Working paper series
The Birkbeck Centre for Applied Macroeconomics (BCAM) working paper series promotes research in applied macroeconomics from various perspectives.
We welcome contributions from BCAM members, including MPhil/PhD research students and visiting academics.
Issues of the working paper series
2024
- BCAM 2402: 'Maximum likelihood estimation of dynamic factor models using general cross sectional covariance", Tom Spencer.
- BCAM 2401: 'Technological synergies, heterogeneous firms, and idiosyncratic volatility', Jesús Fernández-Villaverde, Yang Yu, Francesco Zanetti.
2022
- BCAM 2206: 'Agreed and Disagreed Uncertainty", Luca Gambetti, Dimitris Korobilis, John D. Tsoukalas, Francesco Zanetti
- BCAM 2205: 'Testing the effectiveness of unconventional monetary policy in Japan and the United States', Daisuke Ikeda, Shangshang Li, Sophocles Mavroeidis, Francesco Zanetti.
- BCAM 2204: 'State dependence of fiscal multipliers: the source of fluctuations matters', Mishel Ghassibe and Francesco Zanetti.
- BCAM 2203: 'Revisiting the great ratios hypothesis', Alexander Chudik, M. Hashem Pesaran and Ron P. Smith.
- BCAM 2202: 'The macroeconomic cost of climate volatility', Piergiorgio Alessandri and Haroon Mumtaz.
- BCAM 2201: 'Consumer choices with wealth preferences and separation of consumption and payment', Carolyn St Aubyn.
2021
- BCAM 2108: 'Arbitrage pricing theory, the stochastic discount factor and estimation of risk premia in portfolios', Hashem Pesaran, M. and Smith, R.
- BCAM 2107: 'Accountability and learning with motivated agents', Yu, T.
- BCAM 2106: 'Intrinsic motivation, office incentives, and innovation', Yu, T.
- BCAM 2105: 'Polarization and political selection', Yu, T. and Ash, E.
- BCAM 2104: 'Imperfect information, heterogenous demand shocks, and inflation dynamics', Okuda, T., Tsuruga, T. and Zanetti, F.
- BCAM 2103: 'The "Matthew Effect" and market concentration: search complementarities and monopsony power', Fernandez-Villaverde, J., Mandelman, F., Yu, Y. and Zanetti, F.
- BCAM 2102: 'Macroeconomic effects of firms' underspending in times of abundant credit', Samiri, I.
- BCAM 2101: 'Credit markets, intermediate production and the business cycle', Samiri, I.
2020
- BCAM 2005: 'Understanding the gains from wage flexibility in a currency union: the fiscal policy connection', Okano, E.
- BCAM 2004: 'Monetary policy, firm heterogeneity and product variety', Hamano, M. and Zanetti, F.
- BCAM 2003: 'Fertility changes and replacement migration', Aksoy, Y. and Zoega, G.
- BCAM 2002: 'Government debt, deficits and interest rates 1870 - 2016', Smith, R.
- BCAM 2001: 'State Dependence in Labor Market Fluctuations', Pizzinelli, C., Theodoridis, K. and Zanetti, F.
2019
- BCAM 1910: 'The Chair of the U.S. Federal Reserve and the macroeconomic causality regimes', Aksoy, Y. Morita, R. and Psaradakis, Z.
- BCAM 1909:' Drivers of bank loan growth in China: government or market?' Chen, X. and Wohlfarth, P.
- BCAM 1908: 'Preferred habitat, policy, and the CIP puzzle', Wohlfarth, P.
- BCAM 1907: 'The Effect of Brexit on the UK Economy (so far)', Engilbertsson, S. and Zoega, G.
- BCAM 1906: 'Imperfect information, shock heterogeneity, and inflation dynamics', Okuday, T., Tsurugaz, T. and Zanetti, F.
- BCAM 1905: 'Search complementarities, aggregate fluctuations, and fiscal policy', Villaverde, J.F., Mandelman, F. and Yu, Y. and Zanetti, F.
- BCAM 1904: 'Time variation in lifecycle consumption and housing wealth', Aksoy, Y., Basso, H. and St Aubyn, C.
