Publications 2023

Publications

2023

Behavioural Macroeconomics and Complexity program

• Lojak B, Makarewicz T and Proaño CR (2023) ‘Low interest rates, bank’s search-for-yield behavior and financial portfolio management’, North American Journal of Economics and Finance, Jan 2023, Volume 64, 101839.

• Proaño CR, Peña JC and Schnellbacher S (2023) ‘How Does Financial Development Affect the Growth-Inequality Nexus? Evidence from a PCHVAR Analysis’, Industrial and Corporate Change, 32(2), 474-501.

• Fierro LE, Giri F and Russo A (2023) ‘Inequality-constrained monetary policy in a financialized economy’, Journal of Economic Behavior & Organization, Volume 216, December 2023, Pages 366-385.

• Krämer HM, Proaño CR and Setterfield M (2023) ‘Capitalism, Inclusive Growth, and Social Protection - Inherent Contradiction or Achievable Vision?’, Edward Elgar Publishing, ISBN: 978 1 78643 3060.

Climate Change and Energy program

• Pinko N, Tonkonogy B, Widge V and Buchner B (2023) ‘An Innovative IFI Operating Model for the 21st Century’, Climate Policy Initiative.

• Klusak P, Agarwala M, Burke M, Kraemer M and Mohaddes K (2023) ‘Rising Temperatures, Falling Ratings: The Effect of Climate Change on Sovereign Creditworthiness’, Management Science, Vol 69, No 12.

COVID-19 and the Macroeconomy program

• Morley J, Palenzuela DR, Sun Y and Wong B (2023) ‘Estimating the euro area output gap using multivariate information and addressing the COVID-19 pandemic’, European Economic Review, Volume 153, April 2023.

• Abeln B and Jacobs J P.A.M (2023) ‘Seasonal Adjustment without Revisions: A Real-Time Approach’, SpringerBriefs in Economics, Springer Cham.

• de Haan J, Jacobs J P.A.M and Zijm R (2023) ‘Coherence of output gaps in the euro area: The impact of the COVID-19 shock’, European Journal of Political Economy, 102369.

• Murphy C (2023), ‘Fiscal Policy in the COVID-19 Era’, Economic Papers (CAMA WP 27/2022).

• McKibbin WJ and Fernando R (2023), ‘The global economic impacts of the COVID-19 pandemic’, Economic Modelling, Volume 129, December 2023, 106551.

Finance and the Macroeconomy program

• Aono K and Okimoto T (2023) ‘When Does the Japan Empowering Women Index Outperform its Parent and the ESG Select Leaders Indexes?’, International Review of Financial Analysis, January 2023, Vol 85, 102428.

• Hartigan L and Wright M (2023) ‘Monitoring Financial Conditions and Downside Risk to Economic Activity in Australia’, Economic Record, 20 Jan 2023, https://doi.org/10.1111/1475-4932.12706.

• Elgin C, Yalaman A and Yasar S (2023) ‘Economic stimulus measures in the pandemic: the role of fiscal decentralisation’, Cambridge Journal of Regions, Economy and Society, 4 Jan 2023, rsac047.

• Clare A, Seaton J, Smith PN and Thomas S (2023) ‘Using the Minimum Acceptable Annual Withdrawal with the Perfect Withdrawal Rate rule’, Journal of Retirement, Volume 10, Issue 3.

• Hasan I, Marra M, Wu E and Zhang G (2023) ‘Creditor-Control Rights and the Nonsynchronicity of Global CDS Markets’, Review of Corporate Finance Studies, in press.

• Hasan I, Marra M, To Y, Wu E, Zhang G (2023) ‘COVID-19 Pandemic and Global Corporate CDS Spreads’, Journal of Banking & Finance, 147.

• Xu C, Jacobs J P.A.M and de Haan J (2023) ‘Does household borrowing reduce the trade balance? Evidence from developing and developed countries’, Open Economies Review.

• Valadkhani A (2023) ‘Performance of Renewable and Non-Renewable Exchange-traded Funds during Heightened Uncertainty?’, Applied Economics, online, 16 June 2023.

• Valadkhani A (2023) ‘Investment Sensitivity to Market Uncertainty in the Travel and Tourism Sector’, Tourism Economics, January 2023.

• Valadkhani A (2023) ‘Analyzing different types of asymmetric responses in terminal gate prices of petrol and diesel across major Australian seaports: implications for fuel price monitoring strategies’, Energy Economics, 122, 106709.

• Valadkhani A (2023) ‘Asymmetric downside risk across different sectors of the US equity market’, Global Finance Journal, 57, 100844.

• Valadkhani A and Moradi A (2023) ‘An empirical analysis of exchange-traded funds in the US?’, Economic Analysis and Policy, 78, 995-1009.

• Valadkhani A(2023) ‘Asymmetric causality between Bitcoin and tech stocks in the US market using mixed frequency data’, Journal of Economic Studies, Accepted 2 July 2023, forthcoming.

