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 52, issue S2, 2020

Editors’ Introduction to the Special Issue pp. 317-318

Antoine Martin and Kenneth D. West

The Cyclical Behavior of the Price‐Cost Markup pp. 319-353

Christopher Nekarda and Valerie Ramey

The Shadow Margins of Labor Market Slack pp. 355-391

Jason Faberman, Andreas Mueller, Ayşegül Şahin* and Giorgio Topa

Slack and Cyclically Sensitive Inflation pp. 393-428

James H. Stock and Mark W. Watson

Regional Effects of Exchange Rate Fluctuations pp. 429-463

Christopher L. House, Christian Proebsting and Linda L. Tesar

Uncovered Interest Parity, Forward Guidance and the Exchange Rate pp. 465-496

GALí Jordi

Bond Risk Premia and The Exchange Rate pp. 497-520

Boris Hofmann, Ilhyock Shim and Hyun Song Shin

A Further Look at the Propagation of Monetary Policy Shocks in HANK pp. 521-559

Felipe Alves, Greg Kaplan, Benjamin Moll and Giovanni L. Violante

Medium‐Term Money Neutrality and the Effective Lower Bound pp. 561-600

Gauti Eggertsson and Marc Giannoni

The Research–Policy Nexus: ZLB, JMCB, and FOMC pp. 601-605

John Williams

Volume 52, issue S1, 2020

Editors’ Introduction to the Special Issue pp. 5-12

Robert Deyoung, Philipp Hartmann and Luc Laeven

The Financial Stability Board: Principles and Priorities pp. 13-20

Randal K. Quarles

The Regulation of Private Money* pp. 21-42

Gary Gorton

Contrasting Worldviews at Bank and Securities Market Regulators pp. 43-62

Mark J. Flannery

My Reflections on the FPC's Strategy pp. 63-75

Anil K Kashyap

Are Banks Finally Resolvable? A Perspective from Europe pp. 77-86

Isabel Schnabel

Capital Adequacy Pre‐ and Postcrisis and the Role of Stress Testing pp. 87-105

Til Schuermann

Bad Times, Good Credit pp. 107-142

Bo Becker, Marieke Bos and Kasper Roszbach

Discussion of Becker, Bos, and Roszbach pp. 143-147

Evren Ors

Bank Size and Household Financial Sentiment: Surprising Evidence from University of Michigan Surveys of Consumers pp. 149-191

Allen N. Berger, Felix Irresberger and Raluca Roman

Discussion of Berger, Irresberger, and Roman pp. 193-195

Glenn Schepens

Negative Monetary Policy Rates and Systemic Banks' Risk‐Taking: Evidence from the Euro Area Securities Register pp. 197-231

Johannes Bubeck, Angela Maddaloni and Jose-Luis Peydro

Discussion of Bubeck, Maddaloni, and Peydró pp. 233-240

Skander Van den Heuvel

Bank Leverage Limits and Regulatory Arbitrage: Old Question‐New Evidence pp. 241-266

Dong Beom Choi, Michael R. Holcomb and Donald P. Morgan

Discussion of Choi, Holcomb, and Morgan pp. 267-272

Joe Peek

Domestic Banks As Lightning Rods? Home Bias and Information during the Eurozone Crisis pp. 273-305

Orkun Saka

Discussion of Saka pp. 307-311

Alexander Popov

Volume 52, issue 8, 2020

How Does the Stock Market View Bank Regulatory Capital Forbearance Policies? pp. 1873-1907

Van Son Lai and Xiaoxia Ye

On What States Do Prices Depend? Answers From Ecuador pp. 1909-1935

Craig Benedict, Mario Crucini and Anthony Landry

Income Redistribution, Consumer Credit, and Keeping Up with the Riches pp. 1937-1971

Mathias Klein and Christopher Krause

Observing and Shaping the Market: The Dilemma of Central Banks pp. 1973-2005

Romain Baeriswyl, Camille Cornand and Bruno Ziliotto

The Role of Inflation Target Adjustment in Stabilization Policy pp. 2007-2052

Yunjong Eo and Denny Lie

Animal Spirits, Financial Markets, and Aggregate Instability pp. 2053-2083

Wei Dai, Mark Weder and Bo Zhang

Capital Bubbles, Interest Rates, and Investment in a Small Open Economy pp. 2085-2109

