Research Economists

All Publications and Papers for

Neil Wallace

Consultant



An Attractive Monetary Model with Surprising Implications for Optima: Two Examples

March 2014 - Quarterly Review

Knowledge of Individual Histories and Optimal Payment Arrangements

Summer 2000 - Quarterly Review

Optimal Monetary Impulse-Response Functions in a Matching Model

September 1999 - Working Paper 595

A Dictum for Monetary Theory

Winter 1998 - Quarterly Review

The Role of Damage-Contingent Contracts in Allocating the Risks of Natural Catastrophes

April 1998 - Working Paper 586

Absence-of-Double-Coincidence Models of Money: A Progress Report

Winter 1997 - Quarterly Review

S. Rao Aiyagari: My Student and My Teacher

Summer 1997 - Quarterly Review

A Model of Regulated Private Bank-Note Issue

April 1997 - Working Paper 581

Optimal Allocations With Incomplete Record-Keeping and No Commitment

Revised February 1997 - Working Paper 578

Narrow Banking Meets the Diamond-Dybvig Model

Winter 1996 - Quarterly Review

Short-Run and Long-Run Effects of Changes in Money in a Random Matching Model

Revised October 1996 - Working Paper 568
Published In: Journal of Political Economy (Vol. 105, No. 6, December 1997, pp. 1293-1307)

A Model of a Currency Shortage

August 1996 - Working Paper 569
Published In: Journal of Monetary Economics (Vol. 40, No. 3, December 1997, pp. 555-572)

Coexistence of Money and Interest-Bearing Securities

Revised April 1996 - Working Paper 550
Published In: Journal of Monetary Economics (Vol. 37, No. 3, June 1996, pp. 397-419)

Government Transaction Policy, the Medium of Exchange, and Welfare

Revised June 1995 - Working Paper 516
Published In: Journal of Economic Theory (Vol. 74, No. 1, May 1997, pp. 1-18)

Interest Rates Under the U.S. National Banking System

Revised February 1994 - Staff Report 161
Published In: Journal of Monetary Economics (Vol. 34, No. 3, 1994, pp. 343-358)

SPDAs and GICs: Like Money in the Bank?

Summer 1992 - Quarterly Review

Resolving the National Bank Note Paradox

Spring 1992 - Quarterly Review

Existence of Steady States With Positive Consumption in the Kiyotaki-Wright Model

Revised May 1991 - Working Paper 428
Published In: Review of Economic Studies (Vol. 58, No. 5, October 1991, pp. 901-916)

A Suggestion for Oversimplifying the Theory of Money

Winter 1990 - Quarterly Review
Published In: The foundations of monetary economics (Vol. 1, 1999, pp. 213-224)
Published In: Free banking (Vol. 3, 1993, pp. 246-257)
Published In: Economic Journal (Vol. 98, No. 390, 1988)

Why Markets in Foreign Exchange Are Different From Other Markets

Winter 1990 - Quarterly Review
Published In: Quarterly Review (Vol. 3, No. 4, Fall 1979, pp. 1-7)

A Banking Model in Which Partial Suspension Is Best

Fall 1990 - Quarterly Review

Another Attempt to Explain an Illiquid Banking System: The Diamond and Dybvig Model With Sequential Service Taken Seriously

Fall 1988 - Quarterly Review

A Shred of Evidence on Public Acceptance of Privately Issued Currency

Winter 1985 - Quarterly Review

Suspension and the Financing of the Civil War: A Critique of Newcomb and Mitchell

Revised June 1985 - Working Paper 265

Ricardian Equivalence and Money Dominated in Return: Are They Mutually Consistent Generally?

May 1985 - Staff Report 99

International Coordination of Macroeconomic Policies: A Welfare Analysis

Spring 1985 - Quarterly Review
Published In: The rational expectations revolution: Readings from the front line (1994, pp. 209-241)

Identification and Estimation of a Model of Hyperinflation With a Continuum of "Sunspot" Equilibrium

April 1985 - Working Paper 280

National Monetary Policies in a World Economy: A Role for Cooperation

Revised February 1985 - Working Paper 268

Some of the Choices for Monetary Policy

Winter 1984 - Quarterly Review
Published In: The rational expectations revolution: Readings from the front line (1994, pp. 85-101)

A Legal Restrictions Theory of the Demand for "Money" and the Role of Monetary Policy

Winter 1983 - Quarterly Review
Published In: The rational expectations revolution: Readings from the front line (1994, pp. 73-83)
Published In: Free banking (Vol. 3, 1993, pp. 217-223)

