Reading Group

IMIM-Reading Group Schedule (subject to changes)

 

Click here to download the notes by Charles Engel !

Click here to download the notes by Zhengyang Jiang !


December 2023


Zoom ID: 834 6211 4298

Join Zoom Meeting: https://txstate.zoom.us/j/83462114298

 

Yi Zhang (HKUST-GZ): Jiang, Zhengyang, Arvind Krishnamurthy, and Hanno Lustig. "Foreign safe asset demand and the dollar exchange rate." The Journal of Finance 76, no. 3 (2021): 1049-1089.

Ruizhi Dong(Nankai): Gabaix, Xavier, and Matteo Maggiori. "International liquidity and exchange rate dynamics." The Quarterly Journal of Economics 130, no. 3 (2015): 1369-1420.

 

Ren Zhang (TXstate): Valchev, Rosen. "Bond convenience yields and exchange rate dynamics." American Economic Journal: Macroeconomics 12, no. 2 (2020): 124-166.

Yi Zhang (HKUST-GZ): Jiang, Zhengyang, Arvind Krishnamurthy, and Hanno Lustig. Dollar safety and the global financial cycle. Review of Economics Studies, forthcoming.

 

Ren Zhang (TX state): Chahrour, Ryan, Vito Cormun, Pierre De Leo, Pablo A. Guerrón-Quintana, and Rosen Valchev. Exchange Rate Disconnect Redux. Boston College, 2023.

Kai Zhao (Jinan): (presentation in Chinese):   Gopinath, Gita, Emine Boz, Camila Casas, Federico J. Díez, Pierre-Olivier Gourinchas, and Mikkel Plagborg-Møller. "Dominant currency paradigm." American Economic Review110, no. 3 (2020): 677-719.

 

Ren Zhang (TX state): Itskhoki, Oleg, and Dmitry Mukhin. "Exchange rate disconnect in general equilibrium." Journal of Political Economy 129, no. 8 (2021): 2183-2232.

Kai Zhao (Jinan): (presentation in Chinese) Gopinath, Gita, and Oleg Itskhoki. "Dominant currency paradigm: A review." Handbook of International Economics 6 (2022): 45-90.

 

Ren Zhang (TX state): Devereux, Michael B., and Steve Pak Yeung Wu. Foreign reserves management and original sin. No. w30418. National Bureau of Economic Research, 2022.


January 2024


Zoom ID: 834 6211 4298

Join Zoom Meeting: https://txstate.zoom.us/j/83462114298

 

Taiye Chen (American U): Monacelli, Tommaso. "Into the Mussa puzzle: monetary policy regimes and the real exchange rate in a small open economy." Journal of International Economics 62, no. 1 (2004): 191-217.

Jianqi Huang (CUFE): (presentation in Chinese) Fang, Xiang, and Yang Liu. "Volatility, intermediaries, and exchange rates." Journal of Financial Economics 141, no. 1 (2021): 217-233.

 

Tian Xia (Nankai):  Maggiori, Matteo. "Financial intermediation, international risk sharing, and reserve currencies." American Economic Review107, no. 10 (2017): 3038-3071.

Ren Zhang (TX state) Engel, Charles, and Steve Pak Yeung Wu. "Liquidity and exchange rates: An empirical investigation." The Review of Economic Studies 90, no. 5 (2023): 2395-2438.

 

Zhihan Yu (Peking): Devereux, Michael B., Charles Engel, and Steve Pak Yeung Wu. Collateral Advantage: Exchange Rates, Capital Flows and Global Cycles. No. w31164. National Bureau of Economic Research, 2023. 

Houqi Shen (CASS): (presentation in Chinese Farhi, Emmanuel, and Iván Werning. "A theory of macroprudential policies in the presence of nominal rigidities." Econometrica 84, no. 5 (2016): 1645-1704.

 

Taiye Chen (American U): Obstfeld, M. and Zhou, H., 2023. The global dollar cycle (No. w31004). National Bureau of Economic Research.

Ren Zhang (TX state) Itskhoki, Oleg, and Dmitry Mukhin. Mussa puzzle redux. No. w28950. National Bureau of Economic Research, 2021. 


February 2024


Zoom ID: 834 6211 4298

Join Zoom Meeting: https://txstate.zoom.us/j/83462114298

 

Wang, Rufeng(ZJUT): Egorov, Konstantin and Dmitry Mukhin. 2023. "Optimal Policy under Dollar Pricing." American Economic Review, 113 (7): 1783-1824.

Bin Wang (Jinan): Amiti, Mary, Oleg Itskhoki, and Jozef Konings. "Importers, exporters, and exchange rate disconnect." American Economic Review 104, no. 7 (2014): 1942-1978. 

