Shouyong Shi
石寿永
Research Interests and Some Publications:
(for a complete list of publications and some pdf files, click on Publications and Papers)
Money/Macroeconomics:
• "Liquidity, Assets and Business Cycles," Journal of Monetary Economics 70 (2015), 116-132.
• "A Monetary Theory with Non-Degenerate Distributions," (with Guido Menzio and Amy Hongfei Sun), Journal of Economic Theory 148 (2013), 2266-2312.
• "Search for a Monetary Propagation Mechanism," Journal of Economic Theory 81 (1998), 314-352.
• "A Divisible Search Model of Fiat Money," Econometrica 65 (1997), 75-102.
• "Credit and Money in a Search Model with Divisible Commodities," Review of Economic Studies 63 (1996), 627-652.
• "Money and Prices: A Model of Search and Bargaining," Journal of Economic Theory 67 (1995), 467-496.
Macro/Labor Economics:
• "Efficient Search on the Job and the Business Cycle," (with Guido Menzio), Journal of Political Economy 119 (2011), 468-510.
• "An Equilibrium Theory of Learning, Search and Wages," (with Francisco M. Gonzalez), Econometrica 78 (2010), 509-537.
• "Directed Search for Equilibrium Wage-Tenure Contracts," Econometrica 77 (2009), 561-584.
• "A Directed Search Model of Inequality with Heterogeneous Skills and Skill-Biased Technology," Review of Economic Studies 69 (2002), 467-491.
Matching/Pricing and Markets:
• “Sequentially Mixed Search and Equilibrium Price Dispersion,” Journal of Economic Theory 213 (2023) 105735.
• "Should Buyers or Sellers Organize Trade in a Frictional Market?" (with Alain Delacroix), 2018, Quarterly Journal of Economics 133 (2018), 2171-2214.
• "Pricing and Signaling with Frictions," (with Alain Delacroix), Journal of Economic Theory 148 (2013), 1301-1332.
• "Pricing and Matching with Frictions," (with K. Burdett and R. Wright), Journal of Political Economy 109 (2001), 1060-1085.
• "Frictional Assignment. I. Efficiency," Journal of Economic Theory 98 (2001), 232-260.
Banking and Corporate Finance:
• "Signaling in the Internet Craze of Initial Public Offerings," (with Melanie Cao), Journal of Corporate Finance 12 (2006), 818-833.
• "Screening, Bidding, and the Loan Market Tightness," (with Melanie Cao), European Finance Review 5 (2001), 21-61 (Renamed Review of Finance).
International Economics:
• "Vehicle Currency," (with Michael B. Devereux), International Economic Review 54 (2013), 97-133.
• "A Fundamental Theory of Exchange Rates and Direct Currency Trades," (with Allen Head), Journal of Monetary Economics 50 (2003), 1555-1591.
• "Tariffs, Unemployment, and the Current Account: An Intertemporal Equilibrium Model," in: Money, Factor Mobility and Trade: Essays in Honor of Robert A. Mundell (pp467-504), 2001, edited by G. Calvo, R. Dornbusch and M. Obstfeld, MIT Press, Cambridge.
• "Capital Accumulation and the Current Account in a Two-Country Model," (with Michael B. Devereux), Journal of International Economics 30 (1991), 1-25.
Economic Growth and Learning:
• "Knowledge, Germs, and Output," Review of Economic Dynamics (forthcoming).
• "Innovation, Imitation, and Welfare-Improving Cycles," (with Patrick Francois), Journal of Economic Theory 85 (1999), 226-257.
• "Asymmetric Information, Credit Rationing, and Economic Growth," Canadian Journal of Economics 29 (1996), 665-687.
Public Finance:
• "Weakly Nonseparable Preferences and Distortionary Taxes in a Small Open Economy," International Economic Review 35 (1994), 411-428.
• "Labor Market Search and the Dynamic Effects of Taxes and Subsidies," (with Quan Wen), Journal of Monetary Economics 43 (1999), 457-495.
Environmental Economics:
• "Emission Taxes and Standards in a General Equilibrium with Productivity Dispersion and Abatement," (with Zhe Li), Macroeconomic Dynamics (forthcoming).
Bureaucracy, Corruption, Fashion and Habits:
• "A Model of Bureaucracy and Corruption," (with Ted Temzelides), International Economic Review 45 (2004), 873-908.
• "Fashion and Wealth Accumulation," Economic Theory 14 (1999), 439-461.
• "Habits and Time Preference," (with Larry G. Epstein), International Economic Review 34 (1993), 61-84.
Some Research Papers:
(click on Publications and Papers for links and more)
• "Endogenously Procyclical Liquidity, Capital Reallocation, and q," (with Melanie Cao), International Economic Review 64 (2023), 95-128.
• "Knowledge, Germs, and Output," Review of Economic Dynamics 48 (2023), 297-319. (Go to publications and papers for a link to Matlab codes)
• "Wealth Accumulation, On the Job Search and Inequality," (with Gaston Chaumont), Journal of Monetary Economics 128 (2022), 51-71.
• "Post-Match Investment and Dynamic Sorting between Capital and Labor," 2018.
• "Learning, On-the-Job Search and Wage-Tenure Contracts," (with Kevin Fawcett), 2018.
• "Efficient Investments, Job Dynamics and Frictional Dispersion," 2018.
• "Customer Relationship and Sales," Journal of Economic Theory 166 (2016), 483-516.
• "Long-Run Sectoral Reallocation, Job to Job Transitions, and Earnings Inequality: An Empirical Investigation," (with Florian Hoffmann and Anton Laptiev), 2016.
• "Burdett-Mortensen Model of On-the-Job Search with Two Sectors," (with Florian Hoffmann), Review of Economic Dynamics (2016).
• "Liquidity, Assets and Business Cycles," Journal of Monetary Economics (2015).
• "Emission Tax or Standard? The Role of Productivity Dispersion," (with Zhe Li), 2010.