• Pontines V, Luvsannyam D, Batmunkh K and Otgonbat T (2023) ‘The Dynamics of Business Cycle Connectedness and the Decoupling of Asia-Pacific’, International Journal of Finance and Economics, 28(2), 2023, pp. 1667-1692.

• Pontines V and Rummel O (2023) ‘LIBOR meets machine learning: A Lasso regression approach to detecting data irregularities’, Finance Research Letters, Vol 55, Part A, July 2023, 103852.

• Goswami M, Pontines V and Mohammed Y (2023) ‘Portfolio capital flows and the US dollar exchange rate: Viewed from the lens of time and frequency dynamics of connectedness’, International Review of Financial Analysis, Vol 89, October 2023, 102754 (CAMA WP 72/2022).

• Meeks R and Monti F (2023) ‘Heterogeneous beliefs and the Phillips curve’, Journal of Monetary Economics, June 2023 (CAMA WP 51-2022).

• Lapid AK, Mercado Jr R, Rosenkranz P (2023) ‘Concentration in Asia’s cross-border banking: Determinants and impacts’, Pacific Economic Review, Vol 28 Issue 2, pp.267-292, May 2023.

• Mercado R (2023) ‘Bilateral capital flows: Gravity, push and pull’, International Finance, Vol 26 Issue 1, pp.36-63, Spring 2023.

• Mercado R (2023) ‘Bilateral capital flows: Transaction patterns and gravity’, International Review of Economics & Finance, Volume 84, pp.39-54, March 2023.

• Arin KP, Mazrekaj D and Thum M (2023) ‘Ability of detecting and willingness to share fake news’, Nature Scientific Reports, 13, Article number: 7298, 5 May 2023.

• Arin KP, Devereux K and Mazur M (2023) ‘Taxes and firm investment’, Journal of Macroeconomics, Volume 76, June 2023, 103517.

• Arin KP, Mazrekaj D and Thum M (2023) ‘Wer Fake News (nicht) erkennt und verbreitet’, ifo Dresden berichtet, 2023, 30, Nr. 3, 14-16.

• Choi S and Shin J (2023) ‘Household indebtedness and the macroeconomic effects of tax changes’, Journal of Economic Behavior and Organization, May 2023, 209: 22-52 (CAMA WP 56/2022).

• Choi S, Ciminelli G, and Furceri D (2023) ‘Is domestic uncertainty a local pull factor driving foreign capital inflows? New cross-country evidence’, Journal of International Money and Finance, February 2023, 130: 102764 (CAMA WP 64/2022).

• Eiji G, Jacobs JPAM, Sinclair TM and van Norden S (2023) ‘Employment Reconciliation and Nowcasting’, Journal of Applied Econometrics, 13 July 2023.

• Tian X, Jacobs JPAM and de Haan J (2023) ‘Alternative Measures for the Global Financial Cycle: Do They Make a Difference?’, International Journal of Finance and Economics, 13 September 2023.

• den Reijer AHJ, Otter PW and Jacobs JPAM (2023) ‘A scree plot criterion for the number of factors’, Statistical Papers, forthcoming.

• Dwyer GP, Gilevska B, Nieto MJ and Samartín M (2023) ‘The effects of the ECB’s unconventional monetary policies from 2011 to 2018 on banking assets’, Journal of International Financial Markets, Institutions and Money, Volume 87, September 2023, 101800, 1-33.

• Eickmeier S and Hofmann B (2023) ‘What drives inflation? Disentangling demand and supply factors’, International Journal of Central Banking, forthcoming (CAMA WP 74/2022).

Growth, Demographics and Productivity program

• Day C (2023) ‘Increasing inequality and voting for basic income: Could gender inequality’ worsen?’ Economic Analysis and Policy, Vol 76, December 2022, pp476-487 (CAMA WP 54/2022).

• Jha R (2023) ‘Macroeconomics for Development: Prognosis and Prospects’, Edward Elgar, January 2023.

• Leigh A (2023) ‘How Uncompetitive Markets Hurt Workers’, Australian Journal of Labour Economics, Vol 26, No 1, 13 June 2023.

• Leigh A (2023) ‘Market Power and Markups: Malign Markers for the Australian Macroeconomy’, Australian Economic Papers, Vol 62, Issue 3, 13 April 2023.

• Leigh A (2023) ‘Data and evaluation: A match made in policy heaven’, Australian Journal of Social Issues, 2 November 2023.

• Ana Tanasoca and Leigh A (2023) ‘The Democratic Virtues of Randomized Trials’, Moral Philosophy and Politics, Vol 11, Issue 1, 17 February 2023.

• Watanabe A and Yakita A (2023) ‘Effects of monetary transactions costs on economic growth’, Research in Economics, 77(2), 2023, 221-225.

