Volume 44 (2012)

Number 1 (February 2012)

 
ARTICLES
 
Jae Won Lee, "Aggregate Implications of Heterogeneous Households in a Sticky-Price Model" 
   
Efrem Castelnuovo, "Estimating the Evolution of Money’s Role in the U.S. Monetary Business Cycle" (Data Archive)
 
Jean-Marc Natal, "Monetary Policy Response to Oil Price Shocks" (Data Archive)
    
Jian Wang and Jason Wu, "The Taylor Rule and Forecast Intervals for Exchange Rates" (Data Archive)
  
Sharon Kozicki and Peter Tinsley, "Effective Use of Survey Information in Estimating the Evolution of Expected Inflation" (Data Archive)
 
David C. Wheelock and Paul W. Wilson, "Do Large Banks Have Lower Costs?  New Estimates of Returns to Scale for U.S. Banks" 
  
Fabio Catiglionesi and Wolf Wagner, "Turning Bagehot on His Head:  Lending at Penalty Rates When Banks Can Become Insolvent" 
 
SHORTER PAPERS, DISCUSSIONS, AND LETTERS
 
Fabrice Collard and Harris Dellas, "Flexible Prices and the Business Cycle" 
 
Jeremy J Nalewaik, "Estimating Probabilities of Recession in Real Time Using GDP and GDI" (Data Archive)
 

Numbers 2-3 (March-April 2012)

ARTICLES
 
Henning Weber, “Product Replacement Bias in Inflation and Its Consequences for Monetary Policy” (Data Archive
      
Vikas Kakkar and Isabel Yan, “Real Exchange Rates and Productivity:  Evidence from Asia” (Data Archive
 
Dieter Nautz and Sandra Schmidtm, “Central Bank Communication and the Perception of Monetary Policy by Financial Market Experts” (Data Archive
      
Seth Pruitt, “Uncertainty over Models and Data: The Rise and Fall of American Inflation” (Data rchive
  
Giovanni Dell’Ariccia, Deniz Igan and Luc Laeven, “Credit Booms and Lending Standards:  Evidence from the Subprime Mortgage Market” (Data Archive)
 
Burton A. Abrams and James L. Butkiewicz, “The Political Business Cycle:  New Evidence from the Nixon Tapes” (Data Archive
 
Olivier Coibion and Daniel Goldstein, “One for Some or One for All?  Taylor Rules and Interregional Heterogeneity” (Data Archive
 
Carlos D. Ramirez and Philip A. Shivley, “The Effect of Bank Failures on Economic Activity:  Evidence from U.S. States in the Early 20th Century” (Data Archive
 
SHORTER PAPERS, DISCUSSIONS, AND LETTERS
 
Guido Ascari and Tiziano Ropele, “Sacrifice Ratio in a Medium-Scale New Keynesian Model” (Data Archive
 
Taeyoung Doh, “What Does the Yield Curve Tell Us about the Federal Reserve’s Implicit Inflation Target?”  (Data Archive
 
Pengfei Wang, “Understanding Expectation-Driven Fluctuations—A Labor-Market Approach” (Data Archive)
Benjamin Born and Gernot J. Müller, "Government Spending Shocks in Quarterly and Annual Time Series" (Data Archive)
 
Donald P. Morgan, Michael R. Strain, and Ihab Seblani, "Payday Credit Access, Overdrafts, and Other Outcomes" (Data Archive)
 
Young Sik Kim and Manjong Lee, "Return on Commodity Money, Small Change Problems, and Fiat Money"
 

Number 4 (June 2012)

 
ARTICLES

Jonathan G. James and Phillip Lawler, "Strategic Complementarity, Stabilization Policy, and the Optimal Degree of Publicity" 
   
Ruby Kishan and Timothy P. Opiela, "Monetary Policy, Bank Lending and the Risk-Pricing Channel" 
 
Katrin Rabitsch, The Role of Financial Market Structure and the Trade Elasticity for Monetary Policy in Open Economies (Data Archive
   
Sadi Ozelge and Anthony Saunders, "The Role of Lending Banks in Forced CEO Turnovers" (Data Archive)
  
W. Scott Frame, Diana Hancock, and Wayne Passmore, "Federal Home Loan Bank Advances and Commercial Bank Portfolio Composition" (Data Archive)
 
Tristian Auvray and Olivier Brossard, "Too Dispersed to Monitor?  Ownership Dispersion, Monitoring and the Prediction of Bank Distress" (Data Archive
  
SHORTER PAPERS, DISCUSSIONS, AND LETTERS
 
Antonello d’Agostino, Kieran McQuinn, and Karl Whelan, "Are Some Forecasters Really Better Than Others?" (Data Archive
 
Richard C.K. Burdekin, Kris James Mitchner, and Marc Weidenmier, "Irving Fisher and Price-Level Targeting in Austria:  Was Silver the Answer?" (Data Archive
 

Number 5 (August 2012)


ARTICLES

Richard Dutu, Benôit Julien, and Ian Paul King, "On the Welfare Gains of Price Dispersion"
   
Firouz Gahvari, "The Friedman Rule in a Model with Endogneous Growth and Cash-in-Advance Constraint"

Fabrizio Mattesini and Lorenza Rossi, "Monetary Policy and Automatic Stabilizers:  The Role of Progressive Taxation"(Data Archive)
 
Andrea Ferrero, "The Advantage of Flexible Targeting Rules" (Data Archive)

