I've put in a lot of time over the years as an Editor, Associate Editor, or Editorial Board member, for a number of economics and statistics journals, ranging from Journal of Econometrics and Econometric Theory, to Journal of International Trade & Economic Development. I've also refereed more papers than care to think about.
Students, rightly, are eager to get the scoop on how to get their work published in good journals. They often talk to me about this. My suggestion would be to read, and follow the advice given by Marc Bellemare in his talk, "How to Publish Academic Papers".
Just do it!
(HT to David Stern for unwittingly making me aware of Marc's talk,)