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 134, issue C, 2023

Fiscal foresight and the effects of government spending: It’s all in the monetary-fiscal mix pp. 1-15

Guido Ascari, Peder Beck-Friis, Anna Florio and Alessandro Gobbi

Barriers to black entrepreneurship: Implications for welfare and aggregate output over time pp. 16-34

Pedro Bento and Sunju Hwang

Rising earnings inequality and optimal income tax and social security policies pp. 35-52

Pavel Brendler

Monetary policy and intangible investment pp. 53-72

Robin Döttling and Lev Ratnovski

Predicting the demand for central bank digital currency: A structural analysis with survey data pp. 73-85

Jiaqi Li

The liquidity channel of fiscal policy pp. 86-117

Christian Bayer, Benjamin Born and Ralph Luetticke

Returns to scale, firm entry, and the business cycle pp. 118-134

Vladimir Smirnyagin

Strategic referrals and on-the-job search equilibrium pp. 135-151

Ji-Woong Moon

Volume 133, issue C, 2023

Unequal growth pp. 1-18

Francesco Lippi and Fabrizio Perri

Comments on unequal growth pp. 19-24

Giovanni Gallipoli

Wealth inequality dynamics in europe and the united states: Understanding the determinants pp. 25-43

Thomas Blanchet and Clara Martínez-Toledano

Comments on “Wealth inequality dynamics in Europe and the United States: Understanding the determinants” by Blanchet and Martínez-Toledano pp. 44-47

Eric Zwick

Globalization, trade imbalances and inequality pp. 48-72

Rafael Dix-Carneiro and Sharon Traiberman

A comment on: Globalization, trade imbalances and inequality pp. 73-76

Lorenzo Caliendo

A north-south model of structural change and growth pp. 77-102

Maria Aristizabal-Ramirez, John Leahy and Linda L. Tesar

Does the Cream Always Rise to the Top? The Misallocation of Talent in Innovation pp. 105-128

Murat Celik

Comment on “Does the Cream Always Rise to the Top? The Misallocation of Talent in Innovation” by Murat Alp Celik pp. 129-131

Salome Baslandze

Wealth Inequality and Endogenous Growth pp. 132-148

Byoungchan Lee

A comment on “wealth inequality and endogenous growth” by Byoungchan Lee pp. 149-155

Shijun Gu and Chengcheng Jia

Volume 132, issue C, 2022

State dependence of fiscal multipliers: the source of fluctuations matters pp. 1-23

Mishel Ghassibe and Francesco Zanetti

A new approach to integrating expectations into VAR models pp. 24-43

Taeyoung Doh and A. Lee Smith

Are long-horizon expectations (de-)stabilizing? Theory and experiments pp. 44-63

George Evans, Cars Hommes, Bruce McGough and Isabelle Salle

Bubbly firm dynamics and aggregate fluctuations pp. 64-80

Haozhou Tang and Donghai Zhang

State-level economic policy uncertainty pp. 81-99

Scott Baker, Steven Davis and Jeffrey A. Levy

College education and income contingent loans in equilibrium pp. 100-117

Kazushige Matsuda and Karol Mazur

Credit growth and the financial crisis: A new narrative pp. 118-139

Stefania Albanesi, Giacomo DeGiorgi and Jaromir Nosal

The case for a positive euro area inflation target: Evidence from france, germany and italy pp. 140-153

Klaus Adam, Erwan Gautier, Sergio Santoro and Henning Weber

Volume 131, issue C, 2022

Stabilization with fiscal policy pp. 1-14

Narayana Kocherlakota

The inexorable recoveries of unemployment pp. 15-25

Robert E. Hall and Marianna Kudlyak

Employment and the residential collateral channel of monetary policy pp. 26-44

Saleem Bahaj, Angus Foulis, Gabor Pinter and Paolo Surico

What goes around comes around: How large are spillbacks from US monetary policy? pp. 45-60

