Could I have a list of challenging research topics /areas that are of
current relevance in the field of monetary economics?

I am currently an MSC student in Economics. I plant to enrol for a PHD
degree scheme in Economics this year but I am having some difficulty
in choosing a research topic. Could you give me some ideas?

---

Request for Question Clarification by easterangel-ga on 08 Feb 2004 15:03 PST

Hi eddyed-ga!

The following questions pose some difficulties for us researchers
since what is challenging and a good research topic is of a purely
subjective nature, we will have difficulty providing a list that we
are sure would be satisfavtory to you.

I have found some samples abstracts of Monetary Economics research
papers on the web. Will just a listin of these papers be enough so as
to help you in coming up with an original research topic that you can
formulate? Some samples are the following...

"Inflation Illusion and Stock Prices"
http://papers.nber.org/papers/W10263

"Industry Dynamics with Adjustment Costs"
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=305075

Would a listing of such kinds of papers be ok as answer? 

Thanks! :)

---

Clarification of Question by eddyed-ga on 11 Feb 2004 12:38 PST

Thank you for your efforts. Yes, they are okay. I would like suggested
research topics on different fields of monetary economics. For
instance, on currency, monetary policy, etc. The more suggestions, the
better it is for me as it would give me a wider scope o ideas.

Yours faithfully,

Edna

Hi! Thanks for the question.

I have found the following abstracts and/or full document versions of
sample papers about monetary economics that you could use to formulate
your own research paper.

MONETARY POLICY:

?Monetary and Fiscal Remedies for Deflation?
http://papers.nber.org/papers/W10290

?Chaotic Interest Rate Rules: Expanded Version?
http://papers.nber.org/papers/W10272 

?Deflation and Depression: Is There and Empirical Link??
http://papers.nber.org/papers/W10268 

?Optimal Simple and Implementable Monetary and Fiscal Rules?
http://papers.nber.org/papers/W10253 

?Measuring the Effects of Monetary Policy: A Factor-Augmented Vector
Autoregressive (FAVAR) Approach?
http://papers.nber.org/papers/W10220

?Optimal Policy with Low-Probability Extreme Events?
http://papers.nber.org/papers/W10196

?Escaping from a Liquidity Trap and Deflation: The Foolproof Way and Others?
http://papers.nber.org/papers/W10195 

?Gold, Fiat Money, and Price Stability?
http://papers.nber.org/papers/W10171

?How Do Banks Set Interest Rates??
http://papers.nber.org/papers/W10295 

?Aggregate Supply and Potential Output?
http://papers.nber.org/papers/W10294

?Helicopter Money: Irredeemable Fiat Money and the Liquidity Trap?
http://papers.nber.org/papers/W10163

?Optimal Fiscal and Monetary Policy Under Imperfect Competition?
http://papers.nber.org/papers/W10149

?External Constraints on Monetary Policy and the Financial Accelerator?
http://papers.nber.org/papers/W10128

?Cross-Border Tax Externalities: Are Budget Deficits Too Small??
http://papers.nber.org/papers/W10110

?The Optimal Degree of Discretion in Monetary Policy?
http://papers.nber.org/papers/W10109

?Monetary Policies for Developing Countries: The Role of Corruption?
http://papers.nber.org/papers/W10093

?Money in a Theory of Banking?
http://papers.nber.org/papers/W10070

?Policy Evaluation in Uncertain Economic Environments?
http://papers.nber.org/papers/W10025

?Inflation Targeting in Emerging Market Economies?
http://papers.nber.org/papers/W10019

?On the Sluggish Response of Prices to Money in an Inventory-Theoretic
Model of Money Demand?
http://papers.nber.org/papers/W10016

?The Case of the Missing Productivty Growth: Or, Does Information
Technology Explain why Productivity Accelerated in the US but not the
UK??
http://papers.nber.org/papers/W10010

?Medium Term Business Cycles?
http://papers.nber.org/papers/W10003 

?The Output Composition Puzzle: A Difference in the Monetary
Transmission Mechanism in the Euro Area and U.S.?
http://papers.nber.org/papers/W9985 

?Monetary Transmission in the Euro Area: Does the Interest Rate
Channel Explain it All??
http://papers.nber.org/papers/W9984

