Details about Neil Wallace

E-mail:	neilw@psu.edu
Homepage:	http://econ.la.psu.edu/BiographyPages/wallace_bio.html
Phone:	814-863-3805
Workplace:	Department of Economics, Pennsylvania State University, (more information at EDIRC)

Access statistics for papers by Neil Wallace.

Last updated 2009-02-26. Update your information in the RePEc Author Service.

Short-id: pwa33

---

Jump to Journal Articles Chapters

Working Papers

2007

1. Coalition-Proof Trade and the Friedman Rule in the Lagos-Wright Model
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)

2006

2. The role of independence in the Green-Lin Diamond-Dybvig model
   Working Papers (Old Series), Federal Reserve Bank of Cleveland View citations (3)

2004

3. A model of (the threat of) counterfeiting
   Working Papers (Old Series), Federal Reserve Bank of Cleveland View citations (3)

2003

4. Resolving the National Banking System note-issue puzzle
   Working Papers (Old Series), Federal Reserve Bank of Cleveland View citations (1)

1999

5. Optimal Monetary Impulse-Response Functions in a Matching Model
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
   Also in Working Papers, Federal Reserve Bank of Minneapolis (1999) View citations (1)

1998

6. The role of damage-contingent contracts in allocating the risks of natural catastrophes
   Working Papers, Federal Reserve Bank of Minneapolis View citations (2)

1997

7. A model of regulated private bank-note issue
   Working Papers, Federal Reserve Bank of Minneapolis View citations (1)
8. Optimal allocations with incomplete record-keeping and no commitment
   Working Papers, Federal Reserve Bank of Minneapolis View citations (7)

1996

9. A model of a currency shortage
   Working Papers, Federal Reserve Bank of Minneapolis
10. Coexistence of money and interest-bearing securities
    Working Papers, Federal Reserve Bank of Minneapolis View citations (75)
11. Short-run and long-run effects of changes in money in a random matching model
    Working Papers, Federal Reserve Bank of Minneapolis
    See also Journal Article Short-Run and Long-Run Effects of Changes in Money in a Random-Matching Model, Journal of Political Economy, University of Chicago Press (1997) View citations (22) (1997)

1995

12. Government transaction policy, the medium of exchange, and welfare
    Working Papers, Federal Reserve Bank of Minneapolis View citations (2)

1993

13. Interest Rates Under the U.S. National Banking System
    Economic History, University Library of Munich, Germany View citations (6)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (1993) View citations (8)

1991

14. Existence of steady states with positive consumption in the Kiyotaki-Wright model
    Working Papers, Federal Reserve Bank of Minneapolis View citations (56)

1985

15. Identification and estimation of a model of hyperinflation with a continuum of \"sunspot\" equilibrium
    Working Papers, Federal Reserve Bank of Minneapolis View citations (1)
16. National monetary policies in a world economy: a role for cooperation
    Working Papers, Federal Reserve Bank of Minneapolis
17. Ricardian equivalence and money dominated in return: are they mutually consistent generally?
    Staff Report, Federal Reserve Bank of Minneapolis
18. Suspension and the financing of the Civil War: a critique of Newcomb and Mitchell
    Working Papers, Federal Reserve Bank of Minneapolis

1983

19. A model of commodity money
    Staff Report, Federal Reserve Bank of Minneapolis View citations (47)
20. A price discrimination analysis of monetary policy
    Staff Report, Federal Reserve Bank of Minneapolis View citations (1)

1982

21. A model of circulating private debt
    Staff Report, Federal Reserve Bank of Minneapolis View citations (2)

1981

22. The real bills doctrine vs. the quantity theory: a reconsideration
    Staff Report, Federal Reserve Bank of Minneapolis View citations (10)

1980

23. A hybrid fiat-commodity monetary system
    Staff Report, Federal Reserve Bank of Minneapolis
24. A suggestion for further simplifying the theory of money
    Staff Report, Federal Reserve Bank of Minneapolis View citations (14)

1979

25. A Modigliani-Miller theorem for open-market operations
    Staff Report, Federal Reserve Bank of Minneapolis
    See also Journal Article A Modigliani-Miller Theorem for Open-Market Operations, American Economic Review, American Economic Association (1981) View citations (380) (1981)
26. Monetary policy in the presence of a stochastic deficit
    Staff Report, Federal Reserve Bank of Minneapolis View citations (2)

1978

27. Open-market operations in a model of regulated, insured intermediaries
    Staff Report, Federal Reserve Bank of Minneapolis View citations (3)
    See also Journal Article Open-Market Operations in a Model of Regulated, Insured Intermediaries, Journal of Political Economy, University of Chicago Press (1980) View citations (15) (1980)
28. Samuelson's consumption-loan model with country-specific fiat monies
    Staff Report, Federal Reserve Bank of Minneapolis View citations (7)
29. The overlapping-generations model of fiat money
    Staff Report, Federal Reserve Bank of Minneapolis View citations (6)

