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

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Volume 43, issue s2, 2011

Liquidity in Frictional Asset Markets pp. 261-282

Guillaume Rocheteau and Pierre-Olivier Weill

Trading Frictions and House Price Dynamics pp. 283-303

Andrew Caplin and John Leahy

Discussion of “Trading Frictions and House Price Dynamics” pp. 305-309

François Ortalo‐magné

Precautionary Reserves and the Interbank Market pp. 311-348

Adam Ashcraft, James McAndrews and David Skeie

Discussion of “Precautionary Reserves and the Interbank Market” pp. 349-353

Arvind Krishnamurthy

Information and Liquidity pp. 355-377

Benjamin Lester, Andrew Postlewaite and Randall Wright

Discussion of “Information and Liquidity” pp. 379-384

Guillaume Rocheteau

From Search to Match: When Loan Contracts Are Too Long pp. 385-411

Christophe Chamley and Céline Rochon

Discussion of “From Search to Match: When Loan Contracts Are Too Long” pp. 413-417

Adriano Rampini

Money, Bargaining, and Risk Sharing pp. 419-442

Nicolas Jacquet and Serene Tan

Discussion of “Money, Bargaining, and Risk Sharing” pp. 443-448

Manolis Galenianos

Banking in a Matching Model of Money and Capital pp. 449-476

Valerie Bencivenga and Gabriele Camera

Discussion of “Banking in a Matching Model of Money and Capital” pp. 477-485

Todd Keister

Uncertainty, Inflation, and Welfare pp. 487-512

Jonathan Chiu and Miguel Molico

Discussion of “Uncertainty, Inflation, and Welfare” pp. 513-519

Scott J. Dressler

Asset Prices, Liquidity, and Monetary Policy in an Exchange Economy pp. 521-552

Ricardo Lagos

Discussion of “Asset Prices, Liquidity, and Monetary Policy in an Exchange Economy” pp. 553-558

Tan Wang

Price‐Level Targeting and Stabilization Policy pp. 559-580

Aleksander Berentsen and Christopher Waller

Discussion of “Price‐Level Targeting and Stabilization Policy” pp. 581-588

Gauti Eggertsson

Precautionary Demand and Liquidity in Payment Systems pp. 589-619

Gara Afonso and Hyun Song Shin

Discussion of “Precautionary Demand and Liquidity in Payment Systems” pp. 621-623

Charles Kahn

Counterfeiting as Private Money in Mechanism Design pp. 625-636

Ricardo Cavalcanti and Ed Nosal

Discussion of “Counterfeiting as Private Money in Mechanism Design” pp. 637-643

Cyril Monnet

Volume 43, issue s1, 2011

Special Issue Editors’ Introduction pp. 1-1

Harris Dellas, Pok‐sang Lam and Masao Ogaki

A Dialogue between Micro‐ and Macroeconomics: Introduction pp. 3-6

Harris Dellas

Individual and Aggregate Labor Supply with Coordinated Working Times pp. 7-37

Richard Rogerson

Returns to Skills and the College Premium pp. 39-86

Flavio Cunha, Fatih Karahan and Ilton Soares

A Survey of New Keynesian Theories of Aggregate Supply and Their Relation to Industrial Organization pp. 87-110

John Leahy

Firm Microstructure and Aggregate Productivity pp. 111-145

Hugo A. Hopenhayn

Optimal Taxation: Merging Micro and Macro Approaches pp. 147-174

Mikhail Golosov, Maxim Troshkin and Aleh Tsyvinski

The Importance of Asymmetric Tax Policy and Dangers of Aggregation pp. 175-205

Kenneth Judd

Social Preferences and Competition pp. 207-231

Klaus M. Schmidt

Asset Bubbles and the Cost of Economic Fluctuations pp. 233-260

Kyle Chauvin, David Laibson and Johanna Mollerstrom

Volume 43, issue 8, 2011

Taxation and Income Distribution Dynamics in a Neoclassical Growth Model pp. 1543-1577

Cecilia García‐peñalosa and Stephen J Turnovsky

Analyzing U.S. Output and the Great Moderation by Simultaneous Unobserved Components pp. 1579-1597

Enzo Weber

Order Flow and the Monetary Model of Exchange Rates: Evidence from a Novel Data Set pp. 1599-1624

Menzie Chinn and Michael Moore

Dynamic Prudential Regulation: Is Prompt Corrective Action Optimal? pp. 1625-1661

Ilhyock Shim

Does Inflation Adjust Faster to Aggregate Technology Shocks than to Monetary Policy Shocks? pp. 1663-1684

Luigi Paciello

Learning about the Term Structure and Optimal Rules for Inflation Targeting pp. 1685-1706