?Inflation Targeting in the United States??
http://papers.nber.org/papers/W9981

?Monetary Policy in an Uncertain Environment?
http://papers.nber.org/papers/W9968 

?Is the Fiscal Theory of the Price Level Learnable??
http://papers.nber.org/papers/W9961

?The Unique Minimum State Variable RE Solution is E-Stable in All Well
Formulated Linear Models?
http://papers.nber.org/papers/W9960

?Monetary Discretion, Pricing Complementarity and Dynamic Multiple Equilibria?
http://papers.nber.org/papers/W9929

?Bank Concentration and Crises?
http://papers.nber.org/papers/W9921

?Optimal Monetary and Fiscal Policy: A Linear Quadratic Approach?
http://papers.nber.org/papers/W9905

?Imperfect Knowledge, Inflation Expectations, and Monetary Policy?
http://papers.nber.org/papers/W9884

?A New Measure of Monetary Shocks: Derivation and Implications?
http://papers.nber.org/papers/W9866


---------------------------------------
CURRENCIES:

?Monetary Policy and the Volatility of Real Exchange Rates in New Zealand?
http://papers.nber.org/papers/W10280 

?The Mirage of Exchange Rate Regimes for Emerging Market Countries?
http://papers.nber.org/papers/W9808 

?Dollarization in the Former Soviet Union?
http://66.102.7.104/search?q=cache:C8GOGIQwxBkJ:www.lu.lv/cets/lv/notikumi/dolarization.doc+%22financial+markets%22+monetary+policy&hl=en&ie=UTF-8

?Policy pre-commitment and institutional design: A synthetic indicator applied 
to Currency Boards?
http://www.olis.oecd.org/olis/2002doc.nsf/linkto/eco-wkp(2002)16

?Adjustment Under Fixed Exchange Rates?
http://www.oecd.org/dataoecd/50/1/1871733.pdf 

?Fear of Floating Needn't Imply Fixed Rates: Feasible Options for
Intermediate Exchange Rate Regimes?
http://econpapers.hhs.se/paper/clmclmeco/2002-18.htm 

?Do Central Banks Systematically Lose Money in Currency Markets??
http://www.business.com/bdcframe.asp?ticker=&src=http%3A//rd.business.com/index.asp%3Fbdcz%3Di.l.l.ml.e%26bdcr%3D11%26bdcu%3Dhttp%253A//www.bridgewaterassociates.com/pdf/CentralBank.pdf%26bdcs%3DC1D0F190-D74D-4A89-A0EE-40E1139901FA%26bdcf%3Da92b079f-8dba-11d4-8f89-00d0b74736e1%26bdcp%3D%26partner%3Dbdc%26title%3DDo%2520Central%2520Banks%2520Systematically%2520Lose%2520Money%2520in%2520Currency%252
0Markets%253F&back=http%3A//www.business.com/directory/financial_services/investment_banking_and_brokerage/sales_and_trading/reference/working_papers/&path=/directory/financial_services/investment_banking_and_brokerage/sales_and_trading/reference/working_papers

?The implementation of monetary policy in industrial countries: a survey?
http://www.bis.org/publ/econ47.htm

?Financial Liberalisation, Asset Prices and Exchange Rates?
http://www.oecd.org/dataoecd/17/41/2003811.pdf 

?Anticipations of monetary policy in financial markets?
http://ideas.repec.org/p/fip/fedgfe/2001-24.html 

?The Euro and the European Policy Mix?
http://www.oecd.org/dataoecd/14/12/1884593.pdf 

?Early warning systems for currency crises?
http://www.bis.org/publ/confer08m.pdf 

?Classifying Exchange Rate Regimes?
http://econ.claremontmckenna.edu/papers/2002-22.pdf 

?Foreign Currency for Long-Term Investors?
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=320920


---------------------------------
EQUITIES:

?Bad Beta, Good Beta?
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=343780 

?Have Individual Stocks Become More Volatile? An Empirical Exploration
of Idiosyncratic Risk?
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=211428

?Equity Volatility and Corporate Bond Yields?
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=301320 

?Who Should Buy Long-Term Bonds??
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=140271 

