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Jing Zhang

Not to be confused with: Jing Zhang, Jing Zhang

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Enrique G. Mendoza & Linda L. Tesar & Jing Zhang, 2014. "Saving Europe?: The Unpleasant Arithmetic of Fiscal Austerity in Integrated Economies," Working Paper Series WP-2014-13, Federal Reserve Bank of Chicago.

    Mentioned in:

    1. Saving Europe?: The Unpleasant Arithmetic of Fiscal Austerity in Integrated Economies
      by Christian Zimmermann in NEP-DGE blog on 2015-01-17 01:59:01
  2. Andrei A. Levchenko & Jing Zhang, 2011. "The Evolution of Comparative Advantage: Measurement and Welfare Implications," NBER Working Papers 16806, National Bureau of Economic Research, Inc.

    Mentioned in:

    1. Whither Ricardian comparative advantage?
      by jdingel in Trade Diversion on 2011-06-08 22:40:23

Wikipedia or ReplicationWiki mentions

(Only mentions on Wikipedia that link back to a page on a RePEc service)
  1. Julian di Giovanni & Andrei A. Levchenko & Jing Zhang, 2014. "The Global Welfare Impact of China: Trade Integration and Technological Change," American Economic Journal: Macroeconomics, American Economic Association, vol. 6(3), pages 153-183, July.

    Mentioned in:

    1. The Global Welfare Impact of China: Trade Integration and Technological Change (AEJ:MA 2014) in ReplicationWiki ()

Working papers

  1. Michael Sposi & Kei-Mu Yi & Jing Zhang, 2024. "Deindustrialization and Industry Polarization," Globalization Institute Working Papers 428, Federal Reserve Bank of Dallas.

    Cited by:

    1. Aristizabal-Ramirez, Maria & Leahy, John & Tesar, Linda L., 2023. "A north-south model of structural change and growth," Journal of Monetary Economics, Elsevier, vol. 133(C), pages 77-102.
    2. Hagen Kruse & Emmanuel Mensah & Kunal Sen & Gaaitzen Vries, 2023. "A Manufacturing (Re)Naissance? Industrialization in the Developing World," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 71(2), pages 439-473, June.
    3. Ippei Fujiwara & Kiminori Matsuyama, 2022. "A Technology-Gap Model of Premature Deindustrialization," CIRJE F-Series CIRJE-F-1190, CIRJE, Faculty of Economics, University of Tokyo.
    4. Tasso Adamopoulos & Fernando Leibovici, 2024. "Trade Risk and Food Security," Working Papers 2024-004, Federal Reserve Bank of St. Louis, revised Feb 2024.
    5. Paul Gaggl & Aspen Gorry & Christian vom Lehn, 2023. "Structural Change in Production Networks and Economic Growth," CESifo Working Paper Series 10460, CESifo.
    6. Duc Nguyen, 2022. "Heterogeneous Paths of Structural Transformation," Working Papers tecipa-742, University of Toronto, Department of Economics.

  2. Ana Maria Santacreu & Michael Sposi & Jing Zhang, 2023. "What Determines State Heterogeneity in Response to U.S. Tariff Changes," Working Paper Series WP 2023-09, Federal Reserve Bank of Chicago.

    Cited by:

    1. Daniel R. Carroll & Sewon Hur, 2022. "On the Distributional Effects of International Tariffs," Globalization Institute Working Papers 413, Federal Reserve Bank of Dallas, revised 29 Mar 2023.
    2. Céline Poilly & Fabien Tripier, 2023. "Regional Trade Policy Uncertainty," Working Papers hal-04239322, HAL.

  3. Tesar, Linda & Mendoza, Enrique & Rojas, Eugenio, 2021. "A Macroeconomic Model of Healthcare Saturation, Inequality & the Output-Pandemia Tradeoff," CEPR Discussion Papers 15846, C.E.P.R. Discussion Papers.

