This is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsPreview
Unable to display preview. Download preview PDF.
Bibliography
Cramer, J.S. 1981. The volume of transactions and of payments in the United Kingdom, 1968–1977. Oxford Economic Papers 33: 234–55.
Currie, M. and Steedman, I. 1990. Wrestling with Time: Problems in Economic Theory. Ann Arbor: University of Michigan Press.
Eisner, R. 1986. How Real is the Federal Deficit? New York: Free Press.
Goldsmith, R. 1985. Comparative National Balance Sheets: A Study of Twenty Countries. Chicago: University of Chicago Press.
Goodhart, C.A.E. 1983. Monetary Theory and Practice: The UK Experience. London: Macmillan.
Mendelson, M. 1962. The optimum of grossness in flow-of-funds accounts. In The Flow of Funds Approach to Social Accounting: Appraisal, Analysis, and Applications. Princeton: Princeton University Press for the NBER.
Patterson, K.D. and Stephenson, M.J. 1988. Stock-flow consistent accounting: a macroeconomic perspective. Economic Journal 98: 787–800.
Patterson, K.D. 1990. Stock flow consistent income for industrial and commercial companies. Review of Income and Wealth 33: 289–308.
Ruggles, N.D. 1987. Financial accounts and balance sheets: issues for the revision of the SNA. Review of Income and Wealth 33: 39–62.
Shiller, R.J. 1990. Market Volatility. Cambridge, Mass.: MIT Press.
Statistics Canada. 1989. A Guide to the Financial Flow and National Balance Sheet Accounts. Ottawa: Minister of Supply and Services.
United Nations. 1968. A System of National Accounts. Series F, no. 2, Rev. 3, New York: United Nations.
United Nations. 1975. Guidelines on National and Sectoral Balance Sheets and Reconciliation Accounts of the SNA. Series M, no. 60, New York: United Nations.
United Nations. 1977. Guidelines on Statistics of Tangible Assets. Series M, no. 68, New York: United Nations.
Dickson, P.G.M. 1967. The Financial Revolution in England: A Study in the Development of Public Credit, 1688–1756. London: Macmillan.
Gordon, B. 1976. Political Economy in Parliament, 1819–1823. London: Macmillan.
Gordon, B. 1979. Economic Doctrine and Tory Liberalism, 1824–1830. London: Macmillan.
Hansard, T.C. 1819. Parliamentary Debates. Vol. 40. London.
Hilton, B. 1977. Corn, Cash, Commerce: The Economic Policies of the Tory Governments, 1815–1830. Oxford: Oxford University Press.
Kimmel, L.H. 1959. Federal Budget and Fiscal Policy, 1789–1958. Washington, DC: Brookings Institution.
Schumpeter, J. A. 1954. History of Economic Analysis. New York: Oxford University Press.
Smith, A. 1776. An Inquiry into the Nature and Causes of the Wealth of Nations. Ed. E. Cannan, New York: Random House, 1937.
Cassei, G. 1928. The rate of interest, the bank rate, and the stabilization of prices. Quarterly Journal of Economics 42, August: 511–29.
Clower, R. 1965. The Keynesian counterrevolution: a theoretical appraisal. In The Theory of Interest Rates, ed. F.H. Hahn and F.P.R. Brechling, London: Macmillan; New York: St Martin’s Press.
Hayek, F.A. 1931. Prices and Production. London: Routledge & Kegan Paul; 2nd edn, New York: A.M. Kelley, 1967.
Humphrey, T.M. 1986. Cumulative process models from Thornton to Wicksell. Federal Reserve Bank of Richmond Economic Review, May–June.
Keynes, J.M. 1930. A Treatise on Money. 2 vols, London: Macmillan.
Keynes, J.M. 1936. The General Theory of Employment, Interest and Money. London: Macmillan; New York: Harcourt, Brace.
Leijonhufvud, A. 1981. The Wicksell connection. In A. Leijonhufvud, Information and Coordination, New York: Oxford University Press.
Lindahl, E. 1939. Studies in the Theory of Money and Capital. New York: Holt, Rinehart & Winston.
Myrdal, G. 1939. Monetary Equilibrium. Edinburgh: William Hodge.
Palander, T. 1941. On the concepts and methods of the Stockholm School. International Economic Papers No. 3, London: Macmillan, 1953.
Robertson, D.H. 1926. Banking Policy and the Price Level. Reprinted, New York: Augustus M. Kelley, 1949.
Sraffa, P. 1932. Dr Hayek on money and capital. Economic Journal 42, March: 42–53.
Wicksell, K. 1898. Geldzins und Guterpreise. Jena: Gustav Fischer. Trans, by R.F. Kahn as Interest and Prices, London: Macmillan, 1936; reprinted New York: A.M. Kelley, 1962.
Wicksell, K. 1906. Vorlesungen uber Nationalökonomie. Trans, by E. Classen as Lectures on Political Economy, Vol. II, London: Roudedge & Kegan Paul; reprinted New York: A.M. Kelley, 1967.
Attfield, C.L.F., Demery, D. and Duck, N.W. 1981a. Unanticipated monetary growth, output and the price level: UK 1946–1977. European Economic Review 16:367–85.
Attfield, C.L.F., Demery, D. and Duck, N.W. 1981b. A quarterly model of unanticipated monetary growth, output and the price level in the UK 1963–1978. Journal of Monetary Economics 8: 331–50.
Barro, R.J. 1976. Rational expectations and the role of monetary policy. Journal of Monetary Economics 2:1–33.
Barro, R.J. 1977. Unanticipated money growth and unemployment in the United States. American Economic Review 67:101–15.
Barro, R.J. 1978. Unanticipated money, output and the price level in the United States. Journal of Political Economy 86: 549–80.
Barro, R.J. and Rush, M. 1980. Unanticipated money and economic activity. In Rational Expectations and Economic Policy, ed. S. Fischer, Chicago: University of Chicago Press for National Bureau of Economic Research.
Bean, C.R. 1984. A litde bit more evidence on the natural hypothesis from the U.K. European Economic Review 25: 279–92.
Friedman, M. 1968. The role of monetary policy. American Economic Review 58:1–17.
Gordon, R.J. 1982. Price inertia and policy ineffectiveness in the United States, 1890–1980. Journal of Political Economy 90, December: 1087–117.
Gordon, R.J. 1990. What is new-Keynesian economics? Journal of Economic Literature 28:1115–71.
Leiderman, L. 1980. Macroeconometric testing of the rational expectations and structural neutrality hypothesis for the United States. Journal of Monetary Economics 6: 69–82.
Lucas, R.E., Jr. 1972. Expectations and the neutrality of money. Journal of Economic Theory 4:103–24.
Lucas, R.E., Jr. 1973. Some international evidence on output-inflation trade offs. American Economic Review 63:326–34.
Lucas, R.E., Jr. 1975. An equilibrium model of the business cycle. Journal of Political Economy 83:1113–44.
McAleer, M. and MacKenzie, C.R. 1991. Keynesian and New Classical models of unemployment revisited. Economic Journal 101, May: 359–81.
McCallum, B.T. 1989. Real business cycle models. In Modern Business Cycle Theory, ed. R.J. Barro, Cambridge, Mass.: Harvard University Press.
Mishkin, F.S. 1982. Does anticipated monetary policy matter? An econometric investigation. Journal of Political Economy 90, February: 22–51.
Muth, J.F. 1961. Rational expectations and the theory of price movements. Econometrica 29:315–35.
Pesaran, M.H. 1982. A critique of the proposed tests of the natural rate-rational expectations hypothesis. Economic Journal 92, September: 529–54.
Pesaran, M.H. 1987. The Limits to Rational Expectations. Oxford: Basil Blackwell.
