Christian R. Proaño

University Professor of Economics, Otto-Friedrich-Universität Bamberg

Articles in Peer-Reviewed Journals

Proaño, C.R., Schoder, C.& W. Semmler (2014), Financial Stress, Sovereign Debt and Economic
Activity in Industrialized Countries: Evidence from Dynamic Threshold Regressions. Journal of
International Money and Finance 45, 17-37.

Proaño, C.R. & T. Theobald (2014), Predicting German Recessions with a Composite Real-Time Dynamic Probit Indicator. International Journal of Forecasting 30, 898-917.

Flaschel, P., Hartmann, F., Malikane, C. & Proaño, C.R. (2014), A Behavioral Macroeconomic Model
of Exchange Rate Fluctuations with Complex Market Expectations Formation. Computational
Economics, forthcoming.

Charpe, M., Flaschel, P., Krolzig, H.-M. Proaño, C.R., Semmler,W. & D. Tavani (2014), Credit-Driven
Investment, Labor Market Heterogeneity and Macroeconomic Dynamics. Journal of Economic
Interaction and Coordination, forthcoming.

Schoder, C., Proaño, C.R. & W. Semmler (2013), Are the current account imbalances in EMU countries sustainable? Evidence from parametric and non-parametric tests. Journal of Applied Econometrics 28(7), 1179-1204, Nov.-Dec.

Proaño, C.R. (2013), Monetary Policy Rules and Macroeconomic Stabilization in Small Open Economies under Behavioral FX Trading: Insights from Numerical Simulations. The Manchester School 81(6), 992-1011, Dec. (NSSR Working Paper 02/2011 version).

Chiarella, C., Hartmann, F., Flaschel, P. & Proaño, C.R. (2012), Stock Market Booms, Endogenous Credit Creation and the Implications of Broad and Narrow Banking for Macroeconomic Stability. Journal of Economic Behavior and Organization 83, 410-423.

Chiarella, C., Flaschel, P, Köper, C, Proaño, C.R. & W. Semmler (2012), Macroeconomic Stabilization Policies in Intrinsically Unstable Macroeconomies. Studies in Nonlinear Dynamics & Econometrics, (Special Issue: Recent Advances in Continuous-time Econometrics and Economic Dynamics -– Contributions in Honor of Giancarlo Gandolfo), 16(2), Apr.

Proaño, C.R. (2012), Should Monetary Policy Take Account of National Labor Market Asymmetries in a Currency Union?. Economics Bulletin, 32(3), 1878-1889.

Proaño, C.R. (2012), Gradual Wage-Price Adjustments, Labor Market Frictions and Monetary Policy Rules. Journal of Economic Behavior and Organization, 82(1), 220-235, Apr.

Charpe, M., Flaschel, P. & C.R. Proaño (2012), Income Distribution, Credit Rationing and Households’ Debt. Metroeconomica, 63(3), 458-492.

Taylor, L., Proaño, C.R., De Carvalho, L. & N. Barbosa (2012), Fiscal Deficits, Economic Growth, and Government Debt in the USA. Cambridge Journal of Economics, 36, 189-204.

Asada, T., Charpe, M., Flaschel, P., Malikane, C., Mouakil, T. & C.R. Proaño (2011), Output, Stock Markets and Macro-Policy Measures in a Keynesian Portfolio Model. Intervention. European Journal of Economics and Economic Policy, 8(2), 341-360.

Flaschel, P, Greiner, A., Logeay, C. & C.R. Proaño (2011), Employment Cycles, Low Income Work and the Dynamic Impact of Minimum Wages. A Macro Perspective. Journal of Evolutionary Economics (6 July 2011), 1-16. (a previous version appeared as Macroeconomic Policy Institute (IMK) Working Paper 04/2010).

Charpe, M., Flaschel, P., Hartmann, F. & C.R. Proaño (2011), Stabilizing an Unstable Economy: Fiscal and and Monetary Policy, Stocks, and the Term Structure of Interest Rates. Economic Modelling, 28(5), 2129-2136, Sep.

