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 41, issue s1, 2009

Editor's Introduction pp. 1-1

Kenneth West

International Pricing in a Generalized Model of Ideal Variety pp. 3-33

David Hummels and Volodymyr Lugovskyy

Pass‐Through of Exchange Rates and Competition between Floaters and Fixers pp. 35-70

Paul Bergin and Robert Feenstra

The Transmission of International Shocks: A Factor‐Augmented VAR Approach pp. 71-100

Haroon Mumtaz and Paolo Surico

The International Dimension of Inflation: Evidence from Disaggregated Consumer Price Data pp. 101-120

Tommaso Monacelli and Luca Sala

Price Stability with Imperfect Financial Integration pp. 121-149

Pierpaolo Benigno

Exchange Rate Pass‐Through in a Competitive Model of Pricing‐to‐Market pp. 151-175

Raphael Auer and Thomas Chaney

Pass‐Through, Exchange Rates, and Monetary Policy pp. 177-185

Charles Engel

Globalization, Macroeconomic Performance, and Monetary Policy pp. 187-196

Frederic S. Mishkin

Volume 41, issue 8, 2009

Fundamental Economic Shocks and the Macroeconomy pp. 1515-1555

Charles Evans and David A. Marshall

Trend Inflation, Taylor Principle, and Indeterminacy pp. 1557-1584

Guido Ascari and Tiziano Ropele

Monetary Policy, Determinacy, and Learnability in a Two‐Block World Economy pp. 1585-1612

James Bullard and Eric Schaling

Non‐Atomistic Wage Setters and Monetary Policy in a New Keynesian Framework pp. 1613-1630

Stefano Gnocchi

Using Survey Data to Correct the Bias in Policy Expectations Extracted from Fed Funds Futures pp. 1631-1647

Hibiki Ichiue and Tomonori Yuyama

On the Riskiness of Universal Banking: Evidence from Banks in the Investment Banking Business Pre‐ and Post‐GLBA pp. 1649-1669

Victoria Geyfman and Timothy J. Yeager

Monetary Policy and Inflation Expectations in Latin America: Long‐Run Effects and Volatility Spillovers pp. 1671-1690

Luiz de Mello and Diego Moccero

In Defense of Usury Laws pp. 1691-1703

Giuseppe Coco and David de Meza

The Taylor Principle and Monetary Policy Approaching a Zero Bound on Nominal Rates: Quantile Regression Results for the United States and Japan pp. 1705-1723

Thanaset Chevapatrakul, Tae-Hwan Kim and Paul Mizen

Volume 41, issue 7, 2009

The Effects of Monetary Policy on Unemployment Dynamics under Model Uncertainty: Evidence from the United States and the Euro Area pp. 1265-1300

Carlo Altavilla and Matteo Ciccarelli

Monetary Policy under Alternative Asset Market Structures: The Case of a Small Open Economy pp. 1301-1330

Bianca de Paoli

Do Actions Speak Louder Than Words? Household Expectations of Inflation Based on Micro Consumption Data pp. 1331-1363

Atsushi Inoue, Lutz Kilian and Fatma Burcu Kiraz

The Impact of Central Bank Independence on Political Monetary Cycles in Advanced and Developing Nations pp. 1365-1389

Sami Alpanda and Adam Honig

Repo Auctions and the Market for Liquidity pp. 1391-1421

Ulrich Bindseil, Kjell Nyborg and Ilya A. Strebulaev

The Elastic Provision of Liquidity by Private Agents pp. 1423-1451

Drew Saunders

Model Misspecification, the Equilibrium Natural Interest Rate, and the Equity Premium pp. 1453-1479

Oreste Tristani

Identification of New Keynesian Phillips Curves from a Global Perspective pp. 1481-1502

Stephane Dees, Mohammad Pesaran, L. Vanessa Smith and Ron P. Smith

Mergers and Long‐Term Corporate Performance: Evidence from Cross‐Border Bank Acquisitions pp. 1503-1513

Donald R. Fraser and Hao Zhang

Volume 41, issue 6, 2009

Changing Monetary Policy Rules, Learning, and Real Exchange Rate Dynamics pp. 1047-1070

