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Selected EIA Publications on Monetary Policy

​McGraw-Hill

Johnson, Robert R., Gerald R. Jensen, and Luis Garcia-Feijoo, Invest With the Fed, McGraw-Hill, March 2015, ISBN 978-0071834407.

 

Journal of Financial Economics

​Jensen, Gerald R. and Theodore Moorman. “Inter-temporal Variation in the Illiquidity Premium.” Journal of Financial Economics 98, November 2010, 338-358.

Jensen, Gerald R., Jeffrey M. Mercer and Robert R. Johnson.  "Business Conditions, Monetary Policy and Expected Security Returns." Journal of Financial Economics 40, February 1996, 213-237.

 

Financial Analysts Journal

​Garcia-Feijoo, Luis, Lawrence Kochard, Rodney Sullivan, and Peng Wang, “Low-Volatility Cycles: The Influence of Valuation and Momentum on Low-Volatility Portfolios,” Financial Analysts Journal 71, May/June 2015, 47-60.

 

Beyer, Scott B., Gerald R. Jensen, Robert R. Johnson, “Gridlock’s Gone, Now What?” Financial Analysts Journal 62, Sept/Oct 2006, 21-28.  

 

Conover, C. Mitchell, Gerald R. Jensen, Robert R. Johnson and Jeffrey M. Mercer.  "Is Fed Policy Still Relevant for Investors?" Financial Analysts Journal 61, Jan/Feb 2005, 70-79.

Conover, C. Mitchell, Gerald R. Jensen and Robert R. Johnson. "Emerging Markets: When Are They Worth It?" Financial Analysts Journal 58, March/April 2002, 86-95.

Conover, C. Mitchell, Gerald R. Jensen and Robert R. Johnson. “Monetary Conditions and International Investing.” Financial Analysts Journal 55, July/August 1999, 38-48.

Jensen, Gerald R., Robert R. Johnson and Jeffrey M. Mercer.  "New Evidence on Size and Price-to-Book Effects in Stock Returns." Financial Analysts Journal 53, November/December 1997, 34-42.

 

Journal of Banking and Finance

​Garcia-Feijoo, Luis, Gerald R. Jensen and Tyler K. Jensen. “Momentum and Funding Conditions.” Journal of Banking and Finance 88, March 2018, 312-329.

Conover, C. Mitchell, Gerald R. Jensen and Robert R. Johnson.  “Monetary Environments and International Stock Returns.” Journal of Banking and Finance 23, September 1999, 1357-1381.

Jensen, Gerald R. and Robert R. Johnson. "Discount Rate Changes and Security Returns in the U.S., 1962-1991." Journal of Banking and Finance 19, April 1995, 79-96.

Journal of Financial Research 

​Garcia-Feijoo, Luis and Gerald R. Jensen. “The Monetary Environment and Long-Run Stock Reversals.” Journal of Financial Research 37, Spring 2014, 3-26.

Becher, David, Gerald R. Jensen and Jeffrey M. Mercer. “Monetary Policy Indicators as Predictors of Stock Returns.” Journal of Financial Research 31, Winter 2008, 357-379.

Jensen, Gerald R. and Jeffrey M. Mercer. “Monetary Policy and the Cross-Section of Expected Stock Returns.” Journal of Financial Research 25, March 2002, 125-139.

 

Journal of Portfolio Management 

​Beyer, Scott B., Gerald R. Jensen and Robert R. Johnson. The Presidential Term.Journal of Portfolio Management 34, Winter 2008, 135-142.

 

Garcia-Feijoo, Luis, Gerald R. Jensen and Robert R. Johnson. “The Effectiveness of Asset Classes in Hedging Risk.” Journal of Portfolio Management 38, Spring 2012, 40-55.

Beyer, Scott B., Gerald R. Jensen, Robert R. Johnson, “Don’t Worry About the Election – Just Watch the Fed.” The Journal of Portfolio Management 30, Summer 2004, 101-109. 

 

Jensen, Gerald R., Robert R. Johnson and Jeffrey M. Mercer.  "Tactical Asset Allocation and Commodity Futures." Journal of Portfolio Management 28, Summer 2002, 100-111.

Jensen, Gerald R., Robert R. Johnson and Jeffrey M. Mercer.  “The Inconsistency of Small-Firm and Value-Stock Premiums.” Journal of Portfolio Management 24, Winter 1998, 27-36.

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Invest with the Fed

 

Johnson, Robert R., Gerald R. Jensen, and Luis Garcia-Feijoo, Invest With the Fed, McGraw-Hill, March 2015, ISBN 978-0071834407.

The authors of Invest with the Fed take the simple position that correct interpretation of Federal Reserve policy actions leads to better investing decisions. To this end, they present strategies that will help you design a portfolio that takes Fed policy into account.

The result of three decades of research, Invest with the Fed reveals how the nation's bank routinely signals important clues about its future policy--and it explains how you can use these clues to enhance your portfolio performance.

Learn all there is to know about the implications that Fed policy changes have for:

 

  • Value and growth investing 

  • Behavioral and EMT approaches 

  • Alternative assets 

  • Sector rotation 

  • International stocks 

  • Hedge funds 

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The Role of Monetary Policy in Investment Management

 

Jensen, Gerald R., Robert R. Johnson and Jeffrey M. Mercer. "The Role of Monetary Policy in Investment Management." The Research Foundation of the CFA Institute and Blackwell Series in Finance, 2000. 

