Journal of Money, Credit and Banking

2007 - 2025

Continuation of Journal of Money, Credit and Banking.

Current editor(s): Robert deYoung, Paul Evans, Pok-Sang Lam and Kenneth D. West

From Blackwell Publishing
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Volume 57, issue 2-3, 2025

Moral Constraints, Social Norm Enforcement, and Strategic Default in Weak and Strong Economic Conditions pp. 309-348

Martin Brown, Jan Schmitz and Christian Zehnder

The Matching Function and Nonlinear Business Cycles pp. 349-376

Joshua Bernstein, Alexander W. Richter and Nathaniel A. Throckmorton

The Role of Macro‐Economic Policy in Explaining China's Current Account Surplus pp. 377-406

Nalini Prasad

Measuring Monetary Policy Shocks in Emerging Economies: Evidence from India pp. 407-437

Aeimit Lakdawala and Rajeswari Sengupta

Social Learning and Monetary Policy at the Effective Lower Bound pp. 439-475

Jasmina Arifovic, Alex Grimaud, Isabelle Salle and Gauthier Vermandel

Money and Credit Coexistence, Excess Capacity, and the Size of Monetary Aggregates pp. 477-513

Alessandro Mennuni

The Rationality Bias pp. 515-547

Tim Hagenhoff, Joep Lustenhouwer and Mike Tsionas

The Effects of Fiscal Policy When Planning Horizons are Finite pp. 549-582

Joep Lustenhouwer and Kostas Mavromatis

Owner‐Occupied Housing, Inflation, and Monetary Policy pp. 583-614

Robert J. Hill, Miriam Steurer and Sofie R. Waltl

Housing Boom‐Bust Cycles and Asymmetric Macroprudential Policy pp. 615-643

William Gatt

How Well Does Uncertainty Forecast Economic Activity? pp. 645-662

Jiawen Xu and John Rogers

Precautionary Money Demand in a Cash‐in‐Advance Model pp. 663-676

Sergio Salas

Volume 57, issue 1, 2025

Reconsidering the Fed's Inflation Forecasting Advantage pp. 5-30

Amy Guisinger, Michael W. McCracken and Michael T. Owyang

Social Media Emotions and IPO Returns pp. 31-67

Domonkos F. Vamossy

Spatial Dependence via the Internal Capital Markets of U.S. Global Banks pp. 69-105

Carmela D'Avino and Mimoza Shabani

Beyond the LTV Ratio: Lending Standards, Regulatory Arbitrage, and Mortgage Default pp. 107-150

Jorge E. Galán and Matías Lamas

R&D, Market Power, and the Cyclicality of Employment pp. 151-184

Uluc Aysun, Melanie Guldi, Adam Honig and Zeynep Yom

Government Spending, Debt Management, and Wealth and Income Inequality in a Growing Monetary Economy* pp. 185-221

Yoichi Gokan and Stephen J. Turnovsky

Identifying the Depreciation Rate of Durables from Marginal Spending Responses pp. 223-241

Jin Cao, Chao Cui, Valeriya Dinger, Martin Holm and Shulong Kang

Can Repatriation Tax Holidays Teach Us Something About Monetary Policy Transmission? pp. 243-265

Esteban Argudo

Contingent Contracts in Banking: Insurance or Risk Magnification? pp. 267-303

Hans Gersbach

Volume 56, issue 8, 2024

The Life Cycle of Systemic Risk and Crises pp. 1923-1961

Allen N. Berger and John Sedunov

The Effect of Job Loss on Bank Account Ownership pp. 1963-2000

Ryan M. Goodstein and Mark Kutzbach

Does the Government Spending Multiplier Depend on the Business Cycle? pp. 2001-2022

Sebastian Laumer and Collin Philipps

Geopolitical Risk and Investment pp. 2023-2059

Xinjie Wang, Yangru Wu and Weike Xu

Unconventional Monetary Policy and Long‐Term Interest Rates pp. 2061-2104

Tao Wu

Monetary Policy and Net Exports Externalities in the Small Open Economy pp. 2105-2136

Jae Hun Shim

Competitive Effects of IPOs: Evidence from Chinese Listing Suspensions pp. 2137-2169

Frank Packer and Mark Spiegel

Real Interest Rates and Population Growth across Generations* pp. 2171-2184

Lucas Fuhrer and Nils Herger

Estimating a Behavioral New Keynesian Model with the Zero Lower Bound pp. 2185-2197

Yasuo Hirose, Hirokuni Iiboshi, Mototsugu Shintani and Kozo Ueda

Argument by False Analogy: The Mistaken Classification of Bitcoin as Token Money pp. 2199-2222

