Journal of Macroeconomics

1979 - 2025

Current editor(s): Douglas McMillin and Theodore Palivos

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Volume 36, issue C, 2013

Monetary policy and stock price dynamics with limited asset market participation pp. 1-22

Marco Airaudo

Coexistence and welfare cost of inflation pp. 23-32

Manjong Lee

Stock returns and monetary policy: Are there any ties? pp. 33-50

Hafedh Bouakez, Badye Essid and Michel Normandin

Reaction to technology shocks in Markov-switching structural VARs: Identification via heteroskedasticity pp. 51-62

Aleksei Netšunajev

Estimating the elasticity of intertemporal substitution: Is the aggregate financial return free from the weak instrument problem? pp. 63-75

Fábio Gomes and Lourenco Paz

Consumption and stock prices: Evidence from a small international panel pp. 76-88

David G. McMillan

Nominal and real wage rigidities. In theory and in Europe pp. 89-105

Markus Knell

How do currency misalignments’ threshold affect economic growth? pp. 106-120

Cécile Couharde and Audrey Sallenave

Capital adequacy and the bank lending channel: Macroeconomic implications pp. 121-137

Ming-fu Shaw, Juin-jen Chang and Hung-Ju Chen

Indeterminacy, labor and capital income taxes, and non-linear tax schedules pp. 138-149

Yoichi Gokan

Structural breaks and relative price convergence among US cities pp. 150-160

Natalie D. Hegwood and Hiranya Nath

The role of capital market efficiency in long-term growth: A quantitative exploration pp. 161-174

Shu-shiuan Lu

What can we tell about monetary policy synchronization and interdependence over the 2007–2009 global financial crisis? pp. 175-187

Mohamed Arouri, Fredj Jawadi and Duc Khuong Nguyen

The evolution of excess job reallocation in the U.S pp. 188-206

De-Chih Liu

Volume 35, issue C, 2013

Equilibrium stability in open economy models pp. 1-13

Martin Bodenstein

The gains from short-term commitments pp. 14-23

Christian Jensen

Estimating United States Phillips curves with expectations consistent with the statistical process of inflation pp. 24-38

Bill Russell and Rosen Azad Chowdhury

Optimal taxation with heterogeneous firms and informal sector pp. 39-61

Rodrigo Cerda and Diego Saravia

Do Federal Reserve presidents communicate with a regional bias? pp. 62-72

Bernd Hayo and Matthias Neuenkirch

Monetary policy, parameter uncertainty and welfare pp. 73-80

Guido Traficante

Macroeconomic uncertainty, inflation and growth: Regime-dependent effects in the G7 pp. 81-92

Kyriakos Neanidis and Christos S. Savva

Do stock prices contain predictive power for the future economic activity? A Granger causality analysis in the frequency domain pp. 93-103

Christophe Croux and Peter Reusens

Investment composition and productivity with heterogeneous entrepreneurs pp. 104-116

Burak Uras

Growth and welfare effects of monetary policy with endogenous fertility pp. 117-130

Wen-ya Chang, Ying-an Chen and Juin-jen Chang

The interaction effects of financial openness and institutions on international capital flows pp. 131-143

Keisuke Okada

Clustering and polarization in the distribution of output: A multivariate perspective pp. 144-162

Michele Battisti and Christopher Parmeter

Exchange rate pass through, macro fundamentals and regime choice in Latin America pp. 163-171

Amit Ghosh

Fitting survey expectations and uncertainty about trend inflation pp. 172-185

Steffen R. Henzel

Quantile cointegration analysis of the Fisher hypothesis pp. 186-198

Ching-Chuan Tsong and Cheng-Feng Lee

The effect of globalization on capital taxation: What have we learned after 20years of empirical studies? pp. 199-209

Antonis Adam, Pantelis Kammas and Athina Lagou

Volume 34, issue 4, 2012

Taylor rules and the Great Inflation pp. 903-918

Alex Nikolsko-Rzhevskyy and David Papell

Identifying News Shocks from SVARs pp. 919-932

Patrick Fève and Ahmat Jidoud

State-dependent pricing and the non-neutrality of money pp. 933-944

David Demery

The effectiveness of monetary policy in steering money market rates during the financial crisis pp. 945-954

Puriya Abbassi and Tobias Linzert

Income tax progressivity, physical capital, aggregate uncertainty and long-run growth in an OLG economy pp. 955-974