This book presents substantial evidence that an association exists between monetary conditions and returns to various asset classes. It goes on to show how, over the past four decades, investors had the opportunity to use monetary policy to significantly enhance their portfolio performances.

​Journal of Investing

​Conover, C. Mitchell, Gerald R. Jensen, Robert R. Johnson and Jeffrey M. Mercer. “Is Now the Time to Add Commodities to Your Portfolio?” Journal of Investing19, Fall 2010, 10-19.

Conover, C. Mitchell, Gerald R. Jensen, Robert R. Johnson and Jeffrey M. Mercer. “Can Precious Metals Make Your Portfolio Shine?” Journal of Investing 18, Spring 2009, 75-86.

Conover, C. Mitchell, Gerald R. Jensen, Robert R. Johnson and Jeffrey M. Mercer. “Sector Rotation and Monetary Conditions.” Journal of Investing 17, Spring 2008, 34-46.

Buetow, Gerald W., and Robert R. Johnson. “Mutual Fund Asset Allocation and Federal Reserve Monetary Policy.”  Journal of Investing 10, Summer 2001, pp. 103-111. 

 

Johnson, Robert R. and Gerald R. Jensen.  “Stocks, Bonds, Bills and Monetary Policy.” Journal of Investing 7, Fall 1998, 30-36.

 

Quarterly Review of Economics and Finance​

Jensen, Gerald R. and Jeffrey M. Mercer. "Security Markets and the Information Content of Monetary Policy Turning Points." Quarterly Review of Economics and Finance 46, September 2006, 477-494.

Johnson, Robert R., Gerald Buetow, Gerald R. Jensen and Frank Reilly. "Monetary Policy and Fixed Income Returns." Quarterly Review of Economics and Finance 43, Spring 2003, 133-146.

Financial Review

Jensen, Gerald R. and Jeffrey M. Mercer. "New Evidence on Optimal Asset Allocation." Financial Review 38, August 2003, 435-454.

 

​Journal of Financial Service Professionals

​Johnson, Robert R, Gerald R. Jensen and Luis Garcia-Feijoo. “The Association between Federal Reserve Policy and Sector Returns.” Journal of Financial Service Professionals 70, May 2016, 83-88.

CFA Institute – Research Foundation

​Jensen, Gerald R. and Jeffrey M. Mercer. "Commodities as an Investment." The Research Foundation of the CFA Institute Literature Review, 6, September 2011.

Jensen, Gerald R., Robert R. Johnson and Jeffrey M. Mercer. "The Role of Monetary Policy in Investment Management." The Research Foundation of the CFA Institute and Blackwell Series in Finance, 2000. 

Journal of Alternative Investments

Jensen, Gerald R., Robert R. Johnson and Jeffrey M. Mercer. “Time Variation in the Benefits of Managed Futures.”  Journal of Alternative Investments 5, Spring 2003, 41-50.

Johnson, Robert R., and Gerald R. Jensen. “The Diversification Benefits of Commodities and Real Estate in Alternative Monetary Conditions.”  Journal of Alternative Investments 3, Spring 2001, 53-61.

 

American Association of Individual Investors’ Journal

 

Jensen, Gerald R., Robert R. Johnson and Luis Garcia-Feijoo. “Follow the Fed, But Be Smart About It.” AAII Journal 70, April 2015.

 

Journal of Real Estate Portfolio Management

Johnson, Robert R., and Gerald W. Buetow. “The Real Estate Asset Allocation Decision: Monetary Policy Implications.”  Journal of Real Estate Portfolio Management 7, Fall 2001, 215-224.  

 

Journal of Wealth Management

Johnson, Robert R., Gerald R. Jensen, and Jeffery M. Mercer. “Equity Industry Returns and Monetary Policy.”  Journal of Wealth Management 3, Spring 2001, 61-68.  

 

Johnson, Robert R., Gerald W. Buetow, and Gerald R. Jensen. “Equity Style and Federal Reserve Policy.”  Journal of Wealth Management 2, No. 4, Spring 2000, 33-40.  

 

 

Journal of Economics and Finance

Johnson, Robert R. “Monetary Policy and Real Estate Returns.”  Journal of Economics and Finance 24, Fall 2000, 283-293.

 

Financial Services Review

Johnson, Robert R., Gerald W. Buetow, and Gerald R. Jensen. “International Mutual Fund Returns and Federal Reserve Policy.”  Financial Services Review 8, Fall 1999, 199-210.

 

Managerial Finance

Beyer, Scott, Luis Garcia-Feijoo, Gerald Jensen, and Robert Johnson, “What to Expect when You’re Electing,” Managerial Finance 41, Fall 2015,1032-1045.

 

Journal of Business Finance & Accounting

Jensen, Gerald R., Robert R. Johnson, and W. Scott Bauman. “Federal Reserve Monetary Policy and Industry Stock Returns.” Journal of Business Finance & Accounting 24, June 1997, 629-644.

 

International Review of Economics and Finance

Johnson, Robert R., and Gerald R. Jensen. “The Reaction of Foreign Stock Markets to U.S. Discount Rate Changes.”  International Review of Economics and Finance 2, Spring 1993, 181-93.

 

Quarterly Journal of Business and Economics

Jensen, Gerald R., and Robert R. Johnson. “An Examination of Stock Price Reactions to Discount Rate Changes Under Alternative Monetary Policy Regimes.”  Quarterly Journal of Business and Economics 32, Spring 1993, 26-51.

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