Journal of Macroeconomics

1979 - 2025

Current editor(s): Douglas McMillin and Theodore Palivos

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Volume 62, issue C, 2019

Natural rates across the Atlantic

Stefano Neri and Andrea Gerali

Dynamic monetary equilibrium with a Non-Observed Economy and Shapley and Shubik’s price mechanism

Labib Shami

The corporate saving glut

Giacomo Saibene

Fiscal buffers, private debt, and recession: The good, the bad and the ugly

Nicoletta Batini, Giovanni Melina and Stefania Villa

Income inequality and banking crises: Testing the level hypothesis directly

Giorgio Bellettini, Flavio Delbono, Peter Karlström and Sergio Pastorello

Growth effects and welfare costs in an innovation-driven growth model of money and banking

Sheng-Zhi Mao, Chien-Yu Huang and Juin-jen Chang

New technologies and diffusion of innovative financial products: Evidence on exchange-traded funds in selected emerging and developed economies

Adam Marszk and Ewa Lechman

Finance and economic growth: Financing structure and non-linear impact

Peter Benczur, Stelios Karagiannis and Virmantas Kvedaras

Dilution effects, population growth and economic growth under human capital accumulation and endogenous technological change

Alberto Bucci, Levent Eraydin and Moritz Müller

Social security with differential mortality

Monisankar Bishnu, Nick L. Guo and Cagri Kumru

Consumers’ approach to the credibility of the inflation forecasts published by central banks: A new methodological solution

Karolina Tura-Gawron

Economic growth in the era of unconventional monetary instruments: A FAVAR approach

Cristiana Fiorelli and Valentina Meliciani

Effects of trade liberalization on growth and welfare through basic and applied researches

Katsufumi Fukuda

Credit market deregulation and economic growth: Further insights using a marginal integration approach

Elena Ketteni and Constantina Kottaridi

Can aid for financial sector buy financial development?

Admasu Maruta

Revisiting the growth effects of fiscal policy: A Bayesian model averaging approach

Kerim Arin, Elias Braunfels and Gernot Doppelhofer

Inattentive agents and inflation forecast error dynamics: A Bayesian DSGE approach

Insu Kim and Young Se Kim

On tail fatness of macroeconomic dynamics

Xiaochun Liu

Has macroeconomic forecasting changed after the Great Recession? Panel-based evidence on forecast accuracy and forecaster behavior from Germany

Jörg Döpke, Ulrich Fritsche and Karsten Müller

How do consumers assess the macroeconomic effects of oil price fluctuations? Evidence from U.S. survey data

Martin Geiger and Johann Scharler

Anatomy of credit-less recoveries

Luisa Corrado and Isolina Rossi

Globalization and jobless recoveries

Andrea Waddle

The Taylor principles

Alex Nikolsko-Rzhevskyy, David Papell and Ruxandra Prodan

Sticky wages, private consumption, and Fiscal multipliers

Bill Dupor, Jingchao Li and Rong Li

Forecasting recessions with time-varying models

Youngjin Hwang

On the corporate tax reform: Coordination and trade-offs

Teegawende Zeida

Productivity gains from reallocation of talent in Brazil and India

Kanat Abdulla

An OLG model of common ownership: Effects on consumption and investments

Oz Shy and Rune Stenbacka

Volume 61, issue C, 2019

Data-driven structural BVAR analysis of unconventional monetary policy pp. -

Päivi Puonti

Political economy behind central bank independence pp. -

Anastasia Burkovskaya

Forecasting with instabilities: An application to DSGE models with financial frictions pp. -

Roberta Cardani, Alessia Paccagnini and Stefania Villa

Productivity growth, capital reallocation and the financial crisis: Evidence from Europe and the US pp. -

Carol Corrado, Jonathan Haskel and Cecilia Jona-Lasinio

Oil prices and the U.S. economy: Evidence from the stock market pp. -

Willem Thorbecke

Animal spirits, fundamental factors and business cycle fluctuations pp. -

Stephane Dees and Srečko Zimic

Jobless recoveries: The interaction between financial and search frictions pp. -

Dennis Wesselbaum

Business cycles, credit cycles, and asymmetric effects of credit fluctuations: Evidence from Italy for the period of 1861–2013 pp. -

Silvana Bartoletto, Bruno Chiarini, Elisabetta Marzano and Paolo Piselli

Monetary policy, de-anchoring of inflation expectations, and the “new normal” pp. -

Lucio Gobbi, Ronny Mazzocchi and Roberto Tamborini

Loss aversion at the aggregate level across countries and its relation to economic fundamentals pp. -

