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 54, issue S1, 2022

Editors Introduction to the Special Issue pp. 5-5

Yuriy Gorodnichenko and Kenneth D. West

The Missing Inflation Puzzle: The Role of the Wage‐Price Pass‐Through pp. 7-51

Sebastian Heise, Fatih Karahan and Aysegul Sahin

Insider–Outsider Labor Markets, Hysteresis, and Monetary Policy pp. 53-88

Jordi Galí

The Importance of the Part‐Time and Participation Margins for Real Wage Adjustment pp. 89-111

Mary C. Daly and Bart Hobijn

Worker Heterogeneity, Selection, and Unemployment Dynamics in a Pandemic pp. 113-155

Federico Ravenna and Carl Walsh

Labor Market Integration and Fiscal Competition pp. 157-185

Sergii Kiiashko and Paweł Kopiec

Volume 54, issue 8, 2022

Foreign Investment under the Spotlight of Home Media pp. 2197-2234

Wai‐Man Liu, Jing Yu and Bohui Zhang

Equilibrium Yield Curve, the Phillips Curve, and Monetary Policy pp. 2235-2272

Mitsuru Katagiri

Macroeconomic Implications of Student Debt: A State‐Level Analysis pp. 2273-2300

Berrak Bahadir and Dora Gicheva

The Role of Regulation and Bank Competition in Small Firm Financing: Evidence from the Community Reinvestment Act pp. 2301-2340

Panagiotis Avramidis, George Pennacchi, Konstantinos Serfes and Kejia Wu

Relationship Banking and Monetary Policy Transmission: Evidence from India pp. 2341-2375

Abhishek Bhardwaj, Krishnamurthy Subramanian and Prasanna Tantri

The Walls Have Ears: Local Information Environments and Corporate Fraud pp. 2377-2410

Jens Hagendorff, Nhan Le and Duc Duy Nguyen

Invoicing Currency and Financial Hedging pp. 2411-2444

Victor Lyonnet, Julien Martin and Isabelle Mejean

What Did Homeowners Do with Home Equity Borrowing? Contemporaneous and Long‐Term Effects pp. 2445-2475

Sheng Guo

Can Cold Turkey Reduce Inflation Inertia? Evidence on Disinflation and Level‐k Thinking from a Laboratory Experiment pp. 2477-2517

Marcus Giamattei

On Liquidity Shocks and Asset Prices pp. 2519-2546

Pablo A. Guerron‐quintana and Ryo Jinnai

Volume 54, issue 7, 2022

Epidemic Exposure, Financial Technology, and the Digital Divide pp. 1913-1940

Orkun Saka, Barry Eichengreen and Cevat Giray Aksoy

Optimal Taxes under Private Information: The Role of Inflation pp. 1941-1969

Pedro Gomis‐porqueras and Christopher Waller

The Optimal Inflation Rate with Discount Factor Heterogeneity pp. 1971-1996

Antoine Lepetit

Demand Shocks for Public Debt in the Eurozone pp. 1997-2028

Andras Lengyel and Massimo Giuliodori

Intermediary Segmentation in the Commercial Real Estate Market pp. 2029-2080

David Glancy, John Krainer, Robert Kurtzman and Joseph B. Nichols

How Does Monetary Policy Pass‐Through Affect Mortgage Default? Evidence from the Irish Mortgage Market pp. 2081-2101

David Byrne, Robert Kelly and Conor O'Toole

From a Quantity to an Interest Rate‐Based Framework: Multiple Monetary Policy Instruments and Their Effects in China pp. 2103-2123

Soyoung Kim and Hongyi Chen

The Social Value of Information: A Test of a Beauty and Nonbeauty Contest pp. 2125-2148

Thomas Lustenberger and Enzo Rossi

Financial Contagion in a Two‐Country Model pp. 2149-2172

Tarishi Matsuoka

Expectation‐Driven Cycles and the Changing Dynamics of Unemployment pp. 2173-2191

Antonello D'Agostino, Caterina Mendicino and Federico Puglisi

Volume 54, issue 6, 2022

Monetary Policy, Inflation, and Rational Asset Price Bubbles pp. 1569-1603

Daisuke Ikeda

The Empirical Relevance of the Shadow Rate and the Zero Lower Bound pp. 1605-1635

Michael Ellington

Estimating a Nonlinear New Keynesian Model with the Zero Lower Bound for Japan pp. 1637-1671

