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 5, issue 4, 1979

Knut wicksell's norm of price stabilization and Swedish monetary policy in the 1930's pp. 459-496

Lars Jonung

Money and biased technical progress pp. 497-504

Ganti Subrahmanyam and Thomas Cosimano

Output, employment and inventories under general excess supply pp. 505-514

Ajit K. Chaudhury

Implicit interest on demand deposits pp. 515-534

Richard Startz

On the deflationary effect of government's indexed bonds pp. 535-550

Nissan Liviatan and David Levhari

An economic model of the market for negotiable certificates of deposit pp. 551-568

Myron B. Slovin and Marie Elizabeth Sushka

Stochastic reserve changes and expansion of bank credit: The case of additional risks pp. 569-584

Taeho Kim

The role of wealth in the money demand function: A comment pp. 585-591

Antonio Barbosa

Adaptive expectations, rational expectations, and money demand in hyperinflation Germany pp. 593-604

Michael K. Salemi

Volume 5, issue 3, 1979

Predicting the money multiplier pp. 301-325

James M. Johannes and Robert Rasche

A multiplier model for controlling the money stock pp. 327-341

H. -J. Buttler, J. -F. Gorgerat, H. Schiltknecht and K. Schiltknecht

The role of transaction costs and rates of return on the demand deposit decision pp. 343-364

Anthony M. Santomero

Interest rate variability, government securities dealers, and the stability of financial markets pp. 365-372

Burton Zwick

The joint economic committee of the U.S. congress: A symposium pp. 373-373

Karl Brunner

The economic policy proposals of the joint economic committee of the 94th and 95th U.S. congresses, 1975 through September of 1978 pp. 375-395

Carl Christ

Recent macroeconomic policy proposals of the joint economic committee of the U.S. congress: A critique pp. 397-412

David Laidler

The joint economic committee on international economic issues: A review article pp. 413-428

Thomas D. Willett

The annual report of the bank for international settlements: A symposium pp. 429-429

Karl Brunner

The 1978 annual report of the bank for international settlements: An examination of its economic analysis and policy recommendations pp. 431-442

Ernst Baltensperger

The 1978 annual report of the bank for international settlements: The economics of international fine tuning pp. 443-457

Paul De Grauwe

Volume 5, issue 2, 1979

A theory of the natural unemployment rate and the duration of employment pp. 153-169

Robert E. Hall

The effectiveness of fiscal feedback rules and automatic stabilizers under rational expectations pp. 171-186

Bennett McCallum and J. K. Whitaker

Price and output adjustment: Micro foundations and aggregation pp. 187-211

Michael Bruno

Rational expectations and the role of monetary policy: A generalization pp. 213-229

Alex Cukierman

The optimal rate of inflation revisited pp. 231-248

Allan Drazen

Outside wealth, the demand for money and the crowding out effect pp. 249-258

James Butkiewicz

Expectations and the asset-market approach to the exchange rate pp. 259-282

Wilfred Ethier

Stochastic reserve losses and bank credit expansion pp. 283-294

Ronald Ratti

Sterilization and the monetary approach to balance of payments analysis pp. 295-300

Russel S. Boyer

Volume 5, issue 1, 1979

The payment system and domestic exchange rates: Technological versus institutional change pp. 1-22

Kenneth Garbade and William L. Silber

Optimal expectations and the extreme information assumptions of `rational expectations' macromodels pp. 23-41

Benjamin M. Friedman

Clark Warburton: Pioneer monetarist pp. 43-65

Michael Bordo and Anna J. Schwartz

Rational expectations forecasts from nonrational models pp. 67-80

Paul A. Anderson

Further evidence on expectations and the demand for money during the German hyperinflation pp. 81-96

Jacob A. Frenkel

Money demand during hyperinflation pp. 97-104

Andrew Abel, Rüdiger Dornbusch, John Huizinga and Alan Marcus

Are the lags in the effects of monetary policy variable? pp. 105-121

J. Ernest Tanner

Adaptive-regressive expectations and the price level: A reformulation pp. 123-132

Leonardo Auernheimer

A note on maximum likelihood estimation of the rational expectations model of the term structure pp. 133-143

Thomas Sargent

Within and between-country variances in inflation rates: Are they similar? pp. 145-152

Robert Lawrence

Volume 4, issue 4, 1978

Money, income, and sunspots: Measuring economic relationships and the effects of differencing pp. 637-660

Charles Plosser and Schwert*, G. William

Risk shifting, layoffs, and seniority pp. 661-686

Herschel Grossman

Utility maximization, aggregate labor force behavior, and the Phillips curve pp. 687-713

John J. Seater

Costs of reserves and the relative size of member and nonmember bank demand deposits pp. 715-733

Carl M. Gambs and Robert Rasche

On the nature and the role of investment function in macroeconomic theory pp. 735-742

Edi Karni

The effects of relative price changes on the household's demand for money pp. 743-753

Andrew J. Policano and Eun Choi

Time variation in the relationship between inflation and interest rates pp. 755-765

Kenneth Garbade and Paul Wachtel

Black-market exchange-rate expectations and the domestic demand for money: Some empirical results pp. 767-773