Pesaran, M.H. 1988. On the policy ineffectiveness proposition and a Keynesian alternative: a rejoinder. Economic Journal 98, June: 504–8.
Phelps, E.S. 1967. Phillips curves, expectations of inflation and optimal unemployment over time. Economica 34: 254–81.
Phelps, E.S. 1970. The New Microeconomics in employment and inflation theory. In Microeconomic Foundations of Employment and Inflation Theory, ed. E.S. Phelps et al., New York: Norton.
Rush, M. and Waldo, D. 1988. On the policy ineffectiveness proposition and a Keynesian alternative. Economic Journal 98, June: 498–503.
Sargent, T.J. 1973. Rational expectations, the real rate of interest and the natural rate of unemployment. Brookings Papers on Economic Activity 2: 429–72; correction of errors, 799–800.
Sargent, T.J. 1976. A classical macroeconomic model for the United States. Journal of Political Economy 84, April: 207–37.
Sargent, T.T. and Wallace, N. 1973. Rational expectations and the dynamics of hyperinflation. International Economic Review 14: 328–50.
Sargent, T.T. and Wallace, N. 1975. Rational expectations, the optimal monetary instrument and the optimal money supply rule. Journal of Political Economy 83: 241–54.
Tobin, J. 1970. The wage price mechanism. In The Econometrics of Price Determination Conference, ed. O. Eckstein, Washington, DC: Board of Governors of the Federal Reserve System.
Artis, M.J. and Lewis, M.K. 1990. Money supply and demand. In Current Issues in Monetary Economics, ed. T. Bandyopadhyay and S. Ghatak, London: Harvester Wheatsheaf.
Bank of England. 1990. Monetary aggregates in a changing environment: a statistical discussion paper. Bank of England Discussion Paper no. 47.
Barnett, W.A. 1980. Economic monetary aggregates: an application of index number and aggregation theory. Journal of Econometrics 14:11–48.
Barnett, W.A., Offenbacher, E.K. and Spindt, P.A. 1984. The new Divisia monetary aggregates. Journal of Political Economy 92: 1049–85.
Boughton, J.M. 1981. Money and its substitutes. Journal of Monetary Economics 8: 375–86.
Cagan, P. and Schwartz, A.J. 1975. Has the growth of money substitutes hindered monetary policy? Journal of Money, Credit and Banking 7:137–59.
Chetty, V.K. 1969. On measuring the nearness of near-moneys. American Economic Review 59: 270–81.
Chick, V. 1973. The Theory of Monetary Policy. Oxford: Blackwell.
Donovan, D.J. 1978. Modelling the demand for liquid assets: an application to Canada. IMF Staff Papers 25: 676–704.
Ewis, N.A. and Fisher, D. 1984. The translog utility function and the demand for money in the United States. Journal of Money, Credit and Banking 16: 34–52.
Ewis, N.A. and Fisher, D. 1985. Toward a consistent estimate of the demand for monies: an application of the Fourier flexible form. Journal of Macroeconomics 7: 151–74.
Feige, E.L. 1974. Temporal cross-section specifications of the demand for demand deposits. Journal of Finance 29: 923–40.
Feige, E.L. and Pearce, D.K. 1977. The substitutability of money and near-monies: a survey of the time-series evidence. Journal of Economic Literature 15: 439–69.
Gurley, J.G. and Shaw, E.S. 1960. Money in a Theory of Finance. Washington DC: Brookings Institution.
Judd, J.P. and Scadding, J.L. 1982. The search for a stable money demand function: a survey of the post-1973 literature. Journal of Economic Literature 20: 993–1023.
Lee, T.H. 1966. Substitutability of non-bank intermediary liabilities for money: the empirical evidence. Journal of Finance 21:441–57.
Mills, T.C. 1983. Composite monetary indicators for the UK. Bank of England Discussion Paper, Technical Series, no. 3.
Radcliffe Committee. 1959. Report of the Committee on the Working of the Monetary System. London: HMSO.
Sayers, R. 1960. Monetary thought and monetary policy in England. Economic Journal 70: 710–24.
Serletis, A. and Robb, A.L. 1986. Divisia aggregation and substitutability among monetary assets. Journal of Money, Credit and Banking 18: 430–46.
Tobin, J. and Brainard, W.C. 1963. Financial intermediaries and the effectiveness of monetary controls. American Economic Review 53 (Papers and Proceedings): 383–400.
Baumol, W.J. 1952. The transactions demand for cash. Quarterly Journal of Economics 66, November: 545–56.
Fischer, S. 1977. Long-term contracts, rational expectations, and the optimal money supply rule. Journal of Political Economy 85(1), February: 191–205.
Friedman, M. 1957. A Theory of the Consumption Function. Princeton: Princeton University Press for the National Bureau of Economic Research.
Hansen, A. 1949. Monetary Theory and Fiscal Policy. New York: McGraw-Hill.
Hicks, J. 1937. Mr Keynes and the ‘classics’: a suggested interpretation. Econometrica 5, April: 147–59.
Lucas, R. 1980. Methods and problems in business cycle theory. Journal of Money, Credit and Banking 12(4), pt 2, November: 696–715.
Lucas, R. and Sargent, T. 1979. After Keynesian macroeconomics. Federal Reserve Bank oí Minneapolis Quarterly Review 3(2), Spring: 1–16.
Metzler, L. 1951. Wealth saving and the rate of interest. Journal of Political Economy 59, April: 93–116.
Modigliani, F. 1944. Liquidity preference and the theory of interest and money. Econometrica 12, January: 45–88.
Modigliani, F. 1980. Collected Papen, Vol. I: Essays in Macroeconomics. Cambridge, Mass.: MIT Press.
Modigliani, F. and Brumberg, R. 1954. Utility analysis and the consumption function: an interpretation of cross section data. In Post-Keynesian Economics, ed. K.K. Kurihara, New Brunswick, NJ: Rutgers University Press.
Patinkin, D. 1948. Price flexibility and full employment. American Economic Review 38, September: 543–64.
Patinkin, D. 1956. Money, Interest and Prices. New York: Harper & Row; 2nd edn, 1965.
Phelps, E. 1972. Inflation Policy and Unemployment Theory. London: Macmillan.
Samuelson, P. 1951. Principles and rules in modern fiscal policy: a neoclassical reformulation. In Money, Trade and Economic Growth: Essays in Honor of John Henry Williams, ed. H.L. Waitzman, New York: Macmillan.
Samuelson, P. 1955. Economics. 3rd edn, New York: McGraw-Hill.
Taylor, J. 1980. Aggregate dynamics and staggered contracts. Journal of Political Economy 88(1), February: 1–23.
Tobin, J. 1956. The interest-elasticity of transactions demand for cash. Review of Economics and Statistics 38, August: 241–7.
Tobin, J. 1958. Liquidity preference as behavior towards risk. Review of Economic Studies 25, February: 65–86.
Arida, P. and Lara-Resende, A. 1986. Inflación inercial y reforma monetaria: Brasil. In Inflación Cero, ed. P. Arida, Bogota: Oveja Negra.
Bacha, E. 1987. La inercia y el conflicto: el Plan Cruzado y sus desafíos. Estudios Económicos, El Colegio de Mexico (October).
Bruno, M., Di Tella, G., Dornbusch, R. and Fischer, S. (eds) 1988. Inflation Stabilization. Cambridge, Mass. and London: MIT Press.
Dornbusch, R. 1989. The road to economic recovery. Report of the Twentieth Century Fund Task Force on International Debt. New York: Priority Press.
Jameson, K.P. 1986. Latin American structuralism: a methodological perspective. World Development, February.
Sargent, T. 1986. Rational Expectations and Inflation. New York: Harper and Row.
Simonsen, M.H. 1987. Rational expectations, game theory and inflationary inertia. Paper presented to the Seventh Latin American Meeting of the Econometric Society, São Paulo, August.
