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 44, issue 3, 1999

The effects of irreversibility and uncertainty on capital accumulation pp. 339-377

Andrew Abel and Janice Eberly

Inflation and financial sector size pp. 379-400

William B. English

On high inflation and the allocation of resources pp. 401-421

Mariano Tommasi

Common and country-specific fluctuations in productivity, investment, and the current account pp. 423-451

Allan Gregory and Allen C. Head

An equilibrium theory of nominal and real exchange rate comovement pp. 453-475

Mary G. Finn

An empirically plausible model of low real interest rates and unbacked government debt pp. 477-508

James Bullard and Steven Russell

Analytical solutions to a structural signal extraction model: Lucas 1972 revisited pp. 509-521

Jean-Pascal Benassy

The cyclical sensitivity of seasonality in U.S. employment pp. 523-553

Spencer Krane and William Wascher

Endogenous term premia and anomalies in the term structure of interest rates: Explaining the predictability smile pp. 555-580

William Roberds and Charles Whiteman

On the efficiency and equity trade-off pp. 581-603

Isabel Correia

Volume 44, issue 2, 1999

A neoclassical model of the Phillips curve relation pp. 165-193

Thomas Cooley and Vincenzo Quadrini

Inflation dynamics: A structural econometric analysis pp. 195-222

Jordi Galí and Mark Gertler

The Phillips curve in Australia pp. 223-258

David Gruen, Adrian Pagan and Christopher Thompson

UK Phillips curves and monetary policy pp. 259-278

Andrew Haldane and Danny Quah

Does the time-consistency problem explain the behavior of inflation in the United States? pp. 279-291

Peter Ireland

Forecasting inflation pp. 293-335

James H. Stock and Mark Watson

Volume 44, issue 1, 1999

Chaos, sunspots and automatic stabilizers pp. 3-31

Lawrence Christiano and Sharon G. Harrison

Pricing free bank notes pp. 33-64

Gary Gorton

Technology, growth and the business cycle pp. 65-80

Jean Imbs

Search, inflation and capital accumulation pp. 81-103

Shouyong Shi

On the Fisher effect pp. 105-130

Zisimos Koustas and Apostolos Serletis

The indeterminacy of prices under interest rate pegging: The non-Ricardian case pp. 131-148

Matthew J. Cushing

Sovereign debt and consumption smoothing pp. 149-158

Herschel Grossman and Taejoon Han

Volume 43, issue 3, 1999

Pioneering price level targeting: The Swedish experience 1931-1937 pp. 525-551

Claes Berg and Lars Jonung

Nominal income targeting in an open-economy optimizing model pp. 553-578

Bennett McCallum and Edward Nelson

International experiences with different monetary policy regimesMishkin, 1998b). Any views expressed in this paper are those of the author only and not those of Columbia University or the National Bureau of Economic Research pp. 579-605

Frederic Mishkin

Inflation targeting as a monetary policy rule pp. 607-654

Lars E. O. Svensson

The robustness and efficiency of monetary policy rules as guidelines for interest rate setting by the European central bank pp. 655-679

John Taylor

Money growth targeting by the Bundesbank pp. 681-701

Juergen von Hagen

Volume 43, issue 2, 1999

On the optimality of interest rate smoothing pp. 263-282

Sergio Rebelo and Danyang Xie

Inflation, financial markets and long-run real activity pp. 283-315

Elisabeth Huybens and Bruce D. Smith

The role of intratemporal adjustment costs in a multisector economy pp. 317-350

Gregory W. Huffman and Mark Wynne

The permanent income hypothesis:: Evidence from the consumer expenditure survey pp. 351-376

Joseph DeJuan and John J. Seater

The liquidity effect and money demand pp. 377-390

David Cook

Aggregation and irrelevance in multi-sector models pp. 391-409

Bill Dupor

Taxation and long-run growth1 pp. 411-434

Lutz Hendricks

Heterogeneous expectations and tests of efficiency in the yen/dollar forward exchange rate market pp. 435-456

Graham Elliott and Takatoshi Ito

Labor market search and the dynamic effects of taxes and subsidies pp. 457-495

Shouyong Shi and Quan Wen

Optimal monetary policy rules in a rational expectations model of the Phillips curve pp. 497-520

