Volume 46 (2014)

Number 1 (February 2014)



The Allocation of Aggregate Risk, Secondary Market Trades and Financial Boom-Bust Cycles (Data Archive), Paul Baudry and Amartya Lahiri
Legal Traditions and Initial Endowments in Shaping the Path of Financial Development (Data Archive), Daniel Oto-Peralías and Diego Romero-Ávila
Deep Habits in the New Keynesian Phillips Curve (Data Archive), Thomas A. Lubik and Wing Leong Teo
Labor Selection, Turnover Costs and Optimal Monetary Policy (Data Archive), Ester Faia, Wolfgang Lechthaler, and Christian Merkl
Location Decisions of Foreign Banks and Competitive Advantage, Stijn Claessens and Neeltje van Horen
Bank Earnings Management and Tail Risk during the Financial Crisis, Lee J. Cohen, Marcia Millon Cornett, Alan J. Marcus, and Hassan Tehranian
Who Anticipated the Great Depression?  Gustav Cassel versus Keynes and Hayek on the Interwar Gold Standard, Douglas A. Irwin


Divisia Monetary Aggregates, the Great Ratios, and Classical Money Demand Functions, Apostolos Serletis and Periklis Gogas
Indeterminacy and Forecastability (Data Archive), Ippei Fujiwara and Yasuo Hirose

Number 1S1 (February 2014)



Editors’ Introduction, Thorsten Beck, Jakob de Haan, and Robert DeYoumg
Banks’ Liquidity and the Cost of Liquidity to Corporations, Vitaly M. Bord and João A.C. Santos
Discussion of Bord and Santos, John O.S. Wilson
The Home Bias and the Credit Crunch:  A Regional Perspective (Data Archive), Andrea F. Presbitero, Gregory F. Udell, and Alberto Zazzaro
Discussion of Presbitero, Udell and Zazzaro, Steven Ongena
Sovereign Credit Risk, Banks’ Government Support, and Bank Stock Returns around the World, Ricardo Correa, Kuan-Hui Lee, Horacio Sapriza, and Gustavo Suarez
Discussion of Correa, Lee, Sapriza, and Suarez, Reint Gropp
Financial Sector in Flux, Arnoud W.A. Boot
The Future Financial System, Stephen G. Cecchetti
Our Financial Structures—Are They Prepared for Financial Instability? (12-395), Eric S. Rosengren
Maintaining Adequate Bank Capital (12-465), Mark J. Flannery
Does Macro-pru Leak?  Evidence from a UK Policy Experiment, Shekhar Aiyar, Charles W. Calomiris, and Tomasz Wieladek
Discussion of Aiyar, Calomiris, and Wieladek, Joe Peek
Too Big to be Efficient?  The Impact of Implicit Subsidies on Estimates of Scale Economies for Banks (Data Archive), Richard Davies and Belinda Tracey
Discussion of Davies and Tracey, Robert DeYoung
Bank Bonuses and Bail-Outs, Hendrik Hakenes and Isabel Schnabel
Discussion of Hakenes and Schnabel, Fabio Castiglionesi
Foreign Banks:  Trends and Impacts, Stijn Claessens and Neeltje van Horen
Discussion of Clasessens and van Horen, David Marqués-Ibañez
Multinational Banks and the Global Financial Crisis.  Weathering the Perfect Storm? (Data Archive), Ralph De Haas and Iman van Lelyveld
Discussion of De Haas and Van Lelyveld, Hans Degryse


Number 2 (March-April 2014)



Trend Inflation and the Nature of Structural Breaks in the New Keynesian Phillips Curve, (Data Archive), Chang-Jin Kim, Pym Manopimoke, and Charles R. Nelson

Which Fundamentals Drive Exchange Rates?  A Cross-Sectional Perspective (Data Archive), Lucio Sarno and Maik Schmeling

Returns to Scale, Market Power, and the Nature of Price Rigidity in New Keynesian Models with Self-Fulfilling Expectations (Data Archive), Kevin X.D. Huang and Qinglai Meng

 Sovereign Default, Credit to the Private Sector and Domestic Credit Market Institutions, Guido Sandleris

Economic Policy and the Great Depression in a Small Open Economy (Data Archive), Jonathan Payne and Lawrence Uren

Financial Aspects of Business Cycles:  An Analysis of Balance Sheet Adjustments of U.S. Nonfinancial Enterprises Over the Twentieth Century (Data Archive), Robert E. Krainer

Liquidity Coinsurance and Bank Capital (Data Archive), Fabio Castiglionesi, Fabio Ferrozzi, Gyöngyi Lóranth, and Loriana Pelizzon

Foreign Entry into Underwriting Services:  Evidence from Japan’s “Big Bang” Deregulation, Jose A. Lopez and Mark M. Spiegel

Reason for Reserve?  Reserve Requirements and Credit (Data Archive), Nada Mora


Finance and Property Rights:  Exploring Other Directions (Data Archive), Niloy Bose, Antup Panini Murshid, and Chitralekha Rath

Business Cycle Implications of Internal Consumption Habit for New Keynesian Models (Data Archive), Takashi Kano and James M. Nason

Credit Indicators as Predictors of Economic Activity:  A Real-Time VAR Analysis (Data Archive), N. Kundan Kishor and Evan F. Koenig