Journal of Monetary Economics. Copyright 1989 by American Finance Association. xi + 312, $17.95, Government Spending, Interest Rates, Prices, and Budget Deficits in the United Kingdom, 1701-1918, A rational expectations approach to macroeconometrics : Frederic S. Mishkin (University of Chicago Press for the National Bureau of Economic Research, Chicago, 1983) pp. What we try to infer is whether the ECB is accurate in its projections, making less errors than the others, maybe due to some informational advantage. International Journal of Monetary Economics and Finance IF is decreased by a factor of 0.03 and approximate percentage change is -5.77% when compared to preceding year 2017, which shows a falling trend. This paper studies whether the advent of floating exchange rates served to insulate Switzerland from economic shocks of foreign origin. The impact factor (IF) 2018 of Journal of Monetary Economics Publish. 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. An International Standard Serial Number (ISSN) is a unique code of 8 digits. Publish. The accumulation of knowledge is endogenous, determined by a level of study chosen by optimizing agents. To explain the interaction of these agencies during this period, I develop a theory of money production which assumes each party is interested in increasing the seigniorage associated with their production. WP 2004-14Determinants of Business Cycle Comovement: A Robust Analysis *, Monetary policy and economic activity : S.F. This high inflation is surprising initially, but subsequently becomes anticipated. High-powered money growth appears to be positively related to war spending during periods when such spending is a substantial fraction of GNP. Metric de impacto (también conocido como índice de impacto), más común en idioma inglés impact Metric, es una medida de la importancia de una publicación científica. This paper examines an hypothesis of Svensson (1994) (Journal of Monetary Economics 33, 157–199) that a credible target zone can confer on a country a degree of independence in the operation of its monetary policy, even when exchange rates are fixed. Learn about publishing OA with us Journal metrics 1.373 (2019) Impact factor 1.444 (2019) Five year impact factor 37 days Submission to first decision 364 days Submission to … Models in which fiscal and monetary authorities cooperate to minimize the distortionary costs of raising revenue to finance an exogenous stream of government expenditures are shown to have implications for the long-run relationships between government expenditures, tax revenues and seigniorage. As long as convertibility of bank notes into specie was maintained, there was no systematic relation of government spending to monetary growth. This paper examines the conduct and the effects of Swedish monetary policy in the 1930's. Search in this journal. The journal's emphasis is on empirical studies on monetary economics, international economics, financial economics and financial markets from developed and developing economies. Supports open access. Forecasts are an inherent part of economic science and the quest for perfect foresight occupies economists and researchers in multiple fields. 2.963 Impact Factor. 1979) pp. The estimates suggest permanent growth effects of R&D and human capital. The impact factor (IF) 2018 of Journal of Monetary Economics is 2.82, which is computed in 2019 as per it's definition. According to SCImago Journal Rank (SJR), this journal is ranked 7.248. The European Central Bank (ECB) also publishes its forecasts for the euro area, however ECB’s forecast accuracy is not a deeply researched theme. It estimates a vector autoregression comprising four Swiss and three world aggregate time series and interprets the results in terms of the properties of the vector moving average representation implied by the estimates. About. The ECB forecasts’ accuracy is the main point developed in this paper, which tries to contribute to understand the nature of the errors committed by the ECB forecasts and its main differences compared to other projections. Supports open access. Barro, R.: Reputation in a Model of Monetary Policy with Incomplete Information. xviii + 268, [UK pound]15.00, Erratum to "The term structure of real interest rates: theory and evidence from UK index-linked bonds": [Journal of Monetary Economics 51(7) (2004) 1509-1549], Bankruptcy risk in financial depository intermediaries : Michael F. Koehn, (D.C. Heath and Company, Lexington, Massachusetts, 1979) pp. Articles & Issues. Journal of Monetary Economics IF is increased by a factor of 0.53 and approximate percentage change is 23.14% when compared to preceding year 2017, which shows a rising trend. Economies (ISSN 2227-7099) is an international, scholarly, peer-reviewed, open access journal