Academic research on topics related to Pacific Basin economies by SF Fed economists and affiliates intended for publication in scholarly journals.
Inflation Expectations, Liquidity Premia and Global Spillovers in Japanese Bond Markets
Jens H. E. Christensen and Mark M. Spiegel
A Post-Pandemic New Normal for Interest Rates in Emerging Bond Markets? Evidence from Chile
Luis Ceballos, Jens H. E. Christensen, Damian Romero
Understanding Persistent ZLB: Theory and Assessment
Pablo Cuba-Borda, Sanjay R. Singh
Targeted Reserve Requirements for Macroeconomic Stabilization
Zheng Liu, Mark M. Spiegel, Jingyi Zhang
In Search of Dominant Drivers of the Real Exchange Rate
Wataru Miyamoto, Thuy Lan Nguyen, Hyunseung Oh
Central Bank Credibility During COVID-19: Evidence from Japan
Jens H. E Christensen, Mark M. Spiegel
Bank Risk-Taking and Monetary Policy Transmission: Evidence from China
Xiaoming Li, Zheng Liu, Yuchao Peng, Zhiwei Xu
Capital Controls and Income Inequality
Zheng Liu, Mark M. Spiegel, Jingyi Zhang
Complexity of Global Banks and Their Foreign Operation in Hong Kong
Simon H. Kwan, Kelvin Ho, Edward Tan
Is China Fudging Its GDP Figures? Evidence from Trading Partner Data
John G. Fernald, Eric Hsu, Mark M. Spiegel
Assessing Abenomics: Evidence from Inflation-Indexed Japanese Government Bonds
Jens H. E. Christensen, Mark M. Spiegel
Optimal Capital Account Liberalization in China
Zheng Liu, Mark M. Spiegel, Jingyi Zhang
Interest-Rate Liberalization and Capital Misallocations
Zheng Liu, Pengfei Wang, Zhiwei Xu
Reserve Requirements and Optimal Chinese Stabilization Policy
Chun Chang, Zheng Liu, Mark M. Spiegel, Jingyi Zhang
The Weak Job Recovery in a Macro Model of Search and Recruiting Intensity
Sylvain Leduc, Zheng Liu
Is China Fudging its Figures? Evidence from Trading Partner Data
John G. Fernald, Eric Hsu, Mark M. Spiegel
The International Transmission of Shocks through the Lens of Foreign Banks in Hong Kong
Simon H. Kwan, Kelvin Ho, Cho-hoi Hui, Eric T.C. Wong
Monetary Policy Effectiveness in China: Evidence from a FAVAR Model
John G. Fernald, Mark M. Spiegel, Eric T. Swanson
Breaking the “Iron Rice Bowl:” Evidence of Precautionary Savings from the Chinese State-Owned Enterprises Reform
Hui He, Feng Huang, Zheng Liu, Dongming Zhu
China’s Financial Linkages with Asia and the Global Financial Crisis
Reuven Glick, Michael Hutchison
Persistence of Regional Inequality in China
Christopher Candelaria, Mary C. Daly, Galina Hale
Capital Controls and Optimal Chinese Monetary Policy
Chun Chang, Zheng Liu, Mark M. Spiegel
Cross-Country Causes and Consequences of the Crisis: An Update
Andrew K. Rose, Mark M. Spiegel
If You Try, You’ll Get By: Chinese Private Firms’ Efficiency Gains from Overcoming Financial Constraints
Galina Hale, Cheryl Long
Asset Class Diversification and Delegation of Responsibilities between Central Banks and Sovereign Wealth Funds
Joshua Aizenman, Reuven Glick
China’s Monetary Policy and the Exchange Rate
Aaron Mehrotra, Jose R. Sanchez-Fung
Growth Accounting with Misallocation: Or, Doing Less with More in Singapore
John G. Fernald, Brent Neiman
Bond Currency Denomination and the Yen Carry Trade
Christopher A. Candelaria, Jose A. Lopez, Mark M. Spiegel
Cross-Country Causes and Consequences of the 2008 Crisis: International Linkages and American Exposure
Andrew K. Rose, Mark M. Spiegel
Cross-Country Causes and Consequences of the 2008 Crisis: Early Warning
Andrew K. Rose, Mark M. Spiegel
Foreign Entry into Underwriting Services: Evidence from Japan’s “Big Bang” Deregulation
Mark M. Spiegel, Jose A. Lopez
Beyond Kuznets: Persistent Regional Inequality in China
Christopher Candelaria, Mary C. Daly, Galina Hale