• Yakita A and Zhang D (2023) ‘Environmental policies with variable pollution intensity in a differentiated oligopoly’, Environmental Economics and Policy Studies, 25(2), 2023, 269-283.

• Yakita A (2023) ‘Elderly long-term care policy and sandwich caregivers’ time allocation between child-rearing and market labor’, Japan and the World Economy, 65, 2023, 101175.

• Bhattacharya J, Bishnu M and Wang M (2023) ‘Credit Markets with Time-Inconsistent Agents and Strategic Loan Default’, Journal of Money, Credit and Banking, 21 February 2023.

• Bishnu M, Garg S, Garg T and Ray T (2023) ‘Intergenerational Transfers: Public Education and Pensions with Endogenous Fertility’, Journal of Economic Dynamics and Control, online 104697, 28 June 2023.

• Yew SL, Li SM and Moslehi S (2023) ‘Optimal parental leave subsidization with endogenous fertility and growth’, Economic Inquiry, 6 July 2023.

• Dzhumashev R, R Levaggi and F Menoncin (2023) ‘Optimal tax enforcement with productive public inputs’, Economic Modelling, Volume 126, September 2023, 106444.

• Dzhumashev R (2023) ‘The role of physical constraints on production’, Ecological Economics, Volume 216, February 2024, 108020.

• Poonpolkul P (2023) ‘Age-dependent risk aversion: Re-evaluating fiscal policy impacts of population aging’, The Journal of the Economics of Ageing, Volume 26, October 2023, 100474.

Macroeconomic Policy Frameworks program

• Das KK, Donald LJ and Guender AV (2023) ‘Debt finance and economic activity in the euro-area: evidence on asymmetric and maturity effects’, International Review of Economics & Finance, Volume 85, May 2023, Pages 448-472.

• Kumar S, Gorodnichenko Y and Coibion O (2023) ‘The Effect of Macroeconomic Uncertainty on Firm Decisions’, Econometrica, forthcoming.

• Kiss HJ, Libich J and Nguyen D (2023) ‘Running Out of Bank Runs’, the Journal of Financial Services Research, forthcoming.

• Hodula M and Libich J (2023) ‘Has Monetary Policy Fueled the Rise in Shadow Banking?’, Economic Modelling, forthcoming.

• Hall VB (2023) ‘Citation for Bob Buckle to mark his Distinguished Fellow Award’, New Zealand Economic Papers, 26 July 2023, DOI:10.1080/00779954.2023.2234266.

Macroeconomic Theory program

• Dominguez B and Gomis-Porqueras P (2023) ‘Normalizing the Central Bank’s Balance Sheet: Implications for Implications and Debt Dynamics’, Journal of Money, Credit and Banking, 23 June 2022 (CAMA WP 39/2022).

• İmrohoroğlu A, Kumru CS, Lian J, Nakornthab A (2024) ‘Revisiting taxes on high incomes’, Review of Economic Dynamics, V51, December 2023, Pages 1159-1184.

• Haque Q and Magnusson LM (2023) ‘Identification Robust Empirical Evidence on the Open Economy IS‐Curve’, Oxford Bulletin of Economics and Statistics, 85, 2 (2023): 345-372.

• Doko Tchatoka F and Haque Q (2023), ‘On Bootstrapping Tests of Equal Forecast Accuracy for Nested Models’, Journal of Forecasting, Volume 42, Issue 7, November 2023, pages 1844-1864 (CAMA WP 27/2020).

Micro-Heterogeneity and Macroeconomic Performance program

• Akhtaruzzaman A (2023) ‘Does Institutional Quality Matter to Korean Outward FDI? A Gravity Model Analysis’, World Economy Brief, January 2023, Vol. 12 No. 47.

Model Uncertainty and Macro-Econometrics program

• Eo Y, Uzeda L and Wong B (2023) ‘Understanding Trend Inflation Through the Lens of the Goods and Services Sectors’, Journal of Applied Econometrics, 5 April 2023 (CAMA WP 28/2022).

• Morley J, Tran TD and Wong B (2023) ‘A Simple Correction for Misspecification in Trend-Cycle Decompositions with an Application to Estimating r*’, Journal of Business & Economic Statistics, online 2221974, 7 July 2023 (CAMA WP 2/2022).

• Bhattacharya PS, Chowdhury PR and Rahman H (2023) ‘Does credit availability mitigate domestic conflict?’, Economic Modelling, 10 February 2023.

• Nason JM, and Smith GW (2023) ‘UK Inflation Dynamics since the Thirteenth Century’, International Economic Review, 30 May 2023 (CAMA WP 32/2021).

Multi-Country Models and Methods program

• Standardi G (2023) ‘Exploring market-driven adaptation to climate change in a general equilibrium global trade model’, Mitigation and Adaptation Strategies for Global Change, 28, 11 (2023).

• Tyers R and Zhou Y (2023) ‘Automation and inequality with taxes and transfers’, Scottish Journal of Political Economy, 70(1): 68-100, February 2023.