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 47, issue S2, 2015

Special Issue Editors' Introduction pp. 1-1

Paul Evans and Pok‐sang Lam

Financial Frictions: An Introduction pp. 3-6

Cyril Monnet

More on Middlemen: Equilibrium Entry and Efficiency in Intermediated Markets pp. 7-37

Ed Nosal, Yuet‐yee Wong and Randall Wright

Monetary Policy and Asset Prices: A Mechanism Design Approach pp. 39-76

Tai‐wei Hu and Guillaume Rocheteau

Competing for Order Flow in OTC Markets pp. 77-126

Benjamin Lester, Guillaume Rocheteau and Pierre-Olivier Weill

The Over‐the‐Counter Theory of the Fed Funds Market: A Primer pp. 127-154

Gara Afonso and Ricardo Lagos

Financial Frictions, Investment Delay, and Asset Market Interventions pp. 155-196

Shouyong Shi and Christine Tewfik

Keynesian Inefficiency and Optimal Policy: A New Monetarist Approach pp. 197-222

Stephen Williamson

Financial Innovations, Money Demand, and the Welfare Cost of Inflation pp. 223-261

Aleksander Berentsen, Samuel Huber and Alessandro Marchesiani

Volume 47, issue S1, 2015

Conference on Housing, Stability, and the Macroeconomy: International Perspectives pp. 1-11

Rabah Arezki, Thorsten Beck, Robert Deyoung, John Duca, Prakash Loungani and Anthony Murphy

Opening Remarks pp. 13-17

Stijn Claessens

Housing, Leverage, and Stability in the Wider Economy pp. 19-36

David Miles

The Housing and Credit Bubbles in the United States and Europe: A Comparison pp. 37-42

Susan Wachter

Housing Really Is the Business Cycle: What Survives the Lessons of 2008–09? pp. 43-50

Edward Leamer

Housing and the Macroeconomy: Inflation and the Financial Accelerator pp. 51-58

John Muellbauer

An International Perspective for Mortgage Market Reform pp. 59-67

Dwight M. Jaffee

Real Estate Markets and Macroprudential Policy in Europe pp. 69-80

Philipp Hartmann

Building Stable Mortgage Markets: Lessons from Canada's Experience pp. 81-86

Allan Crawford

Explaining House Price Dynamics: Isolating the Role of Nonfundamentals pp. 87-125

David Ling, Joseph Ooi and Thao T.T. Le

Discussion of Ling, Ooi, and Le pp. 127-132

Kevin Lansing

Joint Dynamics of House Prices and Foreclosures pp. 133-169

Yavuz Arslan, Bulent Guler and Temel Taskin

Discussion of Arslan, Guler, and Taskin pp. 171-174

Paul Willen

The Impact of Housing Markets on Consumer Debt: Credit Report Evidence from 1999 to 2012 pp. 175-213

Meta Brown, Sarah Stein and Basit Zafar

Discussion of Brown, Stein, and Zafar pp. 215-220

Karen Pence

Capital Inflows and the U.S. Housing Boom pp. 221-256

Filipa Sá and Tomasz Wieladek

Discussion of Sá and Wieladek pp. 257-260

Pedro Gete

House Price Booms, Current Account Deficits, and Low Interest Rates pp. 261-293

Andrea Ferrero

Discussion of Ferrero pp. 295-299

Edward Leamer

Global Liquidity, House Prices, and the Macroeconomy: Evidence from Advanced and Emerging Economies pp. 301-335

Ambrogio Cesa‐bianchi, Luis Cespedes and Alessandro Rebucci

Discussion of Cesa‐Bianchi, Cespedes, and Rebucci pp. 337-342

Kenneth Kuttner

Macroprudential Policies and Housing Prices: A New Database and Empirical Evidence for Central, Eastern, and Southeastern Europe pp. 343-377

Jérôme Vandenbussche, Ursula Vogel and Enrica Detragiache

Discussion of Vandenbussche, Vogel, and Detragiache pp. 379-381

Thorsten Beck

Optimal Monetary Policy Rules and House Prices: The Role of Financial Frictions pp. 383-410

