Looking forward to reading this book: Floating Exchange Rates at Fifty, edited by Douglas Irwin and Maurice Obstfeld.
Many contributions that look very interesting:
https://www.piie.com/bookstore/2024/floating-exchange-rates-fifty
Great, a new dataset on sectoral credit exposures!
And interesting findings: „corporate debt plays a key role in explaining boom-bust cycles“
By Victoria Ivashina, Sebnem Kalemli-Ozcan Luc Laeven Karsten Müller
https://www.nber.org/papers/w32225
„Macroeconomic implications of a transition to net zero emissions“ published by the Peterson Institute for International Economics.
“In 2022, the World Bank Group launched a new core diagnostic tool: the Country Climate and Development Report (CCDR). Published for 42 economies so far, CCDRs use resilient and low-emission development scenarios to identify synergies and tradeoffs between development and climate objectives. This paper focuses on the modeling challenges associated with the analysis of the macroeconomic consequences of these development pathways, including those related to the nonmarginal nature of the required transformation, the role of technologies, and the replacement of fossil fuel-based assets with greener ones.”
Myopic Behaviour in Macroeconomic Models: Empirical Evidence from the US:
„We investigate the empirical implications of myopic behaviour within an estimated medium-scale macroeconomic DSGE model. Our analysis provides a comprehensive and agnostic examination of the macroeconomic outcomes when households’ and firms’ beliefs deviate from rational expectations“
by Stefan Hohberger Adrian Ifrim Beatrice Pataracchia Marco Ratto:
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4717916
According to this interesting article, the Fed’s discount window has two problems:
-A decades-old stigma discourages banks from using it
-The tool is old-fashioned, and can require calls and meetings to use
This is interesting. What forecasting models does the European Central Bank use? What is the modelling agenda for the future?
In this paper, you will find the answers:
„This paper takes stock of the ECB’s macroeconometric modelling strategy by focusing on the models and applications used in the Forecasting and Policy Modelling Division. We focus on the guiding principles underpinning the current portfolio of the main macroeconomic models and illustrate how they can in principle be used for economic forecasting, scenario and risk analyses. We also discuss the modelling agenda which is currently under development, focusing notably on heterogeneity, machine learning, expectation formation and climate change.“
Edited by Matteo Ciccarelli Matthieu Darracq Pariès Romanos Priftis European Central Bank:
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