    Cited by:

    1. Eichenbaum, Martin S. & Rebelo, Sergio & Trabandt, Mathias, 2022. "The macroeconomics of testing and quarantining," Journal of Economic Dynamics and Control, Elsevier, vol. 138(C).
    2. Enrique G. Mendoza & Eugenio I. Rojas & Linda L. Tesar & Jing Zhang, 2020. "A Macroeconomic Model of Healthcare Saturation, Inequality and the Output-Pandemia Tradeoff," NBER Working Papers 28247, National Bureau of Economic Research, Inc.
    3. Emanuele Colombo Azimonti & Luca Portoghese & Patrizio Tirelli, 2022. "Covid-19 supply-side fiscal policies to escape the health-vs-economy dilemma," DEM Working Papers Series 208, University of Pavia, Department of Economics and Management.
    4. Luca Portoghese & Patrizio Tirelli, 2024. "Getting ready for the next pandemic: supply- side policies to escape the health-vs-economy dilemma," DEM Working Papers Series 219, University of Pavia, Department of Economics and Management.

  4. Ana Maria Santacreu & Michael Sposi & Jing Zhang, 2021. "A Quantitative Analysis of Tariffs Across U.S. States," Working Paper Series WP-2021-08, Federal Reserve Bank of Chicago.

    Cited by:

    1. Makenzie Peake & Ana Maria Santacreu, 2020. "The Economic Effects of the 2018 U.S. Trade Policy: A State-Level Analysis," Review, Federal Reserve Bank of St. Louis, vol. 102(4), pages 385-412, October.
    2. Daniel R. Carroll & Sewon Hur, 2022. "On the Distributional Effects of International Tariffs," Globalization Institute Working Papers 413, Federal Reserve Bank of Dallas, revised 29 Mar 2023.

  5. Enrique G. Mendoza & Eugenio Rojas & Linda L. Tesar & Jing Zhang, 2021. "A Macroeconomic Model of Healthcare Saturation, Inequality and the Output-Pandemia Tradeoff," Working Paper Series WP-2021-02, Federal Reserve Bank of Chicago.

    Cited by:

    1. Eichenbaum, Martin S. & Rebelo, Sergio & Trabandt, Mathias, 2022. "The macroeconomics of testing and quarantining," Journal of Economic Dynamics and Control, Elsevier, vol. 138(C).
    2. Chia-Hui Lu, 2024. "The impact of lockdowns on macroeconomic performance: An application of epidemiology dynamics," Economics Bulletin, AccessEcon, vol. 44(2), pages 707-719.
    3. Enrique G. Mendoza & Eugenio I. Rojas & Linda L. Tesar & Jing Zhang, 2020. "A Macroeconomic Model of Healthcare Saturation, Inequality and the Output-Pandemia Tradeoff," NBER Working Papers 28247, National Bureau of Economic Research, Inc.
    4. Emanuele Colombo Azimonti & Luca Portoghese & Patrizio Tirelli, 2022. "Covid-19 supply-side fiscal policies to escape the health-vs-economy dilemma," DEM Working Papers Series 208, University of Pavia, Department of Economics and Management.
    5. Luca Portoghese & Patrizio Tirelli, 2024. "Getting ready for the next pandemic: supply- side policies to escape the health-vs-economy dilemma," DEM Working Papers Series 219, University of Pavia, Department of Economics and Management.
    6. Arbex, Marcelo & Barros, Luiz A. & Corrêa, Márcio V., 2024. "Pandemic, inequality and public health: A quantitative analysis," The Quarterly Review of Economics and Finance, Elsevier, vol. 97(C).

  6. Yun Jung Kim & Jing Zhang, 2020. "The Relationship between Debt and Output," Working Paper Series WP-2020-30, Federal Reserve Bank of Chicago.

    Cited by:

    1. Mohamed Bouabidi, 2023. "The surge in Tunisia foreign debt: causes and possible ways out," SN Business & Economics, Springer, vol. 3(3), pages 1-23, March.

