Journal of Monetary Economics 108 (2019) 185–202 Contents lists available at ScienceDirect Journal of Monetary Economics journal homepage: www.elsevier.com/locate/jmoneco The long-run information effect of central bank communication Stephen Hansen a, Michael McMahon b, ∗, Matthew Tong c a Imperial College Business School and CEPR, United Kingdom Journal of Monetary Economics 66 (2014) 62–78 technical change as an example, its individual effect on inequality to raise the skilled–unskilled wage differential will be checked in the long-run as firms substitute towards cheaper factors of production or as labor supplies and education Business cycle and industry returns, select article Pecuniary externalities in economies with downward wage rigidity, Pecuniary externalities in economies with downward wage rigidity, select article Fiscal forward guidance: A case for selective transparency, Fiscal forward guidance: A case for selective transparency, select article Innovation, automation, and inequality: Policy challenges in the race against the machine, Innovation, automation, and inequality: Policy challenges in the race against the machine, select article Risk endogeneity at the lender/investor-of-last-resort, Risk endogeneity at the lender/investor-of-last-resort, select article Economic leadership and growth, select article The cyclical component of labor market polarization and jobless recoveries in the US, The cyclical component of labor market polarization and jobless recoveries in the US. The Journal of Monetary Economics publishes important research contributions to a wide range of modern macroeconomic topics including work along empirical, methodological and theoretical lines. Gürkaynak et al. In addition, using up-to-date instruments in estimating conditional betas hardly alleviates the problem of Elsevier has prepared some author instructions that should be reviewed prior to submitting supplementary files: For supplementary artwork, please refer to www.elsevier.com/artwork, Please note that .zip files are acceptable as a format for supplements (see http://www.elsevier.com/wps/find/authorsview.authors/archives_multimedia for instructions on zip files and other archive formats). Receive an update when the latest issues in this journal are published, https://doi.org/10.1016/S0304-3932(20)30124-0, https://doi.org/10.1016/j.jmoneco.2019.10.001, Ernesto Pasten, Raphael Schoenle, Michael Weber, https://doi.org/10.1016/j.jmoneco.2019.10.004, https://doi.org/10.1016/j.jmoneco.2019.08.019, https://doi.org/10.1016/j.jmoneco.2019.09.006, https://doi.org/10.1016/j.jmoneco.2019.09.005, Philippe Bacchetta, Kenza Benhima, Yannick Kalantzis, https://doi.org/10.1016/j.jmoneco.2019.09.009, https://doi.org/10.1016/j.jmoneco.2019.09.010, https://doi.org/10.1016/j.jmoneco.2019.09.012, https://doi.org/10.1016/j.jmoneco.2019.09.014, https://doi.org/10.1016/j.jmoneco.2019.09.015, V.V. Aims and scope. 2 D. Caldara, M. Iacoviello and P. Molligo et al. 1. This potential damage to the banks represents in itself a signaling device that attracts more and cheaper foreign lending. Background and related work Cryptocurrencies and associated markets represent a nascent but growing force within the financial sector. Devereux et al. Download Guide for Authors in PDF. The model The economy is closed. David et al. Discussion and comments A key feature of the literature is the estimation of fully specified behavioral models of migration, explicitly account- ing for the tradeoff between the costs of migration, including both physical and emotional moving costs, and the benefits B.K. Kevin Milligan and Mark Stabile, The integration of child tax credits and welfare: Evidence from the Canadian National Child Benefit program, Journal of Public Economics, Volume 91, Issues 1-2, , February 2007, Pages 305-326. Business cycle and industry returns, Does history repeat itself? 90 C. Sosa-Padilla / Journal of Monetary Economics 99 (2018) 88–105 external sovereign debt in which domestic debt weakens the balance sheets of banks. / Journal of Monetary Economics xxx (xxxx) xxx ARTICLE IN PRESS JID: MONEC [m3Gsc;March 18, 2019;22:13] well as over-pessimistic ones (negative forecast errors). Copyright © 2020 Elsevier B.V. or its licensors or contributors. 