Alessandro Notarpietro and Stefano Siviero

Discussion of Notarpietro and Siviero pp. 411-417

Zheng Liu

Important Questions for Housing Markets and Housing Policy pp. 419-421

Stijn Claessens

Volume 47, issue 8, 2015

More Facts about Prices: France Before and During the Great Recession pp. 1465-1502

Nicoletta Berardi, Erwan Gautier and Hervé Le Bihan

Trust Me! I am a European Central Banker pp. 1503-1530

Dirk Bursian and Sven Fürth

Strategic Interactions and Portfolio Choice in Money Management: Theory and Evidence pp. 1531-1569

Alvaro Pedraza

Corporate Debt Structure and the Financial Crisis pp. 1571-1598

Fiorella De Fiore and Harald Uhlig

Interwar Inflation, Unexpected Inflation, and Output Growth pp. 1599-1615

Bill Dorval and Gregor Smith

Exchange Rate Pass‐Through, Domestic Competition, and Inflation: Evidence from the 2005–08 Revaluation of the Renminbi pp. 1617-1650

Raphael Auer

Fundamentals and Exchange Rate Prediction Revisited pp. 1651-1671

Yi‐chiuan Wang and Jyh‐lin Wu

Do Inflation Expectations Propagate the Inflationary Impact of Real Oil Price Shocks?: Evidence from the Michigan Survey pp. 1673-1689

Benjamin Wong

Volume 47, issue 7, 2015

Credit Availability and the Collapse of the Banking Sector in the 1930s pp. 1239-1271

Mark Carlson and Jonathan Rose

Learning, Monetary Policy, and Asset Prices pp. 1273-1307

Marco Airaudo, Salvatore Nisticò and Luis‐felipe Zanna

Understanding Housing Market Volatility pp. 1309-1337

Joseph Fairchild, Jun Ma and Shu Wu

News Shocks in the Data: Olympic Games and Their Macroeconomic Effects pp. 1339-1367

Markus Brückner and Evi Pappa

Saving the Euro: Mitigating Financial or Trade Spillovers? pp. 1369-1402

Stijn Claessens, Hui Tong and Igor Zuccardi

Are Market‐Based Measures of Global Systemic Importance of Financial Institutions Useful to Regulators and Supervisors? pp. 1403-1442

Qi Zhang, Francesco Vallascas, Kevin Keasey and Charlie X. Cai

Investment‐Specific News Shocks and U.S. Business Cycles pp. 1443-1464

Nadav Ben Zeev and Hashmat Khan

Volume 47, issue 6, 2015

Private Money and Banking Regulation pp. 1031-1062

Cyril Monnet and Daniel Sanches

The Dynamics of Gasoline Prices: Evidence from Daily French Micro Data pp. 1063-1089

Erwan Gautier and Ronan Le Saout

The Age of the Dragon: The Effect of Imports from China on Firm‐Level Prices pp. 1091-1118

Matteo Bugamelli, Silvia Fabiani and Enrico Sette

Optimal Monetary Policy with Labor Market Frictions: The Role of the Wage Channel pp. 1119-1147

Takeki Sunakawa

Responding to a Shadow Banking Crisis: The Lessons of 1763 pp. 1149-1176

Stephen Quinn and William Roberds

OTC Clearing Arrangements for Bank Systemic Risk Regulation: A Simulation Approach pp. 1177-1203

Olga Lewandowska

The Influence of Foreclosure Delays on Borrowers' Default Behavior pp. 1205-1222

Shuang Zhu and R. Kelley Pace

The Impact of Uncertainty Shocks under Measurement Error: A Proxy SVAR Approach pp. 1223-1238

Andrea Carriero, Haroon Mumtaz, Konstantinos Theodoridis and Angeliki Theophilopoulou

Volume 47, issue 5, 2015

Did the Reserve Requirement Increases of 1936–37 Reduce Bank Lending? Evidence from a Quasi‐Experiment pp. 791-818

Haelim Park and Patrick van Horn

Household Response to Government Debt: Evidence from Life Insurance Holdings pp. 819-845

Steven Craig, Edward C. Hoang and Dietrich Vollrath

Forecasting National Recessions Using State‐Level Data pp. 847-866

Michael Owyang, Jeremy Piger and Howard Wall

Heterogeneous Inflation Expectations and Learning pp. 867-896

Carlos Madeira and Basit Zafar

Cross‐Listed Bonds, Information Asymmetry, and Conservatism in Credit Ratings pp. 897-929

