Journal of Macroeconomics

1979 - 2025

Current editor(s): Douglas McMillin and Theodore Palivos

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Volume 17, issue 4, 1995

Long-run relations among the G-5 and G-7 equity markets: Evidence on the Plaza and Louvre Accords pp. 551-577

Lori L. Leachman and Bill Francis

Symmetry restrictions and the semblance of neutrality in exchange rate models pp. 579-599

Michael D. Goldberg

Optimal management of international reserves pp. 601-621

Chulho Jung

Growth and finance: An intertemporal model pp. 623-649

Toichiro Asada and Willi Semmler

Monetary policy and macroeconomic equilibrium in an oligopolistic economy pp. 651-665

D. Damania and Jakob B. Masden

The quantity theory of money and its long-run implications pp. 667-682

Bakhtiar Moazzami and Kanhaya L. Gupta

Inflation and the asymmetric effects of money on output fluctuations pp. 683-702

Wooheon Rhee and Robert Rich

Vintage capital accumulation: Endogenous growth conditions pp. 703-716

Luiz de Mello

Deflating the productivity norm pp. 717-732

Kevin Dowd

The case for a "productivity norm": Comment on Dowd pp. 733-740

George Selgin

Volume 17, issue 3, 1995

Ignorance may be optimal? Some welfare implications of rational versus non-rational expectations pp. 377-386

James Holmes, Michael R. Dowd and David C. Black

The liquidity effect: Identifying short-run interest rate dynamics using long-run restrictions pp. 387-404

William Lastrapes and George Selgin

On equilibrium credit rationing and interest rates pp. 405-420

Jo Gray and Ying Wu

A simple economy with human capital: Transitional dynamics, technology shocks, and fiscal policies pp. 421-446

Miquel Faig

Intertemporal substitution in war and peace: Evidence from the United Kingdom, 1830-1990 pp. 447-469

Hendrik van Dalen

Consumption, external assets and the real interest rate pp. 471-494

Glenn Otto and Graham Voss

Inflation and the real price of equities: Theory with some empirical evidence pp. 495-514

Marcelo Bianconi

Inflation, reserve requirements, and real interest rates with direct and indirect loan markets pp. 515-531

George Davis and Mark Toma

Inflation, human capital accumulation and long-run growth pp. 533-542

Paul Pecorino

Volume 17, issue 2, 1995

Capital complementarity, time-to-build, and the persistence of investment starts pp. 187-205

Michael R. Montgomery

Inflation and money growth under the international gold standard, 1850-1913 pp. 207-226

Lee Craig, Douglas Fisher and Theresa A. Spencer

Do shifts in federal reserve policy regimes explain interest rate anomalies? pp. 227-240

Edward N. Gamber and David R. Hakes

Trends versus cycles: Asymmetric preferences and heterogeneous individual responses pp. 241-255

James Pemberton

Price cyclicality in the natural rate-nominal demand shock model pp. 257-272

Thomas Hall

The Sung and Ming paper monies: Currency competition and currency bubbles pp. 273-288

Chau-Nan Chen, Pin-Tsun Chang and Shikuan Chen

Can fiscal spending be contractionary when interest rates have supply-side effects? pp. 289-301

Anthony Myatt and William M. Scarth

The effect of macroeconomic variables on economic growth rates: A cross-country study pp. 303-317

Charles B. Garrison and Feng-Yao Lee

Equilibrium policy with dynamically naive agents pp. 319-331

Michael Loewy

The Fisher effect: Reprise pp. 333-346

Rolando F. Pelaez

A Markov switching model for the Hungarian price stabilization plan of 1924 pp. 347-355

Selahattin Imrohoroglu

Monetary policy as a decision-making hierarchy: The case of Taiwan pp. 357-368

Chung-Hua Shen and david R. Hakes

Volume 17, issue 1, 1995

Public and private investment: Are there causal linkages? pp. 1-30

S. J. Erenburg and Mark Wohar

Growth with imported capital goods, limited export demand and foreign debt pp. 31-53

Thomas Ziesemer

A cross-industry examination of the Lucas misperceptions model pp. 55-76

Magda Kandil and Jeffrey G. Woods

High inflation rates and the long-run money demand function: Evidence from cointegration tests pp. 77-91

Taufiq Choudhry

Optimal seigniorage versus interest rate smoothing pp. 111-129

Richard T. Froyen and Roger Waud

Testing aggregate neutrality with heterogeneous sectors pp. 131-148

Stuart Landon

A statistical note on possible institutional regimes in budget policy pp. 149-160

