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 51, issue 8, 2004

The impact of monetary policy on asset prices pp. 1553-1575

Roberto Rigobon and Brian Sack

Regime switching and monetary policy measurement pp. 1577-1597

Michael Owyang and Garey Ramey

Price setting, price dispersion, and the value of money: or, the law of two prices pp. 1599-1621

Elisabeth Curtis and Randall Wright

Wage aspirations and unemployment persistence pp. 1623-1643

Vincent Hogan

Precautionary saving and partially observed income pp. 1645-1681

Neng Wang

Unemployment insurance and capital accumulation pp. 1683-1710

Eric Young

Exchange rates and casualties during the first world war pp. 1711-1742

George J. Hall

Are non-fundamental equilibria learnable in models of monetary policy? pp. 1743-1770

Seppo Honkapohja and Kaushik Mitra

Volume 51, issue 7, 2004

Cross-sectional heterogeneity and the persistence of aggregate fluctuations pp. 1321-1352

Claudio Michelacci

Barriers and the transition to modern growth pp. 1353-1383

L. Rachel Ngai

The "price puzzle" reconsidered pp. 1385-1413

Michael S. Hanson

Equity and efficiency effects of redistributive policies pp. 1415-1447

Ananth Seshadri and Kazuhiro Yuki

Unit roots and infrequent large shocks: new international evidence on output pp. 1449-1465

Olivier Darné and Claude Diebolt

In search of the liquidity effect in a modern monetary model pp. 1467-1494

Benjamin Keen

A present value test of habits and the current account pp. 1495-1507

Joseph Gruber

The term structure of real interest rates: theory and evidence from UK index-linked bonds pp. 1509-1549

Juha Seppala

Volume 51, issue 6, 2004

Financial development and the instability of open economies pp. 1077-1106

Philippe Aghion, Philippe Bacchetta and Abhijit Banerjee

Identifying VARS based on high frequency futures data pp. 1107-1131

Jon Faust, Eric T. Swanson and Jonathan Wright

Estimating the Euler equation for output pp. 1133-1153

Jeffrey Fuhrer and Glenn Rudebusch

Monetary policy in emerging markets: Can liability dollarization explain contractionary devaluations? pp. 1155-1181

David Cook

An exploration into Pigou's theory of cycles pp. 1183-1216

Paul Beaudry and Franck Portier

Monetary policy shocks:: Testing identification conditions under time-varying conditional volatility pp. 1217-1243

Michel Normandin and Louis Phaneuf

Optimal monetary policy in an economy with incomplete markets and idiosyncratic risk pp. 1245-1269

Ahmet Akyol

An alternative explanation of the price puzzle pp. 1271-1296

Paolo Giordani

Financial market participation and the apparent instability of money demand pp. 1297-1317

Samuel Reynard

Volume 51, issue 5, 2004

An empirical analysis of the economic impact of federal terrorism reinsurance pp. 861-898

Jeffrey Brown, John Cummins, Christopher M. Lewis and Ran Wei

Comment on: "An empirical analysis of the economic impact of federal terrorism reinsurance" pp. 899-902

Varadarajan Chari

Cities under stress pp. 903-927

Esteban Rossi-Hansberg

Comment on: "Cities under stress" pp. 929-933

Pierre-Daniel G. Sarte

Payment system disruptions and the federal reserve following September 11, 2001 pp. 935-965

Jeffrey Lacker

Comment on: "Payment system disruptions and the federal reserve following September 11, 2001" pp. 967-970

Stephen Williamson

Macroeconomic consequences of terror: theory and the case of Israel pp. 971-1002

Zvi Eckstein and Daniel Tsiddon

Comment on: "Macroeconomic consequences of terror: theory and the case of Israel" pp. 1003-1006

Alex Cukierman

The macroeconomic consequences of terrorism pp. 1007-1032

Stephen Blomberg, Gregory D. Hess and Athanasios Orphanides

Comment on "The macroeconomic consequences of terrorism" pp. 1033-1037

Michelle Garfinkel and Ivan Jeliazkov

The open society assesses its enemies: shocks, disasters and terrorist attacks pp. 1039-1070