Reto Foellmi, Adrian Jaeggi and Rina Rosenblatt-Wisch

Inequality and the inflation tax pp. -

Carola Binder

Quality, price stickiness, and monetary policy pp. -

Seongeun Kim

The demand for Divisia Money: Theory and evidence pp. -

Michael Belongia and Peter Ireland

An IV framework for combining sign and long-run parametric restrictions in SVARs pp. -

Lance A. Fisher and Hyeon-seung Huh

Financial frictions, capital misallocation and structural change pp. -

Naohisa Hirakata and Takeki Sunakawa

Fiscal policies in the euro area: Revisiting the size of spillovers pp. -

Mario Alloza, Pablo Burriel and Javier Pérez

Government spending policy uncertainty and economic activity: US time series evidence pp. -

Wongi Kim

Volume 60, issue C, 2019

Carbon emissions and business cycles pp. 1-19

Hashmat Khan, Konstantinos Metaxoglou, Christopher R. Knittel and Maya Papineau

Beliefs formation and the puzzle of forward guidance power pp. 20-32

Elton Beqiraj, Giovanni Di Bartolomeo and Marco Di Pietro

The micro-foundations of an open economy money demand: An application to central and eastern European countries pp. 33-45

Claudiu Albulescu, Dominique Pépin and Stephen Miller

Macroeconomics, rationality, and institutions pp. 46-49

Enzo Dia and Giovanni Di Bartolomeo

New dynamics of consumption and output pp. 50-59

Chunji Xuan, Chang-Jin Kim and Dong Heon Kim

Macroeconomic equilibrium and nominal price rigidities under imperfect rationality pp. 60-78

Giuseppe Ciccarone, Francesco Giuli and Enrico Marchetti

Optimism, pessimism, and short-term fluctuations pp. 79-96

C. Di Bella and Francesco Grigoli

Capital taxation with heterogeneous discounting and collateralized borrowing pp. 97-109

Nina Biljanovska and Alexandros P. Vardoulakis

Public investment, public debt, and population aging under the golden rule of public finance pp. 110-122

Akira Kamiguchi and Toshiki Tamai

Resource misallocation and aggregate productivity under progressive taxation pp. 123-137

Jang-Ting Guo, Yutaro Izumi and Yi-Chan Tsai

Housing, liquidity risk, and monetary policy pp. 138-162

Robert R. Reed and Ejindu S. Ume

Uncertainty over production forecasts: An empirical analysis using monthly quantitative survey data pp. 163-179

Masayuki Morikawa

Time-varying government spending multipliers in the UK pp. 180-197

Christian Glocker, Giulia Sestieri and Pascal Towbin

Plotting interest rates: The FOMC's projections and the economy pp. 198-211

Stefan Gerlach and Rebecca Stuart

Non-linear relationship between real commodity price volatility and real effective exchange rate: The case of commodity-exporting countries pp. 212-228

Salem Boubakri, Cyriac Guillaumin and Alexandre Silanine

Fiscal space and government-spending and tax-rate cyclicality patterns: A cross-country comparison, 1960–2016 pp. 229-252

Joshua Aizenman, Yothin Jinjarak, Hien Thi Kim Nguyen and Donghyun Park

On the empirics of reserve requirements and economic growth pp. 253-274

Jesus Crespo Cuaresma, Gregor von Schweinitz and Katharina Wendt

Spending multipliers with distortionary taxes: Does the level of public debt matter? pp. 275-293

Rym Aloui and Aurélien Eyquem

Three dimensions of central bank credibility and inferential expectations: The Euro zone pp. 294-308

Timo Henckel, Gordon D. Menzies, Peter Moffatt and Daniel Zizzo

Human capital misallocation, redistributive policies, and TFP pp. 309-324

Debasis Bandyopadhyay, Ian King and Xueli Tang

Life-cycle portfolios, unemployment and human capital loss pp. 325-340

Fabio Bagliano, Carolina Fugazza and Giovanna Nicodano

Power-law distribution in the external debt-to-fiscal revenue ratios: Empirical evidence and a theoretical model pp. 341-359

Gilles Dufrénot and Anne Paret

Does inflation targeting always matter for the ERPT? A robust approach pp. 360-377

Antonia López-Villavicencio and Marc Pourroy

On economic growth and automatic stabilizers under linearly progressive income taxation pp. 378-395

Shu-Hua Chen

Testing for news and noise in non-stationary time series subject to multiple historical revisions pp. 396-407

Alain Hecq, Jan Jacobs and Michalis P. Stamatogiannis