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 46, issue S2, 2014

Editors' Introduction pp. 1-1

Timothy Fuerst and Kenneth West

Labor Force Participation and Monetary Policy in the Wake of the Great Recession pp. 3-49

Christopher Erceg and Andrew Levin

Downward Nominal Wage Rigidities Bend the Phillips Curve pp. 51-93

Mary C. Daly and Bart Hobijn

Labor‐Market Institutions and Long‐Term Effects of Youth Unemployment pp. 95-116

Daiji Kawaguchi and Tetsushi Murao

The Happiness Trade‐Off between Unemployment and Inflation pp. 117-141

David Blanchflower, David N.F. Bell, Alberto Montagnoli and Mirko Moro

Mainstream Economic Analysis and the Case for Accommodation pp. 143-154

Charles Evans

Inflation, Employment, and Monetary Policy: Objectives and Outcomes in the UK and U.S. Compared pp. 155-167

David Miles

Should Full Employment Be a Mandate for Central Banks? Remarks at the Federal Reserve Bank of Boston's 57th Economic Conference pp. 169-182

Eric S. Rosengren

How to Weigh Unemployment Relative to Inflation in Monetary Policy? pp. 183-188

Lars Svensson

Volume 46, issue s1, 2014

A Conference on Postcrisis Banking pp. 1-11

Thorsten Beck, Jakob de Haan and Robert Deyoung

Banks' Liquidity and the Cost of Liquidity to Corporations pp. 13-45

Vitaly M. Bord and Joao Santos

Discussion of Bord and Santos pp. 47-52

John Wilson

The Home Bias and the Credit Crunch: A Regional Perspective pp. 53-85

Andrea Presbitero, Gregory Udell and Alberto Zazzaro

Discussion of Presbitero, Udell, and Zazzaro pp. 87-91

Steven Ongena

Sovereign Credit Risk, Banks' Government Support, and Bank Stock Returns around the World pp. 93-121

Ricardo Correa, Kuan‐hui Lee, Horacio Sapriza and Gustavo Suarez

Discussion of Correa, Lee, Sapriza, and Suarez pp. 123-127

Reint Gropp

Financial Sector in Flux pp. 129-135

Arnoud Boot

The Future Financial System pp. 137-141

Stephen Cecchetti

Our Financial Structures—Are They Prepared for Financial Instability? pp. 143-156

Eric Rosengren

Maintaining Adequate Bank Capital pp. 157-180

Mark Flannery

Does Macro‐Prudential Regulation Leak? Evidence from a UK Policy Experiment pp. 181-214

Shekhar Aiyar, Charles Calomiris and Tomasz Wieladek

Discussion of Aiyar, Calomiris, and Wieladek pp. 215-218

Joe Peek

Too Big to Be Efficient? The Impact of Implicit Subsidies on Estimates of Scale Economies for Banks pp. 219-253

Richard Davies and Belinda Tracey

Discussion of Davies and Tracey pp. 255-257

Robert Deyoung

Bank Bonuses and Bailouts pp. 259-288

Hendrik Hakenes and Isabel Schnabel

Discussion of Hakenes and Schnabel pp. 289-293

Fabio Castiglionesi

Foreign Banks: Trends and Impact pp. 295-326

Stijn Claessens and Neeltje Van Horen

Discussion of Claessens and Van Horen pp. 327-331

David Marques‐ibanez

Multinational Banks and the Global Financial Crisis: Weathering the Perfect Storm? pp. 333-364

Ralph De Haas and Iman Lelyveld

Discussion of De Haas and Van Lelyveld pp. 365-368

Hans Degryse

Volume 46, issue 8, 2014

Money Laundering as a Crime in the Financial Sector: A New Approach to Quantitative Assessment, with an Application to Italy pp. 1555-1590

Guerino Ardizzi, Carmelo Petraglia, Massimiliano Piacenza, Friedrich Schneider and Gilberto Turati

Monetary Regime Switches and Central Bank Preferences pp. 1591-1626

Davide Debortoli and Ricardo Nunes

Investment Dynamics with Information Costs pp. 1627-1656

Fabio Verona

Trade Openness and Exchange Rate Regimes pp. 1657-1686

Ondra Kamenik and Michael Kumhof

Heterogeneous Background Risks and Portfolio Choice: Evidence from Micro‐level Data pp. 1687-1720

