Articles

Forthcoming:

Max Gillman, “Steps in Industrial Development through Human Capital Deepening”, Accepted, Economic Modelling, 2021.

Max Gillman, “Income Tax Evasion: Tax Elasticity, Welfare, and Revenue”, International Tax and Public Finance, 2020.

Revisions for Re-submission

Max Gillman, Emrah Cevik and Sel Dibooglu, 2020, “Nominal Effects on Oil and Gold Prices in Low and High Volatility Markov Switching Regimes”, International Review of Economics and Finance, revise and resubmit.

Max Gillman, Tamas Csabafi, Ceri R. Davies, Michal Kejak, 2020, “Estimation of Interest Rates in Alternative Frequency Windows using Simulated Data”. reject with allowance for resubmit, Journal of Economic Dynamics and Control.

“Explaining Real Business Cycles with Human Capital Investment,” Szilard Benk, Tamas Csabafi, Jing Dang, Max Gillman, Michal Kejak; Journal of Human Capital; reject with invitation to resubmit.

Tamas Csabafi, Ceri Davies, Max Gillman, Michal Kejak, “Nominal Interest Rates and Inflation Rate Inversion: Bank Shocks and the Great Recession”, Revise and resubmit, Contemporary Economic Policy.

Published:

“Granger Predictability of Oil prices after the Great Recession”, 2020, Journal of International Money and Finance; with Szilard Benk; Volume 101, March, Article No. 102100. https://www.sciencedirect.com/science/article/pii/S0261560619301305

Max Gillman, ““The Welfare Cost of Inflation with Banking Time”,” 2020, BE Press Journal of Macroeconomics: Advances; volume 20, Issue 1; DOI: 10.1515/bejm-2018-0059.

Technical Appendix, 2020, to “International Business Cycle and Financial Intermediation”, Journal of Money, Credit and Banking, Vol. 51,
No. 8 (December), pp. 2293-2303. https://ideas.repec.org/p/msl/workng/1017.html (Working Papers 1017, University of Missouri-St. Louis, Department of Economics).

“International Business Cycle and Financial Intermediation”, 2019, Journal of Money, Banking and Credit, Tamas Csabafi, Max Gillman and Ruthira Naraidoo, Volume 51, Issue 8, December, Pages 2293-2303; Published here. Technical Appendix:  jmcb TechAPP feb 24-2020.

“Nominal Interest Rates and Inflation Rate Inversion: Bank Shocks and the Great Recession”, Tamas Csabafi, Ceri Davies, Max Gillman, Michal Kejak; Revise and Resubmit: Western Economic Association.

Christopher Tsoukis, Frédéric Tournemaine and Max Gillman, 2017, “Hyperbolic discounting and growth without commitment: On the resolution of time inconsistency under continuous time”, Manchester School, Volume 85, Issue S2, December, pages e45–e74. Paper Here

Gillman, Max , Michal Kejak, and Michal Pakoš, 2015, “Learning about Rare Disasters: Implications For Consumption and Asset Prices”, Review of Finance, 19 (3, May): 1053-1104. Paper Here

Max Gillman, Michal Kejak, 2014 “Tax Evasion, Human Capital, and Productivity Induced Tax Rate Reduction”, Journal of Human Capital, 8(1, Spring): 42-79. Paper Here

Parantap Basu, Max Gillman, Joseph Pearlman, 2012, “Inflation, Human Capital and Tobin’s q”, Journal of Economic Dynamics and Control; Volume 36, Issue 7, July, Pages 1057–1074. Paper Here

Max Gillman and Michal Kejak, 2011, “Inflation, Investment and Growth: a Banking Approach”, Economica, 78 (310: April) 260–282. Paper Here

Szilard Benk, Max Gillman and Michal Kejak, 2010, “A Banking Explanation of the US Velocity of Money: 1919-2004”, Journal of Economic Dynamics and Control, 34 (4, April): 765–779. Paper Here

Max Gillman and Mark Harris, 2010, “The Effect of Inflation on Growth: Evidence from a Panel of Transition Countries”, Economics of Transition, Volume 18, Issue 4, pages 697-714, October. Paper Here

Helmuts Azacis and Max Gillman, 2010, “Flat Tax Reform: The Baltics 2000-2007”, Journal of Macroeconomics, 32 (2, June) pp. 692-708. Paper Here

Max Gillman, 2010, `Comment on “Price Stability and the Case for Flexible Exchange Rates”‘, Open Economies Review: 21 (February, 1): 17-21.

