An examination of the asymmetric effects of money supply shocks in the pre-World War I and interwar periods

Economic Inquiry

Volumn 42, Issue 1, 2004, Pages 88-100

  Parker, Randall E ^a   Rothman, Philip ^a  

^a EAST CAROLINA UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0842307502     PISSN: 00952583     EISSN: None     Source Type: Journal    
DOI: 10.1093/ei/cbh046     Document Type: Review

References (40)

1. Balke, N., and R. J. Gordon. "The American Business Cycle: Historical Data," in The American Business Cycle: Continuity and Change, edited by R. J. Gordon. Chicago: University of Chicago Press, 1986, 781-850.
2. Ball, L., and N. G. Mankiw. "Asymmetric Price Adjustment and Economic Fluctuations." Economic Journal, 104(423), 1994, 247-61.
3. Barro, R. J. "Unanticipated Money Growth and Unemployment in the United States." American Economic Review, 67(2), 1977, 101-15.
4. _. "Unanticipated Money, Output, and the Price Level in the United States." Journal of Political Economy, 86(4), 1978, 549-80.
5. Belongia, M. T. "Measurement Matters - Recent Results from Monetary Economics Reexamined." Journal of Political Economy, 104(5), 1996, 1065-83.
6. Bernanke, B. S. "Nonmonetary Effects of the Financial Crisis in Propagation of the Great Depression." American Economic Review, 73(3), 1983, 257-76.
7. Bernanke, B. S., and A. S. Blinder. "The Federal Funds Rate and the Channels of Monetary Transmission." American Economic Review, 82(4), 1992, 901-21.
8. Board of Governors of the Federal Reserve System. Banking and Monetary Statistics. Washington, D.C., 1943.
9. Board of Governors of the Federal Reserve System. Federal Reserve Bulletin. Washington, D.C., various issues.
10. Bordo, M. D., C. Erceg, and C. Evans. "Money, Wages, and the Great Depression." American Economic Review, 90(5), 2000, 1447-63.
11. Boswijk, H. P., and J. A. Doornik. "Distribution Approximations for Cointegration Tests with Stationary Exogenous Regressors." Working Paper, Universiteit van Amsterdam, 2002.
12. Cecchetti, S. G. "Prices during the Great Depression: Was the Deflation of 1930-32 Really Unanticipated?" American Economic Review, 82(1), 1992, 141-56.
13. Chari, V. V., P. J. Kehoe, and E. R. McGrattan. "Accounting for the Great Depression." American Economic Review, 92(2), 2002, 22-27.
14. Cole, H. L., and L. E. Ohanian. "The U.S. and U.K. Great Depressions Through the Lens of Neoclassical Growth Theory." American Economic Review, 92(2), 2002, 28-32.
15. Cooley, T. F., and G. D. Hansen. "Money and the Business Cycle," in Frontiers of Business Cycle Research, edited by T. F. Cooley. Princeton: Princeton University Press, 1995, 175-216.
16. Cover, J. P. "Asymmetric Effects of Positive and Negative Money-Supply Shocks." Quarterly Journal of Economics, 107(4), 1992, 1261-82.
17. DeLong, J. B., and L. H. Summers. "How Does Macroeconomic Policy Affect Output?" Brookings Papers on Economic Activity, 1988(2), 1988, 433-90.
18. Demery, D. D., and N. W. Duck. "Asymmetric Effects of Aggregate Demand: An Empirical Test of a Menu-Cost Model." Journal of Macroeconomics, 22(1), 2000, 29-51.
19. Dominguez, K. M., R. C. Fair, and M. D. Shapiro. "Forecasting the Depression: Harvard versus Yale." American Economic Review, 78(4), 1988, 595-612.
20. Eichengreen, B. Golden Fetters: The Gold Standard and the Great Depression 1919-39. New York: Oxford University Press, 1992.
21. Evans, M., and P. Wachtel. "Were Price Changes during the Great Depression Anticipated? Evidence from Nominal Interest Rates." Journal of Monetary Economics, 32(1), 1993, 3-34.
22. Evans, P. "Does the Potency of Monetary Policy Vary with Capacity Utilization?" Carnegie-Rochester Conference Series on Public Policy, 24(Spring), 1986, 303-32.
23. Friedman, M., and A. J. Schwartz. A Monetary History of the United States, 1867-1960. Princeton: Princeton University Press, 1963.
24. Hamilton, J. D. "Was the Deflation during the Great Depression Anticipated? Evidence from the Commodity Futures Market." American Economic Review, 82(1), 1992, 157-78.
25. Hoover, Herbert. The Memoirs of Herbert Hoover. New York: Macmillan, 1952.
26. Karras, G. "Are the Output Effects of Monetary Policy Asymmetric? Evidence from a Sample of European Countries." Oxford Bulletin of Economics and Statistics, 58(2), 1996a, 267-78.
27. _. "Why Are the Effects of Money-Supply Shocks Asymmetric? Convex Aggregate Supply or 'Pushing on a String'?" Journal of Macroeconomics, 18(4), 1996b, 605-19.
28. Lai, P., and J. P. Cover. "Does Inflation Cause the Asymmetric Effects of Money Supply-Shocks?" Journal of Economic Research, 4(2), 1999, 123-37.
29. Lee, J. "The Great Depression and Asymmetric Monetary Policy Effects." Working Paper, Texas A&M University - Corpus Christi, 2000.
30. Macklem, T., A. Paquet, and L. Phaneuf. "Asymmetric Effects of Monetary Policy: Evidence from the Yield Curve." Working Paper, University of Quebec at Montreal, 1996.
31. Mishkin, F. S. "Does Anticipated Policy Matter? An Econometric Investigation." Journal of Political Economy, 90(1), 1982, 22-51.
32. Morgan, D. "Asymmetric Effects of Monetary Policy." Federal Reserve Bank of Kansas City Economic Review, 78(2), 1993, 20-33.
33. Nelson, D. B. "Was the Deflation of 1929-1930 Anticipated? The Monetary Regime as Viewed by the Business Press," in Research in Economic History, edited by R. Ransom. Greenwich, CT: JAI Press, 1991, 1-65.
34. O'Brien, A. P. "A Behavioral Explanation for Nominal Wage Rigidity during the Great Depression." Quarterly Journal of Economics, 104(4), 1989, 719-35.
35. Pagan, A. "Econometric Issues in the Analysis of Regressions with Generated Regressors." International Economic Review, 25(1), 1984, 221-47.
36. Parker, R. E. Reflections on the Great Depression. Cheltenham, U.K.: Edward Elgar, 2002.
37. Ravn, Morten O., and Martin Sola. "Asymmetric Effects of Monetary Policy in the U.S.: Positive versus Negative or Big versus Small?" Working Paper, Universitat Pompeu Fabra, 1999.
38. Rhee, W., and R. W. Rich. "Inflation and the Asymmetric Effects of Money on Output Fluctuations." Journal of Macroeconomics, 17(4), 1995, 683-702.
39. Rothman, P., D. van Dijk, and P. H. Franses. "A Multivariate STAR Analysis of the Relationship between Money and Output." Macroeconomic Dynamics, 5(4), 2001, 506-32.
40. Senda, T. "Asymmetric Effects of Money Supply Shocks and Trend Inflation." Journal of Money, Credit and Banking, 33(1), 2001, 65-89.