Alistair Milne

Volume 56, issue 7, 2024

Trade‐Off Theory for Dual Holders pp. 1611-1643

Snorre Lindset, Guttorm Nygård and Svein‐arne Persson

The Impact of Credit Market Sentiment Shocks pp. 1645-1673

Maximilian Boeck and Thomas O. Zörner

From Fixed‐Event to Fixed‐Horizon Density Forecasts: Obtaining Measures of Multihorizon Uncertainty from Survey Density Forecasts pp. 1675-1704

Gergely Ganics, Barbara Rossi and Tatevik Sekhposyan

Oil Shocks, External Adjustment, and Country Portfolio pp. 1705-1736

Liugang Sheng and Hongyan Zhao

Competition and Bank Payout Policy pp. 1737-1778

Amedeo de Cesari, Dudley Gilder, Winifred Huang and Enrico Onali

The Size Distribution of the Banking Sector and Financial Fragility pp. 1779-1801

Jiahong Gao and Robert R. Reed

Credit Markets with Time‐Inconsistent Agents and Strategic Loan Default pp. 1803-1831

Joydeep Bhattacharya, Monisankar Bishnu and Min Wang

Corruption Control, Financial Development, and Growth Volatility: Cross‐Country Evidence pp. 1833-1860

Philipp Struthmann, Yabibal M. Walle and Helmut Herwartz

Wealth, Portfolios, and Nonemployment Duration pp. 1861-1886

François Fontaine, Janne Nyborg Jensen and Rune Vejlin

Monetary Policy and Mispricing in Stock Markets pp. 1887-1904

Benjamin Beckers and Kerstin Bernoth

The Quality‐Weighted Matching Function: Did the German Labor Market Reforms Trade‐Off Efficiency against Job Quality? pp. 1905-1914

Hermann Gartner, Thomas Rothe and Enzo Weber

Volume 56, issue 6, 2024

Market Freezes pp. 1291-1320

Chao Gu, Guido Menzio, Randall Wright and Yu Zhu

Parameterizing Debt Maturity pp. 1321-1365

Philip Barrett and Christopher Johns

Did High Leverage Render Small Businesses Vulnerable to the COVID‐19 Shock? pp. 1367-1403

Falk Bräuning, José L. Fillat and J. Christina Wang

Dampening Global Financial Shocks: Can Macroprudential Regulation Help (More than Capital Controls)? pp. 1405-1438

Katharina Bergant, Francesco Grigoli, Niels‐jakob Hansen and Damiano Sandri

The Bright and Dark Sides of a Central Bank's Financial Support to Local Banks after a Natural Disaster: Evidence from the Great Kanto Earthquake, 1923 Japan pp. 1439-1477

Tetsuji Okazaki, Toshihiro Okubo and Eric Strobl

Fiscal Stimulus of Last Resort pp. 1479-1514

Alessandro Piergallini

Tax Austerity: Does It Avert Solvency Crises? pp. 1515-1543

Christos Shiamptanis

Real Interest Rates, Bank Borrowing, and Fragility pp. 1545-1571

Toni Ahnert, Kartik Anand and Philipp Johann König

On the Controversy over the Origins of the Chicago Plan for 100% Reserves: Sorry, Frederick Soddy, it was Knight and (Most Probably) Simons! pp. 1573-1594

George Tavlas

Hello from the Other Side: Both Government Liabilities and Assets Matter for Sovereign Risk pp. 1595-1604

Jemima Peppel‐srebrny

Volume 56, issue 5, 2024

Housing, Distribution, and Welfare pp. 981-1020

Nobuhiro Kiyotaki, Alexander Michaelides and Kalin Nikolov

The Impact of Credit Risk Mispricing on Mortgage Lending during the Subprime Boom pp. 1021-1052

James A. Kahn and Benjamin S. Kay

In Search of a Risk‐Free Asset: Search Costs and Sticky Deposit Rates pp. 1053-1098

Vladimir Yankov

Capturing Macro‐Economic Tail Risks with Bayesian Vector Autoregressions pp. 1099-1127

Andrea Carriero, Todd Clark and Massimiliano Marcellino

Deregulation and Financial Intermediation Cost: An International Comparison pp. 1129-1161

Guillaume Bazot

The Credit‐Card‐Services Augmented Divisia Monetary Aggregates* pp. 1163-1202

William Barnett, Marcelle Chauvet, Danilo Leiva‐leon and Liting Su

Credit Guarantee and Fiscal Costs pp. 1203-1234

Huixin Bi, Yongquan Cao and Wei Dong

Liquidity, the Mundell–Tobin Effect, and the Friedman Rule pp. 1235-1259

Lukas Altermatt and Christian Wipf

Negative Interest Rate Policy and the Influence of Macro‐Economic News on Yields pp. 1261-1285