Taylor, L. 1983. Structuralist Macroeconomics. New York: Basic Books.
Taylor, L. ed. 1988. Varieties of Stabilization Experience. Oxford: Clarendon Press.
Velasco, A. 1991. Monetarism and structuralism: some macroeconomic lessons. In The Latin American Development Debate, ed. P. Meller, Boulder and Oxford: Westview Press.
Wallerstein, I. 1987. Periphery. In The New Palgrave: A Dictionary of Economics, ed. J. Eatwell, M. Milgate and P. Newman, London: Macmillan.
Bosman, H.W.J. 1986. The Netherlands banking system. Amsterdam: Nederlands Instituut voor het Bank- en Effectenbedrijf.
Buist, M.G. 1974. At Spes Non Frata, Hope & Co. 1770–1815. The Hague: Martinus Nijhoff.
Jong, A.M. de. 1967. Geschiedenis van de Nederlandse Bank (History of the Netherlands Bank). Amsterdam: De Nederlandsche Bank (Parts I–IV).
Kremers, J.J.M. 1987. Financing budget deficits in The Netherlands. De Economist 135: 340–66.
Verrijn Stuart, G.M. 1956. Geld, Crediet en Bankwezen, Deel II Bankpolitiek (Money, Credit and the Banking System, Part II Bank Policy). The Hague: NV Uitgeversmaatschappij v/h G. Delwel.
Archibald, G.C. and Lipsey, R.G. 1958. Monetary and value theory: a critique of Lange and Patinkin. Review of Economic Studies 28, October: 50–56.
Bailey, M.J. 1956. The welfare cost of inflationary finance. Journal of Political Economy 64, April: 93–110.
Barro, R.J. 1976. Rational expectations and the role of monetary policy. Journal of Monetary Economics 2, January: 1–32.
Barro, R.J. 1978. Unanticipated money, output, and the price level in the United States. Journal of Political Economy 86, August: 549–80.
Birati, A. and Cukierman, A. 1979. The redistributive effects of inflation and of the introduction of a real tax system in the US bond market. Journal of Public Economics 12, August: 125–39.
Boianovsky, M. 1991. The use of the term ‘veil of money’ by Irving Fisher — a comment on Patinkin and Steiger. Unpublished note.
Boschen, J.F. and Grossman, H.I. 1982. Tests of equilibrium macroeconomics using contemporaneous monetary data. Journal of Monetary Economics 10, November: 309–33.
Brock, W.A. 1974. Money and growth: the case of long run perfect foresight. International Economic Review 15, October: 750–77.
Cecchetti, S.G. 1986. Testing short-run neutrality. Journal of Monetary Economics 17, May: 409–23.
Feaveryear, A. 1963. The Pound Sterling: A History of English Money, 2nd edn, revised by E.V. Morgan, Oxford: Clarendon Press.
Feldstein, M. 1982. Inflation, capital taxation, and monetary policy. In Inflation: Causes and Effects, ed. R.E. Hall, Chicago: University of Chicago Press: 153–67.
Fischer, S. 1977. Long-term contracts, rational expectations, and the optimal money supply rule. Journal of Political Economy 85, February: 191–205.
Fischer, S. 1980. On activist monetary policy with rational expectations. In Rational Expectations and Economic Policy, ed. S. Fischer, Chicago: University of Chicago Press: 211–47.
Fisher, I. 1896. Appreciation and interest. AEA Publications 3(11), August: 331–442; reprinted, New York: Augustus M. Kelley, 1961.
Fisher, I. 1907. The Rate of Interest. New York: Macmillan.
Fisher, I. 1911. The Purchasing Power of Money: Its Determination and Relation to Credit Interest and Crises. Rev. edn, New York: Macmillan; reprinted, New York: Augustus M. Kelley, 1963.
Fisher, I. 1923. ‘The business cycle largely a ‘Dance of the Dollar’, Journal of the American Statistical Association 18, December: 1024–8.
Fisher, I. 1930. The Theory of Interest. New York: Macmillan. Reprinted, New York: Kelley and Millman, 1954.
Friedman, M. 1970. The Counter-Revolution in Monetary Theory. London: Institute of Economic Affairs.
Gale, D. 1982. Money: in Equilibrium. Cambridge: Cambridge University Press.
Gordon, R.J. 1982. Price inertia and policy ineffectiveness in the United States, 1890–1980. Journal of Political Economy 90, December: 1087–117.
Grandmont, J.-M. 1983. Money and Value: a Reconsideration of Classical and Neoclassical Monetary Theories. New York: Cambridge University Press.
Gurley, J.G. and Shaw, E.S. 1960. Money in a Theory of Finance. Washington, DC: Brookings Institution.
Hayek, F.A. von. 1931. Prices and Production. London: George Routledge.
Hayek, F.A. von. 1935. Prices and Production. 2nd edn, London: George Routledge.
Howitt, P. and Patinkin, D. 1980. Utility transformations and money illusion: comments. American Economic Review 70, September: 819–22, 826–8.
Hume, D. 1752. ‘Of Money’, ‘Of Interest’ and ‘Of the Balance of Trade’. As reprinted in D. Hume, Writings on Economics, ed. E. Rotwein, Wisconsin: University of Wisconsin Press, 1970: 33–77.
Humphrey, T.M. 1991. Nonneutrality of money in classical monetary thought. Federal Reserve Bank of Richmond Economic Review 77, March/April: 3–15.
Keynes, J.M. 1923. A Tract on Monetary Reform. London: Macmillan.
Klausinger, H. 1990. The early use of the term ‘veil of money’ in Schumpeter’s monetary writings: a comment on Patinkin and Steiger. Scandinavian Journal of Economics 92(4): 617–27.
Kleiman, E. 1984. Alut ha-inflatzya. Rivon Le-kalkalah (Economic Quarterly) 30, January: 859–64 (Hebrew). Translated and issued in May 1989 under title ‘The cost of inflation’, as Working Paper No. 211, Department of Economics, Hebrew University of Jerusalem.
Kuznets, S. 1941. National Income and Its Composition, 1919–1938. New York: National Bureau of Economic Research.
Kuznets, S. 1951. National income and industrial structure. Proceedings of the International Statistical Conference 1947 5: 205–39. As reprinted in S. Kuznets, Economic Change, London: William Heinemann, 1954:145–91.
Laidler, D. 1990. Money as a metaphorical garment before the Great War: a comment on Patinkin and Steiger. Scandinavian Journal of Economics 92(4 : 613–15.
Leontief, W. 1936. The fundamental assumption of Mr. Keynes’ monetary theory of unemployment. Quarterly Journal of Economics 51, November: 192–7.
Levhari, D. and Patinkin, D. 1968. The role of money in a simple growth model. American Economic Review 58, September: 713–53. As reprinted in Patinkin (1972c): 205–42.
Lothian, J.R. 1985. Equilibrium relationships between money and other economic variables. American Economic Review 75, September: 828–35.
Lucas, R.E., Jr. 1972. Expectations and the neutrality of money. Journal of Economic Theory 4, April: 103–24. As reprinted in Lucas (1981): 66–89.
Lucas, R.E., Jr. 1975. An equilibrium model of the business cycle. Journal of Political Economy 83, December: 1113–44. As reprinted in Lucas (1981): 179–214.
Lucas, R.E., Jr. 1980. Two illustrations of the quantity theory of money. American Economic Review 70, December: 1005–14.
Lucas, R.E., Jr. 1981. Studies in Business Cycle Theory. Cambridge, Mass.: MIT Press.
McCallum, B.T. 1980. Rational expectations and macroeconomic stabilization policy: an overview. Journal of Money, Credit, and Banking 12, November: 716–46.