Yigit Atilgan, Aloke (al) Ghosh, Meng Yan and Jieying Zhang

A Reconsideration of Minsky's Financial Instability Hypothesis pp. 931-973

Sudipto Bhattacharya, Charles A.E. Goodhart, Dimitrios Tsomocos and Alexandros P. Vardoulakis

Fiscal Transfers and Fiscal Sustainability pp. 975-1005

Niklas Potrafke and Markus Reischmann

Distance, Language, Religion, and the Law of One Price: Evidence from Canada and Nigeria pp. 1007-1029

David Fielding, Christopher Hajzler and James (Jim) MacGee

Volume 47, issue 4, 2015

Price Stability in Economies with Habit Persistence pp. 517-549

Yongseung Jung

The Time‐Varying Volatility of Earnings and Aggregate Consumption Growth pp. 551-580

Lorenzo Pozzi

Temptation and Self‐Control: Some Evidence and Applications pp. 581-615

Kevin Huang, Zheng Liu and John Qi Zhu

Optimal Fiscal and Monetary Policy in Customer Markets pp. 617-672

David Arseneau, Ryan Chahrour, Sanjay Chugh and Alan Finkelstein Shapiro

Using Survey Data of Inflation Expectations in the Estimation of Learning and Rational Expectations Models pp. 673-699

Arturo Ormeño and Krisztina Molnar

The Monitoring Incentive of Transactional and Relationship Lenders: Evidence from the Syndicated Loan Market pp. 701-735

Yutao Li, Anthony Saunders and Pei Shao

The Repository of Soft Information within Bank Organizations pp. 737-770

Masazumi Hattori, Kohei Shintani and Hirofumi Uchida

Do Central Bank Forecasts Influence Private Agents? Forecasting Performance versus Signals pp. 771-789

Paul Hubert

Volume 47, issue 2-3, 2015

Payday Loan Choices and Consequences pp. 223-260

Neil Bhutta, Paige Marta Skiba and Jeremy Tobacman

On‐the‐Job Learning and News‐Driven Business Cycles pp. 261-294

Kuan‐jen Chen and Ching-chong Lai

Nominal Interest Rates and the News pp. 295-332

Michael Bauer

Ben Bernanke and Bagehot's Rules pp. 333-348

Thomas Hogan, Linh Le and Alexander Salter

Are Professional Macroeconomic Forecasters Able To Do Better Than Forecasting Trends? pp. 349-382

Michael Clements

Monetary Policy and the Natural Rate of Interest pp. 383-414

Matthew Canzoneri, Robert Cumby and Behzad Diba

Does Securitization of Corporate Loans Lead to Riskier Lending? pp. 415-444

Vitaly M. Bord and Joao Santos

Interest Rates and Credit Risk pp. 445-480

Carlos González‐aguado and Javier Suarez

Deep Habits, Price Rigidities, and the Consumption Response to Government Spending pp. 481-510

Punnoose Jacob

On the Structural Interpretation of the Smets–Wouters “Risk Premium” Shock pp. 511-516

Jonas Fisher

Volume 47, issue 1, 2015

Figuring Out the Fed—Beliefs about Policymakers and Gains from Transparency pp. 1-29

Christian Matthes

Emerging Market Business Cycles: The Role of Labor Market Frictions pp. 31-72

Emine Boz, C. Bora Durdu and Nan Li

The Meta Taylor Rule pp. 73-98

Kevin Lee, James Morley and Kalvinder Shields

In Old Chicago: Simons, Friedman, and the Development of Monetary‐Policy Rules pp. 99-121

George Tavlas

Dynamics and Heterogeneity of Inter‐ and Intranational Risk Sharing pp. 123-142

Chun‐yu Ho and Wai‐yip Alex Ho

Simple Banking: Profitability and the Yield Curve pp. 143-175

Piergiorgio Alessandri and Benjamin Nelson

Does the European Financial Stability Facility Bail Out Sovereigns or Banks? An Event Study pp. 177-206

Balint Horvath and Harry Huizinga

Survey Measures of Expected Inflation and the Inflation Process pp. 207-222

Bharat Trehan