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 42, issue s1, 2010

Editor's Introduction pp. 1-1

Marc Giannoni and Kenneth West

Credit Spreads and Monetary Policy pp. 3-35

Vasco Cúrdia and Michael Woodford

Optimal Monetary Policy in a Model with Agency Costs pp. 37-70

Charles Carlstrom, Timothy Fuerst and Matthias Paustian

Leverage Constraints and the International Transmission of Shocks pp. 71-105

Michael Devereux and James Yetman

Credit and Banking in a DSGE Model of the Euro Area pp. 107-141

Andrea Gerali, Stefano Neri, Luca Sessa and Federico Signoretti

Inflation Expectations and Risk Premiums in an Arbitrage‐Free Model of Nominal and Real Bond Yields pp. 143-178

Jens H. E. Christensen, Jose Lopez and Glenn Rudebusch

International Transmission of U.S. Monetary Policy Shocks: Evidence from Stock Prices pp. 179-198

John Ammer, Clara Vega and Jon Wongswan

Rethinking Macroeconomic Policy pp. 199-215

Olivier Blanchard, Giovanni Dell’ariccia and Paolo Mauro

Macroeconomics in the Wake of the Financial Crisis pp. 217-219

Mark Gertler

The Impact of Liquidity, Securitization, and Banks on the Real Economy pp. 221-228

Eric S. Rosengren

Monetary Policy and Financial Markets at the Effective Lower Bound pp. 229-242

Lars Svensson

Closing Panel Presentation pp. 243-248

Janet L. Yellen

Volume 42, issue 8, 2010

Investment Adjustment Costs: An Empirical Assessment pp. 1469-1494

Charlotta Groth and Hashmat Khan

Macroeconomic Implications of “Deep Habits” in Banking pp. 1495-1521

Roger Aliaga‐díaz and María Pía Olivero

On the International Dimension of Fiscal Policy pp. 1523-1542

Gianluca Benigno and Bianca de Paoli

A Tale of Two Rigidities: Sticky Prices in a Sticky‐Information Environment pp. 1543-1564

Edward Knotek

Free Bank Failures: Risky Bonds versus Undiversified Portfolios pp. 1565-1587

Matthew Jaremski

Do Markets Care about Central Bank Governor Changes? Evidence from Emerging Markets pp. 1589-1612

Christoph Moser and Axel Dreher

An Unobserved Components Model of the Yield Curve pp. 1613-1640

Richard Startz and Kwok Ping Tsang

Combining Judgment and Models pp. 1641-1662

Francesca Monti

Sectoral Money Demand and the Great Disinflation in the United States pp. 1663-1678

Alessandro Calza and Andrea Zaghini

Inflation Targeting Does Not Matter: Another Look at OECD Sacrifice Ratios pp. 1679-1688

Ricardo Brito

Daytime Is Money pp. 1689-1702

Sébastien Kraenzlin and Thomas Nellen

The Cost Channel Reconsidered: A Comment Using an Identification‐Robust Approach pp. 1703-1712

Vasco Gabriel and Luis Martins

Volume 42, issue 7, 2010

Restaurant Prices and the Minimum Wage pp. 1199-1234

Denis Fougere, Erwan Gautier and Hervé Le Bihan

Monetary Shocks in a Model with Skill Loss pp. 1235-1265

Julen Esteban‐pretel and Elisa Faraglia

Moody's and S&P Ratings: Are They Equivalent? Conservative Ratings and Split Rated Bond Yields pp. 1267-1293

Miles Livingston, Jie (diana) Wei and Lei Zhou

Risk Shifting through Nonfinancial Contracts: Effects on Loan Spreads and Capital Structure of Project Finance Deals pp. 1295-1320

Francesco Corielli, Stefano Gatti and Alessandro Steffanoni

Bank Branch Presence and Access to Credit in Low‐ to Moderate‐Income Neighborhoods pp. 1321-1349