Jose Tavares

Comment on: "The open society assesses its enemies: shocks, disasters and terrorist attacks" pp. 1071-1075

Norman Loayza

Volume 51, issue 4, 2004

Dollarization and currency exchange pp. 671-689

Ben Craig and Christopher Waller

Endogenous pricing to market and financing costs pp. 691-712

Joshua Aizenman

Investment and liquidation in renegotiation-proof contracts with moral hazard pp. 713-751

Vincenzo Quadrini

Do the ECB and the fed really need to cooperate? Optimal monetary policy in a two-country world pp. 753-779

Evi Pappa

A quantitative analysis of oil-price shocks, systematic monetary policy, and economic downturns pp. 781-808

Sylvain Leduc and Keith Sill

Dynamic risksharing in the United States and Europe pp. 809-836

Pierfederico Asdrubali and Soyoung Kim

Regime-switching debt and taxation pp. 837-859

Troy Davig

Volume 51, issue 3, 2004

Does bank lending affect output? Evidence from the U.S. states pp. 451-471

John Driscoll

Real exchange rate persistence and monetary policy rules pp. 473-502

Gianluca Benigno

Indeterminacy, aggregate demand, and the real business cycle pp. 503-530

Jess Benhabib and Yi Wen

Optimal maturity of government debt without state contingent bonds pp. 531-554

Francisco Buera and Juan Pablo Nicolini

Entrepreneurial activity, risk, and the business cycle pp. 555-573

Adriano Rampini

Optimal fiscal and monetary policy with sticky prices pp. 575-607

Henry E. Siu

Consumption and risk sharing over the life cycle pp. 609-633

Kjetil Storesletten, Chris Telmer and Amir Yaron

The impact of monetary policy on the exchange rate: evidence from three small open economies pp. 635-652

Jeromin Zettelmeyer

Ambiguity aversion and the absence of wage indexation pp. 653-670

Sujoy Mukerji and Jean-Marc Tallon

Volume 51, issue 2, 2004

Social norms and money pp. 241-256

Luis Araujo

International business cycles: What are the facts? pp. 257-276

Steven Ambler, Emanuela Cardia and Christian Zimmermann

Unemployment and the business cycle pp. 277-298

Michelle Alexopoulos

On the irrelevance of government debt when taxes are distortionary pp. 299-304

Marco Bassetto and Narayana Kocherlakota

Implications of habit formation for optimal monetary policy pp. 305-325

Jeffery D. Amato and Thomas Laubach

Learning and the central bank pp. 327-338

Charles Carlstrom and Timothy Fuerst

Self-enforcing employment contracts and business cycle fluctuations pp. 339-373

Christian Sigouin

Market discipline and deposit insurance pp. 375-399

Asli Demirguc-Kunt and Harry Huizinga

Optimal pricing of intraday liquidity pp. 401-424

Antoine Martin

Patterns of plant adjustment pp. 425-450

Plutarchos Sakellaris

Volume 51, issue 1, 2004

Importing technology pp. 1-32

Francesco Caselli and Daniel Wilson

Comment on: "Importing technology" pp. 33-38

Samuel Kortum

Cross-country technology adoption: making the theories face the facts pp. 39-83

Diego Comin and Bart Hobijn

Comment on: "Cross-country technology adoption: making the theories face the facts" pp. 85-87

Wilbur Coleman

Strategic innovation and technology adoption in an evolving industry pp. 89-121

Darren Filson and Richard Gretz

Comment on: "Strategic innovation and technology adoption in an evolving industry" pp. 123-126

Matthew Mitchell

Rent-seeking and innovation pp. 127-160

Michele Boldrin and David Levine

US-Europe differences in technology-driven growth: quantifying the role of education pp. 161-190

Dirk Krueger and Krishna Kumar

Aggregate returns to scale and embodied technical change: theory and measurement using stock market data pp. 191-233

John Laitner and Dmitriy Stolyarov

Comment on "Aggregate returns to scale and embodied technical change: theory and measurement using stock market data" pp. 235-240

Peter Rousseau