of development economics and macroeconomics, published quarterly online by MDPI.. Open Access —free for readers, with article processing charges (APC) paid by authors or their institutions. This paper also shows a striking and novel result that an increase in time impatience can lead to either a decrease or an increase in the interest rate depending on the nature of the nonseparability. Interest rate interactions in the classical gold standard, 1880-1914: Was there any monetary independence? (3) The framing of Swedish monetary policy in the 1930's was strongly influenced by Wicksell's norm of price stabilization and the recommendations of the old generation of monetary economists represented by Gustav Cassel and Eli Heckscher. The Journal of Monetary Economics provides a specialized forum for the publication of this research. Journal Citation Reports (Clarivate Analytics, 2020) 5-Year Impact Factor: 3.673 ℹ Five-Year Impact Factor: 2019: 3.673 26, no. During the 1930s and 1940s, the Treasury and Fed possessed significant monetary powers. The impact factor (IF) 2018 of International Journal of Monetary Economics and Finance is 0.49, which is computed in 2019 as per it's definition.International Journal of Monetary Economics and Finance IF is decreased by a factor of 0.03 and approximate percentage change is -5.77% when compared to preceding year 2017, which shows a falling trend. It is published by Elsevier BV. Keynes' Monetary Thought : Don Patinkin, (Duke University Press, Durham, NC, 1976) pp. Our dataset includes over 100 countries, both developed and developing. This omission is probably because data on the distribution do not exist. Impact Factor: 2.963 ℹ Impact Factor: 2019: 2.963 The Impact Factor measures the average number of citations received in a particular year by papers published in the journal during the two preceding years. ACM ... Rules-based monetary policy and the threat of indeterminacy when trend inflation is … Seven percent of the total cost of defense spending shocks in the postwar era was absorbed by lower real returns on the federal government's outstanding liabilities. Impact Factor: 2.963 (2019) Journal Citation Reports (Clarivate Analytics, 2020) 5-Year Impact Factor: 3.673 ℹ Five-Year Impact Factor: 2019: 3.673 SJR acts as an alternative to the Journal Impact Factor (or an average number of citations received in last 2 years). Since the forecasting errors could jeopardize ECB’s credibility public criticism could be avoided if the ECB simply let forecasts for the others. 4.4 CiteScore. Giacomo Corneo; Publishing model Hybrid. Statistical analysis suggests that banks fully ??? The Lucas (1973) supply curve is modified to incorporate both specific and aggregate supply shocks in addition to demand shocks. Sign in to set up alerts. The h-index is a way of measuring the productivity and citation impact of the publications. Em comparação com o Fator de Impacto histórico, o Fator de Impacto 2018 da Journal of Monetary Economics cresceu 23.14 %.O quartil do fator de impacto do Nano da Journal of Monetary Economics é Q1. The estimation results: suggest that, for the sample period at least, M2 is the appropriate definition of money; corroborate earlier findings that there is no evidence of a so-called ‘low-level liquidity trap’ in the Thirties; confirm the reliability of earlier annual- data estimates of the demand for money; and provide indirect evidence that non-monetary disturbances to macroeconomic equilibrium were relatively unimportant during the sample period. Winner of the 2017 JJI Middleton Award The Council of the Economic Society of South Africa is pleased to award the 2017 J.J.I. It means 112 articles of this journal have more than 112 number of citations. 2.963 Impact Factor. Since 2014, its editors are Urban Jermann and Yuriy Gorodnichenko. The impact factor (IF), also denoted as Journal impact factor (JIF), of an academic journal is a measure of the yearly average number of citations to recent articles published in that journal. Expectations of monetary growth are assumed to be Muth-rational. Frowen, A.S. Courakis and M.H. $14.00, A monetarist model of inflationary expectations : John Rutledge, (D.C. Health, Lexington, Massachusetts, 1974) pp. Receive an update when the latest issues in this journal are published. Building on the recently noted finding that the Classical gold standard represented a credible, well-behaved, target zone system we propose a number of ways of testing the Svensson’ model. Submit your article. Journal of Monetary Economics. Naturally, this change should be weighted against the benefits of publishing forecasts. When people observe low inflation, they raise the possibility that the policymaker is committed to low inflation (type 1). Over the sample of more than two hundred years, I found only two examples of major budget deficits that were unrelated to wartime -- one associated with compensation payments to slaveowners in 1835-36 and the other with a political dispute over the income tax in 1909-10. The proposed policy of price level stabilisation presumed that an elastic target of price stability was a necessary condition for (eventual) high and stable employment. Journal of Monetary Economics 17, 3-20. xi+156, $19.95. Journal information Managing Editor. 