Ozgur Emre Ergungor

The Community Reinvestment Act and Targeted Mortgage Lending pp. 1351-1372

Drew Dahl, Douglas D. Evanoff and Michael F. Spivey

The Debt‐Payment‐to‐Income Ratio as an Indicator of Borrowing Constraints: Evidence from Two Household Surveys pp. 1373-1390

Kathleen W. Johnson and Geng Li

The High‐Frequency Response of the EUR‐USD Exchange Rate to ECB Communication pp. 1391-1417

Christian Conrad and Michael Lamla

Time Variation in the Inflation Passthrough of Energy Prices pp. 1419-1433

Todd Clark and Stephen Terry

The Role of Real Wage Rigidity and Labor Market Frictions for Inflation Persistence pp. 1435-1446

Kai Christoffel and Tobias Linzert

Three‐Regime Asymmetric STAR Modeling and Exchange Rate Reversion pp. 1447-1467

Mario Cerrato, Hyunsok Kim and Ronald MacDonald

Volume 42, issue 6, 2010

Infrastructure Finance and Industrial Takeoff in England pp. 985-1010

Alex Trew

The Demise of the Mutual Organizational Form: An Investigation of the Life Insurance Industry pp. 1011-1036

Otgontsetseg Erhemjamts and J. Tyler Leverty

The Structure of Multiple Credit Relationships: Evidence from U.S. Firms pp. 1037-1071

Luigi Guiso and Raoul Minetti

Capital Market Regimes and Bank Structure in Europe pp. 1073-1092

Ronald Shrieves, Drew Dahl and Michael F. Spivey

Optimal Continuation versus the Timeless Perspective in Monetary Policy pp. 1093-1107

Christian Jensen and Bennett McCallum

Exchange Rate Crises and Fiscal Solvency pp. 1109-1135

Betty Daniel

Oil Price Uncertainty pp. 1137-1159

John Elder and Apostolos Serletis

Inflation Dynamics: The Role of Expectations pp. 1161-1172

Ricardo Nunes

Money Supply and Capital Accumulation on the Transition Path Revisited pp. 1173-1184

Rubens Cysne and David Turchick

Are Financial Constraints Priced? Evidence from Firm Fundamentals and Stock Returns pp. 1185-1198

Murillo Campello and Long Chen

Volume 42, issue 5, 2010

Reconsidering the Relationship between Inflation and Relative Price Variability pp. 769-798

Chi-Young Choi

Imperfectly Credible Disinflation under Endogenous Time‐Dependent Pricing pp. 799-831

Marco Bonomo and Carlos Carvalho

Monetary Policy and the Lost Decade: Lessons from Japan pp. 833-857

Daniel Leigh

The Output Effect of a Transition to Price Stability When Velocity Is Time Varying pp. 859-878

Lynne Evans and Anamaria Nicolae

Capital Constraints, Asymmetric Information, and Internal Capital Markets in Banking: New Evidence pp. 879-906

Dmytro Holod and Joe Peek

Financial Contracting and the Choice between Private Placement and Publicly Offered Bonds pp. 907-929

Simon Kwan and Willard T. Carleton

The Taylor Rule and “Opportunistic” Monetary Policy pp. 931-949

Helle Bunzel and Walter Enders

A New Data Set on Monetary Policy: The Economic Forecasts of Individual Members of the FOMC pp. 951-957

David Romer

Measuring a Dynamic Price Index Using Consumption Data pp. 959-964

Shuhei Aoki and Minoru Kitahara

Institutions and Bank Behavior: Legal Environment, Legal Perception, and the Composition of Bank Lending pp. 965-984

Rainer Haselmann and Paul Wachtel

Volume 42, issue 4, 2010

Oil Currency and the Dollar Standard: A Simple Analytical Model of an International Trade Currency pp. 521-550

Michael Devereux, Kang Shi and Juanyi Xu

The Federal Home Loan Bank System: The Lender of Next‐to‐Last Resort? pp. 551-583

Adam Ashcraft, Morten Bech and W Frame

Depositor Behavior under Macroeconomic Risk: Evidence from Bank Runs in Emerging Economies pp. 585-614