Mario I. Blejer

Recent developments in monetary theory: Erratum pp. 775-775

Robert Barro and Stanley Fischer

Volume 4, issue 3, 1978

Seasonality and portfolio balance under rational expectations pp. 435-458

Rusdu Saracoglu and Thomas Sargent

Portfolio analysis of asset and liability management in small-, medium- and large-sized banks pp. 459-480

Jack Clark Francis

On market dynamics for a durable good, with and without a financing constraint pp. 481-501

Roger J. Bowden

Optimal seigniorage from money creation: An analysis in terms of the optimum balance of payments deficit problem pp. 503-517

Guillermo Calvo

The impact of monetary and fiscal policies on the French financial system pp. 519-541

Andre Fourcans

Congressional oversight of monetary policy pp. 543-556

Steven M. Roberts

Bank credit, money and inflation in open economics: Michele Frattianni and Karel Tavernier, eds., supplement to kredit und kapital heft 3 (Duncker & Humblot, Berlin, 1976) 624, DM 78 pp. 557-559

Robert Flood

Understanding capital markets, volume II: The financial environment and the flow of funds in the next decade: Arnold W. Sametz and Paul Wachtel, eds., (Lexington Books, Lexington, MA, 1977) pp. vii + 337, $20.00 pp. 560-566

Gary Smith

Understanding capital markets, volume I: A flow of funds financial model: Patric H. Hendershott, (Lexington Books, Lexington, MA, 1977) pp. xxii + 367, $27.50 pp. 560-560

Gary Smith

Keynesian policies, the drift into permanent deficits and the growth of government: A symposium pp. 567-567

Karl Brunner

Comment from an unreconstructed Ricardian pp. 569-581

Robert Barro

Debts, Keynes, and our present discontents pp. 583-589

Donald F. Gordon

Deficits, government spending, and inflation: What is the evidence? pp. 591-602

William A. Niskanen

Idealism in public choice theory pp. 603-615

Paul Craig Roberts

Comment from academic scribbler pp. 617-625

James Tobin

Dialogues concerning fiscal religion pp. 627-636

James Buchanan and Richard Wagner

Volume 4, issue 2, 1978

Money and money income: An essay on the `transmission mechanism' pp. 151-191

David Laidler

Inflation, employment and stagflation pp. 193-228

Jerome L. Stein

The stochastic properties of velocity and the quantity theory of money pp. 229-248

J. P. Gould, Merton Miller, Charles Nelson and Charles Upton

A macroeconomic model with asset equilibrium for an open economy pp. 249-262

Johan Myhrman

Portfolio choice and flexibility: The precautionary motive pp. 263-279

Steven Goldman

The incidence of excess interest costs paid by municipalities in the competitive sale of bonds pp. 281-296

Michael H. Hopewell and George G. Kaufman

Notes on optimal taxation and the optimal rate of inflation pp. 297-305

Jeremy J. Siegel

On the inherent stability of rationally adaptive expectations pp. 307-313

Michael Mussa

A little bit of evidence on the natural rate hypothesis from the U.S pp. 315-319

Salih Neftci and Thomas Sargent

Monetarism: Jerome L. Stein, ed., (North-Holland Publishing Company, Amsterdam, 1976) pp. ix+342, $38.00 pp. 321-324

Bennett McCallum

Congressional supervision of monetary policy: A symposium pp. 325-327

Karl Brunner

The role of monetary targets in an age of inflation pp. 329-339

Paul Volcker

Congressional supervision of monetary policy pp. 341-362

Robert E. Weintraub

The myth of congressional supervision of monetary policy pp. 363-370

James L. Pierce

The conduct of monetary policy under current monetary arrangements pp. 371-388

Allan Meltzer

The international monetary system: A symposiac examination of: The arena of international finance by Charles A. Coombs The international monetary system 1945-1976: An insiders view by Robert Solomon pp. 389-395

Karl Brunner

The international monetary arena seen from two different angles pp. 397-403

Otmar Emminger

Perspectives on the evolution of the international monetary system pp. 405-414

Guido Carli

Two histories of international monetary developments pp. 415-424

Jerry L. Jordan

Coombs and Solomon on the international monetary system: An assessment pp. 425-434

Wilson Schmidt

Volume 4, issue 1, 1978

Rational expectations and the dynamic structure of macroeconomic models: A critical review pp. 1-44

Robert J. Shiller

Some dynamic theory of macroeconomic policy effects on income and prices under the government budget restraint pp. 45-70

Carl Christ

Comparative statics of a two-country capital/money model pp. 71-83

J. Kimball Dietrich

Relative prices and inventory investment pp. 85-102

John Bryant

The relative stability of velocity and the investment multiplier: Some further tests pp. 103-119

Mohsin Khan

Dating, discounting, and the robustness of the Lucas-Sargent proposition pp. 121-129

Bennett McCallum

Offsetting capital flows: A reexamination of the German case pp. 131-142

Manfred J. M. Neumann

Did monetary forces cause the great depression?: Peter Temin, (W.W. Norton, New York 1976) pp. xiii + 201, $8.95 pp. 143-147

Don Roper

Keynes' Monetary Thought: Don Patinkin, (Duke University Press, Durham, NC, 1976) pp. 163, $9.75 pp. 147-150

Richard Froyen