Journal of Monetary Economics

1975 - 2025

Continuation of Carnegie-Rochester Conference Series on Public Policy.

Current editor(s): R. G. King and C. I. Plosser

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Volume 101, issue C, 2019

The systematic component of monetary policy in SVARs: An agnostic identification procedure pp. 1-13

Jonas E. Arias, Dario Caldara and Juan F Rubio-Ramirez

Interest on reserves, interbank lending, and monetary policy pp. 14-30

Stephen Williamson

Financial regimes and uncertainty shocks pp. 31-46

Piergiorgio Alessandri and Haroon Mumtaz

Growth, slowdowns, and recoveries pp. 47-63

Francesco Bianchi, Howard Kung and Gonzalo Morales

Macroeconomic policy games pp. 64-81

Martin Bodenstein, Luca Guerrieri and Joe LaBriola

Time-varying business volatility and the price setting of firms pp. 82-99

Ruediger Bachmann, Benjamin Born, Steffen Elstner and Christian Grimme

Risky lending, bank leverage and unconventional monetary policy pp. 100-127

Francesco Ferrante

Fixed adjustment costs and aggregate fluctuations pp. 128-147

Michael Elsby and Ryan Michaels

Volume 100, issue C, 2018

What are uncertainty shocks? pp. 1-15

Nicholas Kozeniauskas, Anna Orlik and Laura Veldkamp

Anomalies and market (dis)integration pp. 16-34

Jaewon Choi and Yongjun Kim

Lack of preparation for rare events pp. 35-47

Bartosz Maćkowiak and Mirko Wiederholt

Inference in structural vector autoregressions when the identifying assumptions are not fully believed: Re-evaluating the role of monetary policy in economic fluctuations pp. 48-65

Christiane Baumeister and James D. Hamilton

Is increased price flexibility stabilizing? Redux pp. 66-82

Saroj Bhattarai, Gauti Eggertsson and Raphael Schoenle

Globalization and the increasing correlation between capital inflows and outflows pp. 83-100

Jonathan Davis and Eric Van Wincoop

Confidence banking and strategic default pp. 101-113

Guillermo Ordonez

The optimal inflation rate under Schumpeterian growth pp. 114-125

Koki Oikawa and Kozo Ueda

Volume 99, issue C, 2018

Declining labor turnover and turbulence pp. 1-19

Shigeru Fujita

Exit strategies for monetary policy pp. 20-40

Aleksander Berentsen, Sébastien Kraenzlin and Benjamin Müller

Functional Approximation of Impulse Responses pp. 41-55

Régis Barnichon and Christian Matthes

On the welfare and cyclical implications of moderate trend inflation pp. 56-71

Guido Ascari, Louis Phaneuf and Eric R. Sims

Changes in monetary regimes and the identification of monetary policy shocks: Narrative evidence from Canada pp. 72-87

Julien Champagne and Rodrigo Sekkel

Sovereign defaults and banking crises pp. 88-105

César Sosa-Padilla

Fluctuating attention and financial contagion pp. 106-123

Michael Hasler and Chayawat Ornthanalai

The transmission of monetary policy through redistributions and durable purchases pp. 124-137

Vincent Sterk and Silvana Tenreyro

Volume 98, issue C, 2018

Equilibrium selection, observability and backward-stable solutions pp. 1-10

George Evans and Bruce McGough

Downward nominal wage rigidity and state-dependent government spending multipliers pp. 11-26

Wenyi Shen and Shu-Chun Yang

Market thickness and the impact of unemployment on housing market outcomes pp. 27-49

Li Gan, Pengfei Wang and Qinghua Zhang

A simple general equilibrium model of large excess reserves pp. 50-65

Huberto Ennis

Trust in the monetary authority pp. 66-79

Dirk Bursian and Ester Faia

Interest rate risk and bank equity valuations pp. 80-97

William B. English, Skander Van den Heuvel and Egon Zakrajšek

Banks, government Bonds, and Default: What do the data Say? pp. 98-113

Nicola Gennaioli, Alberto Martin and Stefano Rossi

Open market operations pp. 114-128

Guillaume Rocheteau, Randall Wright and Sylvia Xiaolin Xiao

Volume 97, issue C, 2018

Computerizing industries and routinizing jobs: Explaining trends in aggregate productivity pp. 1-21

Sangmin Aum, Sang Yoon (Tim) Lee and Yongseok Shin

Comment on “Computerizing industries and routinizing jobs: Explaining trends in aggregate productivity” by Sangmin Aum, Sang Yoon (Tim) Lee and Yongseok Shin pp. 22-28

Matthias Kehrig

Short-run pain, long-run gain? Recessions and technological transformation pp. 29-44

Alexandr Kopytov, Nikolai Roussanov and Mathieu Taschereau-Dumouchel

Comment on “Short-run pain, long-run gain? Recessions and technological transformation” pp. 45-47

Henry E Siu

New technologies and the labor market pp. 48-67

Enghin Atalay, Phai Phongthiengtham, Sebastian Sotelo and Daniel Tannenbaum

Discussion for JME special issue: APST paper pp. 68-70

Brad Hershbein

Big data in finance and the growth of large firms pp. 71-87

Juliane Begenau, Maryam Farboodi and Laura Veldkamp

Comments on: Big data in finance and the growth of large firms, by Juliane Begenau & Maryam Farboodi & Laura Veldkamp pp. 88-90

Bryan R. Routledge

Structural transformation and the rise of information technology pp. 91-110

Giovanni Gallipoli and Christos Makridis

Comment on “Structural transformation and the rise of information technology” by Gallipoli and Makridis pp. 111-116

Benjamin Pugsley

Should we fear the robot revolution? (The correct answer is yes) pp. 117-148

Andrew Berg, Edward F. Buffie and Luis-Felipe Zanna

Comment on “Should we fear the robot revolution? (The correct answer is yes)” by Andrew Berg, Ed Buffie, and Felipe Zanna pp. 149-152

Douglas Hanley

Volume 96, issue C, 2018

The consumption response to positive and negative income shocks pp. 1-15

Philip Bunn, Jeanne Le Roux, Kate Reinold and Paolo Surico

Benefits of relationship banking: Evidence from consumer credit markets pp. 16-32

Sumit Agarwal, Souphala Chomsisengphet, Chunlin Liu, Changcheng Song and Nicholas S. Souleles

The chinese saving rate: Long-term care risks, family insurance, and demographics pp. 33-52

Ayse Imrohoroglu and Kai Zhao

The term structure of CDS spreads and sovereign credit risk pp. 53-76

Patrick Augustin

Occupational hazards and social disability insurance pp. 77-92

Amanda Michaud and David Wiczer

Technological revolutions and the Three Great Slumps: A medium-run analysis pp. 93-108

Dan Cao and L’Huillier, Jean-Paul

Rational bubbles and public debt policy: A quantitative analysis pp. 109-123

David Domeij and Tore Ellingsen