Journal of Economic Dynamics and Control

1979 - 2025

Current editor(s): J. Bullard, C. Chiarella, H. Dawid, C. H. Hommes, P. Klein and C. Otrok

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Volume 132, issue C, 2021

The public debt multiplier

Alice Albonico, Guido Ascari and Alessandro Gobbi

Macroeconomic stabilisation and monetary policy effectiveness in a low-interest-rate environment

Günter Coenen, Carlos Montes-Galdón and Sebastian Schmidt

Liquidity traps in a world economy

Robert Kollmann

Should the ECB adjust its strategy in the face of a lower r★?

Philippe Andrade, Jordi Galí, Hervé Le Bihan and Julien Matheron

Banks, money, and the zero lower bound on deposit rates

Michael Kumhof and Xuan Wang

Demographics and the natural real interest Rate: historical and projected paths for the euro area

Andrea Papetti

Optimal fiscal policy with low interest rates for government debt

Philipp Pfeiffer, Werner Roeger and Lukas Vogel

Monetary policy strategies for the European Central Bank

Christopher Erceg, Zoltán Jakab and Jesper Lindé

Volume 131, issue C, 2021

De-risking of green investments through a green bond market – Empirics and a dynamic model

Joao Paulo Braga, Willi Semmler and Dieter Grass

Does performance-sensitive debt mitigate debt overhang?

Alain Bensoussan, Benoît Chevalier-Roignant and Alejandro Rivera

Global ownership patterns

Asier Mariscal

Monetary transmission in money markets: The not-so-elusive missing piece of the puzzle

Zhengyang Chen and Victor (Vic) Valcarcel

Technological and non-technological drivers of productivity dynamics in developed and emerging market economies

Alistair Dieppe, Neville Francis and Gene Kindberg-Hanlon

Identification of information networks in stock markets

Margarita Baltakienė, Juho Kanniainen and Kęstutis Baltakys

A rational inattention unemployment trap

Martin Ellison and Alistair Macaulay

Option-implied skewness: Insights from ITM-options

Hannes Mohrschladt and Judith C. Schneider

The channels of banks’ response to negative interest rates

Whelsy Boungou and Paul Hubert

Advertising patterns in a dynamic oligopolistic growing market with decay

Rabah Amir, Dominika Machowska and Michael Troege

Optimal attention and heterogeneous precautionary saving behavior

Penghui Yin

Multi-agent-based VaR forecasting

Tobias Tubbenhauer, Christian Fieberg and Thorsten Poddig

Volume 130, issue C, 2021

The price adjustment hazard function: Evidence from high inflation periods

Shaowen Luo and Daniel Villar

Quasi-analytical solution of an investment problem with decreasing investment cost due to technological innovations

Cláudia Nunes, Carlos Oliveira and Rita Pimentel

Monetary Policy and Asset Price Bubbles: A Laboratory Experiment

Jordi Galí, Giovanni Giusti and Charles Noussair

Flight to housing in China

Feng Dong, Jianfeng Liu, Zhiwei Xu and Bo Zhao

Contracts, firm dynamics, and aggregate productivity

Bernabe Lopez-Martin and David Perez-Reyna

Media connection and return comovement

Zilin Chen, Li Guo and Jun Tu

Long-term inflation expectations and the transmission of monetary policy shocks: Evidence from a SVAR analysis

Max Diegel and Dieter Nautz

The productivity growth slowdown and Kaldor’s growth facts

Georg Duernecker, Berthold Herrendorf and Ákos Valentinyi

Information and inequality in the time of a pandemic

Allan Dizioli and Roberto Pinheiro

Volume 129, issue C, 2021

The electoral origin of government spending shocks

Raphaelle G. Coulombe

From ants to fishing vessels: a simple model for herding and exploitation of finite resources

