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A Modigliani-Miller theorem for open-market operations


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  • Neil Wallace
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    Bibliographic Info

    Paper provided by Federal Reserve Bank of Minneapolis in its series Staff Report with number 44.

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    Date of creation: 1979
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    Publication status: Published in American Economic Review (Vol.71, n.3, June 1981, pp.267-274)
    Handle: RePEc:fip:fedmsr:44

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    1. Bryant, John & Wallace, Neil, 1979. "The Inefficiency of Interest-bearing National Debt," Journal of Political Economy, University of Chicago Press, vol. 87(2), pages 365-81, April.
    2. Joseph E. Stiglitz, 1967. "A Re-Examination of the Modigliani Miller Theorem," Cowles Foundation Discussion Papers 242, Cowles Foundation for Research in Economics, Yale University.
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    Blog mentions

    As found by, the blog aggregator for Economics research:
    1. Wallace 1981 AER Puzzle
      by Richard H. Serlin in Richard H. Serlin on 2012-08-09 04:58:00
    2. Want to Understand the Intuition for Wallace Neutrality (QE Can't Work), and Why it's Wrong in the Real World?
      by Richard H. Serlin in Richard H. Serlin on 2012-09-09 10:26:00
    3. Blogs review: Wallace Neutrality and Balance Sheet Monetary Policy
      by ? in Bruegel blog on 2012-09-10 12:37:48
    4. Monetary Policy Confusion
      by Stephen Williamson in Stephen Williamson: New Monetarist Economics on 2013-06-20 20:50:00
    5. Wallace Neutrality Roundup: QE May Work in Practice, But Can It Work in Theory?
      by ? in Confessions of a Supply-Side Liberal on 2013-10-08 00:30:46
    6. The Intuition behind Wallace Neutrality, Attempt 3
      by Richard H. Serlin in Richard H. Serlin on 2014-08-10 22:38:00


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