Eduardo Levy‐yeyati, Maria Martinez Peria and Sergio Schmukler

Cross‐Border Bank M&As and Risk: Evidence from the Bond Market pp. 615-645

Sungho Choi, Bill B. Francis and Iftekhar Hasan

A Political Agency Theory of Central Bank Independence pp. 647-677

Gauti Eggertsson and Eric Le Borgne

The Empirics of International Monetary Transmission: Identification and the Impossible Trinity pp. 679-713

John Bluedorn and Christopher Bowdler

Portfolio Inertia and Stock Market Fluctuations pp. 715-742

Yannis Bilias, Dimitris Georgarakos and Michael Haliassos

The Importance of Adverse Selection in the Credit Card Market: Evidence from Randomized Trials of Credit Card Solicitations pp. 743-754

Sumit Agarwal, Souphala Chomsisengphet and Chunlin Liu

Bank Debt versus Bond Debt: Evidence from Secondary Market Prices pp. 755-767

Edward Altman, Amar Gande and Anthony Saunders

Volume 42, issue 2‐3, 2010

Capitalizing on Partisan Politics? The Political Economy of Sector‐Specific Redistribution in Germany pp. 203-235

Michael M. Bechtel and Roland Füss

From Drafts to Checks: The Evolution of Correspondent Banking Networks and the Formation of the Modern U.S. Payments System, 1850–1914 pp. 237-265

John James and David F. Weiman

Openness and Inflation pp. 267-287

Dudley Cooke

Disinflation Shocks in the Eurozone: A DSGE Perspective pp. 289-323

Patrick Fève, Julien Matheron and Jean-Guillaume Sahuc

Inflation and Stock Prices: No Illusion pp. 325-345

Chao Wei

Do Markets Care Who Chairs the Central Bank? pp. 347-371

Kenneth N. Kuttner and Adam Posen

Central Bank Communication and the Liquidity Trap pp. 373-397

Stefano Eusepi

The Determinants of Future U.S. Monetary Policy: High‐Frequency Evidence pp. 399-420

Nick Taylor

Alternatives for Distressed Banks during the Great Depression pp. 421-441

Mark Carlson

Debt Maturity Choice of Nonpublic Italian Firms pp. 443-463

Silvia Magri

Identification‐Robust Minimum Distance Estimation of the New Keynesian Phillips Curve pp. 465-481

Leandro Magnusson and Sophocles Mavroeidis

Monetary Misperceptions, Output, and Inflation Dynamics pp. 483-502

Fabrice Collard and Harris Dellas

Seigniorage‐Maximizing Inflation under Sticky Prices pp. 503-519

Tatiana Damjanovic and Charles Nolan

Volume 42, issue 1, 2010

Monetary Policy Trade‐Offs with a Dominant Oil Producer pp. 1-32

Anton Nakov and Andrea Pescatori

New Keynesian Macroeconomics and the Term Structure pp. 33-62

Geert Bekaert, Seonghoon Cho and Antonio Moreno

Simple Monetary Rules under Fiscal Dominance pp. 63-92

Michael Kumhof, Ricardo Nunes and Irina Yakadina

Time Patience and Specialization Patterns in the Presence of Asset Trade pp. 93-112

Yoshiyasu Ono and Akihisa Shibata

Does Inflation Targeting Affect the Dispersion of Inflation Expectations? pp. 113-134

Carlos Capistrán and Manuel Ramos‐francia

Inflation Dynamics in the U.S.: Global but Not Local Mean Reversion pp. 135-150

Bob Nobay, Ivan Paya and David Peel

Can We Explain Inflation Persistence in a Way that Is Consistent with the Microevidence on Nominal Rigidity? pp. 151-170

Huw Dixon and Engin Kara

Macroeconomic Shocks and Banks' Foreign Assets pp. 171-188

Claudia Buch, Kai Carstensen and Andrea Schertler

Does Wealth Imply Secularization and Longevity? pp. 189-202

Zsolt Becsi