Under Review or Revision
Financial Looting and Controls on Resident Outflows (with Bo Li and Hui Tong), submitted.
Banking on Technology (with Sheila Jiang and Gang Zhang), submitted.
A Housing Portfolio Channel of QE Transmission (with D. Boddin, D. te Kaat, C. Ma), Revised and Resubmitted, Journal of Money, Credit and Banking.
Work in Progress and Working Papers
Long-run UIP and Sovereign Risk (with S. Yagmur Toraman and G. Valente), manuscript.
Managing Financial Crises (previously Optimal Time-consistent Macroprudential Policy in Small Open Economies, with G. Benigno, E. Young, and A. Zaretski), manuscript.
China’s Increasing Global Financial Impact (with C. Ma and S. Zhou), manuscript, NBER ISOM.
Permanent Working Papers
Bank Regulation, Cost of Intermediation, and Productivity (with Gianni De Nicolo’, Andrea Presbitero, and Gang Zhang), previously circulated as “Technology Adoption, Market Structure, and the Cost of Bank Intermediation.
The Great Depression and the Great Recession: A Quantitative Comparison (with A. Foerster, S. Noh, and C. Otrok).
COVID-19 Impact on the Financial Stability of Hospitals (with Ge Bai, Phil Phan, Luis Quintero, and Xian Sun), Revise and Resubmit, Journal of Finacial Stability.
Monetary and Macro-Prudential Policies: An Integrated Analysis (with G. Benigno, H. Chen, C. Otrok, and E. R. Young), paper prepared for the 2011 IMF ARC Conference.
Oil Price Dynamics and External Portfolio Adjustment (with M. Devereux and A. Sutherland), manuscript.
Monetary Rules for Emerging Market Economies (with Fabio Ghironi), Working Paper, 2002.