. 970-997

Phuong V. Ngo

ARBITRAGE BETWEEN CONSUMPTION AND SAVING FOR BEQUEST: THE ROLE OF SUBJECTIVE EXPECTED SURVIVAL AND SATISFACTION WITH THE QUALITY OF LIFE, SOUTH KOREA 2008–2014 pp. 998-1019

Noël Bonneuil and Younga Kim

TECHNOLOGY SHOCKS AND HOURS WORKED: A CROSS-COUNTRY ANALYSIS pp. 1020-1052

Jacqueline Thomet and Philipp Wegmueller

THE GREAT TRADE COLLAPSE: AN EVALUATION OF COMPETING STORIES pp. 1053-1089

Hakan Yilmazkuday

DOES CALVO MEET ROTEMBERG AT THE ZERO LOWER BOUND? pp. 1090-1111

Jianjun Miao and Phuong V. Ngo

A NOTE ON PROGRESSIVE TAXATION, NOMINAL-WAGE RIGIDITY, AND BUSINESS CYCLE DESTABILIZATION pp. 1112-1125

Miroslav Gabrovski and Jang-Ting Guo

A NOTE ON MEASURING US TIME SERIES VOLATILITY DURING THE GREAT MODERATION pp. 1126-1143

Isaiah Hull

Volume 25, month April, 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, month March, 2021

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

Giovanni 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 Ka 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, month January, 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