This study develops a dynamic IS-LM macroeconomic model that incorporates delayed taxation and a memory-dependent income effect, and calibrates it to quarterly data for Romania (2000–2023). Within this framework, fiscal policy lags are modelled...
In this paper, a model matching feedback law design technique is applied to a macroeconomical model. We calculate, using computational algebra methodology, which paths of government expenditure and extra taxation will lead the system to a desired dyn...
We study a monetary version of the Keen model by merging two alternative extensions, namely the addition of a dynamic price level and the introduction of speculation. We recall and study old and new equilibria, together with their local stability ana...
This paper investigates how external shocks propagate through fiscal transmission mechanisms in a commodity-dependent economy within a dynamic macroeconomic framework. The study contributes to the literature on macroeconomic fluctuations by examining...
Several studies have explored the linkage between non-performing loans and major macroeconomic indicators, using a wide variety of methodologies, sometimes with different results. This occurs, we argue, because these relationships are generally deriv...
A mathematical model of sustainable resource allocation in a competitive economy is developed and studied, taking into account transaction costs and technological constraints. The model describes the interaction of producers and consumers and introdu...
This paper presents a comparative empirical analysis of three modeling approaches applied to the forecasting of Morocco’s Real Effective Exchange Rate (REER): the ARIMA model, the Random Forest algorithm, and the Dynamic Factor Model (DFM). Uti...
The non-causal (“forward-looking”) solution used routinely in academic macroeconomics may represent a violation of a law of entropy, namely that the direction of time is one way (from the past and towards the present), and that the varian...
This paper aims to analyse the economy-wide implications of a carbon tax applied on the Chilean electricity generation sector. In order to analyse the macroeconomic impacts, both an energy sectorial model and a Dynamic Stochastic General Equilibrium...
In this paper, we present a stylized dynamic interdependent multi-country energy transition model. The goal of this paper is to provide a starting point for examining the impact of uncertainty in such models. To do this, we define a simple model base...
This paper can be considered as a brief answer to an old research question. Why do researchers need new statistical instruments based on geometric science? In the introduction, one can find some detailed significances, questions, premises, and hypoth...
Bitcoin’s role in global finance has rapidly expanded with increasing institutional participation, prompting new questions about its linkage to macroeconomic variables. This study thoughtfully integrates a Bayesian Markov Chain Monte Carlo (MCM...
A qualitative game describes a situation in which antagonistic players strive to keep the evolutions of their state variables in predetermined constraint sets. We argue that a qualitative game model is a suitable mathematical representation of the st...
Macroeconomic mathematical models are practical instruments structured to carry out theoretical analyses of macroeconomic developments. In this manuscript, the Caputo-like fractional operator of variable order is used to introduce and investigate the...
Background: With COVID-19 having a significant impact on economic activity, it has become difficult for the existing dynamic factor models (nowcasting models) to forecast macroeconomics with high accuracy. The real-time monitoring of macroeconomics h...
Time-varying volatility is common in macroeconomic data and has been incorporated into macroeconomic models in recent work. Dynamic panel data models have become increasingly popular in macroeconomics to study common relationships across countries or...
The main objective of this study is to examine the dynamic impact of import tariff reduction on major macroeconomic variables and its long-run implications for the fiscal sustainability of Ethiopia. In addition, it estimates the increase in the avera...
This paper examines the dynamic relationships between speculative activities, commodity returns, and macroeconomic conditions across five sectors compassing 29 commodities. Using weekly data spanning from January 2000 to July 2023, we construct compr...
In recent years, the economies of many countries around the world have been in a situation of intense, rapidly changing, abrupt processes. The current situation urgently requires a change in the economic paradigm in the near future, which leads to th...
Electricity tariffs in emerging economies are often influenced by macroeconomic volatility and regulatory design, affecting both affordability and system stability. Understanding these interactions is crucial for anticipating price fluctuations and e...
Rice is a staple food in most Asian countries, and food security is often viewed as having a rice supply to avoid a food crisis. The large number of people who have low incomes means there is a risk of household economic conditions being threatened w...
Using time-series data from January 2006 to February 2021, this study analyzed the effect of macroeconomic shocks on the shipping and shipbuilding industries. The Granger causality test, recursive structural vector autoregressive models, impulse resp...
Impulse response functions (IRFs) are crucial for analyzing the dynamic interactions of macroeconomic variables in vector autoregressive (VAR) models. However, traditional IRF estimation methods often have limitations with assumptions on variable ord...
Loan loss reserve accounts are an important part of banks’ ability to sustain losses. However, to enhance such protection, executives in the banking sector should recognize the factors that can affect the management of loan loss reserves. This...
In this study, we explored the impact of bank leverage and financial frictions on the transmission of real and financial shocks. Two new Keynesian dynamic stochastic general equilibrium (DSGE) models, with and without financial frictions, were employ...