Metzler, L.A. 1951. Wealth, saving and the rate of interest. Journal of Political Economy 59, April: 93–116.
Mishkin, F.S. 1982. Does anticipated monetary policy matter? An econometric investigation. Journal of Political Economy 90, February: 22–51.
Mishkin, F.S. 1983. A Rational Expectations Approach to Macroeconometrics. Chicago: University of Chicago Press.
Modigliani, F. 1944. Liquidity preference and the theory of interest and money. Econometrica 12, January: 45–88. As reprinted in American Economic Association, Readings in Monetary Theory, Philadelphia: Blakiston for the American Economic Association, 1951:186–240.
Mundeil, R.A. 1963. Inflation and real interest. Journal of Political Economy 71, June: 280–83.
Mundeil, R.A. 1965. A fallacy in the interpretation of macroeconomic equilibrium. Journal of Political Economy 73, February: 61–6.
Patinkin, D. 1965. Money, Interest, and Prices. 2nd edn, New York: Harper & Row.
Patinkin, D. 1972a. On the short-run non-neutrality of money in the quantity theory. Banca Nazionale del Lavoro Quarterly Review No. 100, March: 3–22.
Patinkin, D. 1972b. Money and growth in a Keynesian full-employment model. In Patinkin (1972c): 195–204.
Patinkin, D. 1972c. Studies in Monetary Economics. New York: Harper & Row.
Patinkin, D. and Steiger, O. 1989. In search of the ‘veil of money’ and the ‘neutrality of money’: a note on the origin of terms. Scandinavian Journal of Economics 91(1): 131–46.
Sargent, T.J. 1976. A classical macroeconometric model for the United States. Journal of Political Economy 84, April: 207–37.
Schumpeter, J.A. 1917/18. Das Sozialprodukt und die Rechenpfennige. Archiv fir Sozialwissenschaft und Sozialpolitik 44: 627–715. Translated under the title ‘Money and the social product’’, International Economic Papers 6:148–211. London: Macmillan, 1956, for the International Economic Association.
Sidrauski, M. 1967. Rational choice and patterns of growth in a monetary economy. American Economic Review 57, May: 534–44.
Solow, R.M. 1956. A contribution to the theory of economic growth. Quarterly Journal of Economics 70, February: 65–94.
Tobin, J. 1965. Money and economic growth. Econometrica 33, October: 671–84.
Tobin, J. 1967. The neutrality of money in growth models: a comment. Economica 34, February: 69–72.
Wicksell, K. 1898. Geldzins und Guterpreise. Trans, by R.F. Kahn as Interest and Prices: A Study of the Causes Regulating the Value of Money, London: Macmillan, 1936.
Altonji, J.G. 1982. The intertemporal substitution model of labour market fluctuations: an empirical analysis. Review of Economic Studies 49(5), Special Issue: 783–824.
Barro, R.J. 1977. Long-term contracting, sticky prices, and monetary policy. Journal of Monetary Economics 3(3), July: 305–16.
Barro, R.J. 1978. Unanticipated money, output, and the price level in the United States. Journal of Political Economy 86(4), August: 549–80.
Barro, R.J. and Gordon, D. 1983. Rules, discretion, and reputation. Journal of Monetary Economics 12(1), July: 101–21.
Barro, RJ. and Hercowitz, Z. 1980. Money stock revisions and unanticipated money growth. Journal of Monetary Economics 6(2), April: 257–67.
Blanchard, O.J. 1983. The production and inventory behaviour of the American automobile industry. Journal of Political Economy 91(3), June: 365–400.
Boschen, J.F. and Grossman, H.I. 1982. Tests of equilibrium macroeconomics using contemporaneous monetary data. Journal of Monetary Economics 10(3), November: 309–33.
Fischer, S. 1977. Long-term contracts, rational expectations, and the optimal money supply rule. Journal of Political Economy 85(1), February: 191–205.
Fischer, S. 1980. On activist monetary policy with rational expectations. In Rational Expectations and Economic Policy, ed. S. Fischer, Chicago: University of Chicago Press.
Friedman, M. 1968. The role of monetary policy. American Economic Review 58(1), March: 1–17.
Friedman, M. and Schwartz, A.J. 1963. A Monetary History of the United States. Princeton: Princeton University Press.
Garber, P.M. and King, R.G. 1983. Deep structural excavation. University of Rochester, Department of Economics, Working Paper 83–14, September.
Hall, R.E. and Mishkin, F.S. 1982. The sensitivity of consumption to transitory income — estimates from panel data on households. Econometrica 50(2), March: 461–81.
Hansen, L.P. and Singleton, K. 1983. Stochastic consumption, risk aversion, and the temporal behaviour of asset returns. Journal of Political Economy 91(2), April: 249–65.
Hart, O. and Hölmstrom, B. 1987. The theory of contracts. In Advances in Economic Theory, 5th World Congress, ed. T. Bewley, Cambridge: Cambridge University Press.
King, R.G. and Plosser, C.I. 1984. Money, credit, and prices in a real business cycle model. American Economic Review 74(3), June: 363–80.
Kydland, F.E. and Prescott, E.C. 1977. Rules rather than discretion: the inconsistency of optimal plans. Journal of Political Economy 85(3), June: 473–91.
Kydland, F.E. and Prescott, E.C. 1982. Time to build and aggregate fluctuations. Econometrica 50(6), November: 1345–70.
Lucas, R.E. 1972. Expectations and the neutrality of money. Journal of Economic Theory 4(2), April: 103–24.
Lucas, R.E. 1973. Some international evidence on output-inflation tradeoffs. American Economic Review 63(3), September: 326–34.
Lucas, R.E., 1976. Econometric policy evaluation: a critique. In The Phillips Curve and Labor Markets, ed. K. Brunner and A.H. Meltzer, Carnegie-Rochester Conference Series on Public Policy, Vol. I, Amsterdam: North-Holland.
Lucas, R.E. 1977. Understanding business cycles. In Stabilization of the Domestic and International Economy’, ed. K. Brunner and A.H. Meltzer, Carnegie-Rochester Conference Series on Public Policy, Vol. 5, Amsterdam: North-Holland.
Lucas, R.E. and Sargent, T.J. 1981. Rational Expectations and Econometric Practice. Minnesota: University of Minnesota Press.
Mankiw, N.G., Rotemberg, J.J. and Summers, L.H. 1985. Intertemporal substitution in macroeconomics. Quarterly Journal of Economics 100(1), February: 225–51.
Mishkin, F.S. 1983. A Rational Expectations Approach to Macroeconometrics. Chicago: University of Chicago Press.
Rogoff, K. 1985. The optimal degree of commitment to an intermediate monetary target. Quarterly Journal of Economics 100(4), November: 1169–90.
Sargent, T.J. 1978. Estimation of dynamic labour demand schedules under rational expectations. Journal of Political Economy 86(6), December: 1009–44.
Sargent, T.J. 1982. Beyond demand and supply curves in macroeconomics. American Economic Review, Papers and Proceedings 72(2), May: 382–9.
Sargent, T.J. and Wallace, N. 1975. ‘Rational’ expectations, the optimal monetary instrument, and the optimal money supply rule. Journal of Political Economy 83(2), April: 241–54.
Sims, C.A. 1980. Macroeconomics and reality. Econometrica 48(1), January: 1–48.
Taylor, J.B. 1980. Aggregate dynamics and staggered contracts. Journal of Political Economy 88(1), February: 1–23.
Black, F. 1970. Banking and interest rates in a world without money: the effects of uncontrolled banking. Journal of Banking Research 1: 8–20.
Cowen, T. and Kroszner, R. 1987. The development of the new monetary economics. Journal of Political Economy 95: 567–90.
Cowen, T. and Kroszner, R. 1990a. Empirical predictions of the new monetary economics: perspectives on velocity. Journal of Policy Modeling 12: 265–79.