Cruz A. Echevarría

Identifying the Phillips curve through shifts in volatility pp. 975-991

Florian Kajuth

Dynamic efficiency and the two-part golden rule with heterogeneous agents pp. 992-1006

Wolfgang Kuhle

Banking industry volatility and growth pp. 1007-1019

Pei-Chien Lin and Huang, Ho-Chuan (River)

On model ambiguity and money neutrality pp. 1020-1033

Abraham Lioui and Patrice Poncet

Capital flows, exchange rate flexibility, and the real exchange rate pp. 1034-1043

Jean-Louis Combes, Tidiane Kinda and Patrick Plane

The relationship between factor shares and economic development pp. 1044-1062

Brad Sturgill

Dynamic analysis of location choice by multinational firms pp. 1063-1076

Tadashi Morita

Optimal long-run inflation and the New Keynesian model pp. 1077-1094

Dario Pontiggia

Is openness inflationary? Policy commitment and imperfect competition pp. 1095-1110

Richard Evans

Structural cointegrated models of US consumption and wealth pp. 1111-1124

Lance A. Fisher, Hyeon-seung Huh and Glenn Otto

Common trends and common cycles among interest rates of the G7-countries pp. 1125-1140

Nannette Lindenberg and Frank Westermann

A Markov regime switching model of crises and contagion: The case of the Iberian countries in the EMS pp. 1141-1153

José Mário Lopes and Luis Nunes

Does the exchange rate pass-through into prices change when inflation targeting is adopted? The Peruvian case study between 1994 and 2007 pp. 1154-1166

Luís Ricardo Maertens Odria, Paul Castillo and Gabriel Rodríguez

Unemployment, cycle and gender pp. 1167-1175

Amado Peiró, Jorge Belaire-Franch and Maria Teresa Gonzalo

Volume 34, issue 3, 2012

Has the Fed been a failure? pp. 569-596

George Selgin, William Lastrapes and Lawrence White

Could the United States have had a better central bank? An historical counterfactual speculation pp. 597-607

Michael Bordo

Rules versus discretion at the Federal Reserve System: On to the second century pp. 608-615

Benjamin M. Friedman

Central bank accountability and independence: Are they inconsistent? pp. 616-625

Robert L. Hetzel

The Federal Reserve (almost) 100 pp. 626-630

Allan Meltzer

Robust FDI determinants: Bayesian Model Averaging in the presence of selection bias pp. 637-651

Theo Eicher, Lindy Helfman and Alex Lenkoski

A theory of bank versus bond finance and intra-industry reallocation pp. 652-673

Katheryn Russ and Diego Valderrama

Markups and fiscal transmission in a panel of OECD countries pp. 674-686

Falko Juessen and Ludger Linnemann

Capital requirements and business cycles with credit market imperfections pp. 687-705

Pierre-Richard Agénor, Koray Alper and Luiz Awazu Pereira da Silva

The two sector endogenous growth model: An atlas pp. 706-722

Michael Ben-Gad

How relevant are nominal contracting schemes for monetary policy? pp. 723-740

Matthias Paustian and Juergen von Hagen

Monetary policy and bank lending to small firms pp. 741-748

John Kandrac

Intellectual property rights, technical progress and the volatility of economic growth pp. 749-756

Angus Chu, Charles Leung and Edward Tang

Price-level targeting when there is price-level drift pp. 757-768

Christina Gerberding, Rafael Gerke and Felix Hammermann

Price subsidies and the conduct of monetary policy pp. 769-787

Mohamed Ben Aissa and Nooman Rebei

Credit information sharing and banking crises: An empirical investigation pp. 788-800

Berrak Büyükkarabacak and Neven Valev

Employment responses to aggregate and sectoral technology shocks pp. 801-821

Kangwoo Park

The effect of financial crises on potential output: New empirical evidence from OECD countries pp. 822-832

Davide Furceri and Annabelle Mourougane

Asymmetric exchange rate pass-through: Evidence from major countries pp. 833-844

Anne-Laure Delatte and Antonia López-Villavicencio

Changing patterns of fiscal policy multipliers in Germany, the UK and the US pp. 845-873

Jacopo Cimadomo and Agnès Benassy-Quere

How does fiscal policy react to wealth composition and asset prices? pp. 874-890

Luca Agnello, Vitor Castro and Ricardo Sousa

Macroeconomic time consistency and wartime presidential approval pp. 891-902

Gerald T. Fox

Volume 34, issue 2, 2012

Interpreting the evidence for New Keynesian models of inflation dynamics pp. 253-263