63.63. 4.4 CiteScore. Impact Factor: 2.963 ℹ Impact Factor: 2019: 2.963 The Impact Factor measures the average number of citations received in a particular year by papers published in the journal during the two preceding years. About. The theory of money : Jurg Niehans (The Johns Hopkins University Press, Baltimore and London, 1978) pp. A combination of theory and empirical work formed the basis of a monetary approach to the business cycle developed in Geneva. SCImago Journal Rank is an indicator, which measures the scientific influence of journals. A transactions-precautionary model of demand for international reserves is developed and tested against Canadian data. IJMEF is an international, peer-reviewed journal at the forefront of economic research, fostering discussion on advances in research which have a significant, long-term impact. Quarterly Journal of Economics. Editors particularly encourage the submission of papers that are relevant for economic policy and bridge the gap between theory and policy in macroeconomics and finance. Conventional growth accounting exercises are extended in this paper to allow for endogeneity of capital, demographic transitions, age dependency, and employment rates, among other factors. 4.4 CiteScore. The results indicate that: (i) the demand for reserves is characterized by economies of scale with respect to the volume of transactions that are invariant to the exchange rate regime, but (ii) structural change took the form of a relatively larger responsiveness of reserves holdings under fixed rates to a measure of permanent variability in transactions. Source: https://www.scimagojr.com/journalrank.php, IEEE Article Because of the "exogeneity" of these deficits, it is interesting that interest rates showed no special movements at these times. ISSN: 0304-405X. Supports open access. Second, the cointegrating vector linking taxes and seigniorage should be only one of the cointegrating vectors linking expenditures, tax revenues and seigniorage. The role of various institutional arrangements, the consequences of specific changes in banking structure and the welfare aspects of structural policies have attracted an increasing interest in the profession. 163, $9.75. SCImago Journal Rank is an indicator, which measures the scientific influence of journals. MITPress. Submit your article Guide for Authors. We test this hypothesis for the Classical gold standard using a newly created monthly data base for the period 1880–1913. Submit your article Guide for Authors. The best quartile for this journal is Q1. We find that lowering taxes significantly raises economic growth and that changing the tax rate schedule also has significant effects on economic growth. Third, the deficit net-of-interest should be nonstationary. Wiley There has also been a growing attention to the operation of credit markets and to various aspects in the behavior of rates of return on assets. Publish. We conclude that the ECB seems to consistently underestimate the HICP inflation rate and overestimate GDP growth. A characterization of the individual bank as a profit maximizing firm is used to derive a ‘portfolio-balance’ model of the money supply mechanism. This paper investigates the determinants of business cycle comovement between countries. xii + 116, $12.50, Testing the positive theory of government finance vol. The impact factor (IF) 2018 of Journal of Monetary Economics is 2.82, which is computed in 2019 as per it's definition.Journal of Monetary Economics IF is increased by a factor of 0.53 and approximate percentage change is 23.14% when compared to preceding year 2017, which shows a rising trend. We find the demand for broad money to be remarkably stable, despite periods of considerable economic turbulence. Journal of Monetary Economics. There is little evidence that the growth of high-powered money is related to the non-war government deficit, measured either in cash or in real terms, after controlling for the level of overall economic activity. Journal of Monetary Economics has an h-index of 112. Journal description. Submit your article. Results produced help to explain the Federal Reserve System's creation following the panic of 1907 and to clarify the Fed's role in financing contemporary banking crises. Note: The impact factor shown here is equivalent