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 82, issue C, 2016

Surprise and uncertainty indexes: Real-time aggregation of real-activity macro-surprises pp. 1-19

Chiara Scotti

Uncertainty shocks are aggregate demand shocks pp. 20-35

Sylvain Leduc and Zheng Liu

Political economy of debt and growth pp. 36-51

Levon Barseghyan and Marco Battaglini

Risks for the long run: Estimation with time aggregation pp. 52-69

Ravi Bansal, Dana Kiku and Amir Yaron

Asset bubbles, economic growth, and a self-fulfilling financial crisis pp. 70-84

Takuma Kunieda and Akihisa Shibata

Indeterminacy and learning: An analysis of monetary policy in the Great Inflation pp. 85-106

Thomas A. Lubik and Christian Matthes

Signals from the government: Policy disagreement and the transmission of fiscal shocks pp. 107-118

Giovanni Ricco, Giovanni Callegari and Jacopo Cimadomo

When bonds matter: Home bias in goods and assets pp. 119-137

Nicolas Coeurdacier and Pierre-Olivier Gourinchas

Volume 81, issue C, 2016

Income inequality and asset prices under redistributive taxation pp. 1-20

Lubos Pastor and Pietro Veronesi

The intended and unintended consequences of financial-market regulations: A general-equilibrium analysis pp. 25-43

Adrian Buss, Bernard Dumas, Raman Uppal and Grigory Vilkov

Credit market frictions and political failure pp. 48-64

Madhav S. Aney, Maitreesh Ghatak and Massimo Morelli

Bailouts, moral hazard and banks׳ home bias for Sovereign debt pp. 70-85

Gaetano Gaballo and Ariel Zetlin-Jones

Lending on hold: Regulatory uncertainty and bank lending standards pp. 89-101

Stefan Gissler, Jeremy Oldfather and Doriana Ruffino

Phasing out the GSEs pp. 111-132

Vadim Elenev, Tim Landvoigt and Stijn Van Nieuwerburgh

Volume 80, issue C, 2016

Rational inattention, multi-product firms and the neutrality of money pp. 1-16

Ernesto Pasten and Raphael Schoenle

Portfolio choice in retirement: Health risk and the demand for annuities, housing, and risky assets pp. 17-34

Motohiro Yogo

Unions in a frictional labor market pp. 35-50

Per Krusell and Leena Rudanko

Fiscal deficits, financial fragility, and the effectiveness of government policies pp. 51-68

Markus Kirchner and Sweder van Wijnbergen

Heterogeneity and Government revenues: Higher taxes at the top? pp. 69-85

Nezih Guner, Martin Lopez-Daneri and Gustavo Ventura

Land prices and unemployment pp. 86-105

Zheng Liu, Jianjun Miao and Tao Zha

Government intervention in the housing market: Who wins, who loses? pp. 106-123

Max Floetotto, Michael Kirker and Johannes Stroebel

Uncertainty as commitment pp. 124-140

Jaromir Nosal and Guillermo Ordonez

Volume 79, issue C, 2016

Labor market polarization and international macroeconomic dynamics pp. 1-16

Federico Mandelman

Labor market participation, unemployment and monetary policy pp. 17-29

Alessia Campolmi and Stefano Gnocchi

Tax multipliers: Pitfalls in measurement and identification pp. 30-48

Daniel Riera-Crichton, Carlos Vegh and Guillermo Vuletin

What do inventories tell us about news-driven business cycles? pp. 49-66

Nicolas Crouzet and Hyunseung Oh

Long-run growth uncertainty pp. 67-80

Pei Kuang and Kaushik Mitra

What are the macroeconomic effects of asset purchases? pp. 81-93

Martin Weale and Tomasz Wieladek

Housework and fiscal expansions pp. 94-108

Stefano Gnocchi, Daniela Hauser and Evi Pappa

Fiscal sentiment and the weak recovery from the Great Recession: A quantitative exploration pp. 109-125

Finn Kydland and Carlos Zarazaga

Volume 78, issue C, 2016

Unemployment history and frictional wage dispersion pp. 5-22

Victor Ortego-Marti

Retirement, home production and labor supply elasticities pp. 23-34

Richard Rogerson and Johanna Wallenius

Towards a quantitative theory of automatic stabilizers: The role of demographics pp. 35-49

Alexandre Janiak and Paulo Santos Monteiro

Time-dependent or state-dependent wage-setting? Evidence from periods of macroeconomic instability pp. 50-66

