Journal of Monetary Economics

1975 - 2025

Current editor(s): R. G. King and C. I. Plosser

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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

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

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

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

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 A. 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

Market segmentation and spending multipliers pp. 1-19: Christian Proebsting
Does fiscal policy matter for stock-bond return correlation? pp. 20-34: Erica X.N. Li, Tao Zha, Ji Zhang and Hao Zhou
Optimal bailouts and the doom loop with a financial network pp. 35-50: Agostino Capponi, Felix Corell and Joseph Stiglitz
Wealth accumulation, on-the-job search and inequality pp. 51-71: Gaston Chaumont and Shouyong Shi
Self-enforcing contracts with persistence pp. 72-87: Martin Dumav, William Fuchs and Jangwoo Lee
The importance of technology in banking during a crisis pp. 88-104: Nicola Pierri and Yannick Timmer
Rational inattention, menu costs, and multi-product firms: Micro evidence and aggregate implications pp. 105-123: Choongryul Yang
Inflation expectations of households and the upgrading channel pp. 124-138: Sumit Agarwal, Yeow Hwee Chua and Changcheng Song

The unbearable lightness of equilibria in a low interest rate environment pp. 1-17: Guido Ascari and Sophocles Mavroeidis
Will the AI revolution cause a great divergence? pp. 18-37: Cristian Alonso, Andrew Berg, Siddharth Kothari, Chris Papageorgiou and Sidra Rehman
Are IMF rescue packages effective? A synthetic control analysis of macroeconomic crises pp. 38-53: Kevin Kuruc
Central bank digital currency in an open economy pp. 54-68: Massimo Ferrari Minesso, Arnaud Mehl and Livio Stracca
Central bank communication with non-experts – A road to nowhere? pp. 69-85: Michael Ehrmann and Alena Wabitsch
Rising wealth inequality: Intergenerational links, entrepreneurship, and the decline in interest rate pp. 86-104: Ayşe İmrohoroğlu and Kai Zhao