Journal of Monetary Economics

1975 - 2025

Continuation of Carnegie-Rochester Conference Series on Public Policy.

Current editor(s): R. G. King and C. I. Plosser

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Volume 27, issue 3, 1991

Asset returns with transactions costs and uninsured individual risk pp. 311-331

S. Aiyagari and Mark Gertler

Budget balance through revenue or spending adjustments?: Some historical evidence for the United States pp. 333-359

Henning Bohn

The effects of real and nominal shocks on union-firm contract duration pp. 361-380

Frederick Wallace and Herminio Blanco

The causal direction between money and prices: An alternative approach pp. 381-423

Kevin D. Hoover

Government deficits and the term structure of interest rates pp. 425-443

Bong-Soo Lee

The monetary economics of Lauchlin Currie pp. 445-461

Frank G. Steindl

Volatility tests and efficient markets: A review essay pp. 463-485

John Cochrane

Foundations of the cash-in-advance model: A review essay pp. 487-493

Deborah Lucas

Volume 27, issue 2, 1991

Tax analysis in a real-business-cycle model: On measuring Harberger triangles and Okun gaps pp. 167-190

Jeremy Greenwood and Gregory W. Huffman

Nominal exchange rate regimes and the real exchange rate: Evidence from the United States and Great Britain, 1885-1986 pp. 191-212

Vittorio Grilli and Graciela Kaminsky

Poincare's stabilization: Stopping a run on government debt pp. 213-239

Alessandro Prati

Time to build and aggregate fluctuations: A reconsideration pp. 241-254

K. Rouwenhorst

New estimates of intertemporal substitution: The effect of corner solutions for year-round workers pp. 255-269

Richard Rogerson and Peter Rupert

Research and imitation in long-run growth pp. 271-292

Aldo Rustichini and James Schmilz

The role of economic history in economic research: A review essay pp. 293-299

Jeffrey Miron

International instability and debt between the wars: A review essay pp. 301-308

Peter Temin

Volume 27, issue 1, 1991

Testing the long-run implications of the neoclassical growth model pp. 3-37

Klaus Neusser

Asset returns and intertemporal preferences pp. 39-71

Shmuel Kandel and Robert F. Stambaugh

Liquidity constraints and the permanent-income hypothesis: Evidence from panel data pp. 73-98

David E. Runkle

Optimal accommodation by strong policymakers under incomplete information pp. 99-127

Alex Cukierman and Nissan Liviatan

Equilibria under 'active' and 'passive' monetary and fiscal policies pp. 129-147

Eric Leeper

Testing the positive theory of government finance vol. 26, no. 1, August 1990, pp. 123-141 pp. 149-149

David S. Bizer and Steven Durlauf

Open economy macroeconomics: A review essay pp. 151-156

Polly Reynolds Allen

The demise of the public-interest model of the Federal Reserve System: A review essay pp. 157-163

Mark Toma

Volume 26, issue 3, 1990

Monetary regime changes and the behavior of ex ante real interest rates: a multi-country study: A multi-country study pp. 329-359

Catherine Bonser-Neal

Banking and insurance pp. 361-386

Joseph G. Haubrich and Robert King

'First-order' risk aversion and the equity premium puzzle pp. 387-407

Larry Epstein and Stanley Zin

The Hamilton model with a general autoregressive component: estimation and comparison with other models of economic time series: Estimation and comparison with other models of economic time series pp. 409-432

Pok-sang Lam

Finite horizons, life-cycle savings, and time-series evidence on consumption pp. 433-452

Jordi Galí

Precise and efficient computation of the Beveridge-Nelson decomposition of economic time series pp. 453-457

Paul Newbold

Insiders and outsiders: A review essay pp. 459-469

Laurence Ball

Economists' perspectives on the EMS: A review essay pp. 471-487

Charles Goodhart

Monetary lessons from Canada: a review essay: A review essay pp. 489-499

Angela Redish

Volume 26, issue 2, 1990

On different interpretations of the General Theory pp. 205-243

Don Patinkin

North-South lending and endogenous domestic capital market inefficiencies pp. 245-266

Mark Gertler and Kenneth Rogoff

Time-series implications of Friedman's Permanent Income Hypothesis pp. 267-283

Barry Falk and Bong-Soo Lee

On tests of representative consumer asset pricing models pp. 285-304

Narayana Kocherlakota

The dynamics of credit markets in a model with learning pp. 305-318

William Lang and Leonard Nakamura

Monetary imperfection, regulation, and discretion: A review essay pp. 319-325

A. Patrick Minford

Volume 26, issue 1, 1990

Could a monetary base rule have prevented the great depression? pp. 3-26

Bennett McCallum

Moral hazard, imperfect risk-sharing, and the behavior of asset returns pp. 27-44

