Journal•ISSN: 0022-2879
Journal of Money, Credit and Banking
Wiley-Blackwell
About: Journal of Money, Credit and Banking is an academic journal published by Wiley-Blackwell. The journal publishes majorly in the area(s): Monetary policy & Inflation. It has an ISSN identifier of 0022-2879. Over the lifetime, 3452 publications have been published receiving 209729 citations. The journal is also known as: Journal of Money, Credit & Banking & Journal of money, credit, and banking.
Papers published on a yearly basis
Papers
More filters
TL;DR: In this article, a procedure for representing a times series as the sum of a smoothly varying trend component and a cyclical component is proposed, and the nature of the comovements of the cyclical components of a variety of macroeconomic time series is documented.
Abstract: A study documents some features of aggregate economic fluctuations sometimes referred to as business cycles. The investigation uses quarterly data from the postwar US economy. The fluctuations studied are those that are too rapid to be accounted for by slowly changing demographic and technological factors and changes in the stocks of capital that produce secular growth in output per capita. The study proposes a procedure for representing a times series as the sum of a smoothly varying trend component and a cyclical component. The nature of the comovements of the cyclical components of a variety of macroeconomic time series is documented. It is found that these comovements are very different than the corresponding comovements of the slowly varying trend components.
5,998 citations
4,922 citations
2,932 citations
TL;DR: The authors used information on a sample of sixteen OECD countries to assess the relationship between central bank independence and macroeconomic performance, and found little evidence that political control of central bank policy has any impact on measures of the level or variability of growth, unemployment, or ex ante real interest rate.
Abstract: This note uses information on a sample of sixteen OECD countries to assess the relationship between central bank independence and macroeconomic performance. As previous work suggests, politically controlled central banks are more likely to pursue policies that lead to high and variable inflation. However, the authors find little evidence that political control of central bank policy has any impact on measures of the level or variability of growth, unemployment, or the ex ante real interest rate. Copyright 1993 by Ohio State University Press.
1,573 citations
TL;DR: In this article, the authors apply the Panzar and Rosse (1987) methodology to estimate the extent to which changes in input prices are reflected in revenues earned by specific banks in 50 countries' banking systems.
Abstract: Using bank-level data, the authors apply the Panzar and Rosse (1987) methodology to estimate the extent to which changes in input prices are reflected in revenues earned by specific banks in 50 countries' banking systems. They then relate this competitiveness measure to indicators of countries' banking system structures and regulatory regimes. The authors find systems with greater foreign bank entry and fewer entry and activity restrictions to be more competitive. They find no evidence that the competitiveness measure negatively relates to banking system concentration. Their findings confirm that contestability determines effective competition, especially by allowing (foreign) bank entry and reducing activity restrictions on banks.
1,416 citations