Darius Palia, Yaxuan Qi and Yangru Wu

Beyond the Transaction: Banks and Mortgage Default of Low‐Income Homebuyers pp. 1721-1752

Ozgur Ergungor and Stephanie Moulton

Using Cash to Monitor Liquidity: Implications for Payments, Currency Demand, and Withdrawal Behavior pp. 1753-1786

Ulf von Kalckreuth, Tobias Schmidt and Helmut Stix

Aggregate Stability and Balanced‐Budget Rules pp. 1787-1809

Matteo Ghilardi and Raffaele Rossi

Volume 46, issue 7, 2014

Fiscal Stimulus in Times of High Debt: Reconsidering Multipliers and Twin Deficits pp. 1313-1344

Christiane Nickel and Andreas Tudyka

When Is Sticky Information More Information? pp. 1345-1379

Pierre Daniel Sarte

FOMC Forecasts as a Focal Point for Private Expectations pp. 1381-1420

Paul Hubert

Economic Literacy and Inflation Expectations: Evidence from a Laboratory Experiment pp. 1421-1456

Mary Burke and Michael Manz

R&D Shocks and News Shocks pp. 1457-1478

Ryo Jinnai

The Information Value of the Stress Test pp. 1479-1500

Donald Morgan, Stavros Peristiani and Vanessa Savino

Bank Funding, Securitization, and Loan Terms: Evidence from Foreign Currency Lending pp. 1501-1534

Martin Brown, Karolin Kirschenmann and Steven Ongena

Heterogeneous Expectations, Optimal Monetary Policy, and the Merit of Policy Inertia pp. 1535-1554

Emanuel Gasteiger

Volume 46, issue 6, 2014

The Interaction between Capital Requirements and Monetary Policy pp. 1073-1112

Paolo Angelini, Stefano Neri and Fabio Panetta

The Effects of Oil Price Uncertainty on Global Real Economic Activity pp. 1113-1135

Soojin Jo

Understanding the Distributional Impact of Long‐Run Inflation pp. 1137-1170

Gabriele Camera and YiLi Chien

Lumpy Investment and Corporate Tax Policy pp. 1171-1203

Jianjun Miao and Pengfei Wang

Race, Ethnicity, and Credit Card Marketing pp. 1205-1224

Simon Firestone

Information from Relationship Lending: Evidence from Loan Defaults in China pp. 1225-1257

Chun Chang, Guanmin Liao, Xiaoyun Yu and Zheng Ni

The Consumption–Income Ratio, Entrepreneurial Risk, and the U.S. Stock Market pp. 1259-1292

Mathias Hoffmann

Fiscal Multipliers under an Interest Rate Peg of Deterministic versus Stochastic Duration pp. 1293-1312

Charles Carlstrom, Timothy Fuerst and Matthias Paustian

Volume 46, issue 5, 2014

Bond Pricing with a Time‐Varying Price of Risk in an Estimated Medium‐Scale Bayesian DSGE Model pp. 837-888

Ian Dew‐becker

Asset Returns and Labor Supply in a Production Economy pp. 889-919

Ivan Jaccard

Nominal Stability and Financial Globalization pp. 921-959

Michael Devereux, Ozge Senay and Alan Sutherland

Bank Panics, Government Guarantees, and the Long‐Run Size of the Financial Sector: Evidence from Free‐Banking America pp. 961-997

Benjamin Chabot and Charles Moul

An Experimental Analysis of Contingent Capital with Market‐Price Triggers pp. 999-1033

Douglas Davis, Oleg Korenok and Edward Prescott

Nowcasting and the Taylor Rule pp. 1035-1055

William Branch

The Response of Equity Prices to Movements in Long‐Term Interest Rates Associated with Monetary Policy Statements: Before and After the Zero Lower Bound pp. 1057-1071

Michael Kiley

Volume 46, issue 4, 2014

Household Leverage pp. 567-613

Stefano Corradin

The Effectiveness of Unconventional Monetary Policy at the Zero Lower Bound: A Cross‐Country Analysis pp. 615-642

