Journal of Macroeconomics

1979 - 2025

Current editor(s): Douglas McMillin and Theodore Palivos

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Volume 30, issue 4, 2008

Why doesn't Luxembourg send all its capital to India? pp. 1335-1346

Bart Taub and Rui Zhao

Overconfidence and consumption over the life cycle pp. 1347-1369

Frank Caliendo and Kevin Huang

Optimal information acquisition and monetary policy pp. 1370-1389

Thomas Cone

On using relative prices to measure capital-specific technological progress pp. 1390-1406

Milton Marquis and Bharat Trehan

Health and infrastructure in a model of endogenous growth pp. 1407-1422

Pierre-Richard Agénor

Endogenous mortality, human capital and economic growth pp. 1423-1445

Thomas Osang and Jayanta Sarkar

The effect of labor market monopsony on economic growth pp. 1446-1467

Tavis Barr and Udayan Roy

Sustained output growth under uncertainty: A simple model with human capital pp. 1468-1478

Dimitrios Varvarigos

Public consumption composition in a growing economy pp. 1479-1495

Roberto Censolo and Caterina Colombo

Utility and production externalities, equilibrium efficiency and leisure specification pp. 1496-1519

Manuel Gómez

The link between institutions, technical change and macroeconomic volatility pp. 1520-1549

Sam Hak Kan Tang, Nicolaas Groenewold and Charles Leung

Efficiency, depth and growth: Quantitative implications of finance and growth theory pp. 1550-1568

Alex Trew

The productivity paradox and the new economy: The Spanish case pp. 1569-1586

Diego Martínez, Jesús Rodríguez-López and Jose Torres

Human capital aggregation and relative wages across countries pp. 1587-1601

Manish Pandey

Addressing causality in the effect of capital account liberalization on growth pp. 1602-1616

Adam Honig

Asset booms and fat tails in East Asia: Symmetric or asymmetric risks? pp. 1617-1640

Maria Socorro Gochoco-Bautista

The nonlinear dynamic relationship of exchange rates: Parametric and nonparametric causality testing pp. 1641-1650

Stelios Bekiros and Cees Diks

Communication and exchange rate policy pp. 1651-1672

Marcel Fratzscher

Currency interdependence and dollarization pp. 1673-1687

Richard Dutu

Evaluating currency crises: A Bayesian Markov switching approach pp. 1688-1711

Kostas Mouratidis

Fixed exchange rate credibility with heterogeneous expectations pp. 1712-1722

John Carlson and Neven Valev

Scarce collateral and bank reserves pp. 1723-1737

Miquel Faig and Gregory Gagnon

Monetary policy and the transmission of oil shocks pp. 1738-1755

Lance Bachmeier

The effect of monetary policy on output in EMU3: A sign restriction approach pp. 1756-1791

M. Rafiq and Sushanta Mallick

The long-run Phillips curve and non-stationary inflation pp. 1792-1815

Bill Russell and Anindya Banerjee

Reexamining the permanent income hypothesis with uncertainty in permanent and transitory innovation states pp. 1816-1836

Yu-Lieh Huang, Chao-Hsi Huang and Chung-Ming Kuan

Volume 30, issue 3, 2008

On the observational (non)equivalence of money growth and interest rate rules pp. 801-816

Stéphane Auray and Patrick Fève

Labour markets and firm-specific capital in New Keynesian general equilibrium models pp. 817-843

Charles Nolan and Christoph Thoenissen

Can mortality risk explain the consumption hump? pp. 844-872

James Feigenbaum

Some foundations for multiplicative habits models pp. 873-884

Ryoji Hiraguchi

On asymmetric business cycles and the effectiveness of counter-cyclical fiscal policies pp. 885-905

Nicolas Magud

Empirical comparison of sticky price and sticky information models pp. 906-927

Oleg Korenok

Alternative measures of marginal cost and inflation in estimations of new Keynesian inflation dynamics pp. 928-940

Carl R. Gwin and David VanHoose

"Leaning with the wind"? An open-economy example pp. 941-964

Alfred Guender

Structural change and lag length in VAR models pp. 965-976

Mark Thoma

Monetary policy and the US housing market: A VAR analysis imposing sign restrictions pp. 977-990