Max Gillman and Anton Nakov, 2009, “Monetary Effects on Oil and Gold Prices”, North American Journal of Economics and Finance, 20 (December, 3): 239-254. Paper Here

Max Gillman, 2009, “International Deposit Insurance”, Economic Affairs, 29(3, September): 103-104. Paper Here

S Benk, M Gillman, and M Kejak, 2008, “Money Velocity in an Endogenous Growth Business Cycle with Credit Shocks”, Journal of Money, Credit, and Banking, Vol. 40, No. 6 (September 2008):1281-1293. Paper Here

M. Gillman and Glenn Otto, 2007, Money Demand in General Equilibrium Endogenous Growth: Estimating the Role of a Variable Interest Elasticity, Quantitative and Qualitative Analysis in Social Sciences); Volume 1, Issue 1, 2007, 1-25 Paper Here

Dario Cziraky and M. Gillman, 2006, Money Demand in an EU Accession Country: A VECM Study of Croatia, Bulletin of Economic Research, Vol 58, No. 2, pp. 3307–3378. Paper Here

Simon Feeny, Max Gillman and Mark N. Harris, 2006, Econometric Accounting of the Australian Corporate Tax Rates: A Firm Panel Example, Accounting Research Journal,  Vol 19, No. 1, pp. 64-73. Paper Here

Szilard Benk, Max Gillman and Michal Kejak, 2005, “Credit Shocks in the Financial Deregulatory Era: Not the Usual Suspects”, Review of Economic Dynamics, Vol 8, No. 3 (July): 668-687. Paper Here

Gillman, M. and Michal Kejak, 2005, ” Inflation and Balanced-Path Growth with Alternative Payment Mechanisms”, Economic Journal, Vol 115, No. 500 (January): 247-270. Paper Here

Gillman, Max, and Oleg Yerokhin, 2005, “Ramsey-Friedman Optimality with Banking Time”, BEPress Journals in Macroeconomics, Topics in Macroeconomics, Vol. 5, No. 1, Article 16. Paper Here

Gillman, Max, and Michal Kejak, 2005, “Contrasting Models of the Effect of Inflation on Growth”, Journal of Economic Surveys, Vol. 19, No. 1 (February): 113-136. Paper Here

Benk, Szilard, Max Gillman and Michal Kejak, 2005, “A Comparison of Exchange Economies within a Monetary Business Cycle”, The Manchester School, Vol 73, No. 4 (July): 542-562. Paper Here

Gillman, Max, Mark Harris, and Laszlo Matyas, 2004, “Inflation and Growth: Explaining the Negative Effect”, Empirical Economics, Vol 29, No. 1, (January): 149-167. Paper Here

Gillman, Max, and Anton Nakov, 2003, “A Revised Tobin Effect from Inflation: Relative Input Price and Capital Ratio Realignments, US and UK, 1959-1999”, Economica, Vol 70, No. 279 (August): 439-451. Paper Here

Gillman, Max and Anton Nakov, 2004, “Granger Causality of the Inflation-Growth Mirror in Accession Countries”, Economics of Transition, Vol 12, number 4 (December): 653-682. Paper Here

M. Gillman and Anton Nakov, 2003, A Revised Tobin Effect From Inflation: Relative Input Price and Capital Ratio Realignments, US and UK, 1959 – 1999, Economica, Vol. 70, pp. 439–450. Paper Here

Gillman, Max, 2002, “On Keynes’s Theory of the Aggregate Price Level in the Treatise: Any Help for Modern Aggregate Analysis?,” European Journal of the History of Economic Thought, Vol.9, No.3 (September): 430-451. Paper Here

Gillman, Max, 2000, On The Optimality of Restricting Credit: Inflation-Avoidance and Productivity, Japanese Economic Review, Vol. 51, No. 3, September, pp. 375-390. Paper Here

Gillman, Max, 1998, The Optimality of a Zero Inflation Rate with Menu Costs: Australia Australian Economic Review, vol. 31, no. 3, pp. 211–23. Paper Here

Max Gillman and James Hogan, 1998, Extending corporate liability in New Zealand, International Journal of Social Economics, Vol. 26 No. 4, pp. 487-500. Paper Here

Max Gillman, Pierre Siklos and J. Lew Silver, 1997, Money Velocity with Costly Credit, Journal of Economic Research, Vol 2, pp. 179-207.  Paper Here

Gillman, Max, 1995, “A Comparison of Partial and General Equilibrium Estimates of the Welfare Cost of Inflation”, Contemporary Economic Policy, vol 13, No 4 (October): 60-71. Paper Here

Max Gillman and Tim Eade, 1995, The development of the corporation in England, with emphasis on limited liability, International Journal of Social Economics, Vol. 22 No. 4, pp. 20-32. Paper Here

Gillman, Max, 1993, “The Welfare Costs of Inflation in a Cash in Advance Model with Costly Credit”, Journal of Monetary Economics, vol.31, no.1 (February): 97-116.  Paper Here