Hirokuni Iiboshi, Mototsugu Shintani and Kozo Ueda

Mobile Collateral versus Immobile Collateral pp. 1673-1703

Gary Gorton, Toomas Laarits and Tyler Muir

Bank Sectoral Concentration and Risk: Evidence from a Worldwide Sample of Banks pp. 1705-1739

Thorsten Beck, Olivier De Jonghe and Klaas Mulier

Domestic Debt and Sovereign Defaults pp. 1741-1775

Enrico Mallucci

Does Gross or Net Debt Matter More for Emerging Market Spreads? pp. 1777-1802

Metodij Hadzi‐vaskov and Luca Ricci

Eliminating the Tax Shield through Allowance for Corporate Equity: Cross‐Border Credit Supply Effects pp. 1803-1837

Sonny Biswas, Balint Horvath and Wei Zhai

Economic Slowdown and Housing Dynamics in China: A Tale of Two Investments by Firms pp. 1839-1874

Feng Dong, Yumei Guo, Yuchao Peng and Zhiwei Xu

An Application of Shapley Value Cost Allocation to Liquidity Savings Mechanisms pp. 1875-1888

Rodney Garratt

Breaking the UIP: A Model‐Equivalence Result pp. 1889-1904

Yossi Yakhin

Volume 54, issue 5, 2022

General Purpose Technologies as Systematic Risk in Global Stock Markets pp. 1141-1173

Po-Hsuan Hsu, Huijun Wang and Wei Yang

The Embodiment Controversy: On the Policy Implications of Vintage Capital Models pp. 1175-1222

Roberto Samaniego and Juliana Yu Sun

Are the Largest Banking Organizations Operationally More Risky? pp. 1223-1259

Filippo Curti, W Frame and Atanas Mihov

Bank Regulation, Network Topology, and Systemic Risk: Evidence from the Great Depression pp. 1261-1312

Sanjiv R. Das, Kris James Mitchener and Angela Vossmeyer

Evaluating Regulatory Reform: Banks' Cost of Capital and Lending pp. 1313-1367

Anna Kovner and Peter Van Tassel

Responses to Eliminating Saving Commitments: Evidence from Mortgage Run‐offs pp. 1369-1405

Steffen Andersen, Philippe d'Astous, Jimmy Martínez‐Correa and Stephen H. Shore

Unemployment Risk pp. 1407-1424

Michael Kiley

Heterogeneous Effects of Unconventional Monetary Policy on the Bond Yields across the Euro Area pp. 1425-1457

İshak Demir, Burak A. Eroğlu and Seçi̇l Yildirim‐karaman

How Much Information Do Monetary Policy Committees Disclose? Evidence from the FOMC's Minutes and Transcripts pp. 1459-1490

Mikael Apel, Marianna Blix Grimaldi and Isaiah Hull

Time Consistency and Counterproductive Monetary Policy Cooperation in a Two‐Country New Keynesian Model pp. 1491-1523

Thang Doan and Junichi Fujimoto

Narrative Monetary Policy Surprises and the Media pp. 1525-1549

Saskia Ter Ellen, Vegard Larsen and Leif Thorsrud

The Real Interest Rate Channel Is Structural in Contemporary New‐Keynesian Models: A Note pp. 1551-1563

Joshua Brault and Hashmat Khan

Volume 54, issue 4, 2022

Households' Balance Sheets and the Effect of Fiscal Policy pp. 737-778

Javier Andrés, José Boscá, Javier Ferri and Cristina Fuentes‐albero

Secular Stagnation and Low Interest Rates under the Fear of a Government Debt Crisis pp. 779-824

Keiichiro Kobayashi and Kozo Ueda

Uncertainty and the Bank of England's MPC pp. 825-858

Henry Chappell, William Greene, Mark Harris and Christopher Spencer

The impact of macroeconomic uncertainty on inequality: An empirical study for the United Kingdom pp. 859-884

Angeliki Theophilopoulou

An Epidemiological Model of Economic Crisis Spread across Sectors in the United States pp. 885-919

Eva F. Janssens, Robin L. Lumsdaine and Sebastiaan H.L.C.G. Vermeulen

Business Cycles across Space and Time pp. 921-952

Neville Francis, Michael Owyang and Daniel Soques

The Propagation of Regional Shocks in Housing Markets: Evidence from Oil Price Shocks in Canada pp. 953-987

Lutz Kilian and Xiaoqing Zhou

The Demand for Assets: Evidence from the Markov Switching Normalized Quadratic Model pp. 989-1025

