Neil Wallace | Academic Influence

Why Is Neil Wallace Influential?

According to Wikipedia, Neil Wallace is an American economist and professor at Pennsylvania State University. Wallace is considered one of the main proponents of new classical macroeconomics. He became professor at Penn State in 1997, after holding professorships at the University of Minnesota , and the University of Miami .

Neil Wallace's Published Works

Number of citations in a given year to any of this author's works

Total number of citations to an author for the works they published in a given year. This highlights publication of the most important work(s) by the author

Published Papers

"Rational" Expectations, the Optimal Monetary Instrument, and the Optimal Money Supply Rule (1545)
Some Unpleasant Monetarist Arithmetic (1445)
Rational expectations and the theory of economic policy (597)
A Modigliani-Miller Theorem for Open-Market Operations (519)
Deposit Insurance and Bank Regulation: A Partial-Equilibrium Exposition (431)
On the indeterminacy of equilibrium exchange rates (424)
Rational Expectations and the Dynamics of Hyperinflation (394)
Another attempt to explain an illiquid banking system: the Diamond and Dybvig model with sequential service taken seriously (361)
The overlapping-generations model of fiat money (304)
THE STABILITY OF MODELS OF MONEY AND GROWTH WITH PERFECT FORESIGHT (303)
Whither Monetary Economics (267)
The Real-Bills Doctrine versus the Quantity Theory: A Reconsideration (264)
Life-cycle Economies and Aggregate Fluctuations (234)
Inside and outside Money as Alternative Media of Exchange (228)
A legal restrictions theory of the demand for \\"money\\" and the role of monetary policy (184)
A Model of Private Bank-Note Issue (174)
Models of monetary economies (171)
Coexistence of money and interest-bearing securities (168)
Incomplete Record-Keeping and Optimal Payment Arrangements (166)
Contractual Arrangements for Intertemporal Trade (142)
A banking model in which partial suspension is best (136)
Existence of steady states with positive consumption in the Kiyotaki-Wright model (119)
Optimal Open Market Strategy: The Use of Information Variables (114)
Narrow Banking Meets the Diamond-Dybvig Model (99)
A model of commodity money (93)
Coalition‐Proof Trade and the Friedman Rule in the Lagos‐Wright Model (91)
Government transaction policy, the medium of exchange, and welfare (80)
A Price Discrimination Analysis of Monetary Policy (79)
Pairwise trade and coexistence of money and higher-return assets (73)
The Inefficiency of Interest-bearing National Debt (71)
Interest on reserves (70)
Inflation and the Government Budget Constraint (70)
The mechanism design approach to monetary theory (68)
A Dictum for Monetary Theory (66)
A Model of (the Threat of) Counterfeiting (60)
Fiat money in the Kiyotaki-Wright model (59)
Bitcoin 1, Bitcoin 2, ....: An Experiment in Privately Issued Outside Monies (56)
Optimal money creation in “pure currency” economies: a conjecture (54)
A suggestion for further simplifying the theory of money (51)
Nonfundamental uncertainty and exchange rates (49)
Modeling Denomination Structures (48)
Short‐Run and Long‐Run Effects of Changes in Money in a Random‐Matching Model (47)
NOTES ON ESTIMATED AGGREGATE QUARTERLY CONSUMPTION FUNCTIONS (47)
Some of the choices for monetary policy (45)
A model of a currency shortage (42)
The real bills doctrine vs. the quantity theory: a reconsideration (41)
Introduction to Dynamic Macroeconomic Theory: An Overlapping Generations Approach (41)
A commodity-money refinement in matching models (39)
Open-Market Operations in a Model of Regulated, Insured Intermediaries (39)
A Matching Model with Bounded Holdings of Indivisible Money (38)
The Determinants of Investment Revisited (37)
A Model of (the Threat of) Counterfeiting (36)
Output and price level effects of monetary uncertainty in a matching model (36)
iDENTIFICATION AND ESTIMATION OF A MODEL (35)
Portfolio autarky: A welfare analysis (34)
A benefit of uniform currency (34)
Absence-of-double-coincidence models of money: a progress report (33)
Float on a Note (33)
Optimal allocations with incomplete record-keeping and no commitment (33)
Tests for Structural Change and Prediction Intervals for the reduced Forms of Two Structural Models of the U.S.: The FRB-MIT and Michigan Quarterly Models (31)
Why markets in foreign exchange are different from other markets (31)
A hybrid fiat—Commodity monetary system (27)
A Suggestion for Oversimplifying the Theory of Money (27)
A model of the liquidity structure based on asset indivisibility (26)
Market Transaction Costs, Asset Demand Functions, and the Relative Potency of Monetary and Fiscal Policy (23)
THE TERM STRUCTURE OF INTEREST RATES AND THE MATURITY COMPOSITION OF THE FEDERAL DEBT (22)
Knowledge of individual histories and optimal payment arrangements (22)
The Elasticity of Substitution and Cyclical Behavior of Productivity, Wages, and Labor's Share (21)
A Study of Discretionary and Nondiscretionary Monetary and Fiscal Policies in the Context of Stochastic Macroeconometric Models (21)
Lucas's signal-extraction model: A finite state exposition with aggregate real shocks (20)
Samuelson's consumption-loan model with country-specific fiat monies (20)
International coordination of macroeconomic policies: a welfare analysis (20)
Debt Management and the Term Structure of Interest Rates: Comment (20)
A model in which monetary policy is about money (19)
Resolving the national bank note paradox (19)
Optimal inflation in a model of inside money (19)
General Features of Monetary Models and their Significance (18)
From Private Banking to Central Banking: Ingredients of a Welfare Analysis (18)