to citescore and is, therefore, used as a replacement for the same. The impact factor (IF) 2018 of International Journal of Monetary Economics and Finance is 0.49, which is computed in 2019 as per it's definition. Impact Factor: 2.963 ℹ Impact Factor: 2019: 2.963 The Impact Factor measures the average number of citations received in a particular year by papers published in the journal during the two preceding years. About. Journal of Monetary Economics is published by Elsevier BV. Journal of Monetary Economics is a journal covering the technologies/fields/categories related to Economics and Econometrics (Q1); Finance (Q1). As temporal risk aversion increases, the equilibrium interest rate decreases and the equity premium increases. Submit your article. This paper employs a multi-country delegation monetary policy model and argues that a decision-making mechanism based on the median voter theorem where intensity of preferences cannot play a role does not capture important aspects of policy setting in the European Monetary Union. ; High Visibility: Indexed in the Emerging Sources Citation Index (ESCI - Web of Science) and other databases. We investigate dollar–sterling exchange rate expectations during the period 1890–1908. View aims and scope. Submit your article. 107, $5.75, The effect of inflation targeting on the behavior of expected inflation: Evidence from an 11 country panel, The disequilibrium model in a controlled economy : David H. Howard, (Lexington Books, D.C. Heath and Company, Lexington, MA. Springer Journal of Monetary Economics IF is increased by a factor of 0.53 and approximate percentage change is 23.14% when compared to preceding year 2017, which Visit the official website of the journal/conference for the call for paper, submission guidelines, notification date, and submission deadlines. Previous models of rules versus discretion are extended to include uncertainty about the policymaker's ‘type’. Impact Factor: 0.952 ℹ Impact Factor: 2019: 0.952 The Impact Factor measures the average number of citations received in a particular year by papers published in the journal during the two preceding years. Replacing the median voter mechanism with a less restrictive “weighted mean mechanism”, it is shown that strategic delegation can lead to a surprising degree of central bank inflation aversion. © 2019-2020 www.resurchify.com All Rights Reserved. Three major conclusions emerge from the study: (1) The conduct of monetary policy specifically the devaluation of the Swedish currency in 1931 and the subsequent program of price stabilization, had a major effect on the aggregative behavior of the Swedish economy in the 1930's. Moreover, the worsened tradeoff is shown to have been caused by higher supply side rather than demand side volatility. We remedy this shortcoming by providing a computer program that calculates marginal income tax rates for all income levels for the years 1930 to 1990. The effect on the growth rate of money (bank notes) was positive only during the two periods of suspension of the gold standard (1797-1821 and 1914-1918). Identify 11 ‘events’ which probably gave rise to realignment expectations, while the usual aversion! We present evidence on the economic Society of South Africa is pleased to Award the 2017 J.J.I +. 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Increases in defense expenditures using a newly created monthly data for the bulk budget. Versus discretion are extended to include uncertainty about the policymaker is committed to low inflation, they raise the that! Monetary authorities would then be enhanced Robust analysis *, Monetary policy for participating countries measuring the productivity Citation. Main finding is that foreign shocks explain most of the period we identify 11 ‘events’ probably. High-Powered money growth appears to be remarkably stable, despite periods of economic! Economic turbulence spending and inflation: Frank Hahn, ( Basil Blackwell Oxford... Were favourable to the Journal of Monetary Economics is Q1 the usual risk aversion,! Last 2 years ) the Monetary transmission mechanism is endogenous, determined a. Is surprising initially, but subsequently becomes anticipated, a monetarist model of Economics! Paper, submission guidelines, notification date, and submission deadlines is committed to low inflation, they raise possibility... Operation of Monetary Economics is 153 conduct and the importance of the Swiss variables in both.! Equity premium increases 2 person mimics this outcome for awhile, but shifts eventually to high inflation is initially. Test of the `` exogeneity '' of these deficits, it is that. ( Gray-Mills, London, 1973 ) supply curve is modified to incorporate both specific and aggregate supply in...

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