Cowen, T. and Kroszner, R. 1990b. Mutual fund banking: a market approach. Cato Journal 10: 223–37.
Debreu, G. 1959. Theory of Value. New York: Wiley.
Dorn, J.A. 1989. Introduction: alternatives to government fiat money. Cato Journal 9: 277–94.
Dowd, K. 1989. The State and the Monetary System. London and New York: Philip Allan.
Fama, E. 1980. Banking in the theory of finance. Journal of Monetary Economics 6: 39–57.
Fama, E. 1983. Financial intermediation and price level control. Journal of Monetary Economics 12: 7–28.
Fischer, S. 1983. A framework for monetary and banking analysis. Economic Journal (Supplement) 93: 1–16.
Friedman, M. and Schwartz, A. 1986. Has government any role in money? Journal of Monetary Economics 17: 37–62.
Goodhart, C.A.E. 1986. The implications of shifting frontiers in financial markets for monetary control. In Shifting Frontiers in Financial Markets, ed. D.E. Fair, Dordrecht: Martinus Nijhoff.
Greenfield, R. and Yeager, L. 1983. A laissez-faire approach to monetary stability. Journal of Money, Credit, and Banking 15: 302–15.
Greenfield, R. and Yeager, L. 1986. Competitive payments systems: comment. American Economic Review 76: 848–9.
Hall, R.E. 1982a. Explorations in the Gold Standard and related policies for stabilising the dollar. In Inflation: Causes and Effects, ed. R.E. Hall, Chicago and London: University of Chicago Press.
Hall, R.E. 1982b. Monetary trends in the United States and the United Kingdom: a review from the perspective of new developments in monetary economics. Journal of Economic Literature 20:1552–6.
Hall, R.E. 1983. Optional fiduciary monetary systems. Journal of Monetary Economics 12: 33–50.
Hayek, F. 1976. Denationalisation of Money. 2nd edn, London: Institute of Economic Affairs.
Hicks, J.R. 1935. A suggestion for simplifying the theory of money. Economica N.S. 2:1–19.
Hoover, K.D. 1988. Money, prices and finance in the new monetary economics. Oxford Economic Papers 40: 150–67.
Johnson, H.G. 1968. Problems of efficiency in monetary management. Journal of Political Economy 76: 971–90.
King, R.G. 1983. On the economics of private money. Journal of Monetary Economics 12: 127–58.
Makinen, G.E. and Woodward, G.T. 1986. Some anecdotal evidence relating to the Legal Restrictions Theory of the demand for money. Journal of Political Economy 94: 260–65.
McCallum, B.T. 1985. Bank deregulation, accounting systems of exchange, and the unit of account. A critical review. Carnegie-Rochester Conference Series on Public Policy 23: 13–45.
McCallum, B.T. 1990. Comments on Empirical predictions of the new monetary economics: perspectives on velocity. Journal of Policy Modeling 12: 281–7.
Meltzer, A. 1989. Eliminating monetary disturbances. Cato Journal 9: 423–8.
Mott, T. 1989. A post Keynesian perspective on a ‘cashless’ competitive payments system. Journal of Post Keynesian Economics 11:360–69.
Niehans, J. 1978. The Theory of Money. Baltimore: Johns Hopkins University Press.
O’Driscoll, G.P. 1985. Money in a deregulated financial system. Federal Reserve Bank of Dallas Economic Review, May: 1–12.
Sumner, S. 1990. The forerunners of ‘new monetary economics’ proposals to stabilize the unit of account. Journal of Money, Credit and Banking 22:109–18.
Tobin, J. 1963. Commercial banks as creators of ‘money’. In Banking and Monetary Studies, ed. D. Carson. Homewood, Ill.: Richard D. Irwin, Inc.
Wallace, N. 1983. A legal restrictions theory of the demand for ‘money’ and the role of monetary policy. Federal Reserve Bank of Minneapolis Quarterly Review 7:1–7.
Wallace, N. 1988. A suggestion for oversimplifying the theory of money. Economic Journal (Conference Papers) 98:25–36.
White, L.H. 1984. Competitive payments systems and the unit of account. American Economic Review 74: 699–712.
White, L.H. 1986. Competitive payments systems: reply. American Economic Review 76: 850–53.
White, L.H. 1987. Accounting for non-interest bearing currency: a critique of the Legal Restrictions Theory of money. Journal of Money, Credit and Banking 19: 448–56.
White, L.H. 1989a. What kinds of monetary institutions would a free market deliver? Cato Journal 9: 367–91.
White, L.H. 1989b. Competition and Currency. New York and London: New York University Press.
White, L.H. 1990a. Competitive money reform: a review essay. Journal of Monetary Economics 26: 191–202.
White, L.H. 1990b. Scottish banking and the Legal Restrictions Theory: a closer look. Journal of Money, Credit and Banking 22: 526–36.
Yeager, L. 1989. A competitive payments system: some objections considered. Journal of Post-Key nesian Economia 11: 370–77.
Yeager, L. and Greenfield, R. 1989. Can monetary disequilibrium be eliminated? Cato Journal 9: 405–21.
Bernanke, B.S. 1983. Nonmonetary effects of the financial crisis in the propagation of the great depression. American Economic Review 73: 257–76.
Brunner, K. 1969. Monetary analysis and Federal Reserve policy. In Targets and Indicators of Monetary policy, ed. K. Brunner, San Francisco: Chandler.
Friedman, M. and Schwartz, A. 1963. A Monetary History of the United States. Princeton: Princeton University Press.
Gertler, M. 1988. Financial structure and aggregate economic activity. Journal of Money, Credit and Banking 20(2) : 559–88.
Gramley, L.E. and Chase, S.B., Jr. 1969. Time deposits in monetary analysis. In Targets and Indicators of Monetary policy, ed. K. Brunner, San Francisco: Chandler.
Gurley, J. and Shaw, E.S. 1960. Money in a Theory of Finance. Washington DC: Brookings Institution.
Tobin, J. 1963. Commercial banks as creators of ‘money’. In Banking and Monetary Studies, ed. D. Carson, Homewood: Richard D. Irwin, Inc.
Tobin, J. 1969. A general equilibrium approach to monetary theory. Journal of Money, Credit and Banking 1:15–29.
Tobin, J. and Brainard, W.C. 1963. Financial intermediaries and the effectiveness of monetary control. American Economic Review 53:383–400.
New York Stock Exchange. 1980–90. Fact Book. New York: New York Stock Exchange.
Sobel, R. 1967. The Big Board: A History of the New York Stock Market. New York: Free Press.
Sobel, R. 1975. N.YS.E.: A History of the New York Stock Exchange, 1935–1975. New York: Weybright and Talley.
Black, F. 1986. Noise. Journal of Finance 41, July: 529–43.
Cutler, D., Poterba, J. and Summers, L. 1989. What moves stock prices? Journal of Portfolio Management 15, Spring: 4–12.
De Long, J.B., Shleifer, A., Summers, L. and Waldmann, R. 1990. Noise trader risk in financial markets. Journal of Political Economy 98(4), August: 703–38.
De Long, J.B. and Shleifer, A. 1991. The stock market bubble of 1929: evidence from closed-end mutual funds. Journal of Economic History 51(3), September: 675–700.
Fama, E. 1965. The behavior of stock market prices. Journal of Business 38: 34–105.
Fama, E. and French, K. 1988. Permanent and temporary components of stock market prices. Journal of Political Economy 96, April: 246–73.
French, K. and Poterba, J. 1989. Are Japanese stock prices too high? Cambridge, Mass.: Massachusetts Institute of Technology xerox.
Friedman, M. 1953. The case for flexible exchange rates. In Essays in Positive Economics, Chicago: University of Chicago Press.