Leonardo Gambacorta, Boris Hofmann and Gert Peersman

Making Weak Instrument Sets Stronger: Factor‐Based Estimation of Inflation Dynamics and a Monetary Policy Rule pp. 643-664

Harun Mirza and Lidia Storjohann

Power‐Sharing in Monetary Policy Committees: Evidence from the United Kingdom and Sweden pp. 665-692

Henry Chappell, Rob Roy McGregor and Todd A. Vermilyea

The Riskiness of Corporate Bonds pp. 693-713

Marco Taboga

Macroeconomic Factors and Microlevel Bank Behavior pp. 715-751

Claudia Buch, Sandra Eickmeier and Esteban Prieto

Bank Heterogeneity and Interest Rate Setting: What Lessons Have We Learned since Lehman Brothers? pp. 753-778

Leonardo Gambacorta and Paolo Emilio Mistrulli

Dynamics of Banks' Capital Accumulation pp. 779-816

Emanuel Barnea and Moshe Kim

What Asset Prices Should Be Targeted by a Central Bank? pp. 817-836

Kengo Nutahara

Volume 46, issue 2-3, 2014

Trend Inflation and the Nature of Structural Breaks in the New Keynesian Phillips Curve pp. 253-266

Chang‐jin Kim, Pym Manopimoke and Charles Nelson

Which Fundamentals Drive Exchange Rates? A Cross‐Sectional Perspective pp. 267-292

Lucio Sarno and Maik Schmeling

Returns to Scale, Market Power, and the Nature of Price Rigidity in New Keynesian Models with Self‐Fulfilling Expectations pp. 293-320

Kevin Huang and Qinglai Meng

Sovereign Defaults, Credit to the Private Sector, and Domestic Credit Market Institutions pp. 321-345

Guido Sandleris

Economic Policy and the Great Depression in a Small Open Economy pp. 347-370

Jonathan Payne and Lawrence Uren

Financial Aspects of Business Cycles: An Analysis of Balance Sheet Adjustments of U.S. Nonfinancial Enterprises over the Twentieth Century pp. 371-407

Robert E. Krainer

Liquidity Coinsurance and Bank Capital pp. 409-443

Fabio Castiglionesi, Fabio Feriozzi, Gyöngyi Lóránth and Loriana Pelizzon

Foreign Entry into Underwriting Services: Evidence from Japan's “Big Bang” Deregulation pp. 445-468

Jose Lopez and Mark Spiegel

Reason for Reserve? Reserve Requirements and Credit pp. 469-501

Nada Mora

Finance and Property Rights: Exploring Other Directions pp. 503-517

Niloy Bose, Antu Murshid and Chitralekha Rath

Business Cycle Implications of Internal Consumption Habit for New Keynesian Models pp. 519-544

Takashi Kano and James Nason

Credit Indicators as Predictors of Economic Activity: A Real‐Time VAR Analysis pp. 545-564

N Kishor and Evan Koenig

Volume 46, issue 1, 2014

The Allocation of Aggregate Risk, Secondary Market Trades, and Financial Boom–Bust Cycles pp. 1-42

Paul Beaudry and Amartya Lahiri

Legal Traditions and Initial Endowments in Shaping the Path of Financial Development pp. 43-77

Daniel Oto‐peralías and Diego Romero‐ávila

Deep Habits in the New Keynesian Phillips Curve pp. 79-114

Thomas A. Lubik and Wing Leong Teo

Labor Selection, Turnover Costs, and Optimal Monetary Policy pp. 115-144

Ester Faia, Wolfgang Lechthaler and Christian Merkl

Location Decisions of Foreign Banks and Competitor Remoteness pp. 145-170

Stijn Claessens and Neeltje Van Horen

Bank Earnings Management and Tail Risk during the Financial Crisis pp. 171-197

Lee Cohen, Marcia Millon Cornett, Alan J. Marcus and Hassan Tehranian

Who Anticipated the Great Depression? Gustav Cassel versus Keynes and Hayek on the Interwar Gold Standard pp. 199-227

Douglas Irwin

Divisia Monetary Aggregates, the Great Ratios, and Classical Money Demand Functions pp. 229-241

Apostolos Serletis and Periklis Gogas

Indeterminacy and Forecastability pp. 243-251

Ippei Fujiwara and Yasuo Hirose