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 10, issue 3, 1982

Introduction pp. 285-285

Karl Brunner

The political ambiguity of Reagan economics: Marginal adjustment or structural shift? pp. 287-296

James Buchanan

The 1982 economic report of the president: The annual report of the council of economic advisers pp. 297-308

James Tobin

Tests of equilibrium macroeconomics using contemporaneous monetary data pp. 309-333

John F. Boschen and Herschel Grossman

Interest rates and currency prices in a two-country world pp. 335-359

Robert Lucas

Marginal federal personal and corporate income tax rates in the U.S., 1909-1975 pp. 361-381

John J. Seater

Commercial bank behavior and monetary policy in an open economy: West Germany 1960-1980 pp. 383-405

Rudolf Richter and Ronald L. Teigen

R/S analysis of foreign exchange rates under two international monetary regimes pp. 407-415

G. Geoffrey Booth, Fred R. Kaen and Peter E. Koveos

Hall's consumption hypothesis and durable goods pp. 417-425

N. Gregory Mankiw

Volume 10, issue 2, 1982

Trends and random walks in macroeconmic time series: Some evidence and implications pp. 139-162

Charles Nelson and Charles Plosser

Inflationary bias of the Federal Reserve System: A bureaucratic perspective pp. 163-190

Mark Toma

Government intervention in the mortgage market: A study of anti-redlining regulations pp. 191-213

Ronald Masulis

The short-run volatility of money stock targeting pp. 215-237

Peter Tinsley, Peter von zur Muehlen and G. Fries

Monetary randomness and investment pp. 239-258

Mark Gertler and Earl Grinols

A case study of Federal Reserve policymaking: Regulation Q in 1966 pp. 259-271

Thomas Mayer

Deficits, money and inflation: Comment pp. 273-277

W. McMillin and Thomas R. Beard

Deficits, money and inflation: Reply pp. 279-283

Michael J. Hamburger and Burton Zwick

Volume 10, issue 1, 1982

The timing of monetary and price changes and the international transmission of inflation pp. 1-23

Anthony Cassese and James Lothian

Money and price dispersion in the united states pp. 25-37

Zvi Hercowitz

Liquidity creation and maturity transformation in the Eurodollar market pp. 39-72

J. Orlin Grabbe

The supply and use of central bank advance facilities pp. 89-100

Roberto E. Wessels

Rational expectations and the role of countercyclical monetary policy pp. 101-109

Douglas G. Waldo

Monetarism and the US economy: A re-evaluation of Stein's model 1960-1973 pp. 111-125

Meghnad Desai and David Blake

Monetarism and the US economy: Reply pp. 127-132

Jerome L. Stein

John H. Kareken and Neil Wallace, Editors, Models of Monetary Economies, Federal Reserve Bank of Minneapolis, Oxford (1980), p. vii + 313 pp. 133-134

Jurg Niehans

$13.00.James Tobin, Asset Accumulation and Economic Activity: Reflections on Contemporary Macroeconomic Theory, The University of Chicago Press, Minneapolis (1980), p. xv + 99 pp. 134-138

Herschel Grossman

Volume 9, issue 3, 1982

Instrumental variables procedures for estimating linear rational expectations models pp. 263-296

Lars Peter Hansen and Thomas Sargent

Inflation, real returns and capital investment pp. 297-323

Eugene F. Fama and Michael R. Gibbons

Government financing decisions and asset returns pp. 325-352

Charles Plosser

Dynamic effects of permanent and temporary tax policies in a q model of investment pp. 353-373

Andrew Abel

Welfare loss, redistribution effect, and restriction of output due to monopoly in banking pp. 375-387

Stephen A. Rhoades

The semi-log portfolio balance schedule is tenuous pp. 389-399

Geoffrey Kingston

Volume 9, issue 2, 1982

Relative price variability, inflation and the allocative efficiency of the price system pp. 131-162

Alex Cukierman

The output-inflation relationship: An inventory-adjustment approach pp. 163-184

Yakov Amihud and Haim Mendelson

The dynamic adjustment path for perfectly foreseen changes in monetary policy pp. 185-201

Russell S. Buyer and Robert J. Hodrick

Heterogeneous expectations and the demand for money and financial assets in an exchange economy pp. 203-222

