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

From Elsevier
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Volume 145, issue S, 2024

Indirect consumer inflation expectations: Theory and evidence

Ina Hajdini, Edward Knotek, John Leer, Mathieu Pedemonte, Robert Rich and Raphael Schoenle

The inflation expectations of U.S. firms: Evidence from a new survey

Bernardo Candia, Olivier Coibion and Yuriy Gorodnichenko

Inflation at risk

David López-Salido and Francesca Loria

Abrupt monetary policy change and unanchoring of inflation expectations

Marco Bonomo, Carlos Carvalho, Stefano Eusepi, Marina Perrupato, Daniel Abib, Joao Ayres and Silvia Matos

The unemployment–inflation trade-off revisited: The Phillips curve in COVID times

Richard Crump, Stefano Eusepi, Marc Giannoni and Aysegul Sahin

Consumer inflation expectations: Daily dynamics

Carola Binder, Jeffrey Campbell and Jane Ryngaert

Volume 145, issue C, 2024

How do people view wage and price inflation?

Monica Jain, Olena Kostyshyna and Xu Zhang

Wage and earnings inequality between and within occupations: The role of labor supply

Andres Erosa, Luisa Fuster, Gueorgui Kambourov and Richard Rogerson

Central bank digital currency: When price and bank stability collide

Linda Schilling, Jesus Fernandez-Villaverde and Harald Uhlig

Revisiting the monetary transmission mechanism through an industry-level differential approach

Sangyup Choi, Tim Willems and Seung Yong Yoo

Destabilizing search technology

Tristan Potter

Beyond Pangloss: Financial sector origins of inefficient economic booms

Frederic Malherbe and Michael McMahon

The roles of price points and menu costs in price rigidity

Edward Knotek

What moves markets?

Mark Kerssenfischer and Maik Schmeling

Volume 144, issue C, 2024

Monetary policy and the persistent aggregate effects of wealth redistribution

Martin Kuncl and Alexander Ueberfeldt

How to limit the spillover from an inflation surge to inflation expectations?

Lena Dräger, Michael J. Lamla and Damjan Pfajfar

Oil price shocks in real time

Andrea Giovanni Gazzani, Fabrizio Venditti and Giovanni Veronese

Estimating the Fed’s unconventional policy shocks

Marek Jarociński

Global risk and the dollar

Georgios Georgiadis, Gernot Müller and Ben Schumann

Housing cycles and gentrification

Daniel Murphy

Mortgage interest deductions? Not a bad idea after all

Shahar Rotberg and Joseph Steinberg

Parameter learning in production economies

Mykola Babiak and Roman Kozhan

Volume 143, issue C, 2024

The sentimental propagation of lottery winnings: Evidence from the Spanish Christmas lottery

Morteza Ghomi, Isabel Micó-Millán and Evi Pappa

How does the fed affect corporate credit costs? Default risk, creditor segmentation and the post-FOMC drift

Stefan Walz

Asymmetric information and misaligned inflation expectations

Zhao Han

Does risk matter more in recessions than in expansions? Implications for monetary policy

Martin M. Andreasen, Giovanni Caggiano, Efrem Castelnuovo and Giovanni Pellegrino

Rational overoptimism and limited liability

Luca Gemmi

Make-up strategies with finite planning horizons but infinitely forward-looking asset prices

Stéphane Dupraz, Hervé Le Bihan and Julien Matheron

Consumer demand and credit supply as barriers to growth for Black-owned startups

Eugene Tan and Teegawende Zeida

Cyclicality of uncertainty and disagreement

Osnat Zohar

Volume 142, issue C, 2024

Why do rational investors like variance at the peak of a crisis? A learning-based explanation

Mohammad Ghaderi, Mete Kilic and Sang Byung Seo

Marginal tax rates and income in the long run: Evidence from a structural estimation

Patrick Macnamara, Myroslav Pidkuyko and Raffaele Rossi

More than words: Fed Chairs’ communication during congressional testimonies

Michelle Alexopoulos, Xinfen Han, Oleksiy Kryvtsov and Xu Zhang

The chronology of Brexit and UK monetary policy

Martin Geiger and Jochen Güntner

Haste makes waste? Quantity-based subsidies under heterogeneous innovations

Linyi Cao, Helu Jiang, Guangwei Li and Lijun Zhu

Optimal monetary policy with r∗<0

Roberto Billi, Jordi Galí and Anton Nakov

Credit constraints and firms’ decisions: Lessons from the COVID-19 outbreak

Pierluigi Balduzzi, Emanuele Brancati, Marco Brianti and Fabio Schiantarelli

The emergence of procyclical fertility: The role of breadwinner women

Sena Coskun and Husnu Dalgic

Volume 141, issue C, 2024

Critique and consequence pp. 2-13

Thomas Sargent

Fencing off Silicon Valley: Cross-border venture capital and technology spillovers pp. 14-39

Ufuk Akcigit, Sina T. Ates, Josh Lerner, Richard R. Townsend and Yulia Zhestkova

Fencing off silicon valley: Cross-border venture capital and technology spillovers pp. 40-41

Samuel Kortum

Trade wars and industrial policy competitions: Understanding the US-China economic conflicts pp. 42-58

Jiandong Ju, Hong Ma, Zi Wang and Xiaodong Zhu

Comment on trade wars and industrial policy competitions: understanding the U.S.-China economic conflicts pp. 59-61

Fernando Parro

On wars, sanctions, and sovereign default pp. 62-70

Javier Bianchi and Cesar Sosa-Padilla

Comment on “On Wars, Sanctions, and Sovereign Default” by Javier Bianchi and César Sosa-Padilla pp. 71-73

Gabriel Mihalache

Optimal taxation of multinational enterprises: A Ramsey approach pp. 74-97

Sebastian Dyrda, Guangbin Hong and Joseph Steinberg

Comment on: “Optimal Taxation of Multinational Enterprises: A Ramsey Approach”, by Sebastian Dyrda, Guangbin Hong, and Joseph B. Steinberg pp. 98-100

Ana Maria Santacreu

International tax competition with rising intangible capital and financial globalization pp. 101-120

Vincenzo Quadrini and José-Víctor Ríos-Rull

Comment on: “International tax competition with rising intangible capital and financial globalization” by Vincenzo Quadrini and José-Victor Ríos-Rull pp. 121-126

Fabrizio Perri

The international spillovers of synchronous monetary tightening pp. 127-152

Dario Caldara, Francesco Ferrante, Matteo Iacoviello, Andrea Prestipino and Albert Queralto

Comment on: “The International Spillovers of Synchronous Monetary Tightening” by Dario Caldara, Francesco Ferrante, Matteo Iacoviello, Andrea Prestipino, and Albert Queralto pp. 153-156

Giancarlo Corsetti

Is a fiscal union optimal for a monetary union? pp. 157-177

Rafael Berriel, Eugenia Gonzalez-Aguado, Patrick Kehoe and Elena Pastorino