INTRODUCTION TO MODELING MONEY AND STUDYING MONETARY POLICY (16)
Optimal divisibility of money when money is costly to produce (15)
Modeling Small Change: A Review Article (15)
Interest Rates Under the U.S. National Banking System (14)
New models of old(?) payment questions (13)
Another Example in which Lump-sum Money Creation is Beneficial (12)
A model of circulating private debt (11)
Some Unpleasant Monetarist Arithmetic Some Pleasant Monetarist Arithmetic A Reply (11)
International monetary reform: the feasible alternatives (11)
On Stabilization Policy: Goals and Models (9)
A Supply Function of First-Term Re-Enlistees to the Air Force. (9)
Why the Fed Should Consider Holding Mo Constant (9)
SPDAs and GICs: like money in the bank? (9)
On the essentiality of e-money (8)
Rational Expectations and the Theory of Economic Policy: Studies in Monetary Economic No. 2 (8)
Speculations about the speculation against the Hong Kong dollar (8)
A comment on McCallum (7)
An alternative to New-Keynesian models for the study of optimal (monetary) policy∗ (7)
The Determination of the Stock of Reserves and the Balance of Payments in a Neo-Keynesian Model (7)
Central-Bank Interest-Rate Control in a Cashless, Arrow-Debreu Economy (7)
Interest on Cash with Endogenous Fiscal Policy (6)
Trade using assets divisible at a cost (6)
Collaborative Culture: The New Workplace Reality (6)
Integrating micro and macroeconomics: an application to credit controls (5)
The Monetary Instrument Variable Choice: How Important?: Comment (5)
A shred of evidence on public acceptance of privately issued currency (5)
Arguments and Evidence (5)
Buse on Meiselman--a Comment (5)
The optimality of inflation in ‘ pure currency ’ economies : a conjecture (5)
Pairwise-core monetary trade in the Lagos-Wright model (4)
Comment on Theoretical Analysis Regarding a Zero Lower Bound on Nominal Interest Rates (4)
A GENERAL EQUILIBRIUM INTERPRETATION OF DAMAGE-CONTINGENT SECURITIES (4)
An Attractive Monetary Model with Surprising Implications for Optima: Two Examples (4)
Information aggregation in a large multi-stage market game (4)
Identification and estimation of a model of hyperinflation with a continuum of \\"sunspot\\" equilibrium (3)
Coexistence of Money and Higher-Return Assets-Again ∗ (3)
New approaches to monetary economics: Some unsolved problems for monetary theory (3)
The Statewide Economic Impact of Small-Issue Industrial Revenue Bonds (3)
Suspension and the financing of the Civil War: a critique of Newcomb and Mitchell (3)
Comment on “Moneyspots: Extraneous Attributes and the Coexistence of Money and Interest-Bearing Nominal Bonds” by Ricardo Lagos (3)
Optimal Monetary Impulse-Response Functions in a Matching Model (3)
Training and Retention of Air Force Airmen: An Economic Analysis (3)
An Approach to the Study of Money and Nonmoney Exchange Structures (3)
Samuelson's pure consumption loans model with constant returns-to-scale storage (2)
Monetary policy in the presence of a stochastic deficit (2)
A suggestion for oversimplifying the theory of money (2)
Optimality in a large two-stage market game (2)
Resolving the National Banking System Note-Issue Puzzle (2)
On simplifying the theory of fiat money (2)
A Static Nonstationary Analysis of the Interaction Between Monetary and Fiscal Policy (2)
Ricardian equivalence and money dominated in return: are they mutually consistent generally? (1)
Optimal Provision of Costly Currency (1)
National monetary policies in a world economy: a role for cooperation (1)
The role of damage-contingent contracts in allocating the risks of natural catastrophes (1)
Optimal Denominations (1)
NOTES AND COMMENTS: MODELING DENOMINATION STRUCTURES (1)
S. Rao Aiyagari: my student and my teacher (1)
Discussion of the Meyer-Rasche and Taylor Papers (1)
Estimating a Cagan-Type Demand Function for Gold: 1561-1913 (1)
The inefficiency of a nominal national debt (1)
Fixed and Flexible Exchange-rates in Two Matching Models: Non-equivalence Results (1)
The Role of Independence in the Green-Lin Diamond-Dybvig Model (1)
A model of regulated private bank-note issue (1)
Optima in heterogeneous-agent monetary economies (1)
Commentary 2 on "Search-Theoretic Models of International Currency" (0)
Another case against floating exchange rates when prices are flexible: some examples (0)
Notes on Models of Overlapping Generations (0)
Training and Retention of Air Force Airmen (0)
Notes for another paper on the dynamics of hyperinflation (0)
The Phillips Curve in a Matching Model (0)
Comparative Negligence--Oklahoma Takes a Crippled Step Forward (0)
CAN THERE BE A GENERAL EQUILIBRIUM LIQUIDITY PREFERENCE DEMAND FOR MONEY (0)
Alternative intermediate instruments of monetary policy: panel presentation (0)
Comments on "Buffer stock models of the demand for money and the conduct of monetary policy" (0)
Speculating About the Recent Speculation Against the Hong Kong Dollar (0)
The Thomson-Pierce Monthly Model: A Test for Structural Change (0)
Search-theoretic models of international currency - commentary (0)
What it means to be a New Classical Economist (0)
The Case for Imposing Cashlessness: A Review Article (0)
A new model of central-bank intervention: some examples (0)
Water Sustainability: Corporate Best Practice (0)
A new model of central-bank intervention : an example (0)
A payments mechanism without Fed involvement and Fed monetary policy without required reserves (0)
Information aggregation and expost e¢ ciency in a large, two-stage, Cournot market (0)
Information aggregation in a large two-stage market game (0)
A Price Discrimination Analysis of (0)
Book Review:The Cyclical Behavior of the Term Structure of Interest Rates Reuben A. Kessel (0)

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