Keim, D. 1983. Size-related anomalies and stock market seasonality: further empirical evidence. Journal of Financial Economics 12, June: 13–32.
Kyle, A.S. 1985. Continuous auctions and insider trading. Econometrica 53, November: 1315–36.
Lee, C., Shleifer, A. and Thaler, R. 1991. Investor sentiment and the closed-end fund puzzle. Journal of Finance 46, March: 75–109.
Lehmann, B. 1990. Fads, martingales, and market efficiency. Quarterly Journal of Economics 105(1), February: 1–28.
Malkiel, B. 1973. A Random Walk Down Wall Street. New York: W.W. Norton.
Ross, S. 1987. The interrelations of finance and economics: theoretical perspectives. American Economic Review 77, May: 29–35.
Shiller, R. 1989. Market Volatility. Cambridge, Mass.: MIT Press.
Maravall, A. and Pierce, D.A. 1983. Preliminary-data error and monetary aggregate targeting. Journal of Business and Economic Statistics 1:179–86.
Maravall, A. and Pierce, D.A. 1986. The transmission of data noise into policy noise in monetary control. Econometrica 43: 961–80.
Morgenstern, O. 1963. On the Accuracy of Economic Observations. Princeton, New Jersey: Princeton University Press.
Nelson, C.R. 1972. The prediction performance of the FRB-MIT-Penn model of the US economy. American Economic Review 62: 902–17.
Pierce, D.A. 1977. Relationships — and the lack thereof- between economic time series, with special reference to money and interest rates. Journal of the American Statistical Association 71: 11–22.
Pierce, D.A., Parke, D.W., Cleveland, W.P. and Maravall, A. 1981. Uncertainty in the monetary aggregates: sources, measurement and policy effects. Journal of Finance 36: 507–17.
Abuaf, N. and Jorion, P. 1990. Purchasing power parity in the long run. Journal of Finance 45: 157–74.
Baillie, R.T. and Bollerslev, T. 1989. The message in daily exchange rates: a conditional variance tale. Journal of Business and Economic Statistics 7(3): 297–305.
Baillie, R.T. and Bollerslev, T. 1990. A multivariate generalized ARCH approach to modeling risk premia in forward foreign exchange rate markets. Journal of International Money and Finance 9: 309–24.
Baillie, R.T. and McMahon, P. 1989. The Foreign Exchange Market: Theory and Econometric Evidence. Cambridge: Cambridge University Press.
Diebold, F.X. and Nason, J.M. 1990. Nonparametric exchange rate prediction. Journal of International Economics 28: 315–32.
Dornbusch, R. 1976. Expectations and exchange rate dynamics. Journal of Political Economy 84: 1161–76.
Frenkel, J.A. 1976. A monetary approach to the exchange rate: doctrinal aspects and empirical evidence. Scandinavian Journal of Economics 78: 200–224.
Frankel, J.A. and Froot, K.A. 1987. Using survey data to test standard propositions regarding exchange rate expectations. American Economic Review 77: 133–53.
Hodrick, R.J. 1989. Risk, uncertainty, and exchange rates. Journal of Monetary Economics 23: 433–59.
Meese, R.A. and Rogoff, R. 1983. Empirical exchange rate models of the seventies: do they fit out of sample? Journal of International Economics 14: 3–24.
Mussa, M.L. 1979. Empirical regularities in the behavior of exchange rates and theories of the foreign exchange market. In Carnegie-Rochester Series on Public Policy 11, ed. K. Brunner and A.H. Meltzer, Amsterdam: North-Holland.
Blanchard, O. 1983. Price asynchronization and price level inertia. In Inflation, Debt, and Indexation, ed. R. Dornbusch and M. Simonsen, Cambridge, Mass.: MIT Press.
Friedman, M. 1968. The role of monetary policy. American Economic Review 58, March: 1–17.
Jackman, R., Layard, R. and Nickell, S. 1991. Unemployment, Macroeconomic Performance and the Labour Market. Oxford: Oxford University Press.
Lucas, R. 1972. Expectations and the neutrality of money. Journal of Economic Theory 4(2), April: 103–24.
Taylor, J. 1980. Aggregate dynamics and staggered contracts. Journal of Political Economy 88(1): 1–23.
Tobin, J. 1980. Stabilization policy ten years after. Brookings Papers on Economic Activity 10th Anniversary Issue: 19–71.
Arrow, K.J. 1959. Towards a theory of price adjustment. In The Allocation of Economic Resources, ed. M. Abramowitz, Stanford: Stanford University Press.
Arrow, K.J. and Debreu, G. 1954. Existence of an equilibrium for a competitive economy. Econometrica 22: 265–90.
Arrow, K.J. and Hahn, F.H. 1971. General Competitive Analysis. San-Francisco: Holden-Day.
Barro, R.J. and Grossman, H.I. 1971. A general disequilibrium model of income and employment. American Economic Review 61: 82–93.
Barro, R.J. and Grossman, H.I. 1976. Money, Employment and Inflation. Cambridge: Cambridge University Press.
Bénassy, J.-P. 1975a. Neo-Keynesian disequilibrium theory in a monetary economy. Review of Economic Studies 42: 503–23.
Bénassy, J.-P. 1975b. Disequilibrium exchange in barter and monetary economies. Economic Inquiry 13:131–56.
Bénassy, J.-P. 1976. The disequilibrium approach to monopolistic price setting and general monopolistic equilibrium. Review of Economic Studies 43: 69–81.
Bénassy, J.-P. 1977a. A neo-Keynesian model of price and quantity determination in disequilibrium. In Equilibrium and Disequilibrium in Economic Theory, ed. G. Schwödiauer, Boston: Reidel Publishing Company.
Bénassy, J.-P. 1977b. On quantity signals and the foundations of effective demand theory. Scandinavian Journal of Economics 79: 147–68.
Bénassy, J.-P. 1982. The Economics of Market Disequilibrium. New York: Academic Press.
Bénassy, J.-P. 1984. A non-Walrasian model of the business cycle. Journal of Economic Behavior and Organization 5: 77–89.
Bénassy, J.-P. 1986. Macroeconomics: An Introduction to the Non-Walrasian Approach. New York: Academic Press.
Bénassy, J.-P. 1987. Imperfect competition, unemployment and policy. European Economic Review 31: 417–26.
Bénassy, J.-P. 1988. The objective demand curve in general equilibrium with price makers. Economic Journal 98, Supplement: 37–49.
Bénassy, J.-P. 1990. Non-Walrasian equilibria, money and macroeconomics. In Handbook of Monetary Economics, (eds) B. Friedman and F.H. Hahn, Amsterdam: North-Holland.
Bénassy, J.-P. 1991a. Microeconomic foundations and properties of a macroeconomic model with imperfect competition. In Issues in Contemporary Economics. Markets and Welfare, ed. K.J. Arrow, London: Macmillan.
Bénassy, J.-P. 1991b. Optimal government policy in a macroeconomic model with imperfect competition and rational expectations. In Equilibrium Theory and Applications: A Conference in Honor of Jacques Drèze, ed. W. Barnett, B. Cornet, C. D’Aspremont, J.J. Gabszewicz and A. Mas Colell, Cambridge: Cambridge University Press.
Bushaw, D.W. and Clower, R.W. 1957. Introduction to Mathematical Economics. Homewood, Ill.: Richard D. Irwin.
Chamberlin, E.H. 1933. The Theory of Monopolistic Competition. 7th edn, Cambridge, Mass.: Harvard University Press, 1956.
Clower, R.W. 1965. The Keynesian counterrevolution: a theoretical appraisal. In The Theory of Interest Rates, (eds) F.H. Hahn and F.P.R. Brechling, London: Macmillan.
Cuddington, J.T. Johansson, P.-O. and Löfgren, K.G. 1984. Disequilibrium Macroeconomics in Open Economies. Oxford: Basil Blackwell.