Max Breitenlechner, Georgios Georgiadis and Ben Schumann

Recessions and the stock market pp. 61-77

Tim Kroencke

Efficient redistribution pp. 78-91

Corina Boar and Virgiliu Midrigan

How sovereign is sovereign credit risk? Global prices, local quantities pp. 92-111

Patrick Augustin, Valeri Sokolovski, Marti G. Subrahmanyam and Davide Tomio

Austerity and distributional policy pp. 112-127

Matteo Alpino, Zareh Asatryan, Sebastian Blesse and Nils Wehrhöfer

Volume 130, issue C, 2022

A natural level of capital flows pp. 1-16

John Burger, Francis E. Warnock and Veronica Cacdac Warnock

How much consumption insurance in the U.S.? pp. 17-33

Dmytro Hryshko and Iourii Manovskii

Cross country stock market comovement: A macro perspective pp. 34-48

Alexis Anagnostopoulos, Orhan Erem Atesagaoglu, Elisa Faraglia and Chryssi Giannitsarou

Monetary Policy and Bank Equity Values in a Time of Low and Negative Interest Rates pp. 49-67

Miguel Ampudia and Skander Van den Heuvel

Structural change in labor supply and cross-country differences in hours worked pp. 68-85

Alexander Bick, Nicola Fuchs-Schündeln, David Lagakos and Hitoshi Tsujiyama

The convenience of electronic payments and consumer cash demand pp. 86-102

Martin Brown, Nicole Hentschel, Hannes Mettler and Helmut Stix

House prices, home equity and entrepreneurship: Evidence from U.S. census micro data pp. 103-119

Sari Pekkala Kerr, William Kerr and Ramana Nanda

Credit risk and the transmission of interest rate shocks pp. 120-136

Berardino Palazzo and Ram Yamarthy

Volume 129, issue S, 2022

Household spending and fiscal support during the COVID-19 pandemic: Insights from a new consumer survey pp. S1-S14

Dimitris Georgarakos and Geoff Kenny

Inflation expectations and the ECB’s perceived inflation objective: Novel evidence from firm-level data pp. S15-S34

Marco Bottone, Alex Tagliabracci and Giordano Zevi

News and uncertainty about COVID-19: Survey evidence and short-run economic impact pp. S35-S51

Alexander M. Dietrich, Keith Kuester, Gernot Müller and Raphael Schoenle

Would households understand average inflation targeting? pp. S52-S66

Mathias Hoffmann, Emanuel Moench, Lora Pavlova and Guido Schultefrankenfeld

Inflation disasters and consumption pp. S67-S81

Jane Ryngaert

A new approach to assess inflation expectations anchoring using strategic surveys pp. S82-S101

Olivier Armantier, Argia Sbordone, Giorgio Topa, Wilbert van der Klaauw and John Williams

Volume 129, issue C, 2022

Intergenerational mobility begins before birth pp. 1-20

Ananth Seshadri and Anson Zhou

Economic opportunity begins with contraception: Comment on “Intergenerational Mobility Begins Before Birth” by Ananth Seshadri, Anson Zhou pp. 21-23

Martha Bailey

What is the source of the intergenerational correlation in earnings? pp. 24-45

George-Levi Gayle, Limor Golan and Mehmet Soytas

What is the source of the intergenerational correlation in earnings? A comment pp. 46-48

Corina Boar

Students’ heterogeneous preferences and the uneven spatial distribution of colleges pp. 49-64

Chao Fu, Junjie Guo, Adam J. Smith and Alan Sorensen

Technical change and the demand for talent pp. 65-88

Julieta Caunedo and Elisa Keller

Comments on Julieta Caunedo and Elisa Keller’s “Technical change and the demand for talent” pp. 89-92

Sophie Osotimehin

Female entrepreneurship, financial frictions and capital misallocation in the US pp. 93-118

Marta Morazzoni and Andrea Sy

Comment on “Female entrepreneurship, financial frictions and capital misallocation in the US” pp. 119-122

Peter J. Klenow

Homeownership segregation pp. 123-149

Nirupama Kulkarni and Ulrike Malmendier