Showing papers in "Journal of Macroeconomics in 2013"

TL;DR: In this paper, the authors employ a structural threshold regression methodology to investigate the heterogeneous effects of debt on growth using public debt as a threshold variable as well as several other plausible variables.

TL;DR: In this article, the authors studied the long-run impact of policies aimed at fostering gender equality on economic growth in Brazil, and showed that women's time allocation between market work, child rearing, human capital accumulation, and home production may have a substantial impact on long run economic growth.

TL;DR: In this paper, the authors investigated the relationship between house prices and rental prices, known as the price-rent ratio, which is an important measure of a potential deviation between house price and its fundamental value.

TL;DR: This article examined the relationship between banking marketization and the transmission of monetary policy changes across heterogeneous banks and found that as the degree of banking marketisation increases, China's monetary policy transmission through the bank lending channel weakens, and this works particularly for large, high profitability and high capitalization banks.

TL;DR: The authors examined how financial openness and institutional quality affect international capital inflows, using data of 112 countries from 1985 to 2009, and found that financial openness has a significant impact on international capital flows, their interaction effects are significant.

TL;DR: In this article, a unified approach that combines the filter and statistical approaches, and avoids the limitations of each approach, is proposed to identify a much larger number of plausible breaks in GDP per capita than a pure statistical approach.

TL;DR: In this paper, the authors contribute to trade diversification literature by comparing changes in relative heterogeneity of import and export structures in the process of economic development, focusing on the diversification of imports.

TL;DR: In this paper, the predictive power for future domestic economic activity included in domestic stock prices, using a Granger causality analysis in the frequency domain, was investigated for the G-7 countries.

TL;DR: This paper determined the value of currency misalignments from which they observed a regime shift in economic growth, over the 1980-2009 period, based on panel smooth transition regressions, and showed that the misalignment index plays a key role in the reversal of trend growth.

TL;DR: This article applied meta-regression analysis to the empirical literature that examines the impact of international market integration on capital taxation and found that the meta-analysis fails to confirm a negative effect of globalization on the taxation of capital.

TL;DR: This article analyzed the impact of the immigration influx that took place during the years 2000-2007 in Greece on labor market outcomes and found that skilled native workers, who complement immigrants in production, gain in terms of both wages and employment.

TL;DR: This article analyzed the relationship between the debt-to-GDP ratio and real per capita GDP growth for euro area members and a broader set of industrial countries by distinguishing periods of sustainable and non-sustainable debt.

TL;DR: In this article, the authors investigate the interplay between different institutional qualities and fiscal policy, and their effect on resource-abundant economies' growth through the "quality of fiscal performance" transmission channel.

TL;DR: In this article, the authors focus on the long-term determinants of economic development and demographic transition and identify the causal structure governing the triad of high income, high human development and low fertility rates defined as the developed lifestyle.

TL;DR: In this article, a core sample of 98 countries over the period 1996-2009 was used to investigate the relationship between institutions and R&D intensity, and they found evidence that the effect of institutions varies in different economies characterized by different levels of financial development and human capital accumulation, but stays relatively unchanged across countries with varying levels of trade openness.

TL;DR: The impact of changes in exchange rate on inflation is an issue of extreme importance for nations with a history of high inflation as discussed by the authors, and little analysis has been conducted on smaller economies that are open to trade.

TL;DR: In this article, the authors present evidence that supports the link between an index of IQL (law and order, government stability, investment profile, etc.), and the cyclicality of monetary policy, and the volatilities of output and the nominal interest rate.

TL;DR: In this paper, the authors provided possible explanations for the empirical failure of the Fisher hypothesis in terms of economic shocks by employing the quantile cointegration methodology recently proposed by Xiao (2009).

TL;DR: In this paper, the authors used data from the Consensus economics forecast poll to explore the strategic behavior of private sector forecasters with respect to forecasts published by the IMF and the OECD.

TL;DR: This article developed a political economy model of growth to examine economic development led by the interactions between an economic decision concerning a firm's production technology (CRS vs. IRS technology) and a political decision concerning public infrastructure.

TL;DR: In this paper, the authors analyzed the 1982-2010 period and identified seven periods where the headline price index of personal consumption expenditures (PCEs) move explosively relative to the core PCE.

TL;DR: This paper analyzed the determinants of US monetary policy stance as expressed in speeches by Federal Reserve (Fed) officials over the period January 1998-September 2009, using a probit model with regional and national macroeconomic variables to explain the content of these speeches.

TL;DR: In this paper, the authors compare the convergence process of real exchange rates towards equilibrium for the CFA zone countries and a sample of other sub-Saharan African (SSA) countries.

TL;DR: In this paper, the responses of US house prices to an exogenous credit supply shock and compares them with the effects from variations in credit supply associated with a bank lending channel were assessed.

TL;DR: This paper investigated whether the underreporting of LIBOR rates by some banks significantly affected the reported LIBOR rate by testing whether there was a significant change in the relationship between the Libor rate and another rate that reflects the default risk of banks.

TL;DR: In this paper, the authors analyze whether the restrictions used in the literature are consistent with the data and find no clear-cut evidence in favor of a positive reaction of hours to technology shocks.

TL;DR: In this paper, the authors analyzed the welfare effects of unemployment insurance reforms in a general equilibrium incomplete market model, where consumers face an uninsurable unemployment risk, can save in an interest-bearing asset and are subject to a borrowing constraint.

TL;DR: In this article, the authors consider institutional and structural factors associated with investment activity in a panel of up to 129 developed and developing countries and find that financial development and institutional quality are reasonably robust determinants of cross-country capital formation, with latter displaying more stability in the sign and significance of its coefficient.

TL;DR: In this article, a unified endogenous growth model is proposed to account for China's economic growth since 1980 in a unified growth model in which a sequencing of physical capital accumulation, human capital accumulation and innovation drives the rise in China's aggregate income.