Journal of Macroeconomics

1979 - 2025

Current editor(s): Douglas McMillin and Theodore Palivos

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Volume 55, issue C, 2018

The effect of public debt on growth and welfare under the golden rule of public finance pp. 1-11

Mitsuru Ueshina

The core‒periphery pattern of European business cycles: A fuzzy clustering approach pp. 12-27

Markus Ahlborn and Marcus Wortmann

Euro area structural reforms in times of a global crisis pp. 28-45

Sandra Gomes

The impact of ECB monetary policy surprises on the German stock market pp. 46-63

Jürg Fausch and Markus Sigonius

The missing spillover of base expansion into monetary aggregates: Is there a puzzle? pp. 64-76

Ivo Arnold and Beau Soederhuizen

Keeping up with the Zhangs: Relative income and wealth, and household saving behavior pp. 77-95

Noam Gruber

Business cycles, informal economy, and interest rates in emerging countries pp. 96-116

Jaroslav Horvath

Monetary policy shocks, inflation persistence, and long memory pp. 117-127

Yuliya Lovcha and Alejandro Perez-Laborda

What drives economic policy uncertainty in the long and short runs: European and U.S. evidence over several decades pp. 128-145

John Duca and Jason Saving

The effectiveness of central bank forward guidance under inflation and price-level targeting pp. 146-161

Stephen Cole

Comparing budget repair measures for a small open economy with growing debt pp. 162-183

George Kudrna and Chung Tran

Is the labor wedge due to rigid wages? Evidence from the self-employed pp. 184-198

Trevor Gallen

Dynamic analysis of bureaucratic quality and occupational choice pp. 199-214

Kiyoka Akimoto

Financial development and the bank lending channel in developing countries pp. 215-234

Sergio Sanfilippo-Azofra, Begoña Torre-Olmo, María Cantero-Saiz and Carlos López-Gutiérrez

Downpayment, mobility and default: A welfare analysis pp. 235-252

Ayman Mnasri

On the fiscal strategies of escaping poverty-environment traps towards sustainable growth pp. 253-273

Nguyen Thang Dao and Ottmar Edenhofer

Labor force participation, wage rigidities, and inflation pp. 274-292

Francesco Nucci and Marianna Riggi

Growth effects of inequality and redistribution: What are the transmission channels? pp. 293-313

Klaus Gründler and Philipp Scheuermeyer

The decline in the predictive power of the US term spread: A structural interpretation pp. 314-331

Joe Morell

Leave the volatility fund alone: Principles for managing oil wealth pp. 332-352

Samuel Wills

Volume 54, issue PB, 2017

Banking in macroeconomic theory and policy pp. 149-160

Enzo Dia and David VanHoose

Unexpected loan losses and bank capital in an estimated DSGE model of the euro area pp. 161-186

Nikolay Hristov and Oliver Hülsewig

Financial shocks, financial stability, and optimal Taylor rules pp. 187-207

Fabio Verona, Manuel Martins and Ines Drumond

Interest on reserves, settlement, and the effectiveness of monetary policy pp. 208-216

Joshua Hendrickson

Monetary policy and bank lending in a low interest rate environment: Diminishing effectiveness? pp. 217-231

Claudio Borio and Leonardo Gambacorta

Optimal monetary and macroprudential policies: Gains and pitfalls in a model of financial intermediation pp. 232-259

Michael Kiley and Jae Sim

Bank capital, the state contingency of banks’ assets and its role for the transmission of shocks pp. 260-284

Michael Kühl

Macroprudential policy with convertible debt pp. 285-305

Hylton Hollander

Global banking and the conduct of macroprudential policy in a monetary union pp. 306-331

Jean-Christophe Poutineau and Gauthier Vermandel

Countercyclical capital rules for small open economies pp. 332-351

Daragh Clancy and Rossana Merola

Monetary and macroprudential policy with foreign currency loans pp. 352-372

Michal Brzoza-Brzezina, Marcin Kolasa and Krzysztof Makarski

Does foreign bank presence affect interest rate pass-through in emerging and developing economies? pp. 373-392

Sasidaran Gopalan and Ramkishen Rajan

Financial development and occupational choice pp. 393-409

Enoch Hill and David Perez-Reyna

Local growth and access to credit: Theory and evidence pp. 410-423

Boubacar Diallo and Omar Al-Titi

Volume 54, issue PA, 2017

Guest Editors’ Introduction: Monetary rules for a post-crisis world pp. 1-6

George Selgin and Scott Sumner

Remarks on monetary rules for a post-crisis World pp. 7-11

John Taylor

Economic ideas, the monetary order and the uneasy case for policy rules pp. 12-23

David Laidler

Rules versus discretion in monetary policy historically contemplated pp. 24-41

David Glasner

Circumventing the zero lower bound with monetary policy rules based on money pp. 42-58

Michael Belongia and Peter Ireland

The Yellen rules pp. 59-71

Alex Nikolsko-Rzhevskyy, David Papell and Ruxandra Prodan

A proposal to clarify the objectives and strategy of monetary policy pp. 72-89

Robert L. Hetzel

Monetary policy rules in light of the great recession pp. 90-99

Scott Sumner

Next generation monetary policy pp. 100-109

Miles Kimball

Permanent versus temporary monetary base Injections: Implications for past and future Fed Policy pp. 110-126

David Beckworth

Conventional and unconventional monetary policy rules pp. 127-147

Kevin Sheedy

Volume 53, issue C, 2017

Expectations and forecasting during the Great Depression: Real-time evidence from the business press pp. 1-15

Gabriel Mathy and Herman Stekler

Heterogeneous capital and misintermediation pp. 16-41

Feng Guo and J.H. McCulloch

Global macroeconomic uncertainty pp. 42-56

Tino Berger, Sibylle Grabert and Bernd Kempa

Indeterminate forecast accuracy under indeterminacy pp. 57-70

Luca Fanelli and Marco Sorge

Liberalization of product and labor markets: Efficiency and equity implications pp. 92-106

Panagiota Koliousi, Natasha Miaouli and Apostolis Philippopoulos

A quantitative theory of tax evasion pp. 107-126

Jose Lopez

Variability in the effects of uncertainty shocks: New stylized facts from OECD countries pp. 127-144

Sangyup Choi

Disinflation in steps and the Phillips curve: Israel 1986–2015 pp. 145-161

Rafi Melnick and Till Strohsal

Heterogeneous expectations and the distribution of wealth pp. 162-175

Jan Acedański

Does one size fit all? The impact of cognitive skills on economic growth pp. 176-190

Nadir Altinok and Abdurrahman Aydemir

Endogenous growth cycles with financial intermediaries and entrepreneurial innovation pp. 191-206

Miho Sunaga

Short-run and long-run effects of capital taxation on innovation and economic growth pp. 207-221

Ping-Ho Chen, Angus Chu, Hsun Chu and Ching-chong Lai

The cyclicality of fiscal policy: New evidence from unobserved components approach pp. 222-234

Omar Bashar, Prasad Bhattacharya and Mark Wohar

Panel cointegration estimates of the user cost elasticity pp. 235-250

Huntley Schaller and Marcel Voia