REPEC LISTING

Articles

  1. Christopher Tsoukis & Frédéric Tournemaine & Max Gillman, 2017. “Hybrid Exponential†Hyperbolic Discounting and Growth Without Commitment,” Manchester School, University of Manchester, vol. 85(S2), pages 45-74, December.
  2. Max Gillman & Michal Kejak & Michal Pakoš, 2015. “Learning about Rare Disasters: Implications For Consumption and Asset Prices,” Review of Finance, European Finance Association, vol. 19(3), pages 1053-1104.
  3. Max Gillman & Michal Kejak, 2014. “Tax Evasion, Human Capital, and Productivity-Induced Tax Rate Reduction,” Journal of Human Capital, University of Chicago Press, vol. 8(1), pages 42-79.
  4. Basu, Parantap & Gillman, Max & Pearlman, Joseph, 2012. “Inflation, human capital and Tobin’s q,” Journal of Economic Dynamics and Control, Elsevier, vol. 36(7), pages 1057-1074.
  5. Max Gillman & Michal Kejak, 2011. “Inflation, Investment and Growth: a Money and Banking Approach,” Economica, London School of Economics and Political Science, vol. 78(310), pages 260-282, April.
  6. Benk, Szilárd & Gillman, Max & Kejak, Michal, 2010. “A banking explanation of the US velocity of money: 1919-2004,” Journal of Economic Dynamics and Control, Elsevier, vol. 34(4), pages 765-779, April.
  7. Azacis, Helmuts & Gillman, Max, 2010. “Flat tax reform: The Baltics 2000-2007,” Journal of Macroeconomics, Elsevier, vol. 32(2), pages 692-708, June.
  8. Max Gillman, 2010. “Comment on “Price Stability and the Case for Flexible Exchange Rates”,” Open Economies Review, Springer, vol. 21(1), pages 17-21, February.
  9. Max Gillman & Mark N. Harris, 2010. “The effect of inflation on growth,” The Economics of Transition, The European Bank for Reconstruction and Development, vol. 18(4), pages 697-714, October.
  10. Gillman, Max & Nakov, Anton, 2009. “Monetary effects on nominal oil prices,” The North American Journal of Economics and Finance, Elsevier, vol. 20(3), pages 239-254, December.
  11. Max Gillman, 2009. “International Deposit Insurance,” Economic Affairs, Wiley Blackwell, vol. 29(3), pages 103-104, September.
  12. Szilárd Benk & Max Gillman & Michal Kejak, 2008. “Money Velocity in an Endogenous Growth Business Cycle with Credit Shocks,” Journal of Money, Credit and Banking, Blackwell Publishing, vol. 40(6), pages 1281-1293, September.
  13. Dario Cziráky & Max Gillman, 2006. “Money Demand in an EU Accession Country: A VECM Study of Croatia,” Bulletin of Economic Research, Wiley Blackwell, vol. 58(2), pages 105-127, April.
  14. Szilárd Benk & Max Gillman & Michal Kejak, 2005. “Credit Shocks in the Financial Deregulatory Era: Not the Usual Suspects,” Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 8(3), pages 668-687, July.
  15. Max Gillman & Michal Kejak, 2005. “Contrasting Models of the Effect of Inflation on Growth,” Journal of Economic Surveys, Wiley Blackwell, vol. 19(1), pages 113-136, February.
  16. Max Gillman & Michal Kejak, 2005. “Inflation and Balanced-Path Growth with Alternative Payment Mechanisms,” Economic Journal, Royal Economic Society, vol. 115(500), pages 247-270, January.
  17. Gillman Max K & Yerokhin Oleg, 2005. “Ramsey-Friedman Optimality with Banking Time,” The B.E. Journal of Macroeconomics, De Gruyter, vol. 5(1), pages 1-24, July.
  18. Szilárd Benk & Max Gillman & Michal Kejak, 2005. “A Comparison Of Exchange Economies Within A Monetary Business Cycle,” Manchester School, University of Manchester, vol. 73(4), pages 542-562, July.
  19. Max Gillman & Anton Nakov, 2004. “Granger causality of the inflation-growth mirror in accession countries,” The Economics of Transition, The European Bank for Reconstruction and Development, vol. 12(4), pages 653-681, December.
  20. Max Gillman & Mark N. Harris & László Mátyás, 2004. “Inflation and growth: Explaining a negative effect,” Empirical Economics, Springer, vol. 29(1), pages 149-167, January.
  21. Max Gillman & Michal Kejak, 2004. “The Demand for Bank Reserves and Other Monetary Aggregates,” Economic Inquiry, Western Economic Association International, vol. 42(3), pages 518-533, July.
  22. Max Gillman, 2002. “Keynes’s Treatise : aggregate price theory for modern analysis?,” The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 9(3), pages 430-451.
  23. Max Gillman, 2000. “On the Optimality of Restricting Credit: Inflation Avoidance and Productivity,” The Japanese Economic Review, Japanese Economic Association, vol. 51(3), pages 375-390, September.
  24. Max Gillman, 1998. “The Optimality of a Zero Inflation Rate with Menu Costs: Australia,” Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 31(3), pages 211-223, September.
  25. Max Gillman, 1995. “Comparing Partial And General Equilibrium Estimates Of The Welfare Cost Of Inflation,” Contemporary Economic Policy, Western Economic Association International, vol. 13(4), pages 60-71, October.
  26. Gillman, Max, 1993. “The welfare cost of inflation in a cash-in-advance economy with costly credit,” Journal of Monetary Economics, Elsevier, vol. 31(1), pages 97-115, February.

Chapters

  1. Max Gillman, 1998. “A Macroeconomic Analysis of Economies inTransition,” Chapters,in: Handbook on the Globalization of the World Economy, chapter 15 Edward Elgar Publishing.

Books

  1. Lucas, Robert E., 2013. “Collected Papers on Monetary Theory,” Economics Books, Harvard University Press, number 9780674066878 edited by Gillman, Max, December.