Tomoo Kikuchi and Athakrit Thepmongkol

Real Exchange Rate and External Balance: How Important Are Price Deflators? pp. 2111-2130

JaeBin Ahn, Rui Mano and Jing Zhou

Volume 52, issue 7, 2020

Money and Collateral pp. 1617-1644

Leo Ferraris and Fabrizio Mattesini

Can the U.S. Interbank Market Be Revived? pp. 1645-1689

Kyungmin Kim, Antoine Martin and Ed Nosal

Multiperiod Loans, Occasionally Binding Constraints, and Monetary Policy: A Quantitative Evaluation pp. 1691-1718

Kristina Bluwstein, MICHAł Brzoza‐brzezina, Paolo Gelain and Marcin Kolasa

Banking on the Boom, Tripped by the Bust: Banks and the World War I Agricultural Price Shock pp. 1719-1754

Matthew Jaremski and David Wheelock

FX Intervention in the New Keynesian Model pp. 1755-1791

Zineddine Alla, Raphael A. Espinoza and Atish Ghosh

Monetary News Shocks pp. 1793-1820

Nadav Ben Zeev, Christopher Gunn and Hashmat Khan

Uncertainty, Incentives, and Misallocation pp. 1821-1851

Seungjun Baek

Money, Bonds, and the Liquidity Trap pp. 1853-1867

Luis Araujo and Leo Ferraris

Volume 52, issue 6, 2020

Firms’ Management of Infrequent Shocks pp. 1329-1359

Benjamin Collier, Andrew F. Haughwout, Howard C. Kunreuther and Erwann O. Michel‐kerjan

The Euro Area Bond Free Float and the Implications for QE pp. 1361-1395

Tobias S. Blattner and Michael A. S. Joyce

A Liquidity‐Based Resolution of the Uncovered Interest Parity Puzzle pp. 1397-1433

Seungduck Lee and Kuk Mo Jung

Money, Asset Prices, and the Liquidity Premium pp. 1435-1466

Seungduck Lee

Flow Effects of Central Bank Asset Purchases on Sovereign Bond Prices: Evidence from a Natural Experiment pp. 1467-1491

Roberto De Santis and Fédéric Holm‐hadulla

Harmful Procompetitive Effects of Trade in Presence of Credit Market Frictions pp. 1493-1525

Reto Foellmi and Manuel Oechslin

Fiscal Policy and Occupational Employment Dynamics pp. 1527-1563

Christian Bredemeier, Falko Juessen and Roland Winkler

Macroprudential Policies in a Low Interest Rate Environment pp. 1565-1591

Margarita Rubio and Fang Yao

Nonlinear Effects of Mortgage Spreads Over the Business Cycle pp. 1593-1611

Chak Hung Jack Cheng and Ching‐wai (jeremy) Chiu

Volume 52, issue 5, 2020

The Dynamics of Capital Flow Episodes pp. 969-1003

Christian Friedrich and Pierre Guérin

Debt and Financial Vulnerability on the Verge of Retirement pp. 1005-1034

Annamaria Lusardi, Olivia Mitchell and Noemi Oggero

Cultural Determinants of Household Saving Behavior pp. 1035-1070

Nicola Fuchs‐schündeln, Paolo Masella and Hannah Paule‐paludkiewicz

On the Relationship between Domestic Saving and the Current Account: Evidence and Theory for Developing Countries pp. 1071-1106

Markus Brueckner, Wojtek Paczos and Evi Pappa

A Welfare‐Based Analysis of International Monetary Policy Spillovers at the Zero Lower Bound pp. 1107-1145

Alex Haberis and Anna Lipinska

Endogenous Growth and Real Effects of Monetary Policy: R&D and Physical Capital Complementarities pp. 1147-1197

Pedro Gil and Gustavo Iglésias

Trade Credit Use as Firms Approach Default pp. 1199-1229

Emilia Garcia‐appendini and Judit Montoriol‐garriga

On the Effectiveness of Loan‐to‐Value Regulation in a Multiconstraint Framework pp. 1231-1270

Anna Grodecka-Messi

How Unsecured Credit Policies Influence Mortgage and Unsecured Loan Defaults pp. 1271-1304

Jiseob Kim

Do Stronger Patents Stimulate or Stifle Innovation? The Crucial Role of Financial Development pp. 1305-1322