N/A

Taiye Chen (American U): Amiti, Mary, Oleg Itskhoki, and Jozef Konings. "Dominant currencies: How firms choose currency invoicing and why it matters." The Quarterly Journal of Economics 137.3 (2022): 1435-1493. 

Ren Zhang (TX state): Kekre, Rohan, and Moritz Lenel. The flight to safety and international risk sharing. American Economic Review, forthcoming.

N/A


March 2024


Zoom ID: 834 6211 4298

Join Zoom Meeting: https://txstate.zoom.us/j/83462114298


Ruizhi Dong(Nankai): Mendoza, Enrique G. "Sudden stops, financial crises, and leverage." American Economic Review 100.5 (2010): 1941-1966.

Ren Zhang (TX state):  Basu, Susanto, Giacomo Candian, Ryan Chahrour, and Rosen Valchev. Risky business cycles. No. w28693. National Bureau of Economic Research, 2021.

 

NA


Yi Zhang (HKUST-GZ): Lustig, Hanno, and Adrien Verdelhan. "The cross section of foreign currency risk premia and consumption growth risk." American Economic Review 97, no. 1 (2007): 89-117.

Li Yu (Liaoning U): Sauzet, Maxime. "Asset prices, global portfolios, and the international financial system." Global Portfolios, and the International Financial System (February 2, 2023) (2022).

 

NA

 

Taiye Chen (American U): Auer, Raphael, Ariel Burstein, and Sarah M. Lein. "Exchange rates and prices: evidence from the 2015 Swiss franc appreciation." American Economic Review 111.2 (2021): 652-86.

Yuheng Guo (Xi’an Jiaotong): (presentation in Chinese) Smets, Frank, and Raf Wouters. "An estimated dynamic stochastic general equilibrium model of the euro area." Journal of the European economic association 1, no. 5 (2003): 1123-1175.

 

April 2024


Zoom ID: 834 6211 4298

Join Zoom Meeting: https://txstate.zoom.us/j/83462114298


Weiwen Zou (Binghamton): Colacito, Riccardo, and Mariano M. Croce. "International asset pricing with recursive preferences." The Journal of Finance 68.6 (2013): 2651-2686.

Shanshan You (Sheffield): Bruno, Valentina, and Hyun Song Shin. "Cross-border banking and global liquidity." The Review of Economic Studies 82.2 (2015): 535-564.

 

Junxian Wang (Binghamton): Itskhoki, Oleg, and Dmitry Mukhin. "Exchange rate disconnect in general equilibrium." Journal of Political Economy 129.8 (2021): 2183-2232

Mohammed Mahinur Alam (Binghamton): Jiang, Zhengyang, Arvind Krishnamurthy, and Hanno Lustig. "Foreign safe asset demand and the dollar exchange rate." The Journal of Finance

 

Yi Zhang (HKUST-GZ): Koijen, Ralph SJ, and Motohiro Yogo. "A demand system approach to asset pricing." Journal of Political Economy 127, no. 4 (2019): 1475-1515.

Ren Zhang (TX state):  Koijen, Ralph SJ, and Motohiro Yogo. Exchange rates and asset prices in a global demand system. No. w27342. National Bureau of Economic Research, 2020.

 

Yi Zhang (HKUST-GZ):  Gabaix, Xavier, Ralph SJ Koijen, Robert Richmond, and Motohiro Yogo. "Asset embeddings." Available at SSRN 4507511 (2023).

Taiye Chen (American U): Amiti, Mary, Oleg Itskhoki, and Jozef Konings. "Dominant currencies: How firms choose currency invoicing and why it matters." The Quarterly Journal of Economics 137.3 (2022): 1435-1493.


May 2024


Zoom ID: 834 6211 4298

Join Zoom Meeting: https://txstate.zoom.us/j/83462114298


Tian Xia (Nankai): Coimbra, N., and H. Rey. "Financial cycles with heterogeneous intermediaries." Review of Economic Studies(2023).

Ren Zhang (TX state): Chahrour, Ryan, and Rosen Valchev. "The Dollar in an Era of International Retrenchment." (2023).


Bohan Yang(CASS) (presentation in Chinese): Atkeson, Andrew, Jonathan Heathcote, and Fabrizio Perri. The end of privilege: A reexamination of the net foreign asset position of the United States. No. w29771. National Bureau of Economic Research, 2022.

Wang, Rufeng(ZJUT) (presentation in Chinese): Gali, Jordi, and Tommaso Monacelli. "Monetary policy and exchange rate volatility in a small open economy." The Review of Economic Studies 72, no. 3 (2005): 707-734.