Mewael F. Tesfaselassie, Eric Schaling and Sylvester Eijffinger

Monetary Policy Inclinations pp. 1707-1717

Hans Gersbach and Volker Hahn

The Welfare Effect of Foreign Monetary Conservatism with Nonatomistic Wage Setters pp. 1719-1734

Vincenzo Cuciniello

International Spillover Effects and Monetary Policy Activism pp. 1735-1748

Anna Lipinska, Morten Spange and Misa Tanaka

Volume 43, issue 7, 2011

Optimal Monetary Policy in an Operational Medium‐Sized DSGE Model pp. 1287-1331

Malin Adolfson, Stefan Laséen, Jesper Lindé and Lars Svensson

Differences in Hours Worked in the OECD: Institutions or Fiscal Policies? pp. 1333-1369

Tino Berger and Freddy Heylen

Safety‐Net Losses from Abandoning Glass–Steagall Restrictions pp. 1371-1398

Kenneth A. Carow, Edward Kane and Rajesh P. Narayanan

Bank Finance versus Bond Finance pp. 1399-1421

Fiorella De Fiore and Harald Uhlig

Fundamentals, Misvaluation, and Business Investment pp. 1423-1442

Bob Chirinko and Huntley Schaller

Evolving Macroeconomic Dynamics in a Small Open Economy: An Estimated Markov Switching DSGE Model for the UK pp. 1443-1474

Philip Liu and Haroon Mumtaz

Precautionary Saving and Endogenous Labor Supply with and without Intertemporal Expected Utility pp. 1475-1504

Diego Nocetti and William T. Smith

Inflation Targeting as Constrained Discretion pp. 1505-1522

Junhan Kim

Convergence of Real Capital Market Interest Rates—Evidence from Inflation Indexed Bonds pp. 1523-1541

Helmut Herwartz and Jan Roestel

Volume 43, issue 6, 2011

Subordinated Debt, Market Discipline, and Bank Risk pp. 1043-1072

Yehning Chen and Iftekhar Hasan

The Incredible HOLC? Mortgage Relief during the Great Depression pp. 1073-1107

Jonathan Rose

Monetary Policy and Banking Structure pp. 1109-1129

Tarishi Matsuoka

Search Frictions, Real Rigidities, and Inflation Dynamics pp. 1131-1164

Carlos Thomas

Why Don’t Oil Shocks Cause Inflation? Evidence from Disaggregate Inflation Data pp. 1165-1183

Lance J. Bachmeier and Inkyung Cha

Replacing a “Disobedient” Central Bank Governor with a “Docile” One: A Novel Measure of Central Bank Independence and Its Effect on Inflation pp. 1185-1215

Guillermo Vuletin and Ling Zhu

Credit Rationing and Credit View: Empirical Evidence from an Ethical Bank in Italy pp. 1217-1245

Leonardo Becchetti, Maria Melody Garcia and Giovanni Trovato

What Is the Importance of Monetary and Fiscal Shocks in Explaining U.S. Macroeconomic Fluctuations? pp. 1247-1270

Barbara Rossi and Sarah Zubairy

Identifying Discretionary Fiscal Policy Reactions with Real‐Time Data pp. 1271-1285

Ulf von Kalckreuth and Guntram Wolff

Volume 43, issue 5, 2011

Inflation and Welfare in Long‐Run Equilibrium with Firm Dynamics pp. 795-834

Alexandre Janiak and Paulo Santos Monteiro

The Growth and Welfare Effects of Deficit‐Financed Dividend Tax Cuts pp. 835-869

Pietro Peretto

Monetary Policy Estimation in Real Time: Forward‐Looking Taylor Rules without Forward‐Looking Data pp. 871-897

Alex Nikolsko‐rzhevskyy

Technology and Financial Development pp. 899-921

Anna Ilyina and Roberto Samaniego

The Interbank Market after August 2007: What Has Changed, and Why? pp. 923-958

Paolo Angelini, Andrea Nobili and Cristina Picillo

Investment and Monetary Policy: Learning and Determinacy of Equilibrium pp. 959-992

John Duffy and Wei Xiao

Differential Interpretation in the Survey of Professional Forecasters pp. 993-1017

Sebastiano Manzan

Determinacy under Inflation Targeting Interest Rate Policy in a Sticky Price Model with Investment (and Labor Bargaining) pp. 1019-1033

Takushi Kurozumi and Willem Van Zandweghe

Central Bank Independence, Political Regimes, and the Sacrifice Ratio: A Replication Study of pp. 1035-1042