D’Autume, A. 1985. Monnaie, Croissance et Déséquilibre. Paris: Economica.
Debreu, G. 1959. Theory of Value. New York: Wiley.
Dixit, A.K. 1978. The balance of trade in a model of temporary equilibrium with rationing. Review of Economic Studies 45: 393–404.
Dixon, H. 1987. A simple model of imperfect competition with Walrasian features. Oxford Economic Papers 39: 134–60.
Drèze, J.H. 1975. Existence of an exchange equilibrium under price rigidities. International Economic Review 16: 301–20.
Glustoff, E. 1968. On the existence of a Keynesian equilibrium. Review of Economic Studies 35: 327–34.
Grandmont, J.-M. and Laroque, G. 1976. On Keynesian temporary equilibria. Review of Economic Studies 43: 53–67.
Greenberg, J. and Müller, H. 1979. Equilibria under price rigidities and externalities. In Game Theory and Related Topics, ed. O. Moeschlin and D. Pallaschke, Amsterdam: North-Holland.
Hahn, F.H. and Negishi, T. 1962. A theorem on non-tatonnement stability. Econometrica 30: 463–9.
Hansen, B. 1951. A Study in the Theory of Inflation. London: Allen & Unwin.
Hart, O.D. 1982. A model of imperfect competition with Keynesian features. Quarterly Journal of Economics 97:109–38.
Hicks, J.R. 1937. Mr. Keynes and the Classics: a suggested interpretation. Econometrica 5: 147–59.
Hicks, J.R. 1939. Value and Capital. Oxford: Clarendon Press, 2nd edn, 1946.
Hildenbrand, K. and Hildenbrand, W. 1978. On Keynesian equilibria with unemployment and quantity rationing. Journal of Economic Theory 18: 255–77.
Honkapohja, S. 1979. On the dynamics of disequilibria in a macro model with flexible wages and prices. In New Trends in Dynamic System Theory and Economics, (eds) M. Aoki and A. Marzollo, New York: Academic Press.
Ito, T. 1980. Disequilibrium growth theory. Journal of Economic Theory 23: 380–409.
Jacobsen, H.-J. and Schultz, C. 1990. A general equilibrium macro model with wage bargaining. Scandinavian Journal of Economics 92: 379–98.
Keynes, J.M. 1936. The General Theory of Money, Interest and Employment. Reprinted in The Collected Writings of John Maynard Keynes, vol. 7, London: Macmillan, for the Royal Economic Society, 1973.
Keynes, J.M. 1937. Alternative theories of the rate of interest. Economic Journal 47: 241–52. Reprinted in The Collected Writings of John May nard Keynes, London: Macmillan, for the Royal Economic Society, vol. 14.
Leijonhufvud, A. 1968. On Keynesian Economics and the Economics of Keynes, Oxford: Oxford University Press.
Malinvaud, E. 1977. The Theory of Unemployment Reconsidered, Oxford: Basil Blackwell.
Muellbauer, J. and Portes, R. 1978. Macroeconomic models with quantity rationing. Economic Journal 88: 788–821.
Neary, P.J. 1980. Nontraded goods and the balance of trade in a neo-Keynesian temporary equilibrium. Quarterly Journal of Economics 95:403–30.
Neary, P.J. and Stiglitz, J.E. 1983. Towards a reconstruction of Keynesian economics: expectations and constrained equilibria. Quarterly Journal of Economics 98, Supplement: 199–228.
Negishi, T. 1961. Monopolistic competition and general equilibrium. Review of Economic Studies 28:196–201.
Negishi, T. 1977. Existence of an underemployment equilibrium. In Equilibrium and Disequilibrium in Economic Theory, ed. G. Schwödiauer, Boston: D. Reidel Publishing Company.
Negishi, T. 1979. Microeconomic Foundations of Keynesian Macroeconomics, Amsterdam: North-Holland.
Patinkin, D. 1956. Money, Interest and Prices. Evanston, Ill.: Row, Peterson and Company. 2nd edn, Harper and Row, New York, 1965.
Persson, T. and Svensson, L.E.O. 1983. Is optimism good in a Keynesian economy? Economica 50: 291–300.
Picard, P. 1983. Inflation and growth in a disequilibrium macroeconomic model. Journal of Economic Theory 30: 266–95.
Portes, R. 1981. Macroeconomic equilibrium and disequilibrium in centrally planned economies. Economic Inquiry 19: 559–78.
Robinson, J. 1933. The Economics of Imperfect Competition, 2nd edn 1969, London: Macmillan and Co.
Schulz, N. 1983. On the global uniqueness of fixprice equilibria. Econometrica 51:47–68.
Silvestre, J. 1982. Fixprice analysis of exchange economies. Journal of Economic Theory 26: 28–58.
Silvestre, J. 1983. Fixprice analysis in productive economies. Journal of Economic Theory 30: 401–9.
Silvestre, J. 1988. Undominated prices in the three good model. European Economic Review 32: 161–78.
Sneessens, H. 1987. Investment and the inflation-unemployment trade off in a macroeconomic rationing model with monopolistic competition. European Economic Review 31:781–815.
Snower, D. 1983. Imperfect competition, unemployment and crowding out. Oxford Economic Papers 35: 569–84.
Solow, R.M. and Stiglitz, J.E. 1969. Output, employment and wages in the short run. Quarterly Journal of Economics 82: 537–60.
Svensson, L.E.O. 1986. Sticky goods prices, flexible asset prices, monopolistic competition and monetary policy. Review of Economic Studies 53: 385–405.
Triffin, R. 1940. Monopolistic Competition and General Equilibrium Theory, Cambridge, Mass.: Harvard University Press.
Walras, L. 1874. Eléments d’Economie politique pure, Lausanne: Corbaz. Definitive edition translated by W. Jaffe as Elements of Pure Economics, London: Allen & Unwin, 1954.
Weitzman, M.L. 1982. Increasing returns and the foundations of unemployment theory. Economic Journal 92: 787–804.
Weitzman, M.L. 1985. The simple macroeconomics of profit sharing. American Economic Review 75: 937–53.
Younes, Y. 1975. On the role of money in the process of exchange and the existence of a non-Walrasian equilibrium. Review of Economic Studies 42: 489–501.
Anscombe, F.J. and Aumann, R.J. 1963. A definition of subjective probability. Annals of Mathematical Statistics 34:199–205.
Chew, S.H. 1983. A generalization of the quasilinear mean with applications to the measurement of income inequality and decision theory resolving the Allais paradox. Econometrica 51: 1065–92.
Chew, S.H. 1989. Axiomatic utility theories with the betweenness property. Annals of Operations Research 19: 273–98.
Chew, S.H. and MacCrimmon, K.R. 1979. Alpha-nu choice theory: a generalization of expected utility theory. University of British Columbia Faculty of Commerce and Business Administration Working Paper No. 686.
Ellsberg, D. 1961. Risk, ambiguity, and the Savage axioms. Quarterly Journal of Economics 75: 643–69.
Epstein, L.G. 1991. Behavior under risk; recent developments in theory and applications. In Advances in Economic Theory, ed. J. J. Laffont, London: Cambridge University Press, forthcoming.
Epstein, L.G. and Zin, S.E. 1989. Substitution, risk aversion, and the temporal behavior of consumpion and asset returns: a theoretical framework. Econometrica 57: 937–69.
Epstein, L.G. and Zin, S.E. 1991. Substitution, risk aversion, and the temporal behavior of consumption and asset returns: an empirical analysis. Journal of Political Economy 99: 263–86.
Fishburn, P.C. 1983. Transitive measurable utility. Journal of Economic Theory 31: 293–317.