  7. Yun Jung Kim & Jing Zhang, 2020. "International Capital Flows: Private Versus Public Flows in Developing and Developed Countries," Working Paper Series WP-2020-27, Federal Reserve Bank of Chicago.

    Cited by:

    1. Javier Bianchi & Guido Lorenzoni, 2021. "The Prudential Use of Capital Controls and Foreign Currency Reserves," Working Papers 787, Federal Reserve Bank of Minneapolis.
    2. Ergys Islamaj & M. Ayhan Kose, 2021. "What types of capital flows help improve international risk sharing?," CAMA Working Papers 2021-96, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    3. Yun Jung Kim & Jing Zhang, 2020. "The Relationship between Debt and Output," Working Paper Series WP-2020-30, Federal Reserve Bank of Chicago.

  8. Michael Sposi & Kei-Mu Yi & Jing Zhang, 2020. "Trade Integration, Global Value Chains and Capital Accumulation," Globalization Institute Working Papers 404, Federal Reserve Bank of Dallas.

    Cited by:

    1. Ariell Reshef & Gianluca Santoni, 2022. "Are Your Labor Shares Set in Beijing? The View through the Lens of Global Value Chains," CESifo Working Paper Series 9835, CESifo.
    2. Lionel Fontagné & Ariell Reshef & Gianluca Santoni & Giulio Vannelli, 2024. "Automation, global value chains and functional specialization," Review of International Economics, Wiley Blackwell, vol. 32(2), pages 662-691, May.
    3. Bernardina Algieri & Antonio Aquino & Marianna Succurro, 2022. "Trade Specialisation and Changing Patterns of Comparative Advantages in Manufactured Goods," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 8(3), pages 607-667, November.
    4. Johnson, Robert C. & Moxnes, Andreas, 2023. "GVCs and trade elasticities with multistage production," Journal of International Economics, Elsevier, vol. 145(C).
    5. González Rozada, Martín & Ruffo, Hernán, 2021. "Do Trade Agreements Contribute to the Decline in Labor Share? Evidence from Latin American Countries," IDB Publications (Working Papers) 11782, Inter-American Development Bank.
    6. Can Li & Qi He & Han Ji, 2023. "Can Global Value Chain Upgrading Promote Regional Economic Growth? Empirical Evidence and Mechanism Analysis Based on City-Level Panel Data in China," Sustainability, MDPI, vol. 15(15), pages 1-22, July.
    7. Can Li & Qi He & Han Ji & Shengguo Yu & Jiao Wang, 2023. "Reexamining the Impact of Global Value Chain Participation on Regional Economic Growth: New Evidence Based on a Nonlinear Model and Spatial Spillover Effects with Panel Data from Chinese Cities," Sustainability, MDPI, vol. 15(18), pages 1-31, September.

  9. Logan T. Lewis & Ryan Monarch & Michael Sposi & Jing Zhang, 2018. "Structural Change and Global Trade," Globalization Institute Working Papers 333, Federal Reserve Bank of Dallas.

    Cited by:

    1. Vanessa I. Alviarez & Cheng Chen & Nitya Pandalai-Nayar & Liliana Varela & Kei-Mu Yi & Hongyong Zhang, 2022. "Multinationals and Structural Transformation," NBER Working Papers 30494, National Bureau of Economic Research, Inc.
    2. Ricardo Reyes-Heroles, 2018. "Globalization and Structural Change in the United States: A Quantitative Assessment," 2018 Meeting Papers 1027, Society for Economic Dynamics.
    3. Serhan Cevik & Jan Gottschalk & Eric Hutton & Laura Jaramillo & Pooja Karnane & Mousse Sow, 2019. "Structural transformation and tax efficiency," International Finance, Wiley Blackwell, vol. 22(3), pages 341-379, December.
    4. Khan, Muhammad Aamir, 2020. "Cross sectoral linkages to explain structural transformation in Nepal," Structural Change and Economic Dynamics, Elsevier, vol. 52(C), pages 221-235.
    5. Chen, Natalie & Novy, Dennis & , Perroni, Carlo & Chern Wong, Horng Chern, 2023. "Urban-Biased Structural Change," The Warwick Economics Research Paper Series (TWERPS) 1484, University of Warwick, Department of Economics.
    6. William F. Lincoln & Andrew H. McCallum & Michael Siemer, 2019. "The Great Recession and a Missing Generation of Exporters," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 67(4), pages 703-745, December.
    7. Michael Sposi & Jing Zhang & Kei-Mu Yi, 2018. "Accounting for Structural Change Over Time: A Case Study of Three Middle-Income Countries," 2018 Meeting Papers 1141, Society for Economic Dynamics.
    8. Comin, Diego & Lashkari, Danial & Mestieri, Martí, 2017. "Structural Change with Long-run Income and Price Effects," CEPR Discussion Papers 12458, C.E.P.R. Discussion Papers.
    9. Michael Sposi & Jing Zhang & Kei-Mu Yi, 2019. "Structural Change and Deindustrialization," 2019 Meeting Papers 1328, Society for Economic Dynamics.
    10. Nils M. Gornemann & Pablo Guerrón-Quintana & Felipe Saffie, 2020. "Exchange Rates and Endogenous Productivity," International Finance Discussion Papers 1301, Board of Governors of the Federal Reserve System (U.S.).
    11. Benjamin N. Dennis & Talan B. İşcan, 2020. "Structural change and global trade flows: Does an emerging giant matter?," Review of International Economics, Wiley Blackwell, vol. 28(5), pages 1191-1231, November.
    12. Andrea Papetti, 2021. "Population aging, relative prices and capital flows across the globe," Temi di discussione (Economic working papers) 1333, Bank of Italy, Economic Research and International Relations Area.
    13. Tasso Adamopoulos & Fernando Leibovici, 2024. "Trade Risk and Food Security," Working Papers 2024-004, Federal Reserve Bank of St. Louis, revised Feb 2024.
    14. Saad, Ayhab F., 2021. "Institutional change in the global economy: How trade reform can be detrimental to welfare," Economic Modelling, Elsevier, vol. 95(C), pages 97-110.
    15. Catherine Boulatoff & Talan B. İşcan & Yulia Kotlyarova, 2022. "Does Distance Matter for Trade in Services? The Case of Interprovincial Trade in Canada," Open Economies Review, Springer, vol. 33(1), pages 157-185, February.
    16. Phong B. Dao, 2021. "A CUSUM-Based Approach for Condition Monitoring and Fault Diagnosis of Wind Turbines," Energies, MDPI, vol. 14(11), pages 1-19, June.
    17. Stanojević Nataša, 2020. "Deglobalization of the World Economy and its Effects on the Western Balkan Countries," Economic Themes, Sciendo, vol. 58(3), pages 343-362, September.

  10. Miles S. Kimball & Matthew D. Shapiro & Tyler Shumway & Jing Zhang, 2018. "Portfolio Rebalancing in General Equilibrium," NBER Working Papers 24722, National Bureau of Economic Research, Inc.

    Cited by:

    1. Ravi Kashyap, 2024. "To Trade Or Not To Trade: Cascading Waterfall Round Robin Rebalancing Mechanism for Cryptocurrencies," Papers 2407.12150, arXiv.org.
    2. Lu Gan & Dirong Xu & Xiuyun Chen & Pengyan Jiang & Benjamin Lev & Zongmin Li, 2023. "Sustainable portfolio re-equilibrium on wind-solar-hydro system: An integrated optimization with combined meta-heuristic," Energy & Environment, , vol. 34(5), pages 1383-1408, August.

  11. Kei-Mu Yi & Jing Zhang, 2016. "Real Interest Rates over the Long Run," Economic Policy Paper 16-10, Federal Reserve Bank of Minneapolis.