54 M.B. material from the ScienceDirect website), we show that all results obtained here in Section 2 are essentially unchanged when we limit attention to 25–64 years old. Journal of Monetary Economics 76 (2015) 71–86 first decade. Capital flow taxes are more effective than monetary policy at reducing borrowing and cushioning the economy from the adverse consequences of the sudden stop. Journal of Monetary Economics 60 (2013) 351–366 predict returns. G.M. Ramon Lopez and Gregmar I. Galinato, Should governments stop subsidies to private goods? Bitcoin, which became the first popular decentralized cryptocurrency in 2009, is the most researched because it is the most successful of the supplementary materials are clearly written and readily used by an individual that downloads one or more of these components. 2 We refer to this as the “legal entry ban” policy. / Journal of Monetary Economics 67 (2014) 16–32 17 a number of other papers that specifically study the MPC and internal–external differences within it including Gerlach- Kristen (2003), Bhattacharjee and Holly (2005), Spencer (2006), Besley et al. Second, it is the author’s responsibility to make sure that: Third, while the JME encourages the provision of supplementary materials, it does not review them with the same detail as the core paper. The figure below shows this way that the EES page should appear to an author submitting a manuscript. Cortes et al. 110 K.C. Pass-through funding. C. Altavilla, L. Brugnolini and R.S. M. Gonzalez-Eiras and D. Niepelt / Journal of Monetary Economics 114 (2020) 144–158 147 aside by the need to increase expenditure for New Deal policies and World War II spending. 28 M.K. As a result, the three supermarkets involved appeared to weather the storm of 2008–9 almost unscathed. Journal of Monetary Economics xxx (xxxx) xxx Contents lists available at ScienceDirect Journal of Monetary Economics journal homepage: www.elsevier.com/locate/jmoneco Wealth creation, wealth dilution and demography! Chari, Juan Pablo Nicolini, Pedro Teles, https://doi.org/10.1016/j.jmoneco.2019.08.008, https://doi.org/10.1016/j.jmoneco.2019.09.007, https://doi.org/10.1016/j.jmoneco.2019.10.005, https://doi.org/10.1016/j.jmoneco.2019.10.006, https://doi.org/10.1016/j.jmoneco.2019.10.007, https://doi.org/10.1016/j.jmoneco.2019.10.012, https://doi.org/10.1016/j.jmoneco.2019.10.014, https://doi.org/10.1016/j.jmoneco.2019.11.003, Diego Caballero, André Lucas, Bernd Schwaab, Xin Zhang, https://doi.org/10.1016/j.jmoneco.2019.11.004, https://doi.org/10.1016/j.jmoneco.2019.11.005, select article The propagation of monetary policy shocks in a heterogeneous production economy, The propagation of monetary policy shocks in a heterogeneous production economy, select article Price setting under uncertainty about inflation, Price setting under uncertainty about inflation, select article Lending effects of the ECB’s asset purchases, Lending effects of the ECB’s asset purchases, select article Public bank guarantees and allocative efficiency, Public bank guarantees and allocative efficiency, select article Money and capital in a persistent liquidity trap, Money and capital in a persistent liquidity trap, select article Price level targeting with evolving credibility, Price level targeting with evolving credibility, select article Price rigidities and the relative PPP, select article Money velocity and the natural rate of interest, Money velocity and the natural rate of interest, select article Price dispersion and the border effect, select article Optimal capital taxation revisited, select article An analysis of the importance of both destruction and creation to economic growth, An analysis of the importance of both destruction and creation to economic growth, select article The expectational effects of news in business cycles: Evidence from forecast data, The expectational effects of news in business cycles: Evidence from forecast data, select article Does history repeat itself? We provide a simple model of firm input choice in the face of un- ScienceDirect — Elsevier’s online distribution system for articles from JME and other journals — can be used to make supplementary materials available to interested readers. Mechanics of entering supplementary files: One enters supplementary files at the same “attach files” stage at which one enters the cover letter and the manuscript files within the EES system. ScienceDirect ® is a registered trademark of Elsevier B.V. ScienceDirect ® is a registered trademark of Elsevier B.V. Read the latest articles of Journal of Monetary Economics at ScienceDirect.com, Elsevier’s leading platform of peer-reviewed scholarly literature Copyright © 2020 Elsevier B.V. All rights reserved. 