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Volume 44 (2012)

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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"
 
Jean-Marc Natal, "Monetary Policy Response to Oil Price Shocks"
    
Jian Wang and Jason Wu, "The Taylor Rule and Forecast Intervals for Exchange Rates"
  
Sharon Kozicki and Peter Tinsley, "Effective Use of Survey Information in Estimating the Evolution of Expected Inflation"
 
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"

ARTICLES

 
Henning Weber, “Product Replacement Bias in Inflation and Its Consequences for Monetary Policy”
      
Vikas Kakkar and Isabel Yan, “Real Exchange Rates and Productivity:  Evidence from Asia”
 
Dieter Nautz and Sandra Schmidtm, “Central Bank Communication and the Perception of Monetary Policy by Financial Market Experts”
      
Seth Pruitt, “Uncertainty over Models and Data: The Rise and Fall of American Inflation”
  
Giovanni Dell’Ariccia, Deniz Igan and Luc Laeven, “Credit Booms and Lending Standards:  Evidence from the Subprime Mortgage Market”
 
Burton A. Abrams and James L. Butkiewicz, “The Political Business Cycle:  New Evidence from the Nixon Tapes”
 
Olivier Coibion and Daniel Goldstein, “One for Some or One for All?  Taylor Rules and Interregional Heterogeneity”
 
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”
 

SHORTER PAPERS, DISCUSSIONS, AND LETTERS

 
Guido Ascari and Tiziano Ropele, “Sacrifice Ratio in a Medium-Scale New Keynesian Model”
 
Taeyoung Doh, “What Does the Yield Curve Tell Us about the Federal Reserve’s Implicit Inflation Target?”
 
Pengfei Wang, “Understanding Expectation-Driven Fluctuations—A Labor-Market Approach”
 
Benjamin Born and Gernot J. Müller, "Government Spending Shocks in Quarterly and Annual Time Series"
 
Donald P. Morgan, Michael R. Strain, and Ihab Seblani, "Payday Credit Access, Overdrafts, and Other Outcomes"
 
Young Sik Kim and Manjong Lee, "Return on Commodity Money, Small Change Problems, and Fiat Money"

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
   
Sadi Ozelge and Anthony Saunders, "The Role of Lending Banks in Forced CEO Turnovers"
  
W. Scott Frame, Diana Hancock, and Wayne Passmore, "Federal Home Loan Bank Advances and Commercial Bank Portfolio Composition"
 
Tristian Auvray and Olivier Brossard, "Too Dispersed to Monitor?  Ownership Dispersion, Monitoring and the Prediction of Bank Distress"
  

SHORTER PAPERS, DISCUSSIONS, AND LETTERS

 
Antonello d’Agostino, Kieran McQuinn, and Karl Whelan, "Are Some Forecasters Really Better Than Others?"
 
Richard C.K. Burdekin, Kris James Mitchner, and Marc Weidenmier, "Irving Fisher and Price-Level Targeting in Austria:  Was Silver the Answer?"

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"
 
Andrea Ferrero, "The Advantage of Flexible Targeting Rules"

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"

 

SHORTER PAPERS, DISCUSSIONS, AND LETTERS

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

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"

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"
    
Cem Demiroglu, Christopher James, and Atay Kizilaslan, "Bank Lending Standards and Access to Lines of Credit"
 
Xiaoshan Chen and Ronald MacDonald, "Realised and Optimal Monetary Policy Rules in an Estimated Markov-Switching DSGE Model of the United Kingdom"

Reint Gropp and Arjan Kadareja, "Stale Information, Shocks and Volatility"
 
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"

Nao Sudo, "Sectoral Co-movement, Monetary-Policy Shock, and Input-Output Structure"


Malte Krüger, "Money:  A Market Microstructure Approach"

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"

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


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

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

ARTICLES

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

Hashmat Khan and John D. Tsoukalas, "The Quantitative Importance of News Shocks in Estimated DSGE Models"
   
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"

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

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"

Fabio Milani and John Treadwell, "The Effects of Monetary Policy “News” and “Surprises”'