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 107, issue C, 2019

Managing credit booms and busts: A Pigouvian taxation approach pp. 2-17

Olivier Jeanne and Anton Korinek

Investor sophistication and capital income inequality pp. 18-31

Marcin Kacperczyk, Jaromir Nosal and Luminita Stevens

Booms and busts with dispersed information pp. 32-47

Kenza Benhima

Inflation targeting and liquidity traps under endogenous credibility pp. 48-62

Cars Hommes and Joep Lustenhouwer

Financial frictions, occupational choice and economic inequality pp. 63-76

Lian Allub and Andres Erosa

Real sectoral spillovers: A dynamic factor analysis of the great recession pp. 77-95

Nan Li and Vance Martin

Disagreement beta pp. 96-113

George P. Gao, Xiaomeng Lu, Zhaogang Song and Hongjun Yan

Aggregate effects of minimum wage regulation at the zero lower bound pp. 114-128

Andrew Glover

Volume 106, issue C, 2019

Can currency competition work? pp. 1-15

Jesus Fernandez-Villaverde and Daniel Sanches

Some simple bitcoin economics pp. 16-26

Linda Schilling and Harald Uhlig

On the equivalence of private and public money pp. 27-41

Markus Brunnermeier and Dirk Niepelt

Private money creation, liquidity crises, and government interventions pp. 42-58

Pierpaolo Benigno and Roberto Robatto

The short rate disconnect in a monetary economy pp. 59-77

Moritz Lenel, Monika Piazzesi and Martin Schneider

Deposit spreads and the welfare cost of inflation pp. 78-93

Pablo Kurlat

Volume 105, issue C, 2019

Loss-offset provisions in the corporate tax code and misallocation of capital pp. 1-20

Baris Kaymak and Immo Schott

Comments on ‘Loss-offset provisions in the corporate tax code and misallocation of capital’ pp. 21-23

Venky Venkateswaran

Heads I win, tails you lose: Asymmetric taxes, risk taking, and innovation pp. 24-40

James F. Albertus, Brent Glover and Oliver Levine

Comment on “Heads I win, tails you lose: Asymmetric taxes, risk taking, and innovation” by James F. Albertus, Brent Glover and Oliver Levine pp. 41-43

Eva Carceles-Poveda

The impact of the Tax Cut and Jobs Act on the spatial distribution of high productivity households and economic welfare pp. 44-71

Daniele Coen-Pirani and Holger Sieg

Comment on “The impact of the tax cut and jobs act on the spatial distribution of high productivity households and economic welfare”, by Daniele Coen-Pirani and Holger Sieg pp. 72-73

Rebecca Lessem

State-level implications of federal tax policies pp. 74-90

Chang Liu and Noah Williams

State-level implications of federal tax policies: Comments pp. 91-93

Karel Mertens

Reviving american entrepreneurship? tax reform and business dynamism pp. 94-108

Petr Sedlacek and Vincent Sterk

Comment on “Reviving American entrepreneurship? Tax reform and business dynamism” by Petr Sedláček and Vincent Sterk pp. 109-113

Gian Luca Clementi

Taxation and the life cycle of firms pp. 114-130

Andres Erosa and Beatriz González

Discussion of “Taxation and The Life Cycle of Firms” by Erosa and González pp. 131-134

Sebastian Dyrda

Volume 104, issue C, 2019

The dire effects of the lack of monetary and fiscal coordination pp. 1-22

Francesco Bianchi and Leonardo Melosi

The political economy of sovereign defaults pp. 23-36

Eugenia Andreasen, Guido Sandleris and Alejandro Van der Ghote

Conservatism and liquidity traps pp. 37-47

Taisuke Nakata and Sebastian Schmidt

Price competition in an inflationary environment pp. 48-66

Peter Duersch and Thomas Eife

Employment, hours and the welfare effects of intra-firm bargaining pp. 67-84

Maarten Dossche, Vivien Lewis and Céline Poilly

Entrepreneurial tail risk: Implications for employment dynamics pp. 85-100

Thorsten Drautzburg

Wealth distribution with random discount factors pp. 101-113

Alexis Akira Toda

Cross-border portfolio diversification under trade linkages pp. 114-128

Makram Khalil

Volume 103, issue C, 2019

Oil price elasticities and oil price fluctuations pp. 1-20

Dario Caldara, Michele Cavallo and Matteo Iacoviello

Real exchange rate convergence: The roles of price stickiness and monetary policy pp. 21-32

Charles Engel

Reserve requirements and optimal Chinese stabilization policy pp. 33-51

Chun Chang, Zheng Liu, Mark Spiegel and Jingyi Zhang

Capital controls and monetary policy in sudden-stop economies pp. 52-74

Michael Devereux, Eric Young and Changhua Yu

Evolving comparative advantage, sectoral linkages, and structural change pp. 75-87

Michael Sposi

Institutional integration and economic growth in Europe pp. 88-104

Nauro Campos, Fabrizio Coricelli and Luigi Moretti

Financial frictions, investment, and Tobin’s q pp. 105-122

Dan Cao, Guido Lorenzoni and Karl Walentin

The power of sunspots: An experimental analysis pp. 123-136

Dietmar Fehr, Frank Heinemann and Aniol Llorente-Saguer

Volume 102, issue C, 2019

Forward guidance pp. 1-23

Marcus Hagedorn, Jinfeng Luo, Iourii Manovskii and Kurt Mitman

Forward guidance a Comment pp. 24-28

Jeffrey Lacker

Practical policy evaluation pp. 29-45

Narayana Kocherlakota

Discussion: Practical policy evaluation pp. 46-52

Harold Cole

On the mechanics of New-Keynesian models pp. 53-69

Peter Rupert and Roman Sustek

Long and Plosser meet Bewley and Lucas pp. 70-92

Feng Dong and Yi Wen

Comment on Long and Plosser meet Bewley and Lucas pp. 93-95

Aubhik Khan

Trading down and the business cycle pp. 96-121

Nir Jaimovich, Sergio Rebelo and Arlene Wong

The optimal public and private provision of safe assets pp. 126-144

Marina Azzimonti and Pierre Yared

Comments on “Optimal supply of public and private liquidity” by Marina Azzimonti and Pierre Yared pp. 145-152

Saki Bigio