James Kahn

Intertemporal dependence, impatience, and dynamics pp. 45-75

Maurice Obstfeld

The effect of Continental Illinois' failure on the financial performance of other banks pp. 77-99

Larry Wall and David R. Peterson

Stock volatility and margin trading pp. 101-121

Paul J. Seguin

Testing the positive theory of government finance pp. 123-141

David S. Bizer and Steven Durlauf

A liquidity-in-advance model of the demand for money under price uncertainty pp. 143-159

Bruce Mizrach and Anthony M. Santomero

Risk versus return in the substitutability of debt and equity securities pp. 161-178

Varouj Aivazian, Jeffrey L. Callen, Itzhak Krinsky and Clarence C. Y. Kwan

Keynes revived: A review essay pp. 179-190

Marcello de Cecco

Competitive monetary reform: A review essay pp. 191-202

Lawrence White

Volume 25, issue 3, 1990

Heterogeneous creditors and the market value of bank LDC loan portfolios pp. 325-346

Christopher James

International coordination of fiscal deficits pp. 347-366

Roberto Chang

Stock market dispersion and unemployment pp. 367-388

Prakash Loungani, Mark Rush and William Tave

The optimal inflation path in a Sidrauski-type model with uncertainty pp. 389-409

Wouter J. Den Haan

Sustainable balance of trade deficits pp. 411-430

Eric Fisher

Intertemporal asset-pricing relationships in barter and monetary economies An empirical analysis pp. 431-451

Mary G. Finn, Dennis L. Hoffman and Don E. Schlagenhauf

Identifying VAR models under rational expectations pp. 453-476

John Keating

The New Palgrave: Finance: A book review pp. 477-480

Darrell Duffie

Hicks and the classics: A review essay pp. 481-489

David Laidler

Volume 25, issue 2, 1990

Equilibrium models displaying endogenous fluctuations and chaos: A survey pp. 189-222

Michele Boldrin and Michael Woodford

Nonmonetary effects of financial crises: Lessons from the great depression in Canada pp. 223-252

Joseph G. Haubrich

Money stock targeting, base drift, and price-level predictability: Lessons from the U.K. Experience pp. 253-272

Michael Bordo, Ehsan Choudhri and Anna J. Schwartz

Administering the window: A game-theoretic model of discount-window borrowing pp. 273-287

Christopher Waller

Additions to bank loan-loss reserves: Good news or bad news? pp. 289-304

Theoharry Grammatikos and Anthony Saunders

Facets of interwar unemployment: A review essay pp. 305-311

J. Bradford De Long

One money for Europe?: A review essay pp. 313-322

Geoffrey E. Wood

Volume 25, issue 1, 1990

The market valuation effects of reserve regulation pp. 3-19

Myron B. Slovin, Marie E. Sushka and Yvette M. Bendeck

Collateral, loan quality and bank risk pp. 21-42

Allen Berger and Gregory Udell

On the 'discount' factor in growth economies pp. 43-47

Narayana Kocherlakota

Leverage, time preference and the 'equity premium puzzle' pp. 49-58

Simon Benninga and Aris Protopapadakis

Term-structure forecasts of interest rates, inflation and real returns pp. 59-76

Eugene Fama

What does the term structure tell us about future inflation? pp. 77-95

Frederic Mishkin

Seigniorage and tax smoothing in the United States 1914-1986 pp. 97-112

Bharat Trehan and Carl Walsh

Consumption puzzles and precautionary savings pp. 113-136

Ricardo Caballero

Sunspot equilibria (rational bubbles) in a model of money-in-the-utility-function pp. 137-144

Kiminori Matsuyama

A test of a Keynesian alternative to Hercowitz's aggregate supply theory pp. 145-150

John McCallum

Time-to-produce or a Keynesian is curve?: Reply to John McCallum pp. 151-153

Zvi Hercowitz

Modeling international interdependence: A review essay pp. 155-164

Paolo Onofri

Central banks' independence in historical perspective: A review essay pp. 165-176

Robert L. Hetzel

The new Palgrave money: A review essay pp. 177-183

Alvin L. Marty