Finance and the Macroeconomy | Crawford School of Public Policy

Tradeoffs over Rate Cycles: Activity, Inflation and the Price Level

Vol: 30/2025 Authors: Forbes K; Ha J; Kose MA Year: 2025 Month: May

Finance and the Macroeconomy
COVID-19 and the Macroeconomy

Re-visiting the Relationship Between Oil Prices and Monetary Policy

Vol: 19/2025 Authors: Bjørnland HC; Cross JL; Hölz J Year: 2025 Month: April

Finance and the Macroeconomy

The Macroeconomic Fragility of Critical Mineral Markets

Vol: 21/2025 Authors: Kang W; Smyth R; Vespignani J Year: 2025 Month: April

Finance and the Macroeconomy

10 February 2025

Piecing the Puzzle: Real Exchange Rates and Long-Run Fundamentals

Vol: 10/2025 Authors: Bjørnland HC; Brubakk L; Maffei-Faccioli N Year: 2025 Month: February

Finance and the Macroeconomy

Climate Hazards and the Health-Remittance Trade-off: Experimental Evidence from Rural Bangladesh

Vol: 26/2025 Author: Hassan GM Year: 2025 Month: May

Finance and the Macroeconomy
Climate Change and Energy

31 December 2022

Emotion in Euro Area Monetary Policy Communication and Bond Yields: The Draghi Era

Vol: 75/2022 Authors: Kanelis D; Siklos PL Year: 2022 Month: December

Finance and the Macroeconomy

22 January 2024

Dynamic Effects of Weather Shocks on Production in European Economies

Vol: 07/2024 Authors : Daniele Colombo, Laurent Ferrara Year: 2024 Month: January

Finance and the Macroeconomy

Macroeconomic and Financial Effects of Natural Disasters

Vol: 23/2024 Authors: Sandra Eickmeier, Josefine Quast, Yves Schüler Month: March Year: 2024

Finance and the Macroeconomy

02 November 2024

Resolving Puzzles of Monetary Policy Transmission in Emerging Markets

Vol: 67/2024 Authors: Ha J, Kim D, Kose MA, Prasad ES Year: 2024 Month: November

Finance and the Macroeconomy

09 January 2025

Asymmetric Mortgage Channel of Monetary Policy: Refinancing as a Call Option

Vol: 02/2025 Author names: Choi S; Jeong K; Kim J Year: 2025 Month: January

Macroeconomic Policy Frameworks program
Finance and the Macroeconomy

The Financial Instability – Monetary Policy Nexus: Evidence from the FOMC Minutes

Vol: 25/2025 Authors: Kanelis D; Kranzmann LH; Siklos PL Year: 2025 Month: April

Finance and the Macroeconomy

Capital Market Liberalization and Equity Market Interdependence

Vol: 55/2020 Authors: Renée Fry-McKibbin, Ziyu Yan Month: June Year: 2020

Finance and the Macroeconomy

03 December 2024

Ensuring the Security of the Clean Energy Transition: Examining the Impact of Geopolitical Risk on the Price of Critical Minerals

Vol: 69/2024 Authors: Saadaoui J; Smyth R; Vespignani J Year: 2024 Month: December

Finance and the Macroeconomy

Oil and the Stock Market Revisited: A Mixed Functional VAR Approach

Vol: 18/2023 Authors: Hilde C. Bjørnland, Yoosoon Chang, Jamie L. Cross Month: March Year: 2023

Finance and the Macroeconomy

20 January 2024

Firm Level Expectations and Macroeconomic Conditions: Underpinnings and Disagreement

Vol: 05/2024 Authors: Monique Reid, Pierre Siklos Month: January Year: 2024

Finance and the Macroeconomy

Armageddon and the Stock Market: US, Canadian and Mexican Market Responses to the 1962 Cuban Missile Crisis

Vol: 65/2020 Authors: Richard K Burdekin, Pierre L Siklos Month: July Year: 2020 Edition: Original Version

Finance and the Macroeconomy

Detecting Statistically Significant Changes in Connectedness: A Bootstrap-Based Technique

Vol: 51/2024 Author: Matthew Greenwood-Nimmo, Evžen Kočenda, Viet Hoang Nguyen Year: 2024 Month: August

Finance and the Macroeconomy

Toward a Holistic Approach to Central Bank Trust

Vol: 31/2024 Authors: Sandra Eickmeier, Luba Petersen Month: May Year: 2024

Finance and the Macroeconomy

Artificial Intelligence Investments Reduce Risks to Critical Mineral Supply

Vol: 30/2024 Authors: Joaquin Vespignani, Russell Smyth Month: May Year: 2024

Finance and the Macroeconomy

12 December 2024

Education Quality and Economic Growth: A New International Measure of Quality of Education