?By Force of Habit: A Consumption-Based Explanation of Plantation of
Aggregate Stock Market Behavior?
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1870 

?Consumption-Based Asset Pricing?
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=343784 

?Efficient Tests of Stock Return Predictability?
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=343782

?Asset Pricing At The Millennium?
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=236584

?Stock Market Mean Reversion And The Optimal Equity Allocation Of A
Long-Lived Investor?
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=237175 

?Investing Retirement Wealth: A Life-Cycle Model?
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=236444 

?Strategic Asset Allocation in a Continuous-Time VAR Model?
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=343783 

?Trading Volume and Serial Correlation in Stock Returns?
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=297335 

?Equity Volatility and Corporate Bond Yields?
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=313662 

?Efficient Tests of Stock Return Predictability?
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=457548 

?From Efficient Market Theory to Behavioral Finance?
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=349660

?One Simple Test of Samuelson's Dictum for the Stock Market Jeeman Jung?
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=348180 

?The Invention of Inflation-Indexed Bonds in Early America?
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=475881 

?The Invention of Inflation-Indexed Bonds in Early America?
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=481460 

?Do Stock Prices Incorporate the Potential Dilution of Employee Stock Options??
http://econ.claremontmckenna.edu/papers/2001-09.pdf

?Equity Stakes and Hold-up Problems?
http://econpapers.hhs.se/paper/clmclmeco/2001-31.htm 

?Banking Relationships and Access to Equity Capital Markets: Evidence
from Japan?s Main Bank System?
http://econpapers.hhs.se/paper/clmclmeco/2003-09.htm 


----------------------------------
MACROECONOMICS:

?Benchmarking the Returns to Venture?
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=483886 

?Wage Determination and Employment Fluctuations?
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=444306

?Corporate Earnings Track the Competitive Benchmark?
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=476107

?The Sensitivity of Consumption to Transitory Income: Estimates from
Panel Data on Households?
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=263387 

?Current Account Deficits in the Euro Area. The End of the Feldstein
Horioka Puzzle??
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=372880

?Contours of Employment Protection Reform?
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=464282

?The Perverse Effects of Partial Labour Market Reform: Fixed-Term
Contracts in France?
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=316901 

?Did the 2001 Tax Rebate Stimulate Spending? Evidence from Taxpayer Surveys?
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=347080

?Are Cyclical Fluctuations in Productivity Due More to Supply Shocks
or Demand Shocks??
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=227392

?Has the Rate of Economic Growth Changed? Evidence and Lessons for Public Policy?
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=473641

?The Political Economy of External Discipline: Constraint Versus
Incentive Effects of Capital Mobility and Exchange Rate Pegs?
http://econpapers.hhs.se/paper/clmclmeco/2001-29.htm 

?The Changing Role of Capital in the U.S. Private Business Sector:
Evidence for a "New Economy"?
http://econpapers.hhs.se/paper/clmclmeco/2002-37.htm 

?Generating Non-Standard Multivariate Distributions with an
Application to Mismeasurement in the CPI?
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=225101 

?Alternative Strategies for Aggregating Prices in the CPI?
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=225759 

?Costly Capital Reallocation and the Effects of Government Spending?
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=226040 


Search terms used:
"financial markets" currencies monetary policy economics papers 

I hope these links would help you in your research. Before rating this
answer, please ask for a clarification if you have a question or if
you would need further information.
                 
Thanks for visiting us.                
                 
Regards,                 
Easterangel-ga                 
Google Answers Researcher

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Request for Answer Clarification by eddyed-ga on 13 Feb 2004 00:59 PST

Thank you for your answers. I am delighted with them. Could you also
provide research topics on the following areas, if they are available?

(1) The impact of the Euro
(2) The impact of the dollar / dollarization
(3) The Euro vs the dollar debate

Edna

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Clarification of Answer by easterangel-ga on 13 Feb 2004 01:15 PST

Hi!

Thank you as well! I'm glad that you found my answers were right on
with your original question.

Since these are very different topics from the original query I
suggest that you post them as a new question.