1977

30. A payments mechanism without Fed involvement and Fed monetary policy without required reserves
    Staff Report, Federal Reserve Bank of Minneapolis
31. Deposit insurance and bank regulation: a partial equilibrium exposition
    Staff Report, Federal Reserve Bank of Minneapolis
    See also Journal Article Deposit Insurance and Bank Regulation: A Partial-Equilibrium Exposition, The Journal of Business, University of Chicago Press (1978) View citations (225) (1978)
32. On simplifying the theory of fiat money
    Staff Report, Federal Reserve Bank of Minneapolis View citations (2)
33. Samuelson's pure consumption loans model with constant returns-to-scale storage
    Staff Report, Federal Reserve Bank of Minneapolis View citations (1)
34. The inefficiency of a nominal national debt
    Staff Report, Federal Reserve Bank of Minneapolis View citations (1)

1976

35. Portfolio autarky: a welfare analysis
    Staff Report, Federal Reserve Bank of Minneapolis

1974

36. Rational expectations and the theory of economic policy
    Working Papers, Federal Reserve Bank of Minneapolis View citations (5)

1972

37. The Thomson-Pierce monthly model: a test for structural change
    Working Papers, Federal Reserve Bank of Minneapolis

Journal Articles

2014

1. An Attractive Monetary Model with Surprising Implications for Optima: Two Examples
   Quarterly Review, 2014, (March), 1-16
2. Optimal inflation in a model of inside money
   Review of Economic Dynamics, 2014, 17, (2), 287-293 View citations (13)

2006

3. Optimal divisibility when money is costly to produce
   Review of Economic Dynamics, 2006, 9, (3), 541-556 View citations (10)

2000

4. Comment on Theoretical Analysis Regarding a Zero Lower Bound on Nominal Interest Rates
   Journal of Money, Credit and Banking, 2000, 32, (4), 931-35 View citations (9)
5. Knowledge of individual histories and optimal payment arrangements
   Quarterly Review, 2000, 24, (Sum), 11-21 View citations (10)

1999

6. A Matching Model with Bounded Holdings of Indivisible Money
   International Economic Review, 1999, 40, (4), 961-84 View citations (20)
7. A model of private bank-note issue
   Review of Economic Dynamics, 1999, 2, (1), 104-136 View citations (108)
8. Foreword
   Review of Economic Dynamics, 1999, 2, (1), 1
9. Inside and Outside Money as Alternative Media of Exchange
   Journal of Money, Credit and Banking, 1999, 31, (3), 443-57 View citations (165)
   Also in Proceedings, 1999, 443-468 (1999) View citations (141)

1998

10. A dictum for monetary theory
    Quarterly Review, 1998, 22, (Win), 20-26 View citations (23)

1997

11. Absence-of-double-coincidence models of money: a progress report
    Quarterly Review, 1997, 21, (Win), 2-20 View citations (13)
12. S. Rao Aiyagari: my student and my teacher
    Quarterly Review, 1997, 21, (Sum), 2-4
13. Short-Run and Long-Run Effects of Changes in Money in a Random-Matching Model
    Journal of Political Economy, 1997, 105, (6), 1293-1307 View citations (22)
    See also Working Paper Short-run and long-run effects of changes in money in a random matching model, Working Papers (1996) (1996)

1996

14. Narrow banking meets the Diamond-Dybvig model
    Quarterly Review, 1996, 20, (Win), 3-13 View citations (33)
15. Search-theoretic models of international currency - commentary
    Review, 1996, 78, (May), 136-138
    Also in Proceedings, 1996, 78, (May), 136-138 (1996)

1992

16. Fiat Money in the Kiyotaki-Wright Model
    Economic Theory, 1992, 2, (4), 447-64 View citations (32)
17. Resolving the national bank note paradox
    Quarterly Review, 1992, 16, (Spr), 13-21 View citations (7)
18. SPDAs and GICs: like money in the bank?
    Quarterly Review, 1992, 16, (Sum), 2-17 View citations (5)

1990

19. A banking model in which partial suspension is best
    Quarterly Review, 1990, 14, (Fall), 11-23 View citations (97)
20. A suggestion for oversimplifying the theory of money
    Quarterly Review, 1990, 14, (Win), 19-26 View citations (8)
21. Why markets in foreign exchange are different from other markets
    Quarterly Review, 1990, 14, (Win), 12-18 View citations (5)
    Also in Quarterly Review, 1979, 3, (Fall) (1979) View citations (12)

