Journal of Monetary Economics

1975 - 2025

Continuation of Carnegie-Rochester Conference Series on Public Policy.

Current editor(s): R. G. King and C. I. Plosser

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Volume 49, issue 8, 2002

Real and nominal effects of central bank monetary policy pp. 1493-1519

Michael Kahn, Shmuel Kandel and Oded Sarig

The effect of inflation targeting on the behavior of expected inflation: evidence from an 11 country panel pp. 1521-1538

David Johnson

Learning-by-doing and aggregate fluctuations pp. 1539-1566

Russell Cooper and Alok Johri

Welfare implications of the Bankruptcy Reform Act of 1999 pp. 1567-1595

Kartik Athreya

Reserve requirements and output fluctuations pp. 1597-1620

Benjamin Bental and Benjamin Eden

On the efficiency of monetary exchange: how divisibility of money matters pp. 1621-1649

Aleksander Berentsen and Guillaume Rocheteau

Volume 49, issue 7, 2002

Optimal state-dependent rules, credibility, and inflation inertia pp. 1317-1336

Heitor Almeida and Marco Bonomo

Moral hazard, optimal unemployment insurance, and experience rating pp. 1337-1371

Cheng Wang and Stephen Williamson

Does deposit insurance increase banking system stability? An empirical investigation pp. 1373-1406

Asli Demirguc-Kunt and Enrica Detragiache

An evolutionary model of debt pp. 1407-1438

Mary Burke and Kislaya Prasad

Time diversification, liquidity constraints, and decreasing aversion to risk on wealth pp. 1439-1459

Christian Gollier

Housing taxation and capital accumulation pp. 1461-1489

Martin Gervais

Volume 49, issue 6, 2002

Learning about monetary policy rules pp. 1105-1129

James Bullard and Kaushik Mitra

Monetary disturbances matter for business fluctuations in the G-7 pp. 1131-1159

Fabio Canova and Gianni De Nicolo

Term structure evidence on interest rate smoothing and monetary policy inertia pp. 1161-1187

Glenn Rudebusch

Common stochastic trends, common cycles, and asymmetry in economic fluctuations pp. 1189-1211

Chang-Jin Kim and Jeremy Piger

The welfare costs of worker displacement pp. 1213-1234

Richard Rogerson and Martin Schindler

Deposit insurance: a reconsideration pp. 1235-1260

John H. Boyd, Chun Chang and Bruce Smith

Habit formation: a resolution of the equity premium puzzle? pp. 1261-1288

Christopher Otrok, B Ravikumar and Charles Whiteman

The business cycle effects of Christmas pp. 1289-1314

Yi Wen

Volume 49, issue 5, 2002

A simple framework for international monetary policy analysis pp. 879-904

Richard Clarida, Jordi Galí and Mark Gertler

Comment on: A simple framework for international monetary policy analysis pp. 905-912

Edward Nelson

Exchange rate pass-through, exchange rate volatility, and exchange rate disconnect pp. 913-940

Michael Devereux and Charles Engel

Comment on: Exchange rate pass-through, exchange rate volatility, and exchange rate disconnect pp. 941-946

Margarida Duarte and Alan Stockman

Openness, imperfect exchange rate pass-through and monetary policy pp. 947-981

Frank Smets and Raf Wouters

Comment on: Openness, imperfect exchange rate pass-through and monetary policy pp. 983-988

Dale Henderson

Monetary policy rules in the open economy: effects on welfare and business cycles pp. 989-1015

Robert Kollmann

Comment on: Monetary policy rules in the open economy: effects on welfare and business cycles pp. 1017-1023

Andrew Levin

Time-varying liquidity in foreign exchange pp. 1025-1051

Martin Evans and Richard Lyons

Comment on:: Time varying liquidity in foreign exchange pp. 1053-1055

Robert Hodrick

Net foreign assets and the exchange rate: Redux revived pp. 1057-1097

Michele Cavallo and Fabio Ghironi

Comment on: Net foreign assets and the exchange rate: Redux revived pp. 1099-1102

Philip Lane

Volume 49, issue 4, 2002

Shrinking money: the demand for money and the nonneutrality of money pp. 653-686

Harold Cole and Lee Ohanian

Direct effects of base money on aggregate demand: theory and evidence pp. 687-708

