A Modigliani-Miller Theorem for Open-Market Operations
Download full text from publisher
As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.
Other versions of this item:
- Neil Wallace, 1979. "A Modigliani-Miller theorem for open-market operations," Staff Report 44, Federal Reserve Bank of Minneapolis.
References listed on IDEAS
- Merton H. Miller & Daniel Orr, 1966. "A Model of the Demand for Money by Firms," The Quarterly Journal of Economics, Oxford University Press, vol. 80(3), pages 413-435.
- Stiglitz, Joseph E, 1969. "A Re-Examination of the Modigliani-Miller Theorem," American Economic Review, American Economic Association, vol. 59(5), pages 784-793, December.
- Bryant, John & Wallace, Neil, 1979. "The Inefficiency of Interest-bearing National Debt," Journal of Political Economy, University of Chicago Press, vol. 87(2), pages 365-381, April.
- Klein, Michael A, 1973. "The Economics of Security Divisibility and Financial Intermediation," Journal of Finance, American Finance Association, vol. 28(4), pages 923-931, September.
Most related itemsThese are the items that most often cite the same works as this one and are cited by the same works as this one.
- Bryant, John & Wallace, Neil, 1980.
"Open-Market Operations in a Model of Regulated, Insured Intermediaries,"
Journal of Political Economy, University of Chicago Press, vol. 88(1), pages 146-173, February.
- John Bryant & Neil Wallace, 1978. "Open-market operations in a model of regulated, insured intermediaries," Staff Report 34, Federal Reserve Bank of Minneapolis.
- John Bryant & Neil Wallace, 1979. "Monetary policy in the presence of a stochastic deficit," Staff Report 42, Federal Reserve Bank of Minneapolis.
- John Bryant & Neil Wallace, 1977. "The inefficiency of a nominal national debt," Staff Report 28, Federal Reserve Bank of Minneapolis.
- John Bryant & Neil Wallace, 1980. "A suggestion for further simplifying the theory of money," Staff Report 62, Federal Reserve Bank of Minneapolis.
- Tiziana La Rocca & Maurizio La Rocca & Francesco Fasano & Alfio Cariola, 2023. "Does a country's environmental policy affect the value of small and medium sized enterprises liquidity in the energy sector?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(1), pages 277-290, January.
- Robin Döttling & Tomislav Ladika & Enrico Perotti, 2016. "The (Self-)Funding of Intangibles," Tinbergen Institute Discussion Papers 16-093/IV, Tinbergen Institute.
- Fernando Alvarez & Francesco Lippi & Roberto Robatto, 2019. "Cost of Inflation in Inventory Theoretical Models," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 32, pages 206-226, April.
- Hartmann-Wendels, Thomas, 2012. "Regulatorische Folgen der Finanzkrisen: Auswirkungen auf die Leasing-Branche," Leasing - Wissenschaft & Praxis, Universität zu Köln, Forschungsinstitut für Leasing, vol. 10(1), pages 3-88.
- Javier Gómez P., 1998. "La Demanda Por Dinero En Colombia," Borradores de Economia 2969, Banco de la Republica.
- Pinkowitz, Lee & Stulz, Rene M. & Williamson, Rohan, 2012. "Multinationals and the High Cash Holdings Puzzle," Working Paper Series 2012-10, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
- Margherita Bottero & Stefano schiaffi, 2022. "Firm liquidity and the transmission of monetary policy," Temi di discussione (Economic working papers) 1378, Bank of Italy, Economic Research and International Relations Area.
- Jukka Isohätälä & Alistair Milne & Donald Robertson, 2020.
"The Net Worth Trap: Investment and Output Dynamics in the Presence of Financing Constraints,"
Mathematics, MDPI, vol. 8(8), pages 1-32, August.
- Isohätälä, Jukka & Milne, Alistair & Robertson, Donald, 2014. "The net worth trap: investment and output dynamics in the presence of financing constraints," Bank of Finland Research Discussion Papers 26/2014, Bank of Finland.
- Andrey Pavlov & Panikkos Poutziouris & Khaled Soufani, 2004. "Evaluating Flexibility in Small Firm Financing," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 9(1), pages 73-97, Spring.
- John S. Strong & John R. Meyer, 1990. "Sustaining Investment, Discretionary Investment, and Valuation: A Residual Funds Study of the Paper Industry," NBER Chapters, in: Asymmetric Information, Corporate Finance, and Investment, pages 127-148, National Bureau of Economic Research, Inc.
- Fritz Foley, C. & Hartzell, Jay C. & Titman, Sheridan & Twite, Garry, 2007.
"Why do firms hold so much cash? A tax-based explanation,"
Journal of Financial Economics, Elsevier, vol. 86(3), pages 579-607, December.
- C. Fritz Foley & Jay C. Hartzell & Sheridan Titman & Garry Twite, 2006. "Why do firms hold so much cash? A tax-based explanation," NBER Working Papers 12649, National Bureau of Economic Research, Inc.
- Andrew B. Abel & Stavros Panageas, 2020. "Precautionary Saving in a Financially-Constrained Firm," NBER Working Papers 26628, National Bureau of Economic Research, Inc.
- Preston J. Miller, 1983. "Higher deficit policies lead to higher inflation," Quarterly Review, Federal Reserve Bank of Minneapolis, vol. 7(Win).
- Opler, Tim & Pinkowitz, Lee & Stulz, Rene & Williamson, Rohan, 1999.
"The determinants and implications of corporate cash holdings,"
Journal of Financial Economics, Elsevier, vol. 52(1), pages 3-46, April.
- Tim Opler & Lee Pinkowitz & Rene Stulz & Rohan Williamson, 1997. "The Determinants and Implications of Corporate Cash Holdings," NBER Working Papers 6234, National Bureau of Economic Research, Inc.
- Jan Tin, 2010. "Bequest motives and household money demand," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 34(3), pages 269-283, July.
- Fumio Hayashi, 1983. "Real and Financial Decisions of a Firm with Bankruptcy and Default: An Integration," NBER Working Papers 1097, National Bureau of Economic Research, Inc.
More about this item
ListsThis item is featured on the following reading lists, Wikipedia, or ReplicationWiki pages:
- Wallace neutrality in Wikipedia English
StatisticsAccess and download statistics
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aea:aecrev:v:71:y:1981:i:3:p:267-74. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: . General contact details of provider: https://edirc.repec.org/data/aeaaaea.html .
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Michael P. Albert (email available below). General contact details of provider: https://edirc.repec.org/data/aeaaaea.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.