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jme-identification-strategy

Use when the identification of a monetary or macro shock (or a structural mechanism) is the bottleneck for a Journal of Monetary Economics (JME) manuscript — high-frequency surprises, narrative shocks, proxy/SVAR, local projections, sign restrictions, and model-based identification. Stress-tests the design before exhibits are drafted.

Journal-of-Monetary-Economics-Skills/skills/jme-identification-strategy/SKILL.md

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# Identification Strategy (jme-identification-strategy)

## When to trigger

- The "monetary shock" is a raw policy-rate change with no exogeneity argument
- A SVAR uses a recursive ordering that referees will dispute
- High-frequency surprises are not separated from the Fed "information effect"
- A DSGE mechanism is asserted but not identified from the data/moments
- You are unsure the design clears the JME bar for a credible macro claim

## The JME identification bar

JME is **monetary economics and macroeconomics**, so "identification" means isolating an exogenous **shock** or pinning down a **structural mechanism**, not a micro treatment effect. With **single anonymized review** and **at least two specialist referees**, the identifying assumption must be legible and defended in the registers macroeconomists expect. The credibility ladder the field implicitly applies (strong → weaker):
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