Rasmus Fatum, Naoko Hara and Yohei Yamamoto

Volume 56, issue 4, 2024

The Asymmetric Effect of Credit Supply on Firm‐Level Productivity Growth pp. 677-704

Francesco Manaresi and Nicola Pierri

Can Internet Banking Affect Households' Participation in Financial Markets and Financial Awareness? pp. 705-739

Valentina Michelangeli and Eliana Viviano

Financial Expectations and Household Consumption: Does Middle‐Inflation Matter? pp. 741-768

Sarah Brown, Mark Harris, Christopher Spencer and Karl Taylor

The (Ir)Relevance of Rule‐of‐Thumb Consumers for U.S. Business Cycle Fluctuations pp. 769-804

Alice Albonico, Guido Ascari and Qazi Haque

Unconventional Monetary Policy and the Behavior of Shorts pp. 805-835

Thomas McInish, Christopher Neely and Jade Planchon

Monetary Policy Communication: Perspectives from Former Policymakers at the ECB pp. 837-864

Michael Ehrmann, Sarah Holton, Danielle Kedan and Gillian Phelan

The Demand for Trade Protection over the Business Cycle pp. 865-898

Stéphane Auray, Michael B. Devereux and Aurélien Eyquem

Intergenerational Transmission of Preferences and the Operativeness of Bequest Motive pp. 899-932

Jaime Alonso‐carrera and Stéphane Bouché

Response Bias in Survey Measures of Expectations: Evidence from the Survey of Consumer Expectations’ Inflation Module pp. 933-953

David A. Comerford

Progressive Taxation versus College Subsidies with College Dropout pp. 955-975

Kazushige Matsuda

Volume 56, issue 2-3, 2024

A Kinked‐Demand Theory of Price Rigidity pp. 325-363

Stéphane Dupraz

Expectations Formation, Sticky Prices, and the ZLB pp. 365-393

Elizabeth Bersson, Patrick Hürtgen and Matthias Paustian

Secured Loans and Risky Assets in a Monetary Economy pp. 395-427

Yuchi Chu and Yiting Li

Managing Bubbles in Experimental Asset Markets with Monetary Policy pp. 429-454

Myrna Hennequin and Cars Hommes

Liquidity Provision and Financial Stability pp. 455-487

William Chen and Gregory Phelan

Collateral Framework: Liquidity Premia and Multiple Equilibria pp. 489-516

Yvan Lengwiler and Athanasios Orphanides

Financial Crises as a Phenomenon of Multiple Equilibria and How to Select among Them pp. 517-536

Nicolas Mäder

A Prudential Paradox: The Signal in (Not) Restricting Bank Dividends pp. 537-568

Levent Güntay, Stefan Jacewitz and Jonathan Pogach

Markups, Tobin's q, and the Increasing Capital Share pp. 569-587

Jacob A. Kerspien and Jakob Madsen

Shadow Funding and Economic Growth: Evidence from China pp. 589-611

Xu Feng, Xiaowen An, Yahui An and Yajun Xiao

Revisiting Real Wage Rigidity pp. 613-626

Michael Ellington, Christopher Martin and Bingsong Wang

Endogenous Cycles in Collateralized Credit pp. 627-646

Vyacheslav Arbuzov, Yu Awaya, Hiroki Fukai and Makoto Watanabe

International Housing Markets and the U.S. Subprime Crisis pp. 647-669

Shikong (scott) Luo and Jun Ma

Volume 56, issue 1, 2024

Nonlinear Transmission of Financial Shocks: Some New Evidence pp. 5-33

Mario Forni, Luca Gambetti, Nicolò Maffei‐faccioli and Luca Sala

Does Monetary Policy Affect Income Inequality in the Euro Area? pp. 35-80

Anna Samarina and Anh D.M. Nguyen

Communicating Data Uncertainty: Multiwave Experimental Evidence for UK GDP pp. 81-114

Ana Beatriz Galvão and James Mitchell

Global Banks and Synthetic Funding: The Benefits of Foreign Relatives pp. 115-152

Fernando Eguren‐martin, Matias Ossandon Busch and Dennis Reinhardt

Introducing New Forms of Digital Money: Evidence from the Laboratory pp. 153-184

Gabriele Camera

Cryptocurrency, Security, and Financial Intermediation pp. 185-223

Nicholas Glenn and Robert Reed

Money, Bitcoin, and Monetary Policy pp. 225-256

Kee‐youn Kang and Seungduck Lee

Credit Market Frictions and Coessentiality of Money and Credit pp. 257-278

Ohik Kwon and Manjong Lee

Population Aging and International Monetary Transmission pp. 279-304

Myunghyun Kim

Downward Nominal Wage Rigidity and Determinacy of Equilibrium pp. 305-316

Tomohide Mineyama