Journal of Macroeconomics

1979 - 2025

Current editor(s): Douglas McMillin and Theodore Palivos

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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

Volume 59, issue C, 2019

The forward premium puzzle and Markov-switching adaptive learning pp. 1-17

Jason R. Reed

How foreclosure delays impact mortgage defaults and mortgage modifications pp. 18-37

Jiseob Kim

On the cyclicality of R&D activities pp. 38-58

Matthias Mand

Behavioural New Keynesian models pp. 59-77

Robert Calvert Jump and Paul Levine

Debt stabilization games in a monetary union: What are the effects of introducing eurobonds? pp. 78-102

Jacob Engwerda, Bas van Aarle and Tzanis Anevlavis

Cooperation vs. leadership in a core-periphery monetary union: Inter-country vs. inter-institutional policy coordination pp. 103-122

Andrew Hughes Hallett and Christos Mavrodimitrakis

What inflation measure should a currency union target? pp. 123-139

William Barnett, Chan Wang, Xue Wang and Liyuan Wu

Understanding the international elasticity puzzle pp. 140-153

Hakan Yilmazkuday

Banking technology in a Markov switching economy pp. 154-168

Maksim Isakin and Apostolos Serletis

Does higher education expansion enhance productivity? pp. 169-194

Yao Yao

Should central banks lean against the bubble? The monetary policy conundrum under credit frictions and capital accumulation pp. 195-216

Giuseppe Ciccarone, Francesco Giuli and Enrico Marchetti

Unconditional convergence of labor productivity in the service sector pp. 217-229

Bisrat Kinfemichael and Akm Morshed

Household debt, financial intermediation, and monetary policy pp. 230-257

Yahong Zhang

Inflation dynamics and adaptive expectations in an estimated DSGE model pp. 258-277

Paolo Gelain, Nikolay Iskrev, Kevin Lansing and Caterina Mendicino

Bayesian forecast combination in VAR-DSGE models pp. 278-298

Kuo-Hsuan Chin and Xue Li

R&D, growth, and macroprudential policy in an economy undergoing boom-bust cycles pp. 299-324

Claudio Battiati

Forward guidance reassessed: Stabilizability under endogenous policy rules pp. 325-335

Andrew Hughes Hallett and Nicola Acocella