Carlos Vargas-Silva

Interdependencies of US manufacturing sectoral TFPs: A spatial VAR approach pp. 991-1004

Klaus Neusser

The economic effects of fiscal policy: The case of Spain pp. 1005-1028

Francisco de Castro Fernández and Pablo Hernández de Cos

Goods market arbitrage and real exchange rate volatility pp. 1029-1042

Inkoo Lee

Exchange rate strategies towards the euro-zone for new EU member states with currency boards pp. 1043-1063

Margarita Katsimi

Monetary policy rules and the exchange rate pp. 1064-1084

Wolfram Berger

Velocity of money, equilibrium (in)determinacy and endogenous growth pp. 1085-1096

Shu-Hua Chen and Jang-Ting Guo

Neoclassical growth and the "trivial" steady state pp. 1097-1103

Hendrik Hakenes and Andreas Irmen

Indeterminacy in a two-sector endogenous growth model with productive government spending pp. 1104-1123

Yunfang Hu, Ryoji Ohdoi and Koji Shimomura

Population growth in a model of economic growth with human capital accumulation and horizontal R&D pp. 1124-1147

Alberto Bucci

Growth leaders pp. 1148-1172

Federico Etro

Per-capita income gaps across US states and Canadian provinces pp. 1173-1187

Syed A. Basher and Nils-Petter Lagerlof

A rise by any other name? Sensitivity of growth regressions to data source pp. 1188-1206

Jan Hanousek, Dana Hájková and Randall Filer

Do bank-based financial systems reduce macroeconomic volatility by smoothing interest rates? pp. 1207-1221

Johann Scharler

Limited enforcement and the organization of production pp. 1222-1245

Erwan Quintin

Structural breaks and consumer credit: Is consumption smoothing finally a reality? pp. 1246-1268

Ryan Brady

Foreign aid, domestic capital accumulation, and foreign borrowing pp. 1269-1284

Xiaoyong Cui and Liutang Gong

Corruption and saving in a panel of countries pp. 1285-1301

Mushfiq us Swaleheen

Stability analysis of the Grossman-Helpman model of endogenous product cycles pp. 1302-1322

Debasis Mondal

On the role of public debt in an OLG model with endogenous labor supply pp. 1323-1328

Miguel-Angel Lopez-Garcia

Do factor shares reflect technology? pp. 1329-1334

Benjamin Bental and Dominique Demougin

Volume 30, issue 2, 2008

Editorial introduction The CES production function in the theory and empirics of economic growth pp. 599-600

Rainer Klump and Chris Papageorgiou

Introduction pp. 601-603

Robert Solow

The role of factor substitution in the theory of economic growth and income distribution: Two examples pp. 604-629

Stephen J Turnovsky

Comment on: "The role of factor substitution in the theory of economic growth and income distribution" pp. 630-632

John Pitchford

The aggregate elasticity of factor substitution with middle products pp. 633-640

Ronald Jones

Comment on "The endogenous aggregate elasticity of substitution for a small open economy" pp. 641-644

Kaz Miyagiwa

Unwrapping some euro area growth puzzles: Factor substitution, productivity and unemployment pp. 645-666

Rainer Klump, Peter McAdam and Alpo Willman

Comment on "Unwrapping some euro area growth puzzles: Factor substitution, productivity and unemployment" pp. 667-670

Chris Papageorgiou

[sigma]: The long and short of it pp. 671-686

Bob Chirinko

Comment on "[sigma]: The long and short of it" pp. 687-690

Theodore Palivos

Openness to trade as a determinant of the macroeconomic elasticity of substitution pp. 691-702

Marianne Saam

Comment on "On the openness to trade as a determinant of the macroeconomic elasticity of substitution" pp. 703-706

Andreas Irmen

Looking back, looking ahead: Biased technological change, substitution and the wage gap pp. 707-713

Theo van de Klundert

Comment on "Looking back, looking ahead: Biased technological change, substitution and the wage gap" pp. 714-717

Thomas Steger

Shifts and twists in the relative productivity of skilled labor pp. 718-735

Arnaud Dupuy and Philip Marey

Comment on "Shifts and twists in the relative productivity of skilled labor" pp. 736-738

Leo Kaas

Long-run relationships between labor and capital: Indirect evidence on the elasticity of substitution pp. 739-756