Libo Xu and Apostolos Serletis

Pushed Past the Limit? How Japanese Banks Reacted to Negative Rates pp. 1027-1063

Gee Hee Hong and John Kandrac

Clogged Intermediation: Were Home Buyers Crowded Out? pp. 1065-1098

Dong Beom Choi, Hyun‐soo Choi and Jung‐eun Kim

Fed's Policy Changes and Inflation in Emerging Markets: Lessons from the Taper Tantrum pp. 1099-1121

Antonia López‐villavicencio and Marc Pourroy

A Note of Caution on Quantifying Banks' Recapitalization Effects pp. 1123-1133

Kirsten Schmidt, Felix Noth and Lena Tonzer

Volume 54, issue 2-3, 2022

Equity Short Selling and the Bank Loan Market pp. 349-379

Po‐Hsin Ho, Chih‐Yung Lin and Tse‐Chun Lin

Bank Examiners’ Information and Expertise and their Role in Monitoring and Disciplining Banks Before and During the Panic of 1893 pp. 381-423

Charles W. Calomiris and Mark Carlson

The Interest of Being Eligible pp. 425-458

Jean-Stéphane Mésonnier, Charles O'Donnell and Olivier Toutain

Price Dispersion and the Costs of Inflation pp. 459-491

Volker Hahn

Fighting Fire with Gasoline: CoCos in Lieu of Equity pp. 493-517

Roman Goncharenko

(Dis)Solving the Zero Lower Bound Equilibrium through Income Policy pp. 519-535

Guido Ascari and Jacopo Bonchi

Forecaster Efficiency, Accuracy, and Disagreement: Evidence Using Individual‐Level Survey Data pp. 537-568

Michael Clements

Exchange Rate Sensitivity and the Net Foreign Asset Composition pp. 569-598

Malin Gardberg

Search with Wage Posting under Sticky Prices pp. 599-626

Andrew Foerster and MUSTRE‐DEL‐RíO José

Heterogeneity in Euro Area Monetary Policy Transmission: Results from a Large Multicountry BVAR Model pp. 627-649

Martin Mandler, Michael Scharnagl and Ute Volz

Unsecured and Secured Funding pp. 651-662

Mario Di Filippo, Angelo Ranaldo and Jan Wrampelmeyer

Fiscal Policy And the Nominal Term Premium pp. 663-683

Roman Horvath, Lorant Kaszab and Aleš Maršál

Monetary shock measurement and stock markets pp. 685-706

Arabinda Basistha and Richard Startz

On the Role of the Collateral Constraint Friction in the North–South Transmission of the 2008–2009 Financial Crisis pp. 707-728

Ha Nguyen

Volume 54, issue 1, 2022

The Term Structure of Currency Futures' Risk Premia pp. 5-38

Kerstin Bernoth, Juergen von Hagen and Casper de Vries

The Term Structure of Uncertainty: New Evidence from Survey Expectations pp. 39-71

Carola Binder, Tucker McElroy and Xuguang S. Sheng

What Does the Cross‐Section Tell About Itself? Explaining Equity Risk Premia with Stock Return Moments pp. 73-118

Ilan Cooper, Liang Ma and Paulo Maio

Money in the Equilibrium of Banking pp. 119-144

Jin Cao and Gerhard Illing

Chinese Exchange Rate Policy: Lessons for Global Investors pp. 145-168

Michael Melvin and Frank Westermann

Unconventional Monetary Policy and Auction Cycles of Eurozone Sovereign Debt pp. 169-202

Josha van Spronsen and Roel Beetsma

Countercyclical Foreign Currency Borrowing: Eurozone Firms in 2007–09 pp. 203-245

Philippe Bacchetta and Ouarda Merrouche

Labor Market Policies in a Deep Recession: Lessons from Hoover's Policies during the U.S. Great Depression pp. 247-283

Jordan Roulleau‐pasdeloup and Anastasia Zhutova

Sovereign Risk and the Bank Lending Channel: Differences across Countries and the Effects of the Financial Crisis pp. 285-312

María Cantero‐saiz, Sergio Sanfilippo‐azofra and Begoña Torre‐olmo

Output Comovement and Inflation Dynamics in a Two‐Sector Model with Durable Goods: The Role of Sticky Information and Heterogeneous Factor Markets pp. 313-331

Tomiyuki Kitamura and Tamon Takamura

Government Bailout Funds: Balancing Rules and Discretion pp. 333-342

Mark Gradstein