1988

22. Another attempt to explain an illiquid banking system: the Diamond and Dybvig model with sequential service taken seriously
    Quarterly Review, 1988, 12, (Fall), 3-16 View citations (122)

1985

23. A shred of evidence on public acceptance of privately issued currency
    Quarterly Review, 1985, 9, (Win) View citations (3)
24. International coordination of macroeconomic policies: a welfare analysis
    Quarterly Review, 1985, 9, (Spr) View citations (7)

1984

25. Some of the choices for monetary policy
    Quarterly Review, 1984, 8, (Win) View citations (32)

1983

26. A legal restrictions theory of the demand for \\"money\\" and the role of monetary policy
    Quarterly Review, 1983, 7, (Win) View citations (35)
27. Speculations about the speculation against the Hong Kong dollar
    Quarterly Review, 1983, 7, (Fall) View citations (6)

1982

28. Alternative intermediate instruments of monetary policy: panel presentation
    Proceedings, 1982, (Nov), 215-251
29. The Real-Bills Doctrine versus the Quantity Theory: A Reconsideration
    Journal of Political Economy, 1982, 90, (6), 1212-36 View citations (120)

1981

30. A Modigliani-Miller Theorem for Open-Market Operations
    American Economic Review, 1981, 71, (3), 267-74 View citations (380)
    See also Working Paper A Modigliani-Miller theorem for open-market operations, Staff Report (1979) (1979)
31. Some unpleasant monetarist arithmetic
    Quarterly Review, 1981, 5, (Fall) View citations (1193)

1980

32. Integrating micro and macroeconomics: an application to credit controls
    Quarterly Review, 1980, 4, (Fall) View citations (2)
33. Open-Market Operations in a Model of Regulated, Insured Intermediaries
    Journal of Political Economy, 1980, 88, (1), 146-73 View citations (15)
    See also Working Paper Open-market operations in a model of regulated, insured intermediaries, Staff Report (1978) View citations (3) (1978)

1979

34. The Inefficiency of Interest-bearing National Debt
    Journal of Political Economy, 1979, 87, (2), 365-81 View citations (39)

1978

35. Deposit Insurance and Bank Regulation: A Partial-Equilibrium Exposition
    The Journal of Business, 1978, 51, (3), 413-38 View citations (225)
    See also Working Paper Deposit insurance and bank regulation: a partial equilibrium exposition, Staff Report (1977) (1977)
36. International monetary reform: the feasible alternatives
    Quarterly Review, 1978, 2, (Sum) View citations (3)

1977

37. Why the Fed should consider holding Mo constant
    Quarterly Review, 1977, 1, (Sum) View citations (8)

1975

38. "Rational" Expectations, the Optimal Monetary Instrument, and the Optimal Money Supply Rule
    Journal of Political Economy, 1975, 83, (2), 241-54 View citations (788)

1974

39. On Stabilization Policy: Goals and Models
    American Economic Review, 1974, 64, (2), 330-37 View citations (2)
40. The Elasticity of Substitution and Cyclical Behavior of Productivity, Wages, and Labor's Share
    American Economic Review, 1974, 64, (2), 257-63 View citations (7)

1973

41. Optimal Open Market Strategy: The Use of Information Variables
    American Economic Review, 1973, 63, (1), 156-72 View citations (54)
42. Rational Expectations and the Dynamics of Hyperinflation
    International Economic Review, 1973, 14, (2), 328-50 View citations (128)
43. The Stability of Models of Money and Growth with Perfect Foresight
    Econometrica, 1973, 41, (6), 1043-48 View citations (101)

1972

44. An Approach to the Study of Money and Nonmoney Exchange Structures
    Journal of Money, Credit and Banking, 1972, 4, (4), 838-47 View citations (1)
45. The Monetary Instrument Variable Choice: How Important?: Comment
    Journal of Money, Credit and Banking, 1972, 4, (3), 723-29

1971

46. Market Transaction Costs, Asset Demand Functions, and the Relative Potency of Monetary and Fiscal Policy
    Journal of Money, Credit and Banking, 1971, 3, (2), 469-505

1970

47. The Determination of the Stock of Reserves and the Balance of Payments in a Neo-Keynesian Model
    Journal of Money, Credit and Banking, 1970, 2, (3), 269-90

1969

48. Buse on Meiselman-A Comment
    Journal of Political Economy, 1969, 77, (4), 524-27

Chapters

1972

1. A Study of Discretionary and Nondiscretionary Monetary and Fiscal Policies in the Context of Stochastic Macroeconometric Models
   A chapter in Economic Research: Retrospect and Prospect, Volume 1, The Business Cycle Today, 1972, pp 261-309 View citations (9)