José Moran, Antoine Fosset, Alan Kirman and Michael Benzaquen

Health, wealth, and informality over the life cycle

Julien Albertini, Xavier Fairise and Anthony Terriau

The dynamics of preemptive and follower investments with overlapping ownership

Dimitrios Zormpas and Richard Ruble

Optimal capital structure, ambiguity aversion, and leverage puzzles

Sami Attaoui, Wenbin Cao, Xiaoman Duan and Hening Liu

Evaluating the forecasting power of an open-economy DSGE model when estimated in a data-Rich environment

Sacha Gelfer

Aggregating heterogeneous-agent models with permanent income shocks

Karl Harmenberg

Spatial dynamic game models for coevolution of intertemporal economic decision-making and spatial networks

Hanbat Jeong and Lung-fei Lee

Higher taxes at the top? The role of tax avoidance

Carlos Uribe-Teran

The horseshoe prior for time-varying parameter VARs and Monetary Policy

Jan Prüser

Volume 128, issue C, 2021

Testing for international business cycles: A multilevel factor model with stochastic factor selection

Tino Berger, Gerdie Everaert and Lorenzo Pozzi

Inflation and demography through time

John Juselius and Elod Takats

A simple microstructure model based on the Cox-BESQ process with application to optimal execution policy

José Da Fonseca and Yannick Malevergne

Projection-based inference with particle swarm optimization

Lynda Khalaf and Zhenjiang Lin

A dynamic econometric analysis of the dollar-pound exchange rate in an era of structural breaks and policy regime shifts

Jennifer Castle and Takamitsu Kurita

The equivalent constant-elasticity-of-variance (CEV) volatility of the stochastic-alpha-beta-rho (SABR) model

Jaehyuk Choi and Lixin Wu

The welfare cost of inflation

Apostolos Serletis and Libo Xu

CTMC integral equation method for American options under stochastic local volatility models

Jingtang Ma, Wensheng Yang and Zhenyu Cui

Volume 127, issue C, 2021

Versatile forward guidance: escaping or switching?

Hans Gersbach, Yulin Liu and Martin Tischhauser

Speculative bubbles in present-value models: A Bayesian Markov-switching state space approach

Joshua Chan and Caterina Santi

Impulse response analysis in conditional quantile models with an application to monetary policy

Dong Jin Lee, Tae-Hwan Kim and Paul Mizen

Stock prices and the risk-free rate: An internal rationality approach

Tongbin Zhang

Search Frictions and Evolving Labour Market Dynamics

Michael Ellington, Christopher Martin and Bingsong Wang

Pricing discretely monitored barrier options: When Malliavin calculus expansions meet Hilbert transforms

Ning Cai, Chenxu Li and Chao Shi

Hartz IV and the decline of German unemployment: A macroeconomic evaluation

Brigitte Hochmuth, Britta Kohlbrecher, Christian Merkl and Hermann Gartner

Determinacy and classification of Markov-switching rational expectations models

Seonghoon Cho

Social Motives and Risk-Taking in Investment Decisions

Florian Lindner, Michael Kirchler, Stephanie Rosenkranz and Utz Weitzel

Demographic transition, human capital and economic growth in China

Neha Bairoliya and Ray Miller

Qualitative versus quantitative external information for proxy vector autoregressive analysis

Lukas Boer and Helmut Lütkepohl

News and narratives in financial systems: Exploiting big data for systemic risk assessment

Rickard Nyman, Sujit Kapadia and David Tuckett

The impact of a reference point determined by social comparison on wealth growth and inequality

Youcheng Lou, Moris S. Strub, Duan Li and Shouyang Wang

Bargaining shocks and aggregate fluctuations

Thorsten Drautzburg, Jesus Fernandez-Villaverde and Pablo Guerron

The Jacobian of the exponential function

Jan R. Magnus, Henk G.J. Pijls and Enrique Sentana

On fiscal and monetary policy-induced macroeconomic volatility dynamics

Xiaochun Liu

Valuing Switching options with the moving-boundary method

Shaunak S. Dabadghao, Arun Chockalingam, Taimaz Soltani and Jan Fransoo

Network tail risk estimation in the European banking system

Gabriele Torri, Rosella Giacometti and Tomáš Tichý