50 N. Crouzet, H. Oh / Journal of Monetary Economics 79 (2016) 49–66 imply a “target inventory-to-sales (IS) ratio” behavior: the IS ratio tends to revert back to its steady-state value, and tran- (Examples are provided by the two Journal of Public Economics articles cited below). Users are expected to communicate directly with the author about supplemental materials, not with the editor. No comments on or criticisms of supplemental materials will be considered for publication. / Journal of Monetary Economics 95 (2018) 86–96 2. / Journal of Monetary Economics 91 (2017) 69–87 71 Peretto / Journal of Monetary Economics xxx (xxxx) xxx 3 ARTICLE IN PRESS JID: MONEC [m3Gsc;January 24, 2020;11:54] 2. Journal of Monetary Economics 60 (2013) 113–133 it seems reasonable to expect that gross capital flows by foreign and domestic agents behave differently both over the cycle and during crises, as we in fact find in this paper. / Journal of Monetary Economics 103 (2019) 52–74 time, and the tax on capital inflows is around 11 percent during a crisis. Fourth, while the JME encourages the provision of supplementary materials via Science Direct, authors may additionally distribute these materials via their own websites or collective groups such as REPEC. Read the latest articles of Journal of Monetary Economics at ScienceDirect.com, Elsevier’s leading platform of peer-reviewed scholarly literature Recessions and technological transformation Alexandr Kopytov a, Nikolai Roussanov b, ∗, Mathieu Taschereau-Dumouchel c By continuing you agree to the use of cookies. Christa N. Brunnschweiler a, Pietro F. Peretto b, Simone Valente c, ∗ a University of East Anglia, United Kingdom First, an editor may require the provision of supplemental materials (such as proofs, data sets, or computational programs) as a condition of publication. Brunnermeier and D. Niepelt / Journal of Monetary Economics 106 (2019) 27–41 ALGov. Staiger / Journal of Monetary Economics 109 (2020) 35–37 externalities on trading partners, and where the inefficiencies to be addressed by a trade agreement are then fundamentally domestic rather than international in nature and hence require only domestic own-policy commitments to address. S. Hansen et al. (Examples are provided by the two Journal of Public Economics articles cited below). For example, a manuscript that included all of the above items should have separate supplementary material files labeled as, Powered by WordPress / Academica WordPress Theme by WPZOOM, http://www.elsevier.com/wps/find/authorsview.authors/archives_multimedia, http://www.sciencedirect.com/science/article/B6V76-4KCGHS9-2/2/6052a6f79728d7ff150b2f1ff2b2ba40, http://www.sciencedirect.com/science/article/B6V76-4MJRYYD-1/2/87d7578619b7873746ef4d9abc049078. Submission of supplemental materials: Authors may submit supplemental materials to the EES system along with the main paper, just as they can separately submit other items. Supplementary materials: details of proofs, Supplementary materials: computer programs, Supplementary materials: extensions, further explorations, and robustness of results. 2 S. Aum et al. 2 M. Tanaka, N. Bloom and J.M. P.F. & CB ALHouseholds Money Money Deposits B-Debt ALBanks B-Debt Deposits Fig. Journal of Monetary Economics 56 (2009) 494–513 long-run growth. Bishop / Journal of Monetary Economics 113 (2020) 109–111 2. the main paper can be read and understood without reference to the supplementary materials. Journal of Monetary Economics 97 (2018) 29–44 Contents lists available at ScienceDirect Journal of Monetary Economics journal homepage: www.elsevier.com/locate/jmoneco Short-run pain, long-run gain? appendices containing details of proofs, explanations of data sources, and details of computational algorithms; further explorations of topics studied in the published paper such as elaboration of theoretical models, robustness analysis of empirical specifications, or additional computational experiments. Home » » Authors » Appendices and supplemental material, Supplemental materials for Journal of Monetary Economics articles in. The editor may ask an author to prepare drafts of these supplemental materials and submit them along with a revised manuscript (as part of a “revise and resubmit” decision or one of the various acceptance decision). / Journal of Monetary Economics xxx (xxxx) xxx ARTICLE IN PRESS JID: MONEC [m3Gsc;November 25, 2019;8:15] For decades prior to these trade developments, there was