22 January 2026
This study analyzes the relationship between macroeconomic distress and financial dollarization in Türkiye using annual regional panel data for 26 Nomenclature of Territorial Units for Statistics 2 regions over the period 2005–2021. Macroe...
This article examines the theoretical foundations of economic forecasting based on DSGE models. DSGE models are the main direction of contemporary macroeconomics theory—the inclusion of the stochastic processes and expectations of economic agen...
Recent research in financial economics has shown that rare large disasters have the potential to disrupt financial sectors via the destruction of capital stocks and jumps in risk premia. These disruptions often entail negative feedback effects on the...
Existing stock volatility forecasting models predominantly rely on same-frequency market data while neglecting mixed-frequency integration and face particular challenges in incorporating low-frequency macroeconomic variables that exhibit temporal mis...
This study investigates the integration of non-economic policies into the framework for assessing macroeconomic coherence as applied by the Chinese government, with a particular focus on green policies. We examine the impact of non-economic factors o...
This review systematically introduces the current main research directions of environmental macroeconomics. Environmental macroeconomics research aims to study the relationship between economic development and the ecological environment and ultimatel...
This paper reviews the literature on foreign direct investment (FDI), productivity, and technology upgrading, with a focus on macroeconomic and microeconomic models. It compares the performance of various models used to study FDI and its effects on f...
This article analyses the impact of renewable energy sources (RESs) and macroeconomic stability on the sustainable development of the logistics sector in countries in the Visegrad Group (V4) from 2008 to 2023. The study is based on indicators that de...
Understanding the price dynamics of oil futures is crucial for advancing green finance strategies and supporting sustainable energy transitions. This study investigates the macroeconomic and energy market determinants of oil futures prices through Gr...
The stability of the financial cycle is paramount for the effective formulation and implementation of macroprudential policy in South Africa. The South African Reserve Bank (SARB) and the Prudential Authority strive to mitigate excessive fluctuations...
The existing literature on carbon policy analysis in a random environment focuses on the existence of the level (first-moment) shocks, whereas recent research emphasized the nonnegligible impact of uncertainty (second-moment) shocks on macroeconomy....
Understanding the forces that shape farmland rental prices in major agricultural regions such as the U.S. Corn Belt is essential for evaluating the economic and environmental resilience of agricultural regions. This study develops an integrated frame...
All countries are trying their best to achieve maximum economic prosperity through employing efficient economic strategies. Countries seem to be conscious of various factors that can potentially affect economic growth. Given that, the current study e...
This study investigates the macroeconomic determinants behind the number of foreign visitors to Korean casinos arriving from major source countries, namely Japan, Mainland China, Hong Kong SAR and Taiwan. Using monthly data from 2006 to 2016, we util...
This paper investigates the systemic macroeconomic determinants of Pillar 2 Requirements (P2R) imposed by the European Central Bank (ECB) under the Single Supervisory Mechanism (SSM). While P2R is formally calibrated at the individual bank level thro...
We develop a dynamic, stochastic general equilibrium (DSGE) model for the euro area that accounts for climate change-related risk considerations. The model features polluting (“brown”) firms and non-polluting (“green”) firms a...
Youth unemployment remains one of the most persistent and structurally sensitive challenges in emerging economies, particularly in environments characterized by macroeconomic volatility and frequent shocks. This study investigates the dynamics and fo...
We examine the international impact of recent financial crises on contagion dynamics within international equity portfolios. First, we highlight the importance of macroeconomics for portfolio weighting for each region, and then we examine contagion v...
The global financial crisis of 2007–2008 had a negative impact on many countries, including Vietnam. Many policies have been applied to stabilize the macro-economic indicators. However, most of them are based on old qualitative models, which do not h...
This paper proposes a dynamic factor model to accurately characterize the dynamic dependence and risk spillovers between the crude oil and exchange rate returns of oil-trading countries from 2000–2020, conditional on the common factors. To this end,...
As the basic raw materials of economic activities, major commodities prices have a significant impact on the real economy. Due to the impact of the COVID-19 pandemic, major commodities prices have been fluctuating sharply in a “deep V” pa...
Previous findings indicate that the inclusion of dynamic factors obtained from a large set of predictors can improve macroeconomic forecasts. In this paper, we explore three possible further developments: (i) using automatic criteria for choosing tho...
We build on the literature of consumer debt–income inequality nexus, by developing a post-Keynesian model of growth and income distribution that incorporates both consumer and corporate borrowing. Specifically, we examine a non-linear dynamic s...
This paper reviews the development of labour market institutions in Norway, shows how labour market regulation has been related to the macroeconomic development, and presents dynamic econometric models of nominal and real wages. Single equation and m...
International market openness has long been regarded as critical for economic development, and recent evidence highlights the distinct roles of financial and trade openness, particularly in emerging and developing economies. This study examines the i...
of 5