Before you submit to Journal of Monetary Economics

The JME provides a publication outlet for high quality research in all areas of aggregate economics. Before you submit your manuscript to us for review, it is worthwhile thinking about the process at the level of the journal as a whole.

First, the JME receives about 400 manuscript per year at present and we can publish only about 60, so that the unconditional probability of publication is 15%.

Second, the JME’s policy is to minimize the length of time that an author faces to publication in two ways: (i) with quick reviews of manuscripts; and (ii) by holding down the total number of revisions that take place, particularly of manuscripts that will not ultimately be published in the journal.

The basic mechanics of the Journal are displayed in the figure below.

• We review about 80% of manuscripts only once, asking the author to submit the revision of his manuscript elsewhere.

• We request a revision of a submitted manuscript about 20% of the time, with an understanding among the editors that this requires at least a 50% chance of ultimate publication.

• While the average manuscript in the revise and resubmit branch has a conditional probability of about 75% (this would be the implication of a uniform distribution between 50% and 100%), we do try to allow a second round review of manuscripts – particularly those of junior authors – that have a lower probability, recognizing that some manuscripts will rejected on the second round of review.

• We continue the consideration of about 60 submitted manuscripts per year, with the intent of publishing these. However, this part of the review process requires a good deal of hard work from authors. The standard “Accept with major revisions required” decision on this branch means exactly that major work is required on the author’s part.

Implications for authors

To help the editors review your manuscript effectively and to give yourself the best odds of publication, you need to make sure that the initial submission is a strong one. It is suggested that you include the following items in a “check list” before submitting:

1. Make sure that the abstract of your paper and its introduction contain a very clear statement of the contribution of the paper to the literature: the importance of the potential contribution and your paper’s effectiveness in realizing this potential will be very important for the paper’s prospect at JME or any other journal

2. Make sure that your paper is written in a manner makes it as straightforward as possible for the referee, editor, and the JME audience to follow its logic. Ask a couple of colleagues to review the paper for you before you submit it. Ask your colleagues to let you know where the rough spots are, so that you can iron these out before publication.

3. Make sure that your paper is no more than 40 pages of text, references and footnotes in 12 point type and double spaced (footnotes and references can be single spaced). If the paper contains appendices, make sure that it is clearly indicated whether these are necessary for the main paper or whether they are provided for the referee’s benefit.

4. Make sure that the tables and figures are clearly produced, including captions or footnotes which define variables which appear in the paper. If you are using color in your figures, make sure that they are readable if printed in black and white (as this is what most referees will do).

5. Read the JME’s guide for referees on preparation of manuscript reviews. Think about your paper from that perspective: What would a reviewer need that you have not provided? What are potential reviewer questions that you should address before you submit?

6. After completing these prior items, prepare a letter to the editor (two pages maximum) detailing the contribution of your paper and placing it in the context of the literature. Feel free to recommend up to 10 potential referees (not including colleagues, students, advisors, …) and to ask that the manuscript not be refereed by some individuals (please briefly explain your reason for referee disqualification).

Submitting and tracking your manuscript

The JME makes use of the Elsevier Electronic Submission (EES) system. Using EES, you can submit your manuscript and track its progress.