Edward Nelson

Has fiscal policy helped stabilize the postwar U.S. economy? pp. 709-746

John Jones

Changes in risk and asset prices pp. 747-760

Christian Gollier and Harris Schlesinger

On inflation as a regressive consumption tax pp. 761-795

Andres Erosa and Gustavo Ventura

Sticky prices: the impact of regulation pp. 797-821

Albert S. Dexter, Maurice Levi and Barrie R. Nault

On the dynamic effects of oil price shocks: a study using industry level data pp. 823-852

Kiseok Lee and Shawn Ni

Financial crisis and credit crunch in Korea: evidence from firm-level data pp. 853-875

Eduardo Borensztein and Jong-Wha Lee

Volume 49, issue 3, 2002

What if Alexander Hamilton had been Argentinean? A comparison of the early monetary experiences of Argentina and the United States pp. 459-494

Michael Bordo and Carlos Vegh

Aggregate employment, real business cycles, and superior information pp. 495-520

Martin Boileau and Michel Normandin

Velocity innovations, financial markets, and the real economy pp. 521-532

Flavio Padrini

The price-consumption puzzle of currency pegs pp. 533-569

Martín Uribe

Exchange rate systems and macroeconomic stability pp. 571-599

Fabrice Collard and Harris Dellas

Financial autarky and international business cycles pp. 601-627

Jonathan Heathcote and Fabrizio Perri

Real exchange rates and real interest differentials: implications of nonlinear adjustment in real exchange rates pp. 629-649

Hironobu Nakagawa

Volume 49, issue 2, 2002

Editorial data pp. 235-235

O. Meesters

Central bank reform, liberalization and inflation in transition economies--an international perspective pp. 237-264

Alex Cukierman, Geoffrey P. Miller and Bilin Neyapti

Prices and unit labor costs: a new test of price stickiness pp. 265-292

Argia Sbordone

Intertemporal non-separability and "rule of thumb" consumption pp. 293-308

Christian Weber

Idiosyncratic risk and the equity premium: evidence from the consumer expenditure survey pp. 309-334

Timothy Cogley

The conventional treatment of seasonality in business cycle analysis: does it create distortions? pp. 335-364

Lawrence Christiano and Richard M. Todd

Dissecting the cycle: a methodological investigation pp. 365-381

Don Harding and Adrian Pagan

Marginal income tax rates in the United States: a non-parametric approach pp. 383-404

Hafiz Akhand and Haoming Liu

Staggered price-setting, staggered wage-setting, and business cycle persistence pp. 405-433

Kevin Huang and Zheng Liu

Government transaction policy and Gresham's law pp. 435-453

Yiting Li

Input and output inventories: errata pp. 455-455

Brad Humphreys, Louis Maccini and Scott Schuh

Volume 49, issue 1, 2002

Stock volatility in the new millennium: how wacky is Nasdaq? pp. 3-26

G. Schwert

Comment on:: Stock volatility in the new millennium: how wacky is Nasdaq? pp. 27-30

Burton Hollifield

Time-varying risk premia and the cost of capital: An alternative implication of the Q theory of investment pp. 31-66

Martin Lettau and Sydney Ludvigson

Comment on: Time-varying risk premia and the cost of capital: an alternative implication of the Q theory of investment pp. 67-74

Janice Eberly

Monetary policy and asset prices pp. 75-97

Simon Gilchrist and John Leahy

Comment on: Monetary policy and asset prices pp. 99-106

Bill Dupor

Time orientation and asset prices pp. 107-135

Per Krusell, Burhanettin Kuruscu and Anthony Smith

Comment on: Time orientation and asset prices pp. 137-138

Qiang Dai

Investor psychology in capital markets: evidence and policy implications pp. 139-209

Kent Daniel, David Hirshleifer and Siew Hong Teoh

Comment on: Investor psychology in capital markets pp. 211-214

Jeffrey Wurgler

Are behavioral asset-pricing models structural? pp. 215-228

Stanley Zin

Comment on: Are behavioral asset-pricing models structural? pp. 229-233

Jessica Wachter