John Juselius

Comment on "Long-run relationships between labor and capital: Indirect evidence on the elasticity of substitution" pp. 757-759

Uwe Hassler

That elusive elasticity and the ubiquitous bias: Is panel data a panacea? pp. 760-779

James Smith

Comment on "That elusive elasticity and the ubiquitous bias: Is panel data a panacea?" pp. 780-782

Jürgen Antony

C.E.S. production functions in the light of the Cambridge critique pp. 783-797

Bertram Schefold

Comment on "C.E.S. production functions in the light of the Cambridge critique" pp. 798-800

Giancarlo Gandolfo

Volume 30, issue 1, 2008

Why are ethnically divided countries poor? pp. 1-18

Benjamin Bridgman

Risky human capital investment, income distribution, and macroeconomic dynamics pp. 19-42

Volker Grossmann

An explicit inflation target as a commitment device pp. 43-68

Jan Libich

The credit channel of monetary policy: Evidence from the housing market pp. 69-96

Matteo Iacoviello and Raoul Minetti

On indeterminacy in one-sector models of the business cycle with factor-generated externalities pp. 97-110

Qinglai Meng and Chong Yip

The welfare consequences of irrational exuberance: Stock market booms, research investment, and productivity pp. 111-133

Michal Jerzmanowski and Malhar Nabar

Labor market regimes and the effects of monetary policy pp. 134-156

Nicola Acocella, Giovanni Di Bartolomeo and Douglas Hibbs

International spill-over effects of labour market rigidities pp. 157-178

Morten Spange

The political economy of structural reforms under a deficit restriction pp. 179-198

Marcos Poplawski Ribeiro and Roel Beetsma

Balanced budget rules and macroeconomic stability with non-separable utility pp. 199-215

Ludger Linnemann

Bringing macroeconomics into the lab pp. 216-237

Roberto Ricciuti

US trade and exchange rate volatility: A real sectoral bilateral analysis pp. 238-259

Joseph Byrne, Julia Darby and Ronald MacDonald

Terms of trade and current account fluctuations: The Harberger-Laursen-Metzler effect revisited pp. 260-281

Hafedh Bouakez and Takashi Kano

Institutions, arrangements and preferences for inflation stability: Evidence and lessons from a panel data analysis pp. 282-307

Stefan Krause Montalbert and Fabio Mendez

Inflation targeting or fear of floating in disguise? A broader perspective pp. 308-326

Christopher Ball and Javier Reyes

Disinflations in Latin America and the Caribbean: A free lunch? pp. 327-345

Marc Hofstetter

The mechanics of a monetary union with segmented financial markets pp. 346-368

Nuno Alves

Liquidity shocks and the dollarization of a banking system pp. 369-381

Carlos Machicado Salas

Consumption habits and labor supply pp. 382-395

Liam Graham

The open-loop solution of the Uzawa-Lucas model of endogenous growth with N agents pp. 396-414

Dirk Bethmann

Human capital formation, public debt and economic growth pp. 415-427

Alfred Greiner

In-sample and out-of-sample properties of linear and nonlinear Taylor rules pp. 428-443

Ting Qin and Walter Enders

Bayesian estimation and evaluation of the segmented markets friction in equilibrium monetary models pp. 444-461

John Landon-Lane and Filippo Occhino

Money-based stabilization in a small open economy pp. 462-480

Hyuk-jae Rhee

A life-cycle approach to the intertemporal elasticity of substitution pp. 481-498

Daniel K. Biederman and Cullen Goenner

Child labor participation, human capital accumulation, and economic development pp. 499-512

Salvador Contreras

Endogenous depreciation, mismeasurement of aggregate capital, and the productivity slowdown pp. 513-522

Toshihiko Mukoyama

Differential cash constraints, financial leverage and the demand for money: Evidence from a complete panel of Taiwanese firms pp. 523-542

Jin-Tan Liu, Meng-Wen Tsou and Ping Wang

The impact of financial variables on firms' real decisions: Evidence from Spanish firm-level data pp. 543-561

Ignacio Hernando and Carmen Martínez-Carrascal

Does democracy lower growth volatility? A dynamic panel analysis pp. 562-574

Benhua Yang

The impact of fiscal policy on private consumption and social outcomes in Europe and the CIS pp. 575-598

Fabrizio Carmignani