Dan Galai and Zvi Weiner, "Credit Risk Spreads in Local and Foreign Currencies"

Morten L. Bech and Rodney J. Garratt, "Illiquidity in the Interbank Payment System Following Wide-Scale Disruptions"
 
Andra Ghent, "Sticky Mortgages and the Real Effects of Monetary Policy" (Data Archive)

SHORTER PAPERS, DISCUSSIONS, AND LETTERS

Simon Corne, David Masclet and Gervais Thenet, "Credit Relationships:  Evidende from Experiments with Real Bankers" (Data Archive)

Christian Stoltenberg, "Real Balance Effects, Timing and Equilibrium Determination"
 
Jean-Olivier Hairault and François Langot, "Markups and the Welfare Cost of Business Cycles:  A Reappraisal"

 

Number 6 (September 2012)


ARTICLES

Editors’ Note
      
John B Taylor, "Monetary Policy Rules Work and Discretion Doesn’t:  A Tale of Two Eras"

Gregory E. Givens, "Estimating Central Bank Preferences under Commitment and Discretion" (Data Archive)
    
Cem Demiroglu, Christopher James, and Atay Kizilaslan, "Bank Lending Standards and Access to Lines of Credit" (Data Archive)
 
Xiaoshan Chen and Ronald MacDonald, "Realised and Optimal Monetary Policy Rules in an Estimated Markov-Switching DSGE Model of the United Kingdom" (Data Archive)

Reint Gropp and Arjan Kadareja, "Stale Information, Shocks and Volatility" (Data Archive)
 
Thomas B. Fomby, Jeffrey W. Gunther, and Jian Hu, "Return Dependence and the Limits of Product Diversification in Financial Firms"
 
Kenneth Kopecky and David D. VanHoose, "Imperfect Competition in Bank Retail Markets, Deposit and Loan Rate Dynamics, and Incomplete Pass Through"

SHORTER PAPERS, DISCUSSIONS, AND LETTERS

Stephanie Schmitt-Grohe and Martin Uribe, "Foreign Demand for Domestic Currency and the Optimal Rate of Inflation" (Data Archive)

Nao Sudo, "Sectoral Co-movement, Monetary-Policy Shock, and Input-Output Structure" (Data Archive)

Malte Krüger, "Money:  A Market Microstructure Approach"

Number 7 (October 2012)

ARTICLES

George W Evans, Seppo Honkapohja and Kaushik Mitra, "Does Ricardian Equivalence Hold When Expectations Are Not Rational?"
   
Eric Olson and Walters Enders, "An Historical Analysis of the Taylor Curve" (Data Archive)

Marcin Kolasa, Michaƚ Rubaszek and Paweƚ Skrzypczyński, "Putting the New Keynesian DSGE Model to the Real-Time Forecasting Test" (Data Archive)
 
Michael J. Lamla and Thomas Maag, "The Role of Media for Inflation Forecast Disagreement of Households and Professional Forecasters" (Data Archive)

Giorgio Motta and Patrizio Tirelli, "Optimal Simple Monetary and Fiscal Rules under Limited Asset Market Participation" (Data Archive)

Luigi Paciello, "Monetary Policy and Price Responsiveness to Aggregate Shocks under Rational Inattention"

Philomena M. Bacon and Peter G. Moffatt, "Mortgage Choice as a Natural Field Experiment on Choice Under Risk"

SHORTER PAPERS, DISCUSSIONS, AND LETTERS

Hervé Le Bihan and Julien Matheron, "Price Stickiness and Sectoral Inflation Persistence:  Additional Evidence" (Data Archive)

Edda Claus and Mardi Dungey, "US Monetary Policy Surprises:  Identification with Shifts and Rotations in the Term Structure" (Data Archive)
 
Romain Duval and Lukas Vogel, "How Do Nominal and Real Rigidities Interact?  A Tale of the Second Best" (Data Archive)

Number 8 (December 2012)

ARTICLES

Robert Amano and Malik Shukayev, "Risk Premium Shocks and the Zero Bound on Nominal Interest Rates" (Data Archive)
   
Chih-nan Chen, Tsutomu Watanabe and Tomoyoshi Yabu, "A New Method for Identifying the Effects of Foreign Exchange Interventions" (Data Archive)

Hashmat Khan and John D. Tsoukalas, "The Quantitative Importance of News Shocks in Estimated DSGE Models" (Data Archive)
   
Joseph W. Gruber and Steven B. Kamin, "Fiscal Positions and Government Yields in OECD Countries"
 
Wagner Piazza Gaglianone and Luiz Renato Lima, "Constructing Density Forecasts from Quantile Regressions" (Data Archive)

Santiago Carbo-Valverde, Edward J. Kane and Francisco Rodriguez-Fernandez, Regulatory Arbitrage in "Cross-Border Banking Mergers within the EU" (Data Archive)

Philip Vermeulen, Daniel Dias, Maarten Dossche, Erwan Gautier, Ignacio Hernando, Roberto Sabbatini and Harald Stahl, "Price Setting in the Euro Area:  Some Stylised Facts from Individual Producer Price Data"

SHORTER PAPERS, DISCUSSIONS, AND LETTERS

Hubert Kiss, Ismael Rodriguez-Lara and Alfonso Rosa-García, "On the Effects of Deposit Insurance and Observability on Bank Runs:  An Experimental Study" (Data Archive and Appendix)

Fabio Milani and John Treadwell, "The Effects of Monetary Policy “News” and “Surprises”' (Data Archive and Appendix)

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