Angus Chu, Guido Cozzi, Haichao Fan, Shiyuan Pan and Mengbo Zhang

Volume 52, issue 4, 2020

Monetary Equilibrium and the Cost of Banking Activity pp. 653-683

Paola Boel and Gabriele Camera

Banks' Funding Stress, Lending Supply, and Consumption Expenditure pp. 685-720

Evren Damar, Reint Gropp and Adi Mordel

Inflation‐Indexed Bonds and Nominal Bonds: Financial Innovation and Precautionary Motives pp. 721-745

Minwook Kang

The Effects of State‐Mandated Financial Education on College Financing Behaviors pp. 747-776

Christiana Stoddard and Carly Urban

Labor Market and Financial Shocks: A Time‐Varying Analysis pp. 777-801

Francesco Corsello and Valerio Nispi Landi

Monetary Policy Uncertainty and the Response of the Yield Curve to Policy Shocks pp. 803-833

Peter Tillmann

On the Value of Virtual Currencies pp. 835-862

Wilko Bolt and Maarten van Oordt

Foreign Direct Investment and Debt Financing in Emerging Economies pp. 863-905

Paul Luk and Tianxiao Zheng

Tax Evasion, Investment Shocks, and the Consumption Puzzle: A DSGE Analysis with Financial Frictions pp. 907-932

Bruno Chiarini, Maria Ferrara and Elisabetta Marzano

Can Stock Volatility Be Benign? New Measurements and Macroeconomic Implications pp. 933-950

Yu‐fan Huang and Sui Luo

A Note of Caution on Shadow Rate Estimates pp. 951-962

Leo Krippner

Volume 52, issue 2-3, 2020

Identifying Price Reviews by Firms: An Econometric Approach pp. 293-322

Mark Harris, Hervé Le Bihan and Patrick Sevestre

Official Demand for U.S. Debt: Implications for U.S. Real Rates pp. 323-364

Iryna Kaminska and Gabriele Zinna

(In)Efficient Interbank Networks pp. 365-407

Fabio Castiglionesi and Noemí Navarro

Monetary Policy Transmission with Interbank Market Fragmentation pp. 409-440

Miklos Vari

Monetary Policy Implementation in a Negative Rate Environment pp. 441-470

Michael Boutros and Jonathan Witmer

Elections and Capital Flows pp. 471-503

Adam Honig

The Effectiveness of Consumption Taxes and Transfers as Insurance Against Idiosyncratic Risk pp. 505-530

Tomoyuki Nakajima and Shuhei Takahashi

Mad about Austerity? The Effect of Fiscal Consolidation on Public Opinion pp. 531-548

Anna Kalbhenn and Livio Stracca

Credit Crunches from Occasionally Binding Bank Borrowing Constraints pp. 549-582

Tom Holden, Paul Levine and Jonathan Swarbrick

Voluntary Reserve Targets pp. 583-612

Garth Baughman and Francesca Carapella

Financial Shocks and Corporate Investment in Emerging Markets pp. 613-644

Delong Li, Nicolas Magud and Fabian Valencia

Volume 52, issue 1, 2020

The Local Aggregate Effects of Minimum Wage Increases pp. 5-35

Daniel Cooper, María José Luengo‐prado and Jonathan Parker

Nominal GDP Targeting with Heterogeneous Labor Supply pp. 37-77

James Bullard and Aarti Singh

Financial Dampening pp. 79-113

Johannes Wieland and Mu‐jeung Yang

U.S. Banking Sector Operational Losses and the Macroeconomic Environment pp. 115-144

Azamat Abdymomunov, Filippo Curti and Atanas Mihov

Seven Fallacies Concerning Milton Friedman's “The Role of Monetary Policy” pp. 145-164

Edward Nelson

Employment in the Great Recession: How Important Were Household Credit Supply Shocks? pp. 165-203

Daniel García

Asymmetry, Complementarities, and State Dependence in Federal Reserve Forecasts pp. 205-228

Julieta Caunedo, Riccardo DiCecio, Ivana Komunjer and Michael Owyang

Fiscal Requirements for Dynamic and Real Determinacies in Economies with Private Provision of Liquidity: A Monetarist Assessment pp. 229-267

Pedro Gomis‐porqueras

Nominal GDP Targeting and the Taylor Rule on an Even Playing Field pp. 269-286

David Beckworth and Joshua Hendrickson