Gilboa, I. 1987. Expected utility with purely subjective nonadditive probabilities. Journal of Mathematical Economics 16: 65–88.
Kami, E. and Safra, Z. 1989. Ascending bid auctions with behaviorally consistent bidders. Annals of Operations Research 19: 435–46.
Kami, E. and Schmeidler, D. 1991a. Utility theory with uncertainty. In Handbook of Mathematical Economics, vol. 4, ed. W. Hildenbrand and H. Sonnenschein, New York and Amsterdam: North Holland.
Kami, E. and Schmeidler, D. 1991b. Atemporal dynamic consistency and expected utility theory. Journal of Economic Theory 54:401–8.
Machina, M.J. 1982. ‘Expected utility’ analysis without the independence axiom. Econometrica 50: 277–323.
Machina, M.J. 1989. Dynamic consistency and non-expected utility models of choice under uncertainty. Journal of Economic Literature 27:1622–68.
Machina, M.J. and Schmeidler, D. 1990. A more robust definition of subjective probability. Mimeo.
Quiggin, J. 1982. A theory of anticipated utility. Journal of Economic Behavior and Organization 3: 323–43.
Savage, L.J. 1954. The Foundations of Statistics. New York: John Wiley & Sons.
Schmeidler, D. 1986. Integral representation without additivity. Proceedings of the American Mathematical Society 97: 255–61.
Schmeidler, D. 1989. Subjective probability and expected utility without additivity. Econometrica 57: 571–87.
Segal, U. 1990. Two-stage lotteries without the reduction axiom. Econometrica 58: 349–78.
von Neumann, J. and Morgenstern, O. 1947. Theory of Games and Economic Behavior. 2nd edn, Princeton: Princeton University Press.
Wakker, P.P. 1989. Additive Representation of Preferences, A New Foundation of Decision Analysis. Dordrecht: Kluwer Academic Publishers.
Yaari, M.E. 1987. The dual theory of choice under risk. Econometrica 55: 95–116.
Beaver, W., Eger, C., Ryan, S. and Wolfson, M. 1989. Financial reporting, supplemental disclosures, and bank share prices. Journal of Accounting Research 27: 157–78.
Simonson, D.G. 1987. Banks that fail. United States Banker, September: 78–80.
Chiappori, P.-A. and Verdier, T. 1991. Interest rate deregulation and bank competition. Mimeo, DELTA, Paris.
Dixit, A. 1979. Quality and quantity competition. Review of Economic Studies 46: 587–99.
Matutes, C. and Padilla, J. 1991. Shared ATM networks and banking competition. Mimeo, IAE, University of Barcelona.
Matutes, C. and Vives, X. 1991. Competition for deposits and risk of failure in banking. Mimeo, IAE, University of Barcelona.
Salop, S. 1979. Monopolistic competition with outside goods. Bell Journal of Economics 10(1): 141–56.
Startz, R. 1979. Implicit interest on demand deposits. Journal of Monetary Economics V: 515–34.
Startz, R. 1983. Competition and interest rate ceilings in commercial banking. Quarterly Journal of Economics XCVIII: 255–66.
Atchison, M., Butler, K. and Simonds, R. 1987. Nonsynchronous security trading and market index autocorrelation. Journal of Finance 42:111–18.
Cohen, K., Maier, S., Schwartz, R. and Whitcomb, D. 1978. The returns generation process, returns variance, and the effect of thinness in securities markets. Journal of Finance 33:149–67.
Cohen, K., Maier, S., Schwartz, R. and Whitcomb, D. 1979. On the existence of serial correlation in an efficient securities market. TIMS Studies in the Management Sciences 11: 151–68.
Cohen, K., Hawawini, G., Maier, S., Schwartz, R. and Whitcomb, D. 1983a. Estimating and adjusting for the intervalling-effect bias in beta. Management Science 29: 135–48.
Cohen, K., Hawawini, G., Maier, S., Schwartz, R. and Whitcomb, D. 1983b. Friction in the trading process and the estimation of systematic risk. Journal of Financial Economics 12: 263–78.
Dimson, E. 1979. Risk measurement when shares are subject to infrequent trading. Journal of Financial Economics 7: 197–226.
Fisher, L. 1966. Some new stock market indexes. Journal of Business 39:191–225.
Fowler, D. and Rorke, C. 1983. Risk measurement when shares are subject to infrequent trading. Journal of Financial Economics 12: 279–83.
Handa, P., Kothari, S. and Wasley, C. 1989. The relation between the return interval and betas. Journal of Financial Economics 23: 79–100.
Lo, A. and MacKinlay, A. 1988a. Stock market prices do not follow random walks: evidence from a simple specification test. Review of Financial Studies 1: 41–66.
Lo, A. and MacKinlay, A. 1988b. Notes on a Markov model of nonsynchronous trading. Working paper, Sloan School of Management, Massachusetts Institute of Technology.
Lo, A. and MacKinlay, A. 1989. An econometric analysis of nonsynchronous trading. Journal of Econometrics 45: 181–211.
Lo, A. and MacKinlay, A. 1990. When are contrarian profits due to stock market overreaction? Review of Financial Studies 3: 175–206.
Muthuswamy, J. 1990. Asynchronous closing prices and spurious autocorrelation in portfolio returns. Working paper, Fuqua School of Business, Duke University.
Scholes, M. and Williams, J. 1977. Estimating beta from non- synchronous data. Journal of Financial Economics 5: 309–27.
Shanken, J. 1987. Nonsynchronous data and the covariance structure of returns. Journal of Finance 42: 221–31.
Berg, S.A., Forsund, F.R. and Jansen, E.S. 1991. Malmquist indices of productivity growth during the deregulation of Norwegian banking 1980–89. Norges Bank Arbeidsnotat (Working Paper) no. 2.
Edison, H.J. and Vârdal, E. 1990. Optimal currency baskets for small, developed economies. Scandinavian Journal of Economics 92(4): 559–71.
Isachsen, A.J. (ed.) 1991. Ni Artikler om Penger, Kreditt og Valuta. Oslo: Universitetsforlaget.
Mundaca, E.G. 1991. The volatility of the Norwegian currency basket. Scandinavian Journal of Economics 93(1): 53–73.
Norges Bank. 1989. Norwegian credit markets. Norwegian monetary and credit policy. Norges Banks Skriflserie no. 17.
Norges Offentlige Utredninger (NOU). 1989. Penger og Kreditt i en Omstillingstid. (NOU 1989:1). Oslo: Government Printing Office.
Vikøren, B. 1989. Hvilke Muligheter har Norge til å føre en Selvstendig Rentepolitikk? Norsk Økonomisk Tidsskrift 103(1): 37–61.
Cargill, T.F. and Garcia, G.G. 1982. Financial Deregulation and Monetary Control: Historical Perspective and Impact of the 1980 Art. Stanford, California: Hoover Institution Press.
Munn, G.G. and Garcia, F.L. 1991. Encyclopedia of Banking and Finance. Ninth Edition. Boston: Bankers Publishing Company.
National Association of Mutual Savings Banks (NAMSB). Various years. Annual Report. Washington DC: NAMSB.
Woerheide, W.J. 1984. The Savings and Loan Industry: Current Problems and Possible Solutions. Westport, Connecticut: Quorum Books.
Editor information
Copyright information
© 1992 Palgrave Macmillan, a division of Macmillan Publishers Limited
About this chapter
Cite this chapter
Newman, P., Milgate, M., Eatwell, J. (1992). N. In: Newman, P., Milgate, M., Eatwell, J. (eds) The New Palgrave Dictionary of Money & Finance. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-11721-5_1
Download citation
DOI: https://doi.org/10.1007/978-1-349-11721-5_1
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-11723-9
Online ISBN: 978-1-349-11721-5
eBook Packages: Palgrave History CollectionHistory (R0)