Peter B. Clark, Charles A. E. Goodhart and Haizhou Huang

Volume 43, issue 1, 1999

Risk premia and term premia in general equilibrium pp. 3-33

Andrew Abel

Endogenous trade policy and the gains from international financial markets pp. 35-59

Michael Devereux and Khang Min Lee

Money, politics and the post-war business cycle pp. 61-89

Jon Faust and John S. Irons

Heterogeneous job-matches and the cyclical behavior of labor turnover pp. 91-124

Monika Merz

Temporary and permanent government spending in a small open economy pp. 125-141

Cem Karayalcin

Irreversible investment and endogenous financing: An evaluation of the corporate tax effects pp. 143-171

Miquel Faig and Pauline Shum

Cost reduction, entry, and the interdependence of market structure and economic growth pp. 173-195

Pietro Peretto

Rediscounting under aggregate risk pp. 197-216

Scott Freeman

Whose monetary policy is it anyway? pp. 217-235

Geoffrey Tootell

Informational overshooting, booms, and crashes pp. 237-257

Joseph Zeira

Volume 42, issue 3, 1998

The optimum quantity of debt pp. 447-469

S. Aiyagari and Ellen McGrattan

Real interest rates and central bank operating procedures pp. 471-494

Matthew Canzoneri and Harris Dellas

The augmented Solow model and the productivity slowdown pp. 495-509

James D. Hamilton and Josefina Monteagudo

Spotting sunspots: Some evidence in support of models with self-fulfilling prophecies pp. 511-523

Kevin D. Salyer and Steven M. Sheffrin

Can political monetary cycles be avoided? pp. 525-545

Ali al-Nowaihi and Paul Levine

Inflation, nominal interest rates and the variability of output pp. 547-573

Bankim Chadha and Daniel Tsiddon

Monetary shocks in the G-6 countries: Is there a puzzle? pp. 575-592

Ben Fung and Marcel Kasumovich

Volume 42, issue 2, 1998

Repeated insurance relationships in a costly state verification model: With an application to deposit insurance pp. 207-240

Bruce D. Smith and Cheng Wang

Estimating the effects of monetary shocks: An evaluation of different approaches pp. 241-260

Paul Beaudry and Makoto Saito

Nonlinear response of firm investment to Q:: Testing a model of convex and non-convex adjustment costs1 pp. 261-288

Steven A. Barnett and Plutarchos Sakellaris

New evidence on labor supply:: Employment versus hours elasticities by sex and marital status pp. 289-301

Jean Kimmel and Thomas Kniesner

Sluggish inflation and optimizing models of the business cycle pp. 303-322

Edward Nelson

Fiscal policy in an endogenous growth model with human capital accumulation pp. 323-355

Salvador Ortigueira

Intrinsic bubbles and regime-switching pp. 357-373

Edward Driffill and Martin Sola

The early development of monetary policy rules: The view from Geneva in the 1920s pp. 375-386

A. M. Endres and Grant A. Fleming

The permanent effects of innovation on financial depth:: Theory and US historical evidence from unobservable components models pp. 387-425

Peter Rousseau

On the adjustment matrix in error correction models pp. 427-444

Robert Rossana

Volume 42, issue 1, 1998

Ideas versus rival human capital: Industry evidence on growth models pp. 3-23

Pete Klenow

Fiscal policy and saving under distortionary taxation pp. 25-45

Momi Dahan and Zvi Hercowitz

Is public capital provision efficient? pp. 47-66

Glenn D. Otto and Graham Voss

Human capital formation and business cycle persistence pp. 67-92

Roberto Perli and Plutarchos Sakellaris

Exploring the income distribution business cycle dynamics pp. 93-130

Ana Castaneda, Javier Díaz-Giménez and José-Víctor Ríos-Rull

Middlemen and private information pp. 131-159

Yiting Li

Banks' demand for reserves when future monetary policy is uncertain pp. 161-183

Dieter Nautz

Can a real business cycle model pass the Watson test? pp. 185-203

Yi Wen