Speculations About the Speculation Against the Hong Kong Dollar

Fall 1983 - Quarterly Review

A Price Discrimination Analysis of Monetary Policy

Revised April 1983 - Staff Report 51
Published In: Review of Economic Studies (Vol. 51, No. 2, April 1984, pp. 279-288)
Published In: The new classical macroeconomics (Vol. 2, 1992, pp. 430-439)

A Model of Commodity Money

January 1983 - Staff Report 85
Published In: Journal of Monetary Economics (Vol. 12, No. 1, July 1983, pp. 163-187)

A Model of Circulating Private Debt

August 1982 - Staff Report 83

Some Unpleasant Monetarist Arithmetic

Fall 1981 - Quarterly Review
Published In: The foundations of monetary economics (Vol. 3, 1999, pp. 321-337)
Published In: The rational expectations revolution: Readings from the front line (1994, pp. 103-129)
Published In: The theory of inflation (1994, pp. 291-307)
Published In: The new classical macroeconomics (Vol. 1, 1992, pp. 324-340)
Published In: Monetarism in the United Kingdom (1984, pp. 15-41)
Published In: Fiscal and monetary policy (Vol. 1, 1995, pp. 285-301)

The Real Bills Doctrine Vs. the Quantity Theory: A Reconsideration

January 1981 - Staff Report 64
Published In: Journal of Political Economy (Vol. 90, No. 6, December 1982, pp. 1212-1236)
Published In: The new classical macroeconomics (Vol. 2, 1992, pp. 440-464)

A Suggestion for Further Simplifying the Theory of Money

Revised December 1980 - Staff Report 62

Integrating Micro and Macroeconomics: An Application to Credit Controls

Fall 1980 - Quarterly Review

A Hybrid Fiat-Commodity Monetary System

August 1980 - Staff Report 61
Published In: Journal of Economic Theory (Vol. 25, No. 3, December 1981, pp. 421-430)

Why Markets in Foreign Exchange Are Different From Other Markets

Fall 1979 - Quarterly Review
Published In: The rational expectations revolution: Readings from the front line (1994, pp. 197-208)

A Modigliani-Miller Theorem for Open-Market Operations

July 1979 - Staff Report 44
Published In: American Economic Review (Vol 71, Num 3, June 1981, pp. 267-274)

Monetary Policy in the Presence of a Stochastic Deficit

April 1979 - Staff Report 42

Open-Market Operations in a Model of Regulated, Insured Intermediaries

April 1979 - Staff Report 34
Published In: Journal of Political Economy (Vol. 88, No. 1, February 1980, pp. 146-173)

The Overlapping-Generations Model of Fiat Money

October 1978 - Staff Report 37
Published In: The new classical macroeconomics (Vol. 2, 1992, pp. 379-412)

Samuelson’s Consumption-Loan Model With Country-Specific Fiat Monies

September 1978 - Staff Report 24

International Monetary Reform: The Feasible Alternatives

Summer 1978 - Quarterly Review

The Inefficiency of a Nominal National Debt

October 1977 - Staff Report 28
Published In: Journal of Political Economy (Vol 87, Num 2, 1979, pp. 365-381)

Samuelson’s Pure Consumption Loans Model With Constant Returns-to-Scale Storage

September 1977 - Staff Report 23

Why the Fed Should Consider Holding M0 Constant

Summer 1977 - Quarterly Review

On Simplifying the Theory of Fiat Money

June 1977 - Staff Report 22

A Payments Mechanism Without Fed Involvement and Fed Monetary Policy Without Required Reserves

February 1977 - Staff Report 15

Deposit Insurance and Bank Regulation: A Partial Equilibrium Exposition

January 1977 - Staff Report 16
Published In: Journal of Business (Vol. 51, No. 3, July 1978, pp. 413-438)

Portfolio Autarky: A Welfare Analysis

Revised February 1976 - Staff Report 9
Published In: Journal of International Economics (Vol. 7, No. 1, February 1977, pp. 19-43)

Rational Expectations and the Theory of Economic Policy

August 1974 - Working Paper 29
Published In: Essential readings in economics (1995, pp. 366-382)
Published In: The new classical macroeconomics (Vol. 1, 1992, pp. 275-289)
Published In: Journal of Monetary Economics (Vol. 2, No. 2, April 1976, pp. 169-183)
Published In: The foundations of monetary economics (Vol. 3, 1999, pp. 223-237)
Published In: Economic policy (Vol. 1, 1998, pp. 301-315)

The Thomson-Pierce Monthly Model: A Test for Structural Change

May 1972 - Working Paper 76

 
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