Jósef Sigurdsson and Rannveig Sigurdardottir

Labor market frictions and optimal steady-state inflation pp. 67-79

Mikael Carlsson and Andreas Westermark

Does wage rigidity make firms riskier? Evidence from long-horizon return predictability pp. 80-95

Jack Favilukis and Xiaoji Lin

The evolution of comparative advantage: Measurement and welfare implications pp. 96-111

Andrei Levchenko and Jing Zhang

Credit constraints, firms׳ precautionary investment, and the business cycle pp. 112-131

Ander Pérez-Orive

Volume 77, issue C, 2016

The evolution of wealth inequality over half a century: The role of taxes, transfers and technology pp. 1-25

Baris Kaymak and Markus Poschke

Positive and normative judgments implicit in U.S. tax policy, and the costs of unequal growth and recessions pp. 30-47

Benjamin Lockwood and Matthew Weinzierl

Fiscal multipliers in the 21st century pp. 53-69

Pedro Brinca, Hans A. Holter, Per Krusell and Laurence Malafry

On the optimal provision of social insurance: Progressive taxation versus education subsidies in general equilibrium pp. 72-98

Dirk Krueger and Alexander Ludwig

Fertility, social mobility and long run inequality pp. 103-124

Juan Cordoba, Xiying Liu and Marla Ripoll

Wealth inequality, family background, and estate taxation pp. 130-145

Mariacristina De Nardi and Fang Yang

Volume 76, issue S, 2015

Leveraged bubbles pp. S1-S20

Oscar Jorda, Moritz Schularick and Alan Taylor

Long-run bulls and bears pp. S21-S36

Rui Albuquerque, Martin Eichenbaum, Dimitris Papanikolaou and Sergio Rebelo

The international transmission of credit bubbles: Theory and policy pp. S37-S56

Alberto Martin and Jaume Ventura

Asset bubbles, collateral, and policy analysis pp. S57-S70

Jianjun Miao, Pengfei Wang and Jing Zhou

Asset bubbles and bailouts pp. S71-S89

Tomohiro Hirano, Masaru Inaba and Noriyuki Yanagawa

Can a financial transaction tax prevent stock price booms? pp. S90-S109

Klaus Adam, Johannes Beutel, Albert Marcet and Sebastian Merkel

Volume 76, issue C, 2015

Are capital controls countercyclical? pp. 1-14

Andrés Fernández, Alessandro Rebucci and Martín Uribe

The long-run Phillips curve: A structural VAR investigation pp. 15-28

Luca Benati

The reset inflation puzzle and the heterogeneity in price stickiness pp. 29-37

Engin Kara

Inter-industry wage differentials revisited: Wage volatility and the option value of mobility pp. 38-54

Seth Neumuller

A modern history of fiscal prudence and profligacy pp. 55-70

Paolo Mauro, Rafael Romeu, Ariel Binder and Asad Zaman

Pricing in inflationary times: The penny drops pp. 71-86

Ratula Chakraborty, Paul Dobson, Jonathan S. Seaton and Michael Waterson

Asset pricing in production economies with extrapolative expectations pp. 87-106

David Hirshleifer, Jun Li and Jianfeng Yu

Homeownership and the scarcity of rentals pp. 107-123

Jonathan Halket and Matteo Pignatti Morano di Custoza

Monetary policy, bond risk premia, and the economy pp. 124-140

Peter Ireland

Selection and monetary non-neutrality in time-dependent pricing models pp. 141-156

Carlos Carvalho and Felipe Schwartzman

Personal bankruptcy law, debt portfolios, and entrepreneurship pp. 157-172

Jochen Mankart and Giacomo Rodano

Mortgage defaults pp. 173-190

Juan Carlos Hatchondo, Leonardo Martinez and Juan M. Sánchez

Financial crises, unconventional monetary policy exit strategies, and agents׳ expectations pp. 191-207

Andrew Foerster

Equilibrium matching and termination pp. 208-229

Cheng Wang and Youzhi Yang

Inflation and output in New Keynesian models with a transient interest rate peg pp. 230-243

Charles T. Carlstrom, Timothy Fuerst and Matthias Paustian

Endowment structures, industrial dynamics, and economic growth pp. 244-263

Jiandong Ju, Justin Lin and Yong Wang

What inventory behavior tells us about how business cycles have changed pp. 264-283

Pierre-Daniel Sarte, Felipe Schwartzman and Thomas A. Lubik

The ins and outs of mortgage debt during the housing boom and bust pp. 284-298

Neil Bhutta

The risk premium and long-run global imbalances pp. 299-315

YiLi Chien and Kanda Naknoi