Richard Castanias

Interest rate effects and intertemporal consumption pp. 223-234

Gerald Carlino

An investigation of the effect of monetary factors on agriculture pp. 235-247

Robert Chambers and Richard Just

Demand and supply functions for money in Canada: Some further evidence pp. 249-261

Dinesh K. Marothia and William E. Phillips

Volume 9, issue 1, 1982

Government deficits and aggregate demand pp. 1-20

Martin Feldstein

The British banking system's demand for cash reserves pp. 21-41

David H. Howard

An alternate method of estimating the Cagan money demand function in hyperinflation under rational expectations pp. 43-57

Marvin Goodfriend

Asset substitutability and monetary policy: An alternative characterization pp. 59-71

Carl Walsh

Market power and firm risk: A test of the `quiet life' hypothesis pp. 73-85

Stephen A. Rhoades and Roger D. Rutz

The capitalization of income streams and the effects of open-market policy under fixed exchange rates pp. 87-98

Maurice Obstfeld

Rational expectations and the effectiveness of monetary policy with special reference to the Barro-Fischer model pp. 99-107

Kazumi Asako

Bank holding company affiliation and market share performance pp. 109-119

John T. Rose

Bank credit rationing and the customer relation pp. 121-129

Norman R. Blackwell and Anthony M. Santomero

Volume 8, issue 3, 1981

Inventories, rational expectations, and the business cycle pp. 277-304

Alan Blinder and Stanley Fischer

On forecasting interest rates: An efficient markets perspective pp. 305-318

James Pesando

Price level determinacy with an interest rate policy rule and rational expectations pp. 319-329

Bennett McCallum

A quarterly model of unanticipated monetary growth, output and the price level in the U.K. 1963-1978 pp. 331-350

C. L. F. Attfield, D. Demery and N. W. Duck

Factors affecting monetary policy in an era of inflation pp. 351-373

Mickey D. Levy

Money and its substitutes pp. 375-386

James M. Boughton

Anticipated inflation and the capital stock in a cash in-advance economy pp. 387-393

Alan C. Stockman

A simplified portfolio analysis of the long-run demand for money in Australia pp. 395-404

Ben F. Hunt and Paul A. Volker

Volume 8, issue 2, 1981

Financial intermediaries and monetary control: An example pp. 145-163

John H. Wood

Wage inflation, expectations and indexation pp. 165-182

Jouko Paunio and Antti Suvanto

The role of money supply shocks in the short-run demand for money pp. 183-199

Jack Carr and Michael Darby

The demand for money in EEC countries pp. 201-230

Frank Den Butter and Martin M.G. Fase

The Federal Home Loan Bank system: Cause or cure for disintermediation? pp. 231-246

James R. Ostas

Inflation and capital accumulation under a finite horizon pp. 247-260

Allan Drazen

Government revenue from monopoly supply of currency and deposits pp. 261-270

Maxwell J. Fry

Some macroeconomic effects of income tax indexation pp. 271-275

Neil Bruce

Volume 8, issue 1, 1981

The 1971-1974 controls program and the price level: An econometric post-mortem pp. 1-23

Alan Blinder and William J. Newton

Is there a real-balance effect in equilibrium? pp. 25-39

Stanley Fischer

The term structure of the forward premium pp. 41-58

Craig S. Hakkio

Are expectations of inflation rational? or Is variation of the expected real interest rate unpredictable? pp. 59-84

Gerald Dwyer

The market value of outstanding government debt, 1919-1975 pp. 85-101

John J. Seater

Misintermediation and macroeconomic fluctuations pp. 103-115

J. Huston McCulloch

Stocks, flows, and market equilibrium in neoclassical monetary growth models pp. 117-129

Sheetal Chand

Macroeconomic implications for tax indexing in the McCallum-Whitaker framework pp. 131-137

Thomas M. Supel

Macroeconomic theory: Thomas J. Sargent, (Academic Press, New York, 1979) pp. xiii+404, $24.50 pp. 139-142

John Taylor

Bankruptcy risk in financial depository intermediaries: Michael F. Koehn, (D.C. Heath and Company, Lexington, Massachusetts, 1979) pp. xi+156, $19.95 pp. 142-144

David H. Pyle