Wm. Mounts and Clifford Sowell

Credibility effects of price controls in disinflation programs pp. 161-171

Pierre-Richard Agénor

Volume 16, issue 4, 1994

An aggregate model of the Canadian labor market pp. 589-611

Manfred W. Keil and James S. V. Symons

Liquidity and business investment: Evidence from dutch panel data pp. 613-627

Hans Van Ees and Harry Garretsen

Stock market interdependencies: Evidence from the asian NIEs pp. 629-651

Abdur Chowdhury

Forecast smoothing and the optimal under-utilization of information at the federal reserve pp. 653-670

Carol Scotese

Modeling changes in monetary policy regimes pp. 671-682

Raymond E. Lombra

Sterilization, ricardian equivalence and structural and reduced-form estimates of the offset coefficient pp. 683-699

Kit Pasula

Unemployment rates in postbellum America: 1869-1899 pp. 701-714

J. R. Vernon

Public investment criterion with distorted capital markets in an overlapping generations economy pp. 715-728

Akira Yakita

The term structure of interest rates within a production economy: A parametric example pp. 729-734

Kevin Salyer

Volume 16, issue 3, 1994

Transactions cost and durable consumption: A general-equilibrium approach pp. 383-402

Sheng Cheng Hu

Purchasing power parity in high-inflation countries: further evidence pp. 403-422

Saeid Mahdavi and Su Zhou

On the dynamic behavior of Schinasi's business cycle model pp. 423-444

Kazuyuki Sasakura

Comparing U.S. GNP volatility across exchange rate regimes: An application of spahe cracking pp. 445-459

Steven Cunningham and Jon Vilasuso

Does the federal reserve create political monetary cycles? pp. 461-477

Willie Belton and Richard Cebula

Symmetric information implicit contracts when both the labor pool and capital stock are endogenous pp. 479-491

Christopher J Ellis and Van Kolpin

Human capital and income taxation in an endogenous growth model pp. 493-507

Shawn Ni and X. Wang

Stock market data, vacancies and sectoral dispersion pp. 509-521

Jay Zagorsky

Monetary policy, fiscal policy and intervention in a model of exchange-rate and aggregate-demand dynamics pp. 523-537

Fidelina Natividad-Carlos

An expository model of credit rationing pp. 539-545

Christopher Waller and Stephen Lewarne

Business cycle sources and price level-output correlation pp. 547-551

Douglas W. Mitchell

Partisan profiles in presidential policies: An extension of "presidential preferences for inflation versus unemployment" pp. 553-558

Jan C. Siebrand and Otto Swank

Partisan profiles in presidential policies: A reply to a partisan proponent pp. 559-562

Peter A. Zaleski

Volume 16, issue 2, 1994

Accounting for the great depression: A historical decomposition pp. 193-220

James S. Fackler and Randall E. Parker

Entry barriers and price movements between major and emerging stock markets pp. 221-241

John Rogers

Capital utilization and investment when capital depreciates in use: some implications and tests pp. 243-259

Paul Johnson

Inflation and growth pp. 261-270

David J. Smyth

Is government capital productive? Evidence from a panel of seven countries pp. 271-279

Paul Evans and Georgios Karras

Rates of return and the supply of government assets pp. 281-293

James Dow

Taxation, growth and competitiveness in a two-country mode pp. 295-311

Paul Pecorino

Real national price levels: An empirical reassessment pp. 313-327

Arna Desser

Testing the long-run implications of the neoclassical growth model for Canada pp. 329-346

Apostolos Serletis

Short-run analysis of fiscal policy and the current account in a finite horizon model pp. 347-357

Heng-Fu Zou

Testing for exchange rate bubbles using variance inequalities pp. 359-367

Sarantis Kalyvitis and Nikitas Pittis

A note on the unbiasedness test of rationality using survey data pp. 369-374

Michael McAleer and Jeremy Smith

Volume 16, issue 1, 1994

Sources of macroeconomic fluctuations in small open economies pp. 1-36

Shaghil Ahmed and Jae Ha Park

Nominal debt, default costs, and output pp. 37-54

Philip Jefferson

The impact of government deficits when credit markets are imperfect: Evidence from the interwar period pp. 55-76

Prosper Raynold

The algebra of price stability pp. 77-97

Nathan Balke and Kenneth M. Emery

Asset and currency prices in an exchange economy with transactions costs pp. 99-107

Spiros Bougheas

Aggregation over products and the speed of adjustment in inventory models pp. 109-128

David Bivin

A simple keynesian model with flexible wages: A succinct synthesis pp. 129-156

Paul Wolfson

Rational expectations, saving and anticipated changes in income: Evidence from Malaysia and Singapore pp. 157-170

Wee-Beng Gan and Lee-Ying Soon