72/2024 Authors: Musibau HO; Vespignani J; Yanotti MB Year: 2024 Month: December

Finance and the Macroeconomy

Resource Dependence, Commodity Shocks and the Role of the Exchange Rate: An Empirical Study of Papua New Guinea

Vol: 50/2022 Author: Rubayat Chowdhury Month: August Year: 2022

Finance and the Macroeconomy

18 January 2024

Speeches in the Green: The Political Discourse of Green Central Banking

Vol: 03/2024 Authors: Martin Feldkircher, Viktoriya Teliha Month: January Year: 2024

Finance and the Macroeconomy

Rate Cycles

Vol: 54/2024 Author name: Kristin Forbes, Jongrim Ha, M. Ayhan Kose Year: 2024 Month: August

Finance and the Macroeconomy

28 October 2024

The ECB’s Climate Activities and Public Trust

Vol: 62/2024 Authors: Sandra Eickmeier, Luba Petersen Month: October Year: 2024

Finance and the Macroeconomy

18 October 2023

The Drivers of Emission Reductions in the European Carbon Market

Vol: 53/2023 Authors: Hilde C. Bjørnland, Jamie L. Cross, Felix Kapfhammer Month: October Year: 2023

Finance and the Macroeconomy

31 December 2023

What Explains Global Inflation

Vol: 66/2023 Authors: Jongrim Ha, M. Ayhan Kose, Franziska Ohnsorge, Hakan Yilmazkuday Month: December Year: 2023

Finance and the Macroeconomy

28 December 2023

The Influence of Fiscal and Monetary Policies on the Shape of the Yield Curve

Vol: 65/2023 Authors: Yoosoon Chang, Fabio Gomez-Rodriguez, Christian Matthes Month: December Year: 2023

Finance and the Macroeconomy
Macroeconomic Policy Frameworks

Cacophony in Central Banking? Evidence from Euro Area Speeches on Monetary Policy

Vol: 49/2022 Authors: Martin Feldkircher, Paul Hofmarcher, Pierre L. Siklos Month: August Year: 2022

Finance and the Macroeconomy
Macroeconomic Policy Frameworks

18 December 2024

Environmental Performance and Economic Growth in the West African Economies

75/2024 Author names: Musibau HO; Yanotti MB; Vespignani J; Nepal R Year: 2024 Month: December

Finance and the Macroeconomy

19 December 2024

Real Effects of Bank Shocks

76/2024 Author name: Sharma V Year: 2024 Month: December

Finance and the Macroeconomy

Business Cycle and Health Dynamics during the COVID-19 Pandemic: A Scandinavian Perspective

Vol: 19/2024 Authors: Hilde C. Bjørnland, Malin C. Jensen, Leif Anders Thorsrud Month: March Year: 2024

Finance and the Macroeconomy
COVID-19 and the Macroeconomy

17 November 2020

Optimal Simple Objectives for Monetary Policy When Banks Matter

Vol: 98/2020 Authors: Lien Laureys, Roland Meeks, Boromeus Wanengkirtyo Month: November Year: 2020

Finance and the Macroeconomy

Inflation Expectations and the Pass-Through of Oil Prices

Vol: 64/2020 Authors: Knut Are Aastveit, Hilde C. Bjørnland, Jamie L. Cross Month: July Year: 2020

Finance and the Macroeconomy

Multi-Sector Bond Funds: New Evidence on Global and Domestic Drivers and Effectiveness of Capital Account Measures

Vol: 28/2024 Authors: Rogelio Mercado Jr., Luca Sanfilippo Month: May Year: 2024

Finance and the Macroeconomy

Global Stagflation

Vol: 41/2022 Authors: Jongrim Ha, M. Ayhan Kose, Franziska Ohnsorge Month: June Year: 2022

Finance and the Macroeconomy

17 December 2024

Fiscal Impacts of Climate Anomalies

74/2024 Authors: Pintus FJ; Jacobs JPAM; Sterken E Year: 2024 Month: December

Finance and the Macroeconomy

30 December 2022

What drives inflation? Disentangling Demand and Supply Factors

Vol: 74/2022 Authors: Sandra Eickmeier, Boris Hofmann Month: December Year: 2022

Finance and the Macroeconomy

Potential Growth: A Global Database

Vol: 20/2023 Authors: Sinem Kilic Celik, M. Ayhan Kose, Franziska Ohnsorge, F. Ulrich Ruch Month: April Year: 2023