Nelson Mark

Measures of per Capita Hours and Their Implications for the Technology‐Hours Debate pp. 1071-1097

Neville Francis and Valerie Ramey

Outsiders at the Bank of England's MPC pp. 1099-1115

Petra Gerlach‐kristen

What Makes the Output–Inflation Trade‐Off Change? The Absence of Accelerating Deflation in Japan pp. 1117-1140

Emmanuel De Veirman

Inflation Differentials between Spain and the EMU: A DSGE Perspective pp. 1141-1166

Pau Rabanal

Acquisition Targets and Motives in the Banking Industry pp. 1167-1187

Timothy Hannan and Steven J. Pilloff

Can Miracles Lead to Crises? The Role of Optimism in Emerging Markets Crises pp. 1189-1215

Emine Boz

Has the Economy Become More Predictable? Changes in Greenbook Forecast Accuracy pp. 1217-1231

Peter Tulip

The Composition of Government Spending and the Real Exchange Rate pp. 1233-1249

Vahagn Galstyan and Philip R. Lane

Currency Competition: A Hayekian Perspective on International Monetary Integration pp. 1251-1263

Anthony M. Endres

Volume 41, issue 5, 2009

Wealth Distribution, Inflation Tax, and Societal Benefits of Illiquid Bonds pp. 809-830

Young Sik Kim and Manjong Lee

Voting Transparency in a Monetary Union pp. 831-853

Hans Gersbach and Volker Hahn

Payments Settlement: Tiering in Private and Public Systems pp. 855-884

Charles Kahn and William Roberds

Optimal Monetary Policy with an Uncertain Cost Channel pp. 885-906

Peter Tillmann

Price and Investment Dynamics: Theory and Plant‐Level Data pp. 907-934

Magnus Lundin, Nils Gottfries, Charlotte Bucht and Tomas Lindström

Role of Collateral and Personal Guarantees in Relationship Lending: Evidence from Japan's SME Loan Market pp. 935-960

Arito Ono and Iichiro Uesugi

Religion and Female Educational Attainment pp. 961-986

Seth W. Norton and Annette Tomal

The Response of Hours to a Technology Shock: A Two‐Step Structural VAR Approach pp. 987-1013

Patrick Fève and Alain Guay

Consumption Habits in a New Keynesian Business Cycle Model pp. 1015-1030

Richard Dennis

Corrigendum to “Regime Changes in International Real Interest Rates: Are They a Monetary Phenomenon?” pp. 1031-1032

Gawon Yoon

The Global Side of the Investment‐Saving Puzzle pp. 1033-1040

Joseph Byrne, Giorgio Fazio and Norbert Fiess

Unbiased Estimation of the Half‐Life to Price Index Convergence among U.S. Cities pp. 1041-1046

Hiranya Nath and Jayanta Sarkar

Volume 41, issue 4, 2009

Daily Changes in Fed Funds Futures Prices pp. 567-582

James D. Hamilton

Uncovering the Hit List for Small Inflation Targeters: A Bayesian Structural Analysis pp. 583-618

Timothy Kam, Kirdan Lees and Philip Liu

Monetary Policy in a Forward‐Looking Input–Output Economy pp. 619-650

Brad E. Strum

Which Microfinance Institutions Are Becoming More Cost Effective with Time? Evidence from a Mixture Model pp. 651-672

Steven B Caudill, Daniel Gropper and Valentina Hartarska

Do Mergers Improve Information? Evidence from the Loan Market pp. 673-709

Fabio Panetta, Fabiano Schivardi and Matthew Shum

Are Competitive Banking Systems More Stable? pp. 711-734

Klaus Schaeck, Martin Cihak and Simon Wolfe

Determinants of Bank‐Market Structure: Efficiency and Political Economy Variables pp. 735-754