Hajime Katayama, Natalia Ponomareva and Malvin Sharma

Volume 43, issue 4, 2011

Does Money Matter in Shaping Domestic Business Cycles? An International Investigation pp. 577-607

Fabio Canova and Tobias Menz

Deconstructing a Mortgage Meltdown: A Methodology for Decomposing Underwriting Quality pp. 609-631

Charles D. Anderson, Dennis Capozza and Robert van Order

The Role of Soft Information in a Dynamic Contract Setting: Evidence from the Home Equity Credit Market pp. 633-655

Sumit Agarwal, Brent Ambrose, Souphala Chomsisengphet and Chunlin Liu

Fixed‐ and Variable‐Rate Mortgages, Business Cycles, and Monetary Policy pp. 657-688

Margarita Rubio

Monetary Policy in the Media pp. 689-709

Helge Berger, Michael Ehrmann and Marcel Fratzscher

The Bank Lending Channel Revisited pp. 711-734

Piti Disyatat

Regulations and Productivity Growth in Banking: Evidence from Transition Economies pp. 735-764

Manthos Delis, Philip Molyneux and Fotios Pasiouras

Central Bank Transparency and the Crowding Out of Private Information in Financial Markets pp. 765-774

Clemens Kool, Menno Middeldorp and Stephanie Rosenkranz

The Roles of Nominal Exchange Rate and Relative Price Adjustments in PPP Reversion pp. 775-785

Deokwoo Nam

The Keynesian Multiplier Effect Reconsidered pp. 787-794

Yoshiyasu Ono

Volume 43, issue 2‐3, 2011

Winners and Losers in Housing Markets pp. 255-296

Nobuhiro Kiyotaki, Alexander Michaelides and Kalin Nikolov

Did the Financial Crisis in Japan Affect Household Welfare Seriously? pp. 297-324

Yasuyuki Sawada, Kazumitsu Nawata, Masako Ii and Mark Lee

Rule‐of‐Thumb Consumers Meet Sticky Wages pp. 325-353

Andrea Colciago

The Optimal Rate of Inflation with Trending Relative Prices pp. 355-384

Alexander Wolman

Price Adjustments in a General Model of State‐Dependent Pricing pp. 385-406

James Costain and Anton Nakov

Credit and the Natural Rate of Interest pp. 407-440

Fiorella De Fiore and Oreste Tristani

Competitive Lending with Partial Knowledge of Loan Repayment: Some Positive and Normative Analysis pp. 441-459

William A. Brock and Charles Manski

Small and Medium‐Sized Enterprises, Bank Relationship Strength, and the Use of Venture Capital pp. 461-490

Allen N. Berger and Klaus Schaeck

Household Borrowing after Personal Bankruptcy pp. 491-517

Song Han and Geng Li

Dynamic Limited Dependent Variable Modeling and U.S. Monetary Policy pp. 519-534

George Monokroussos

Taylor Rules and the Euro pp. 535-552

Tanya Molodtsova, Alex Nikolsko‐rzhevskyy and David Papell

The Failure of Woodford's Model of the Channel System in the Cashless Economy pp. 553-563

Colin Rogers

Two Who Called the Great Depression: An Initial Formulation of the Monetary‐Origins View pp. 565-574

George Tavlas

Volume 43, issue 1, 2011

Can News Be a Major Source of Aggregate Fluctuations? A Bayesian DSGE Approach pp. 1-29

Ippei Fujiwara, Yasuo Hirose and Mototsugu Shintani

A New Keynesian Perspective on the Great Recession pp. 31-54

Peter Ireland

How Large Are Housing and Financial Wealth Effects? A New Approach pp. 55-79

Christopher Carroll, Misuzu Otsuka and Jiri Slacalek

Minimal Settlement Assets in Economies with Interconnected Financial Obligations pp. 81-108

Julio Rotemberg

The Effects of Formal and Informal Contracting in Credit Availability pp. 109-132

Gabriel Jimenez, Vicente Salas‐fumás and Jesús Saurina

Credit Crunch Caused by Bank Failures and Self‐Selection Behavior in Lending Markets pp. 133-161

Naoaki Minamihashi

Nonoptimality of the Friedman Rule with Capital Income Taxation pp. 163-183

Alberto Petrucci

The Credibility of Hong Kong's Link from the Perspective of Modern Financial Theory pp. 185-206

Hans Genberg and Cho‐hoi Hui

An Empirical Investigation of the Effects of Rounding on the SPF Probabilities of Decline and Output Growth Histograms pp. 207-220

Michael Clements

Nonseparable Preferences, Frisch Labor Supply, and the Consumption Multiplier of Government Spending: One Solution to a Fiscal Policy Puzzle pp. 221-251

Florin Bilbiie