Finance and the Macroeconomy

Inflation Dynamics: Expectations, Structural Breaks and Global Factors

Vol: 53/2020 Author: Pierre L. Siklos Month: May Year: 2020

Finance and the Macroeconomy

Armageddon and the Stock Market: US, Canadian and Mexican Market Responses to the 1962 Cuban Missile Crisis

Vol: 32/2022 Authors: Richard C K Burdekin, Pierre L Siklos Month: April Year: 2022 Edition: Revised Version

Finance and the Macroeconomy

Potential Growth Prospects: Risks, Rewards and Policies

Vol: 19/2023 Authors: Sinem Kilic Celik, M. Ayhan Kose, Franziska Ohnsorge Month: April Year: 2023

Finance and the Macroeconomy

20 October 2023

Shocks to the Lending Standards and the Macroeconomy

Vol: 55/2023 Authors: Vivek Sharma Month: October Year: 2023

Finance and the Macroeconomy

15 December 2020

Redistribution and the Monetary–Fiscal Policy Mix

Vol: 107/2020 Authors: Saroj Bhattarai, Jae Won Lee, Choongryul Yang Month: December Year: 2020

COVID-19 and the Macroeconomy
Finance and the Macroeconomy

22 September 2020

Commodity Price Volatility, Fiscal Balance and Real Interest Rate

Vol: 79/2020 Authors: Monoj Kumar Majumder, Mala Raghavan, Joaquin Vespignani Month: September Year: 2020

Finance and the Macroeconomy

Covid-19 Infections and the Performance of the Stock Market: An Empirical Analysis for Australia

Vol: 56/2020 Authors: Markus Brueckner, Joaquin Vespignani Month: June Year: 2020

COVID-19 and the Macroeconomy
Finance and the Macroeconomy

30 January 2023

US Dollar Dominance in Asia’s Trade Invoicing

Vol: 05/2023 Authors: Rogelio Mercado, Jr., Ryan Jacildo, Sanchita Basu Das Month: January Year: 2023

Finance and the Macroeconomy

International Effects of Euro Area Forward Guidance

Vol: 54/2020 Authors: Maximilian Bock, Martin Feldkircher, Pierre L. Siklos Month: May Year: 2020

Finance and the Macroeconomy

Non-Gravity Trade

Vol: 52/2020 Authors: Markus Brueckner, Ngo Van Long, Joaquin Vespignani Month: May Year: 2020

Finance and the Macroeconomy

Reassessing the Dependence Between Economic Growth and Financial Conditions Since 1973

Vol: 30/2022 Authors: Tony Chernis, Patrick J. Coe, Shaun P. Vahey Month: April Year: 2022

Finance and the Macroeconomy
COVID-19 and the Macroeconomy

31 October 2023

One Monetary Policy and Two Bank Lending Standards: A Tale of Two Europes

Vol: 56/2023 Authors: Sangyup Choi, Kimoon Jeong, Jiseob Kim Month: October Year: 2023

Finance and the Macroeconomy
Macroeconomic Policy Frameworks

22 December 2020

Commodity Price Volatility, External Debt and Exchange Rate Regimes

Vol: 110/2020 Authors: Monoj Kumar Majumder, Mala Raghavan, Joaquin Vespignani Month: December Year: 2020

Finance and the Macroeconomy

29 September 2020

De Jure Benchmark Bonds

Vol: 84/2020 Authors: Eli Remolona, James Yetman Month: September Year: 2020

Finance and the Macroeconomy
Macroeconomic Policy Frameworks

Regulation of Petrol and Diesel Prices and their Effects on GDP Growth: Evidence from China

Vol: 17/2023 Authors: Markus Brueckner, Haidi Hong, Joaquin Vespignani Month: March Year: 2023

Finance and the Macroeconomy

21 October 2022

Is Domestic Uncertainty a Local Pull Factor Driving Foreign Capital Inflows? New Cross-Country Evidence

Vol: 64/2022 Authors: Sangyup Choi, Gabriele Ciminelli, Davide Furceri Month: October Year: 2022

Finance and the Macroeconomy
Open Economy Macroeconomics

28 February 2023

Oil Prices Uncertainty, Endogenous Regime Switching, and Inflation Anchoring

Vol: 14/2023 Authors: Yoosoon Chang, Ana María Herrera, Elena Pesavento Month: February Year: 2023

Model Uncertainty and Macro-Econometrics
Finance and the Macroeconomy

Financial Conditions and Zombie Companies: International Evidence

Vol: 22/2022 Author: Joel Bowman Month: March Year: 2022

Finance and the Macroeconomy

16 November 2020

High-Frequency Monitoring of Growth-at-Risk

Vol: 97/2020 Authors: Laurent Ferrara, Matteo Mogliani, Jean-Guillaume Sahuc Month: November Year: 2020