Thank you. :)

---

Request for Answer Clarification by eddyed-ga on 13 Feb 2004 12:37 PST

I do not think that my question is different from the original one. My
original question was to ask for a list of research topics in the
fields of monetary economics. Topics on the Euro and Dollar are part
of currency topics. In order words, please update your topics under
currency to include the Euro and the dollar.

Thank you,
Edna

---

Clarification of Answer by easterangel-ga on 13 Feb 2004 17:14 PST

Hi again!

I have found the following papers for you.

The Impact of the Euro:

"The road to adopting the euro: monetary policy and exchange rate
regimes in EU candidate countries"
http://66.102.7.104/search?q=cache:WdOPxxbmV0QJ:ideas.repec.org/p/fip/fedgif/741.html+euro+monetary+economics+papers&hl=en&ie=UTF-8

"Will the Euro Bring Economic Crisis to Europe?"
http://ideas.repec.org/p/wpa/wuwpma/0103003.html

"FINANCIAL MARKET INTEGRATION IN THE EURO AREA ECONOMICS DEPARTMENT
WORKING PAPER NO"
http://www.olis.oecd.org/olis/2003doc.nsf/linkto/eco-wkp(2003)22

"TAX INCENTIVES AND HOUSE PRICE VOLATILITY IN THE EURO AREA: THEORY AND
EVIDENCE"
http://appli1.oecd.org/olis/2003doc.nsf/linkto/eco-wkp(2003)10/$FILE/JT00145167.PDF

"OVERHEATING IN SMALL EURO AREA ECONOMIES: SHOULD FISCAL POLICY REACT?"
http://appli1.oecd.org/olis/2002doc.nsf/linkto/eco-wkp(2002)9/$FILE/JT00121236.pdf 

-----------------
Dollarization:

"Dollarization and Economic Performance: An Empirical Investigation"
http://papers.nber.org/papers/W8274

"The Choice of Exchange Rate Regime and Monetary Target in Highly
Dollarized Economy"
http://www.imf.org/EXTERNAL/PUBS/CAT/longres.cfm?sk&sk=3461.0

"CAPITAL MARKETS AND THE EXCHANGE RATE
With Special Reference to the Dollarization Debate in Latin America"
http://www.bsos.umd.edu/econ/ciecrp9.pdf

?Capital Flow Reversals, the Exchange Rate Debate, and Dollarization?
http://www.bsos.umd.edu/econ/ciecpp7.pdf

?Dollarization and Trade?
http://ideas.repec.org/p/nbr/nberwo/8879.html 


-----------------
Euro vs Dollar:

"Business Cycles under Monetary Union: A Comparison of the EU and US"
http://ideas.repec.org/a/bla/econom/v67y2000i267p347-74.html

?Euro vs. Dollar?
http://faculty.london.edu/rportes/research/PortesReyEP.pdf

?Productivity and the Euro-Dollar Exchange Rate Puzzle?
http://ideas.repec.org/p/nbr/nberwo/8824.html

?The Euro/Dollar Dynamics, Trading Order Flows and Feedback Effects?
http://www.cepii.fr/anglaisgraph/research/smfi/smfi6-3.htm

?EFFICIENCY AND NEWS IN EXCHANGE RATE MARKET: THE
EURO/DOLLAR CASE?
http://www.brunel.ac.uk/depts/ecf/research/papers/01-06.pdf

Thanks again! :)

Best Regards,
Easterangel-ga

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Clarification of Answer by easterangel-ga on 13 Feb 2004 17:16 PST

It seems that the first link may not work. Try this one instead.

"The road to adopting the euro: monetary policy and exchange rate
regimes in EU candidate countries"
http://216.239.53.104/search?q=cache:WdOPxxbmV0QJ:ideas.repec.org/p/fip/fedgif/741.html+%22The+road+to+adopting+the+euro:+monetary+policy+and+exchange+rate+regimes+in+EU+candidate+countries%22&hl=en&ie=UTF-8

Sorry about that.

Thanks!

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Clarification of Answer by easterangel-ga on 13 Feb 2004 17:17 PST

If the link is still not clickable in the first paper,  just copy and
paste it on the address bar. :)

I think this is a very good service that is run by google. It saves
people lots of time searching. I suggest that in the future, google
should admit academic institutions and other services into this
service in order to make it more appealing to the academician.