| name | jme-review-process |
| description | Use when you need to understand how the Journal of Monetary Economics (JME) review process actually works — single anonymized (single-blind) review with at least two reviewers, the distinctive "up or out" first-revision rule, the ~50% publication-likelihood threshold for an R&R, suggested referees, and reconsideration. |
Review Process (jme-review-process)
When to trigger
- You need to set expectations for what happens after submission
- You are unsure what "up or out" means for your revision strategy
- You want to know whether to suggest referees or request exclusions
- A decision arrived and you need to interpret it
How JME review works
- Single anonymized (single-blind) review: reviewers know the author identities; authors do not know the reviewers. Plan your framing and self-citation accordingly — there is no point anonymizing the manuscript.
- At least two reviewers: suitable submissions are typically sent to a minimum of two reviewers.
- Editors: the journal is led by two co-Editors-in-Chief, S. Borağan Aruoba (University of Maryland) and Eric Swanson (University of California, Irvine) (Aruoba appointed as one of the two Editors-in-Chief effective January 1, 2022); neither outranks the other.
- Suggested / excluded referees: in the cover letter, authors may suggest up to five referees and request that some not be used.
- Reconsideration: a formal reconsideration of a rejection is costly, rare, and unlikely to reverse the decision — do not bank on it.
The distinctive "up or out" funnel
JME's process is unusual and worth internalizing:
- A first-round decision is reject or revise-and-resubmit — there is no slow drip of multiple R&R rounds.
- Editors invite a resubmission only when they judge at least a 50% likelihood of ultimate publication. An R&R is therefore a strong (though not guaranteed) signal.
- The resubmission is "up or out": it must result in acceptance or rejection — there is no second round of revise-and-resubmit. Your one revision has to fully resolve the referees' concerns.
This funnel changes strategy: you cannot count on iterating across many rounds, so the first revision must be comprehensive, and at submission your contribution must be sharp enough to clear the 50% bar.
Fee mechanics tied to the process
- A US$350 submission fee (US$200 for full-time PhD students) is charged up front; a manuscript is only considered after payment.
- No fee is charged for revised/resubmitted manuscripts.
- If a paper is desk-returned without full review (within roughly three months), one half of the fee is refunded.
Checklist
Review-risk pass for Journal of Monetary Economics
Use this as a second-pass capability check. First lock the main macro object, the identifying variation, and the policy-relevant counterfactual; then test whether the manuscript addresses macro and monetary economists who expect the shock, mechanism, and policy margin to be visible early.
- Primary move: Turn likely reviewer objections into a ledger with response evidence, manuscript location, and the decision-maker who must be convinced first.
- Decision ledger: return
claim / evidence / blocker / next edit rows so the next pass can patch the manuscript directly.
- Neighbor test: compare against JIE for open-economy trade/finance emphasis, RED for dynamic macro theory, AEJ Macro for broader field positioning; if the neighboring outlet has the stronger audience claim, recommend re-routing before polishing.
- Verification floor: before submission-ready advice, re-open
resources/official-source-map.md for volatile rules and name the one unresolved fact that could change the recommendation.
Output format
【Review model】single anonymized (single-blind), ≥2 reviewers
【Suggested/excluded referees】ready? Y/N
【Decision type】reject / R&R (R&R ⇒ ~50% likelihood)
【Revision rule】"up or out" — one revision, then accept or reject
【Next step】jme-submission (pre-submit) or jme-rebuttal (on R&R)
