Macroeconomics: Recent Publications
Research publications produced over the past three years by the Melbourne Institute’s Macroeconomics research program.
Refereed Journal Articles
- Caggiano G, Castelnuovo E, Colombo V & Nodari G. 2015. Estimating Fiscal Multipliers: News from a Non-linear World. Economic Journal. 125(584): 746–776.
- Caggiano G, Castelnuovo E & Groshenny N. 2014. Uncertainty shocks and unemployment dynamics in U.S. recessions. Journal of Monetary Economics. 67(October): 78–92.
- Castelnuovo E. 2016. Modest Macroeconomic Effects of Monetary Policy Shocks During the Great Moderation: An Alternative Interpretation. Journal of Macroeconomics. 47(Part B, March): 300–314.
- Castelnuovo E. 2016. Monetary Policy Shocks and Cholesky-VARs: An Assessment for the Euro Area. Empirical Economics. 50(2): 383–414.
- Castelnuovo E & Fanelli L. 2015. Monetary Policy Indeterminacy and Identification Failures in the U.S.: Results from A Robust Test. Journal of Applied Econometrics. 30(6): 924–947.
- Castelnuovo E, Lim G & Robinson T. 2016. Introduction to the Policy Forum: Macroeconomic Consequences of Macroprudential Policies. The Australian Economic Review. 49(1): 77–82.
- Chow HK, Lim GC & McNelis PD. 2014. Monetary Regime Choice in Singapore: Would a Taylor Rule Outperform Exchange-Rate Management? Journal of Asian Economics. 30: 63–81.
- Dixon R, Griffiths W & Lim G. 2014. Lay people’s models of the economy: A study based on surveys of consumer sentiments. Journal of Economic Psychology. 44: 13–20.
- Dixon R & Lim GC. 2016. Modelling the Dynamics of Regional Employment–Population Ratios and their Commonality. Urban Studies. 53(2): 338–354.
- Dixon R, Lim G & Freebairn J. 2014. Regional Beveridge Curves: A Latent Variable Approach. Regional Studies. 48(2): 254–269.
- Dixon R, Lim G & van Ours J. 2015. The effect of shocks to labour market flows on unemployment and participation rates. Applied Economics. 47(24): 2523–2539.
- Lim GC & Nguyen VH. 2015. Alternative Weighting Approaches to Computing Indexes of Economic Activity. Journal of Economic Surveys. 29: 287–300.
- Lim G, Nguyen V & Chua C. 2014. Review of the Australian Economy 2013–14: The Age of Austerity? Australian Economic Review. 47(1): 1–12.
- Ouliaris S & Pagan A. 2016. A Method for Working with Sign Restrictions in Structural Equation Modelling. Oxford Bulletin of Economics and Statistics. 78(5): 605–622.
- Pagan A & Robinson T. 2014. Methods for Assessing the Impact of Financial Effects Upon the Business Cycle in Macroeconometric Models. Journal of Macroeconomics. 41: 94–106.
- Robinson T, Tsiaplias S & Nguyen VH. 2015. The Australian Economy in 2014–15: An Economy in Transition. Australian Economic Review. 48: 1–14.
- Robinson T, Tsiaplias S & Nguyen VH. 2016. The Australian Economy in 2015–16: Uncertainties and Challenges. Australian Economic Review. 49(1): 5–19.
Budget Deficits and the Dual Roles of Fiscal Policy
Guay Lim, Tim Robinson, Viet Hoang Nguyen (May, 2016)
Housing Affordability: How Important is the Lending Rate?
Guay Lim, Sarantis Tsiaplias (January, 2016)
Fiscal Debt Sustainability in Australia: Is it Feasible?
Efrem Castelnuovo (May, 2015)
Budget Deficits and Fiscal Policies
Guay Lim, Viet Hoang Nguyen, Sarantis Tsiaplias (April, 2015)
- Budget Deficits and the Dual Roles of Fiscal Policy
Uncertainty and Monetary Policy in Good and Bad Times
Giovanni Caggiano, Efrem Castelnuovo, Gabriela Nodari (2017)
Uncertainty and Monetary Policy in the US: A Journey into Non-Linear Territory
Giovanni Pellegrino (2017)
Economic Policy Uncertainty and Unemployment in the United States: A Nonlinear Approach
Giovanni Caggiano, Efrem Castelnuovo, Juan Manuel Figueres (2017)
Estimating the Real Effects of Uncertainty Shocks at the Zero Lower Bound
Giovanni Caggiano, Efrem Castelnuovo, Giovanni Pellegrino (2017)
Liquidity Traps and Large-Scale Financial Crises
Giovanni Caggiano, Efrem Castelnuovo, Olivier Damette, Antoine Parent, Giovanni Pellegrino (2016)
Gimme a Break! Identification and Estimation of the Macroeconomic Effects of Monetary Policy Shocks in the U.S.
Emanuele Bacchiocchi, Efrem Castelnuovo, Luca Fanelli (2016)
Modest Macroeconomic Effects of Monetary Policy Shocks during the Great Moderation: An Alternative Interpretation
Efrem Castelnuovo (2016)
Revisiting Okun’s Relationship
Robert Dixon, G. C. Lim, Jan C. van Ours (2016)
Risk and Return Spillovers among the G10 Currencies
Matthew Greenwood-Nimmo, Viet Hoang Nguyen, Barry Rafferty (2016)
Non-Linearities in the Relationship between House Prices and Interest Rates: Implications for Monetary Policy
G. Lim, S. Tsiaplias (2016)
Measuring the Connectedness of the Global Economy
Matthew Greenwood-Nimmo, Viet Hoang Nguyen, Yongcheol Shin (2015)
Financial Stress Thresholds and Household Equivalence Scales
G. C. Lim, Sarantis Tsiaplias (2015)
A Bayesian Approach to Modelling Bivariate Time-Varying Cointegration and Cointegrating Rank
Chew Lian Chua, Sarantis Tsiaplias (2014)
Estimating Fiscal Multipliers: News from a Nonlinear World
Giovanni Caggiano, Efrem Castelnuovo, Valentina Colombo, Gabriela Nodari (2014)
Monetary Policy Indeterminacy and Identification Failures in the U.S.: Results from a Robust Test
Efrem Castelnuovo, Luca Fanelli (2015)
Quantifying Informational Linkages in a Global Model of Currency Spot Markets
Matthew Greenwood-Nimmo, Viet Hoang Nguyen, Yongcheol Shin (2014)
Estimating the Expected Duration of the Zero Lower Bound in DSGE Models with Forward Guidance
Mariano Kulish, James Morley, Tim Robinson (2014)
The Effect of Shocks to Labour Market Flows on Unemployment and Participation Rates
Robert Dixon, Guay C. Lim, Jan C. van Ours (2014)
Uncertainty Shocks and Unemployment Dynamics in U.S. Recessions
Giovanni Caggiano, Efrem Castelnuovo, Nicolas Groshenny (2014)
Income Inequality, Trade and Financial Openness
Guay Lim, Paul D. McNelis (2014)
- Uncertainty and Monetary Policy in Good and Bad Times