Finance and the Macroeconomy
COVID-19 and the Macroeconomy

Measuring Exchange Rate Risks During Periods of Uncertainty

Vol: 60/2020 Authors: Laurent Ferrara, Joseph Yapi Month: June Year: 2020

Finance and the Macroeconomy
COVID-19 and the Macroeconomy

The Great Reversal

Vol: 27/2024 Authors: Tommy Chrimes, Bram Gootjes, M. Ayhan Kose, Collette Wheeler Month: May Year: 2024

Finance and the Macroeconomy

03 February 2022

Understanding Consumer Inflation Expectations During the COVID-19 Pandemic

Vol: 11/2022 Authors: Gunda Alexandra Detmers, Sui-Jade Ho, Özer Karagedikl Month: February Year: 2022

Finance and the Macroeconomy
COVID-19 and the Macroeconomy

COVID-19, Mobility Restriction Policies and Stock Market Volatility: A Cross-Country Empirical Study

Vol: 40/2023 Authors: Richard Mawulawoea Ahadzie, Dan Daugaard, Moses Kangogo, Faisal Khan, Joaquin Vespignani Month: August Year: 2023

Finance and the Macroeconomy
COVID-19 and the Macroeconomy

Wealth and Income Inequality in the Long Run

Vol: 37/2022 Authors: Philipp Lieberknecht, Philip Vermeulen Month: May Year: 2022

Finance and the Macroeconomy

23 November 2023

External Commodity Shocks and the Insulating Role of Fiscal Policy on Real Output: Evidence from a Commodity-Exporting Economy

Vol: 57/2023 Authors: Victor Pontines, Davaajargal Luvsannyam Month: November Year: 2023

Finance and the Macroeconomy

The Repercussions of War Risks

Vol: 48/2022 Authors: Eric Tong Month: August Year: 2022

Finance and the Macroeconomy

17 January 2022

Stock Returns Predictability with Unstable Predictors

Vol: 04/2022 Authors: Fabio Calonaci, George Kapetanios, Simon Price Month: January Year: 2022

Finance and the Macroeconomy
Model Uncertainty and Macro-Econometrics

24 November 2022

The Price Responsiveness of Shale Producers: Evidence from Micro Data

Vol: 70/2022 Authors: Knut Are Aastveit, Hilde C. Bjørnland, Thomas S. Gundersen Month: November Year: 2022

Finance and the Macroeconomy

Effect of remittances on the macroeconomy: A Structural VAR study of Nepal

Vol: 43/2022 Authors: Sudyumna Dahal Month: July Year: 2022

Finance and the Macroeconomy

14 February 2024

The ECB Press Conference Statement Deriving a New Sentiment Indicator for the Euro Area

Vol: 10/2024 Authors: Dimitrios Kanelis, Pierre L. Siklos Month: January Year: 2024

Finance and the Macroeconomy

Investor Sentiment, Volatility and Cross-Market Illiquidity Dynamics: A Threshold Vector Autoregression Approach

Vol: 24/2022 Author: Lin Qi Month: March Year: 2022

Finance and the Macroeconomy

09 December 2020

Surety Bonds and Moral Hazard in Banking

Vol: 104/2020 Authors: Gerald P. Dwyer, Augusto Hasman, Margarita Samartín Month: December Year: 2020

Finance and the Macroeconomy

Consequences of Zombie Businesses: Australia’s Experience

Vol: 23/2022 Author: Joel Bowman Month: March Year: 2022

Finance and the Macroeconomy

27 February 2023

Global Money Supply and Energy and Non-Energy Commodity Prices: A MS-TV-VAR Approach

Vol: 13/2023 Authors: Stefano Grassi, Francesco Ravazzolo, Joaquin Vespignani, Giorgio Vocalelli Month: February Year: 2023

Finance and the Macroeconomy

28 September 2022

Building the Education Revolution: The Employment Effects of Fiscal Stimulus in Australia

Vol: 58/2022 Authors: Timothy Watson, Juha Tervala Month: September Year: 2022

Finance and the Macroeconomy

11 October 2023

Collateral Shocks, Lending Relationships and Economic Dynamics

Vol: 49/2023 Authors: Vivek Sharma Month: October Year: 2023

Finance and the Macroeconomy

09 October 2023

Estimating and Applying Autoregression Models via Their Eigensystem Representation

