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 7, issue 3, 1981

The square-root law, uncertainty and international reserves under alternative regimes: Canadian experience, 1950-1976 pp. 271-290

Nasser Saidi

Central bank behavior: A positive empirical analysis pp. 291-315

Bruno Frey and Friedrich Schneider

Keynesian and monetarist theories of the monetary transmission process: Doctrinal aspects pp. 317-337

George Tavlas

Sticky nominal wages and the optimal employment rule pp. 339-353

Douglas G. Waldo

Job search, unemployment and savings pp. 355-370

Yannis Ioannides

A note on the neutrality of temporary monetary disturbances pp. 371-385

Marvin Goodfriend and Robert King

Testing an hypothesis of institutional change: Welfare work registration, aggregate demand, and the unemployment rate pp. 387-393

Richard Devens

The `New Cambridge' aggregate expenditure function: The emperor's old clothes? pp. 395-402

K. Alec Chrystal

Implicit interest on demand deposits: Reply pp. 403-404

Richard Startz

Volume 7, issue 2, 1981

A new approach to decomposition of economic time series into permanent and transitory components with particular attention to measurement of the `business cycle' pp. 151-174

Stephen Beveridge and Charles Nelson

Optimal inflation policy pp. 175-194

Lawrence H. Summers

Monetary information and monetary neutrality pp. 195-206

Robert King

Real money balances as a productive input: Further evidence pp. 207-225

Evangelos O. Simos

Permanent income in the consumption and the demand for money functions pp. 227-238

Ulrich R. Kohli

The Lucas hypothesis on the Phillips Curve: Further international evidence pp. 239-250

Jose Alberro

Testing the Friedman-Phelps natural rate hypothesis using survey data: An instrumental variable approach pp. 251-259

T. Windsor Fields and Nicholas Noble

Inflation and taxation: Nominal and real rates of return pp. 261-270

Niels Christian Nielsen

Volume 7, issue 1, 1981

An empirical structural model of aggregate demand pp. 1-28

Olivier Blanchard and Charles Wyplosz

Monetary policy and long-term interest rates: An efficient markets approach pp. 29-55

Frederic Mishkin

Static deviations from purchasing-power parity pp. 57-68

Jurg Niehans

Demand for money in open economies pp. 69-83

Sebastian Arango and M. Ishaq Nadiri

Autoregressive modelling and money-income causality detection pp. 85-106

Cheng Hsiao

Banks borrowing from the central bank and reserve position doctrine: Belgium 1960-1973 pp. 107-124

Herwig Langohr

More on bank behavior: Reply to Van Loo pp. 125-128

Benjamin M. Friedman and Kenneth C. Froewiss

Time deposits in the Brunner-Meltzer model of asset markets pp. 129-139

Karl Brunner and Allan Meltzer

Deficits, money and inflation pp. 141-150

Michael J. Hamburger and Burton Zwick

Volume 6, issue 4, 1980

Survey evidence on the `rationality' of interest rate expectations pp. 453-465

Benjamin M. Friedman

Stagflation, persistent unemployment and the permanence of economic shocks pp. 467-492

Karl Brunner, Alex Cukierman and Allan Meltzer

The wage-push hypothesis: The Italian case pp. 493-507

Franco Spinelli

The integration of the offshore and domestic banking system pp. 509-526

Robert Z. Aliber

Money, autonomous expenditures, income, and causality in Korea pp. 527-534

H. Sonmez Atesoglu and John A. Tillman

Money, interest, inflation and growth in Turkey pp. 535-545

Maxwell J. Fry

A note on the government budget restraint pp. 547-560

Darrel Cohen and Frank de Leeuw

Non-bank public and commercial bank portfolio behavior in the Brunner-Meltzer model: A review and clarification pp. 561-572

Stephen Miller

Expected income in the demand for money: An `unobservable variable' analysis pp. 573-586

C. L. F. Attfield

Rational expectations and economic policy: Stanley Fischer, ed., (University of Chicago Press, Chicago, 1980) pp. ix+293, $22.00 pp. 587-589

Geoffrey Woglom

The disequilibrium model in a controlled economy: David H. Howard, (Lexington Books, D.C. Heath and Company, Lexington, MA. 1979) pp. xi+112. $14.00 pp. 590-590

Donald W. Green

Volume 6, issue 3, 1980

Inflation, tax rules and the stock market pp. 309-331

Martin Feldstein

On the theory of financial contracting: The personal loan market pp. 333-357

Clifford Smith

Unanticipated money, output, and prices in the small economy pp. 359-384

W. Michael Cox

Perfect substitution in models of the CD market pp. 385-399

Arthur J. Rolnick

On the consistent specification of asset markets in macroeconomic models pp. 401-415

Thomas S. McCaleb and Gordon Sellon

The precautionary demand for money: A rigorous foundation pp. 419-432

Yakir Plessner and Joseph Reid

A pitfall in estimation of models with rational expectations pp. 433-435

Robert Flood and Peter Garber

Comment and further evidence on `implicit interest on demand deposits' pp. 437-451

Mark Rush

Volume 6, issue 2, 1980

The effects of wage indexation on macroeconomic fluctuations: A generalization pp. 147-170

Alex Cukierman

The CBO's policy analysis: An unquestionable misuse of a questionable theory pp. 171-198

Preston J. Miller and Arthur J. Rolnick

Politics and Fed policymaking: The more things change the more they remain the same pp. 199-211

Edward Kane

Dynamic effects of government policies in an open economy pp. 213-239

Robert J. Hodrick

Labor contracts and monetary policy pp. 241-255

Matthew Canzoneri

Money stock revisions and unanticipated money growth pp. 257-267

Robert Barro and Zvi Hercowitz

The `peso problem' in testing the efficiency of forward exchange markets pp. 269-276

William S. Krasker

Monetary rules and the nominal rate of interest under uncertainty pp. 277-288

Frederick L. A. Grauer and Robert H. Litzenberger

Stein's `inflation, employment and stagflation': A comment pp. 289-293

Diane C. Zannoni and Edward J. McKenna

International reserves under pegged exchange rates and managed float: Corrections and extensions pp. 295-302

Jacob A. Frenkel

Monetary policy and economic activity: S.F. Frowen, A.S. Courakis and M.H. Miller, eds., West Germany (Surrey University Press, London, 1977) pp. xviii + 268, [UK pound]15.00 pp. 303-305

Peter B. Clark

The theory of money: Jurg Niehans (The Johns Hopkins University Press, Baltimore and London, 1978) pp. xi + 312, $17.95 pp. 305-307

Peter Howitt

Volume 6, issue 1, 1980

Alternative approaches to the theory of the banking firm pp. 1-37

Ernst Baltensperger

Banking in the theory of finance pp. 39-57

Eugene F. Fama

Unemployment and monetary policy under rational expectations: Some Canadian evidence pp. 59-68

Gillian Wogin

Macroeconometric testing of the rational expectations and structural neutrality hypotheses for the United States pp. 69-82

Leonardo Leiderman

The demand for money in the Italian economy: 1867-1965 pp. 83-104

Franco Spinelli

The tax/subsidy relation between member banks and the federal reserve system pp. 105-119

Joanna Hayward Frodin

Irrepressible monetarist conclusions from a non-monetarist model pp. 121-127

Paul McNelis

Time deposit supply in the Brunner-Meltzer model pp. 129-139

Peter D. Van Loo

The econometrics of Phillips-curve estimation: A note on the Laidler-Rasche debate pp. 141-146

Werner Inderbitzin and M. Jetzer