Ragnar Nymoen, Anders Rygh Swensen and Eivind Tveter

Fiscal sustainability and demographics – Should we save or work more? pp. 264-280

Torben M. Andersen

The changing macroeconomic response to stock market volatility shocks pp. 281-293

Roel Beetsma and Massimo Giuliodori

The calibration of CES production functions pp. 294-303

Jonathan Temple

An overhaul of Federal Reserve doctrine: Nominal income and the Great Moderation pp. 304-317

Joshua R. Hendrickson

Robust monetary policy in a model with financial distress pp. 318-325

Rafael Gerke, Felix Hammermann and Vivien Lewis

Monetary information and monetary policy decisions: Evidence from the euroarea and the UK pp. 326-341

Thanaset Chevapatrakul, Tae-Hwan Kim and Paul Mizen

Estimating monetary policy reaction functions using quantile regressions pp. 342-361

Maik Wolters

The impact of economic news on expected changes in monetary policy pp. 362-379

John S. Lapp and Douglas Pearce

An empirical investigation of the Taylor curve pp. 380-390

Eric Olson, Walter Enders and Mark Wohar

Inflation targets and endogenous wage markups in a New Keynesian model pp. 391-403

Giovanni Di Bartolomeo, Patrizio Tirelli and Nicola Acocella

Asymmetric response to monetary policy surprises at the long-end of the yield curve pp. 404-418

Selva Demiralp and Kamil Yilmaz

Explaining inflation-gap persistence by a time-varying Taylor rule pp. 419-428

Christian Conrad and Thomas Eife

Credit cycles and corporate investment: Direct tests using survey data on banks’ lending practices pp. 429-440

Jakob Madsen and Sarah Carrington

The taxation of capital returns in overlapping generations models pp. 441-453

Julio Dávila

Equilibrium unemployment-inequality correlation pp. 454-469

Rubens Cysne and David Turchick

Crisis and recovery: Role of the exchange rate regime in emerging market economies pp. 470-488

Charalambos Tsangarides

Credit buildups and the stock market in four East Asian economies pp. 489-503

Jong Hun Kim and Peter Rousseau

Fiscal policy reforms in general equilibrium: The case of Greece pp. 504-522

Dimitris Papageorgiou

The impacts of regime-switching structures and fat-tailed characteristics on the relationship between inflation and inflation uncertainty pp. 523-536

Kuang-Liang Chang

Desperately seeking the positive impact of undervaluation on growth pp. 537-552

Ridha Nouira and Khalid Sekkat

Information contagion within small worlds and changes in kurtosis and volatility in financial prices pp. 553-566

Mark Bowden

Volume 34, issue 1, 2012

Has macro progressed? pp. 2-10

Ray C. Fair

What have central bankers learned from modern macroeconomic theory? pp. 11-22

Peter Howitt

Macro has progressed pp. 23-28

Sharon Kozicki

Economics and reality pp. 29-41

Harald Uhlig

Nonlinearities in growth: From evidence to policy pp. 42-58

Ethan B. Cohen-Cole, Steven Durlauf and Giacomo Rondina

Money, reserves, and the transmission of monetary policy: Does the money multiplier exist? pp. 59-75

Seth Carpenter and Selva Demiralp

The limited usefulness of macroeconomic Bayesian VARs when estimating the probability of a US recession pp. 76-86

Pär Österholm

Banking and the role of money in the business cycle pp. 87-94

Francesco Zanetti

Money and risk in a DSGE framework: A Bayesian application to the Eurozone pp. 95-111

Jonathan Benchimol and Andre Fourcans

Forecasting US recessions with various risk factors and dynamic probit models pp. 112-125

Eric Ng

Monetary policy and stock-price dynamics in a DSGE framework pp. 126-146

Salvatore Nisticò

Monetary policy rules in an OLG model with non-superneutral money pp. 147-166

Leopold von Thadden

Trends and random walks in macroeconomic time series: A reappraisal pp. 167-180

Amelie Charles and Olivier Darné

Factor shares, the price markup, and the elasticity of substitution between capital and labor pp. 181-198

Xavier Raurich, Hector Sala and Valeri Sorolla

Labor market frictions and the international propagation mechanism pp. 199-222

Lise Patureau

VECM estimations of the PPP reversion rate revisited: The conventional role of relative price adjustment restored pp. 223-238

Hyeongwoo Kim

The relationship between trade openness and government size: Does disaggregating government expenditure matter? pp. 239-252

Michael Benarroch and Manish Pandey