- BCAM 1903: 'The Macroeconomic Impact of the Euro', Akhmadieva, V. and Smith, RP.
- BCAM 1902: 'Optimal monetary and fiscal policy rules, welfare gains and exogenous shocks in an economy with default risk', Okano, E. and Eguchi, M.
- BCAM 1901: 'Revisiting the fiscal theory of sovereign risk from a DSGE viewpoint', Okano, E. and Inagaki, K.
2018
- BCAM 1802: 'Quality of Politicians and Electoral Systems: Evidence from a Quasi-Experimental Design for Italian Cities', Marco Alberto de Benedetto.
- BCAM 1801: 'State Dependence in Labour Market Fluctuations: Evidence, Theory, and Policy Implications', Carlo Pizzinelli, Konstantinos Theodoridis and Francesco Zanetti.
2017
- BCAM 1708: 'Optimal Monetary Policy and Fiscal Policy Interaction in a Non-Ricardian Economy', Massimiliano Rigon and Francesco Zanetti.
- BCAM 1707: 'Posterior Means and Precisions of the Coefficients in Linear Models with Highly Collinear Regressors', M. Hashem Pesaran and Ron P. Smith.
- BCAM 1706: 'Tests of Policy Interventions in DSGE Models', M. Hashem Pesaran and Ron P Smith.
- BCAM 1705: 'The Effect of News Shocks and Monetary Policy', Luca Gambetti, Dimitris Korobilis, John D. Tsoukalas and Francesco Zanetti.
- BCAM 1704: 'Monetary Aggregates and Monetary Policy in Peru', Erick Lahura.
- BCAM 1703: 'Bank Lending in Uncertain Times’, Piergiorgio Alessandri and Margherita Bottero.
- BCAM 1702: 'Bank Loan Components, Uncertainty and Monetary Transmission Mechanism’, Ekaterina Pirozhkova.
- BCAM 1701: 'Financial Frictions and Robust Monetary Policy in the Models of New Keynesian Framework', Ekaterina Pirozhkova.
2016
- BCAM 1603: 'Adaptive Models and Heavy Tails with an Application to Inflation Forecasting', Davide Delle Monache and Ivan Petrella.
- BCAM 1602: 'Slow Recoveries: Any Role for Corporate Leverage?', Frank Smets and Stefania Villa.
- BCAM 1601: 'The Financial Stability Dark Side of Monetary Policy', Piergiorgio Alessandri, Antonio M. Conti and Fabrizio Venditti.
2015
- BCAM 1504: 'Informal Labour Markets in Pakistan', M. Ali Choudhary, Saima Mahmood and Gylfi Zoega.
- BCAM 1503: 'Optimal Inflation Weights in the Euro Area', Daniela Bragoli, Massimiliano Rigon and Francesco Zanetti.
- BCAM 1502: 'The Asymmetric Effects of Waiting Time Targets in Health Care', Sofia Dimakou, Ourania Dimakou and Henrique S. Basso.
- BCAM 1501: 'News Shocks and Labour Market Dynamics in Matching Models', Konstantinos Theodoridis and Francesco Zanetti.
2014
- BCAM 1407: 'Financial Frictions in the Euro Area and the United States: A Bayesian Assessment', Stefania Villa.
- BCAM 1406: 'The Relationship Between Panel and Synthetic Control Estimators of the Effect of Civil War', Vincenzo Bove, Leandro Eliay and Ron P. Smith.
- BCAM 1405: 'Higher Moments of MSVARs and the Business Cycle', Alexander Karalis Isaac.
- BCAM 1404: 'Financial Regimes and Uncertainty Shocks', Piergiorgio Alessandri and Haroon Mumtaz.
- BCAM 1403: 'Estimating and Forecasting the Yield Curve Using a Markov Switching Dynamic Nelson and Siegel Model', Constantino Hevia, Martin Gonzalez-Rozada, Martin Sola and Fabio Spagnolo.
- BCAM 1402: 'Leaning Against Windy Bank Lending', Giovanni Melina and Stefania Villa.
- BCAM 1401: 'Do Quality Ladders Rationalise the Observed Engel Curves?', Vincenzo Merella.