123-141. Browse our economics titles below, which publish contemporary research on a range of topics. 4.4 CiteScore. We conduct a preliminary empirical investigation into the effect of taxes on economic growth. As long as convertibility of bank notes into specie was maintained, there was no systematic relation of government spending to monetary growth. These implications are tested using annual U.S. data from the period 1914 to 1986. The impact factor (IF) 2018 of Journal of Monetary Economics In addition, we present evidence on the monetary transmission mechanism. 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. Impact Factor: 0.952 â¹ 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. This paper examines an hypothesis of Svensson (1994) (Journal of Monetary Economics 33, 157â199) 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. xii + 116, $12.50, Testing the positive theory of government finance vol. Menu. ix + 209, [UK pound]17.50. 4.4 CiteScore. Frowen, A.S. Courakis and M.H. Journal of Monetary Economics is a journal covering the technologies/fields/categories related to Economics and Econometrics (Q1); Finance (Q1). Journal of Economic Integration is indexed by ESCI, Scopus, RePEc, SSRN, JSTOR, EBSCO, Proquest, Cabell, KISS, KCI, DOI/CrossRef, and Google Scholar. 2.963 Impact Factor. Journal Impact 2018 di Journal of Monetary Economics è 2.820 (Ultimi dati nel 2019). Submit your article Guide for Authors. Journal information Managing Editor. (2) The impact of the new fiscal policy was insignificant compared to the effects of monetary measures and international developments. The Journal Impact 2019 of Journal of Monetary Economics is 2.820, which is just updated in 2020.The Journal Impact measures the average number of citations received in a particular year (2019) by papers published in the journal during the two preceding years (2017-2018). Barro, R.: Reputation in a Model of Monetary Policy with Incomplete Information. Utilizing Zellner-Palm transfer functions it is shown that a significant reduction in the short-run inflation-output tradeoff is associated with an increase in the variance of the unanticipated price level. Middleton medal for the best article published in the SAJE, from December 2017 to September 2018, to Kevin S Nell for his paper entitled, 'Reâexamining the role of structural change and nonlinearities in a Phillips curve model for South Africa'. Expectations of monetary growth are assumed to be Muth-rational. The overall rank of Journal of Monetary Economics is 153. Data provided are for informational purposes only. The estimates suggest permanent growth effects of R&D and human capital. The strong interest in monetary analysis has been increasingly matched in recent years by the growing attention to the working and structure of financial institutions. In this paper I examine the effects of these changes on interest rates, the quantity of money, the price level, and budget deficits. ISSN 0304-3932. xii + 172, $20.00, Primitive and modern money: An interdisciplinary approach : Jacques Melitz, (Addison-Wesley, Reading, Mass., 1974) 177 pp., $3.50, One Monetary Policy and 18 Central Bankers: The European Monetary Policy as a Game of Strategic Delegation, The real rate of interest from 1800-1990 : A study of the U.S. and the U.K, Histoire monetaire de la France, 1800-1980 : Michele Saint Marc (Presses Universitaire de France, Paris, 1983) pp. Submit your article. View aims and scope. We examine how the evolution of the financial system in Italy and policy shifts have affected the behavior of the long-run demand for money, and present tests of structural stability. Replacing the median voter mechanism with a less restrictive âweighted mean mechanismâ, it is shown that strategic delegation can lead to a surprising degree of central bank inflation aversion. Comparing it with the others, the ECB shows a superior performance, committing almost always fewer errors. This paper reports empirical evidence on the relation between government budget deficits and the growth of high-powered money in the United States. This list provides a simple impact factor, computing a ratio of the number of citations by â¦ 4.4 CiteScore. This journal has an h-index of 112. Submit your article. This association explains the main increases in the ratio of the public debt to GNP, as well as the decreases that typically occurred during peacetime. Using data for the OECD countries in the period 1870â2006 it is shown that growth has been predominantly driven by demographics and TFP growth. select article Editorial Board. We find that lowering taxes significantly raises economic growth and that changing the tax rate schedule also has significant effects on economic growth. Journal of Monetary Economics. Springer This high inflation is surprising initially, but subsequently becomes anticipated. 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. This paper studies whether the advent of floating exchange rates served to insulate Switzerland from economic shocks of foreign origin. Receive an update when the latest issues in this journal are published. 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. First, tax and seigniorage revenue should be cointegrated. More than half of this is due to reductions in expected future, rather than contemporaneous, holding returns on government debt. An International Standard Serial Number (ISSN) is a unique code of 8 digits. Impact Factor: 2.963 â¹ 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. Realignment Expectations and the US Dollar, 1890-1897: Was there a 'Peso Problem'? Search in this journal. High-powered money growth appears to be positively related to war spending during periods when such spending is a substantial fraction of GNP. 4.4 CiteScore. 1979) pp. 1, August 1990, pp. 63.63. ... Rules-based monetary policy and the threat of indeterminacy when trend inflation is â¦ 4.4 CiteScore. SJR acts as an alternative to the Journal Impact Factor (or an average number of citations received in last 2 years). is 2.82, which is computed in 2019 as per it's definition. This paper examines the stability of the demand for money in Italy using a newly extended data set for the period 1861 - 1996. 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. Submit your article Guide for Authors. As temporal risk aversion increases, the equilibrium interest rate decreases and the equity premium increases. View editorial board. expectations were persistently biased. Statistical analysis suggests that banks fully ??? Submit your article Guide for Authors. 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. Modern macroeconomic theory : Jean-Paul Fitoussi, ed., (Basil Blackwell, Oxford, 1983) pp. Sign in to set up alerts. Articles & Issues. Although knowledge can be owned and sold, its equilibrium price is below its value to future production, implying that the equilibrium suffers from a Paretononoptimal underaccumulation of knowledge. A transactions-precautionary model of demand for international reserves is developed and tested against Canadian data. Visit the official website of the journal/conference for the call for paper, submission guidelines, notification date, and submission deadlines. Miller, eds., West Germany (Surrey University Press, London, 1977) pp. 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. Supports open access. Similarly, the main interplay between temporary government spending and inflation occurred during the periods of suspension. This finding supports the âThe Twin Sister Hypothesisâ and the perception of the European Central Bank implementing the policy of the Bundesbank rather than a more inflationary monetary policy. A characterization of the individual bank as a profit maximizing firm is used to derive a âportfolio-balanceâ model of the money supply mechanism. Elsevier 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. In the equilibrium the policymaker of type 1 delivers surprisingly low inflation â with corresponding costs to the economy â over an extended interval.