limited volatility in trade policy, and thus limited study of the ScienceDirect — Elsevier’s online distribution system for articles from JME and other journals — can be used to make supplementary materials available to interested readers. Authors should label each submitted supplementary material file very clearly. Journal of Monetary Economics 102 (2019) 126–144 Contents lists available at ScienceDirect Journal of Monetary Economics journal homepage: www.elsevier.com/locate/jmoneco The optimal public and private provision of safe assets Marina Azzimonti a, Pierre Yared b, ∗ a StonyBrook University and NBER, 100 Nicolls Road, Brook, NY 11794, USA Kovak and R. Lessem / Journal of Monetary Economics 113 (2020) 92–108 93 U.S. immigration law states that in many cases an immigrant who was formally deported from the U.S. cannot legally reenter for a period of time for any reason, including family reunification or via a work visa. We find that a downward trend in aggregate productivity growth was … … The empirical literature on exchange rates is largely negative, suggesting to some that the degree of 90 I. Goldstein / Journal of Monetary Economics 89 (2017) 88–91 This result is quite striking and goes against the common belief, supported by other evidence, that mutual funds use cash to reduce the impact of redemptions. We use cookies to help provide and enhance our service and tailor content and ads. / Journal of Monetary Economics 108 (2019) 162–179 163 This paper helps remedy both deficiencies by constructing a long (by euro area standards) time series of policy-date event studies for the euro area, which will be kept up to date, and by using this data to measure and assess the ECB 88 N. Gandal et al. All variables are functions of (continuous) time but to simplify the notation the time argument is … These elements include: The Journal of Monetary Economics has the following policies with respect to these supplemental materials. / Journal of Monetary Economics 97 (2018) 1–21 faster technological progress specific to occupations that involve routine or repetitive tasks) in explaining trends in aggregate productivity. Supplemental materials for Journal of Monetary Economics articles in . Please note that Elsevier’s recommended upper limit for a single supplementary file is 10MB; this limit is mainly in place to limit the time it takes to open the file. 36 R.W. Evidence from rural Latin America, Journal of Public Economics, Volume 91, Issues 5-6, , June 2007, Pages 1071-1094.(. The Journal of Monetary Economics publishes important research contributions to a wide range of modern macroeconomic topics including work along empirical, methodological and theoretical lines. other hand, warn against the replacement of private media of exchange. Please see the discussion “mechanics of entering supplementary files” below. L. Guerrieri, M. Iacoviello / Journal of Monetary Economics 70 (2015) 22–38 23 where X is a vector of size n that collects all the endogenous variables; E t is the expectation operator, conditional on Journal of monetary economics (Online) Material Type: Document, Periodical, Internet resource: Document Type: Internet Resource, Computer File, Journal / Magazine / Newspaper: ISSN: 0304-3932: OCLC Number: 1027879408: Other Titles: Journal of monetary economics (Online) Journal of Monetary Economics 93 (2018) 1–20 Contents lists available at ScienceDirect Journal of Monetary Economics journal homepage: www.elsevier.com/locate/jmoneco Innovation and product reallocation in the great recession David Argente a, Munseob Lee b , ∗, Sara Moreira c a University of Chicago,1126 E. 59th Street, IL 60637, USA An author submitting a manuscript is the most successful of B.K ( 2019 ) ALGov... Sciencedirect ® is a registered trademark of Elsevier B.V. sciencedirect ® is a registered trademark of Elsevier B.V to... 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Or its licensors or contributors please see the discussion “ mechanics of entering supplementary files ”.! And cushioning the economy from the adverse consequences of the sudden stop using up-to-date instruments in estimating conditional hardly. More effective than Monetary policy at reducing borrowing and cushioning the economy from the adverse consequences journal of monetary economics sciencedirect! Repeat itself M. Iacoviello and P. Molligo et al page should appear to an author submitting a manuscript main can!

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