Asada, T., Chiarella, C., Flaschel, P., Mouakil, T. Proaño, C.R. & W. Semmler (2011), Stock-Flow Interactions and Disequilibrium Macroeconomics: The Role of Economic Policy. Journal of Economic Surveys, 25(3), 569-599, July.

Flaschel, P., Proaño, C.R. & S. Luchtenberg (2011), Crisis as Opportunity: A Tentative Roadmap of Reforms towards Social Capitalism. Bulletin of Political Economy, 5(1), 1-40 (June).

Diallo, M.B., Flaschel, P. & C.R. Proaño (2011), Reconsidering the dynamic interaction between real wages and macroeconomic activity. Research in World Economy 2(1), Apr.

Proaño, C.R., Flaschel, P., Krolzig, H.M. & M.B. Diallo (2011), Monetary Policy and Macroeconomic Stability under Alternative Demand Regimes. Cambridge Journal of Economics 35(3), 569-585.

Asada, T., Flaschel, P., Greiner, A. & C.R. Proaño (2011), Sustainable Capitalism: Full-Employment Flexicurity Growth with Real Wage Rigidities. Journal of Economic Behavior and Organization, 77(4), 248-264, Mar (a previous version appeared as Macroeconomic Policy Institute (IMK) Working Paper 05/2010).

Proaño, C.R. (2011), Exchange Rate Determination, Macroeconomic Dynamics and Stability under Heterogeneous Behavioral FX Expectations. Journal of Economic Behavior and Organization, 77(2), 177-188, Feb (a previous version appeared as Macroeconomic Policy Institute (IMK) Working Paper 03/2009).

Asada, T., Chiarella, C., Flaschel, P., Mouakil, T., Proaño, C.R. & W. Semmler (2010), Stabilizing an Unstable Economy: On the Choice of Proper Policy Measures. Economics: The Open-Access, Open-Assessment E-Journal, Special Issue on “Managing Financial Instability in Capitalistic Economies” (Eds: Lux, T. & M. Raberto), 3(2010-21), July 16.

Charpe, M., Flaschel, P., Proaño, C.R. & W. Semmler (2009), Overconsumption, Credit Rationing and Bail-Out-Based Monetary Policy. Intervention. European Journal of Economics and Economic Policy 6(2), 247-270 (a previous version appeared as Macroeconomic Policy Institute (IMK) Working Paper 04/2009).

Proaño, C.R. (2009), (De-)Stabilizing International Macroeconomic Interactions in an Estimated Model of the U.S. and the Euro Area. International Economics and Economic Policy, 6(4), 421-443.

Flaschel, P. & C.R. Proaño (2009), The J2 Status of “Chaos” in Period Macroeconomic Models. Studies in Nonlinear Dynamics and Econometrics 13(2), Article 2 (a previous version appeared as Macroeconomic Policy Institute (IMK) Working Paper 14/2008).

Flaschel, P., Franke, R. & C.R. Proaño (2008), On Equilibrium Determinacy in New Keynesian Models with Staggered Wage and Price Setting. The B.E. Journal of Macroeconomics, 8(1), Article 31 (Topics) (a previous version appeared as Macroeconomic Policy Institute (IMK) Working Paper 11/2008).

Proaño, C.R., Flaschel, P. & W. Semmler (2008), Currency Crises and Monetary Policy in Economies with Partial Dollarization of Liabilities. ICFAI Journal of Monetary Economics VI(3), pp. 14-39 (a previous version appeared as Macroeconomic Policy Institute (IMK) Working Paper 05/2006).

Flaschel, P., Franke, R. & C.R. Proaño (2006), Wage-Price Dynamics and Income Distribution in a Semi-Structural Keynes-Goodwin Model. Structural Change and Economic Dynamics, 17, 452-465.

Proaño, C.R. Flaschel, P. & W. Semmler (2005), Currency and Financial Crises in Emerging Market Economies in the Medium Run. Journal of Economic Asymmetries, 2, 105-130.

Proaño, C.R. (2005), Dolarización de Obligaciones, Fragilidad Financiera y Desempeño Macroeconómico. Cuestiones Económicas, 21(1), 1-23, Banco Central del Ecuador.