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 126, issue C, 2022

Demographics and the evolution of global imbalances pp. 1-14

Michael Sposi

Resolving the missing deflation puzzle pp. 15-34

Martin Harding, Jesper Lindé and Mathias Trabandt

Money runs pp. 35-57

Jason Roderick Donaldson and Giorgia Piacentino

The collateral rule: Evidence from the credit default swap market pp. 58-86

Agostino Capponi, Wan-Schwin Allen Cheng, Stefano Giglio and Richard Haynes

Is there news in inventories? pp. 87-104

Christoph Görtz, Christopher Gunn and Thomas A. Lubik

Economic theories and macroeconomic reality pp. 105-117

Francesca Loria, Christian Matthes and Mu-Chun Wang

Subjective intertemporal substitution pp. 118-133

Richard Crump, Stefano Eusepi, Andrea Tambalotti and Giorgio Topa

Wealth redistribution in bubbles and crashes pp. 134-153

Li An, Dong Lou and Donghui Shi

Capital and income inequality: An aggregate-demand complementarity pp. 154-169

Florin Bilbiie, Diego Känzig and Paolo Surico

Loan types and the bank lending channel pp. 171-187

Victoria Ivashina, Luc Laeven and Enrique Moral-Benito

Dynamics of bond and stock returns pp. 188-209

Serhiy Kozak

Volume 125, issue C, 2022

Central banking challenges posed by uncertain climate change and natural disasters pp. 1-15

Lars Peter Hansen

Fiscal and monetary stabilization policy at the zero lower bound: Consequences of limited foresight pp. 18-35

Michael Woodford and Yinxi Xie

Comments on “Fiscal and monetary stabilization policy at the zero lower bound: Consequences of limited foresight” by Woodford and Xie pp. 36-39

Chen Lian

No firm is an island? How industry conditions shape firms’ expectations pp. 40-56

Philippe Andrade, Olivier Coibion, Erwan Gautier and Yuriy Gorodnichenko

Comment on “No firm is an island? How industry conditions shape firms’ expectations” by Philippe Andrade, Olivier Coibion, Erwan Gautier and Yuriy Gorodnichenko pp. 57-61

Isabelle Salle

Designing central bank digital currencies pp. 62-79

Itai Agur, Anil Ari and Dell’Ariccia, Giovanni

Cash: A Blessing or a curse? pp. 85-128

Fernando Alvarez, David Argente, Rafael Jimenez and Francesco Lippi

The supply and demand for safe assets pp. 132-147

Gary Gorton and Guillermo Ordonez

Comment on “The supply and demand for safe assets” pp. 148-150

Moritz Lenel

Optimal monetary policy and disclosure with an informationally-constrained central banker pp. 151-172

Luigi Iovino, La’O, Jennifer and Rui Mascarenhas

Comment on Iovino, La’O and Mascarenhas, “Optimal Monetary Policy and Disclosure with an Informationally-Constrained Central Banker” pp. 173-181

V.V. Chari and Luis Perez

Central Bank Policy and the concentration of risk: Empirical estimates pp. 182-198

Nuno Coimbra, Daisoon Kim and Helene Rey

Comment on “central bank policy and the concentration of risk: Empirical estimates” by Nuno Coimbra, Daisoon Kim and Hélène Rey pp. 199-201

Nina Boyarchenko

Volume 124, issue S, 2021

Debt sustainability in a low interest rate world pp. S1-S18

Neil R. Mehrotra and Dmitriy Sergeyev

Kaldor and Piketty’s facts: The rise of monopoly power in the United States pp. S19-S38

Gauti Eggertsson, Jacob A. Robbins and Ella Getz Wold

Misallocation or Mismeasurement? pp. S39-S56

Mark Bils, Peter J. Klenow and Cian Ruane

Why have interest rates fallen far below the return on capital? pp. S57-S76

Magali Marx, Benoit Mojon and Francois Velde

Entry costs and aggregate dynamics pp. S77-S91

Germán Gutiérrez, Callum Jones and Thomas Philippon

Intangibles, markups, and the measurement of productivity growth pp. S92-S109

Nicolas Crouzet and Janice Eberly

Volume 124, issue C, 2021

Inflation’s role in optimal monetary-fiscal policy pp. 1-18

Eric M. Leeper and Xuan Zhou

The Treasury Market in Spring 2020 and the Response of the Federal Reserve pp. 19-47

Annette Vissing-Jorgensen

Monetary policy surprises and their transmission through term premia and expected interest rates pp. 48-65

Iryna Kaminska, Haroon Mumtaz and Roman Šustek

Secular stagnation, financial frictions, and land prices pp. 66-90

Zhifeng Cai

US Fiscal cycle and the dollar pp. 91-106

Zhengyang Jiang

Hitting the elusive inflation target pp. 107-122

Francesco Bianchi, Leonardo Melosi and Matthias Rottner

Time preferences over the life cycle and household saving puzzles pp. 123-139

Wataru Kureishi, Hannah Paule-Paludkiewicz, Hitoshi Tsujiyama and Midori Wakabayashi

Taylor rule estimation by OLS pp. 140-154

Carlos Carvalho, Fernanda Nechio and Tiago Tristão

Volume 123, issue C, 2021

Volatile hiring: uncertainty in search and matching models pp. 1-18

Wouter J. Den Haan, Lukas Freund and Pontus Rendahl

International business cycles: Information matters pp. 19-34

Eleni Iliopulos, Erica Perego and Thepthida Sopraseuth

Financial fragility in the COVID-19 crisis: The case of investment funds in corporate bond markets pp. 35-52

Antonio Falato, Itay Goldstein and Ali Hortaçsu

Asset price beliefs and optimal monetary policy pp. 53-67

Colin Caines and Fabian Winkler

Quantitative easing with heterogeneous agents pp. 68-90

Wei Cui and Vincent Sterk

Expectations and aggregate risk pp. 91-108

Lorenzo Bretscher, Aytek Malkhozov and Andrea Tamoni

Volume 122, issue C, 2021

The macroeconomics of automation: Data, theory, and policy analysis pp. 1-16

Nir Jaimovich, Itay Saporta-Eksten, Henry Siu and Yaniv Yedid-Levi

Were there fire sales in the RMBS market? pp. 17-37

Craig B. Merrill, Taylor D. Nadauld, René M. Stulz and Shane M. Sherlun

Domestic price dollarization in emerging economies pp. 38-55

Andrés Drenik and Diego J. Perez

Price selection pp. 56-75

Carlos Carvalho and Oleksiy Kryvtsov

Deep learning for solving dynamic economic models pp. 76-101

Lilia Maliar, Serguei Maliar and Pablo Winant

Investment externalities in models of fire sales pp. 102-118

Pablo Kurlat