Vol: 47/2023 Authors: Leo Krippner Month: October Year: 2023

Finance and the Macroeconomy

31 January 2023

The Currency Composition of Asia’s International Investments

Vol: 06/2023 Authors: Paulo Rodelio Halili, Rogelio Mercado, Jr. Month: January Year: 2023

Finance and the Macroeconomy

25 September 2023

Sustainability and Credit Spreads in Japan

Vol: 44/2023 Authors: Tatsuyoshi Okimoto, Sumiko Takaoka Month: September Year: 2023

Finance and the Macroeconomy

27 December 2023

Revisiting the Monetary Transmission Mechanism through an Industry-Level Differential Approach

Vol: 64/2023 Authors: Sangyup Choi, Tim Willems, Seung Yong Yoo Month: December Year: 2023

Finance and the Macroeconomy
Macroeconomic Policy Frameworks

25 January 2023

Understanding the Global Drivers of Inflation: How Important are Oil Prices?

Vol: 03/2023 Authors: Jongrim Ha, M. Ayhan Kose, Franziska Ohnsorge, Hakan Yilmazkuday Month: January Year: 2023

Finance and the Macroeconomy

22 December 2023

Loan-to-Value Shocks and Housing in the Production Function

Vol: 62/2023 Authors: Vivek Sharma Month: December Year: 2023

Finance and the Macroeconomy

24 November 2023

State-Dependent Effects of Loan-to-Value Shocks

Vol: 58/2023 Authors: Vivek Sharma Month: November Year: 2023

Finance and the Macroeconomy

29 November 2022

Portfolio Capital Flows and the US Dollar Exchange Rate: Viewed from the Lens of Time and Frequency Dynamics of Connectedness

Vol: 72/2022 Authors: Mangal Goswami, Victor Pontines, Yassier Mohammed Month: November Year: 2022

Finance and the Macroeconomy

27 October 2022

Which Financial Inclusion Indicators and Dimensions Matter for Income Inequality? A Bayesian Model Averaging Approach

Vol: 67/2022 Authors: Rogelio Mercado Jr., Victor Pontines Month: October Year: 2022

Finance and the Macroeconomy

From Low to High Inflation: Implications for Emerging Market and Developing Economies

Vol: 29/2022 Authors: Jongrim Ha, M. Ayhan Kose, Franziska Ohnsorge Month: April Year: 2022

Finance and the Macroeconomy
Open Economy Macroeconomics

18 October 2022

A Structural Measure of the Shadow Federal Funds Rate

Vol: 61/2022 Authors: Callum Jones, Mariano Kulish, James Morley Month: October Year: 2022

Finance and the Macroeconomy

15 February 2023

Leverage and Time-Varying Effects of Monetary Policy on the Stock Market

Vol: 07/2023 Authors: Severin Bernhard, Philip Vermeulen Month: February Year: 2023

Finance and the Macroeconomy

23 September 2022

Household Indebtedness and the Macroeconomic Effects of Tax Changes

Vol: 56/2022 Authors: Sangyup Choi, Junhyeok Shin Month: September Year: 2022

Macroeconomic Policy Frameworks
Finance and the Macroeconomy

24 February 2022

Are Government Spending Shocks Inflationary at the Zero Lower Bound? New Evidence From Daily Data

Vol: 19/2022 Authors: Sangyup Choi, Junhyeok Shin, Seung Yong Yoo Month: February Year: 2022

Finance and the Macroeconomy
Macroeconomic Policy Frameworks

22 September 2022

Is a Global Recession Imminent?

Vol: 55/2022 Authors: Justin Damien Guénette, M. Ayhan Kose, Naotaka Sugawara Month: September Year: 2022

Finance and the Macroeconomy

07 February 2022

Central Bank Digital Currency: A Review and Some Macro-Financial Implications

Vol: 12/2022 Authors: Hongyi Chen, Pierre Siklos Month: February Year: 2022

Finance and the Macroeconomy

16 September 2022

Heterogeneous Beliefs and the Phillips Curve

Vol: 51/2022 Authors: Roland Meeks, Francesca Monti Month: September Year: 2022

Finance and the Macroeconomy

24 January 2022

Commodity Price Uncertainty Comovement: Does It Matter for Global Economic Growth?

Vol: 08/2022 Authors: Laurent Ferrara, Aikaterini Karadimitropoulou, Athanasios Triantafyllou Month: January Year: 2022

Finance and the Macroeconomy

Slowing Growth: More Than a Rough Patch

Vol: 23/2023 Authors: M. Ayhan Kose, Franziska Ohnsorge Month: May Year: 2023

Finance and the Macroeconomy