Francisgo González

Can Affine Term Structure Models Help Us Predict Exchange Rates? pp. 755-766

Antonio Diez de los Rios

Inflation Persistence, Monetary Policy, and the Great Moderation pp. 767-786

Charles Carlstrom, Timothy Fuerst and Matthias Paustian

Moderate Inflation and the Deflation–Depression Link pp. 787-798

Jess Benhabib and Mark Spiegel

Regulation and the Neo‐Wicksellian Approach to Monetary Policy pp. 799-807

John Duca and Tao Wu

Volume 41, issue 2‐3, 2009

Precautionary Saving and Consumption Smoothing across Time and Possibilities pp. 245-284

Miles Kimball and Philippe Weil

Do Solicitations Matter in Bank Credit Ratings? Results from a Study of 72 Countries pp. 285-314

Winnie P. H. Poon, Junsoo Lee and Benton E. Gup

Whither Loose Change? The Diminishing Demand for Small‐Denomination Currency pp. 315-335

Gene Amromin and Sujit Chakravorti

Noneconomic Engagement and International Exchange: The Case of Environmental Treaties pp. 337-363

Andrew Rose and Mark Spiegel

Disagreement and Biases in Inflation Expectations pp. 365-396

Carlos Capistrán and Allan Timmermann

Reconciling Bagehot and the Fed's Response to September 11 pp. 397-415

Antoine Martin

Real Wage Rigidities and the Cost of Disinflations pp. 417-435

Guido Ascari and Christian Merkl

The Feeble Link between Exchange Rates and Fundamentals: Can We Blame the Discount Factor? pp. 437-442

Lucio Sarno and Elvira Sojli

Nonseparable Preferences, Fiscal Policy Puzzles, and Inferior Goods pp. 443-450

Florin Bilbiie

Bailey's Measure of the Welfare Costs of Inflation as a General‐Equilibrium Measure pp. 451-459

Rubens Cysne

A Short History of Price Level Convergence in Europe pp. 461-477

Riemer P. Faber and Ad Stokman

Does Global Liquidity Help to Forecast U.S. Inflation? pp. 479-489

Antonello D'Agostino and Paolo Surico

Does Interbank Borrowing Reduce Bank Risk? pp. 491-506

Valeriya Dinger and Juergen von Hagen

Flexible Majority Rules for Central Banks pp. 507-516

Hans Gersbach and Bernhard Pachl

Purdah—On the Rationale for Central Bank Silence around Policy Meetings pp. 517-528

Michael Ehrmann and Marcel Fratzscher

The Relationships between Permanent and Transitory Movements in U.S. Output and the Unemployment Rate pp. 529-542

Tara Sinclair

The Spirit of Capitalism, Precautionary Savings, and Consumption pp. 543-554

Yulei Luo, William T. Smith and Heng-Fu Zou

Individual's Religiosity Enhances Trust: Latin American Evidence for the Puzzle pp. 555-566

Pablo Brañas‐garza, Máximo Rossi and Dayna Zaclicever

Volume 41, issue 1, 2009

Equilibrium Unemployment, Job Flows, and Inflation Dynamics pp. 1-33

Antonella Trigari

Measuring the Information Content of the Beige Book: A Mixed Data Sampling Approach pp. 35-55

Michelle T. Armesto, Rubén Hernández‐murillo, Michael Owyang and Jeremy Piger

Government Spending and the Taylor Principle pp. 57-77

Gisle Natvik

Monetary Policy with Heterogeneous and Misspecified Expectations pp. 79-100

Michele Berardi

The Euro Changeover and Its Effects on Price Transparency and Inflation pp. 101-129

Wioletta Dziuda and Giovanni Mastrobuoni

Political Influence and Declarations of Bank Insolvency in Japan pp. 131-158

Masami Imai

Distortionary Taxation, Debt, and the Price Level pp. 159-188

Andreas Schabert and Leopold von Thadden

Multiple BGPs in a Growth Model with Habit Persistence: A Comment pp. 189-195

Patrick Toche

Institutions and Economic Performance: Endogeneity and Parameter Heterogeneity pp. 197-219

Theo Eicher and Andreas Leukert

The Long‐Run Fisher Effect: Can It Be Tested? pp. 221-231

Mark Jensen

Inflation Targeting Matters: Evidence from OECD Economies' Sacrifice Ratios pp. 233-243

Carlos Eduardo S. Gonçalves and Alexandre Carvalho