    Cited by:

    1. -, 2018. "Fiscal Panorama of Latin America and the Caribbean 2018: public policy challenges in the framework of the 2030 Agenda," Libros y Documentos Institucionales, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 43406 edited by Eclac.
    2. Jean-Marc Natal & Nicolas Stoffels, 2019. "Globalization, Market Power, and the Natural Interest Rate," IMF Working Papers 2019/095, International Monetary Fund.
    3. Joseph Steinberg, 2019. "On the Source of U.S. Trade Deficits: Global Saving Glut or Domestic Saving Drought?," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 31, pages 200-223, January.
    4. Karen Dynan, 2018. "Adapting tax systems for population aging," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 53(2), pages 66-71, April.

  12. Pablo D'Erasmo & Enrique G. Mendoza & Jing Zhang, 2015. "What is a Sustainable Public Debt?," NBER Working Papers 21574, National Bureau of Economic Research, Inc.

    Cited by:

    1. Roberto Tamborini & Matteo Tomaselli, 2019. "The determinants of austerity in the European Union 2010-16," DEM Working Papers 2019/6, Department of Economics and Management.
    2. Wickens, Michael R. & Heer, Burkhard, 2017. "Population Aging, Social Security and Fiscal Limits," CEPR Discussion Papers 11978, C.E.P.R. Discussion Papers.
    3. Christoph Winter & Sigrid Roehrs, 2014. "Reducing Government Debt in the Presence of Inequality," 2014 Meeting Papers 176, Society for Economic Dynamics.
    4. IWATA, Yasuharu & IIBOSHI, Hirokuni, 2023. "The Nexus between Public Debt and the Government Spending Multiplier: Fiscal Adjustments Matter," MPRA Paper 116355, University Library of Munich, Germany.
    5. Claudio Borio & Marco Jacopo Lombardi & Fabrizio Zampolli, 2016. "Fiscal sustainability and the financial cycle," BIS Working Papers 552, Bank for International Settlements.
    6. Philippopoulos, Apostolis & Varthalitis, Petros & Vassilatos, Vanghelis, 2017. "Fiscal consolidation and its cross-country effects," Journal of Economic Dynamics and Control, Elsevier, vol. 83(C), pages 55-106.
    7. Marina Azzimonti & Vincenzo Quadrini, 2018. "International Spillovers and Bailouts," NBER Working Papers 25011, National Bureau of Economic Research, Inc.
    8. Angelopoulos, Angelos & Economides, George & Liontos, George & Philippopoulos, Apostolis & Sakkas, Stelios, 2022. "Public redistributive policies in general equilibrium: an application to Greece," LSE Research Online Documents on Economics 117574, London School of Economics and Political Science, LSE Library.
    9. M. Ayhan Kose & Franziska Ohnsorge & Naotaka Sugawara, 2020. "Benefits and Costs of Debt: The Dose Makes the Poison," Koç University-TUSIAD Economic Research Forum Working Papers 2006, Koc University-TUSIAD Economic Research Forum.
    10. Dimakopoulou, Vasiliki & Economides, George & Philippopoulos, Apostolis & Vassilatos, Vanghelis, 2024. "Can central banks do the unpleasant job that governments should do?," European Economic Review, Elsevier, vol. 165(C).
    11. Mr. Philip Barrett, 2018. "Interest-Growth Differentials and Debt Limits in Advanced Economies," IMF Working Papers 2018/082, International Monetary Fund.
    12. Mr. Francisco Roch & Harald Uhlig, 2016. "The Dynamics of Sovereign Debt Crises and Bailouts," IMF Working Papers 2016/136, International Monetary Fund.
    13. Roy Havemann & Hylton Hollander, 2022. "Fiscal policy in times of fiscal stress: Or what to do when r > g," WIDER Working Paper Series wp-2022-52, World Institute for Development Economic Research (UNU-WIDER).
    14. Alba, Carlos & McKnight, Stephen, 2022. "Laffer curves in emerging market economies: The role of informality," Journal of Macroeconomics, Elsevier, vol. 72(C).
    15. Lars P. Feld & Martin Beznoska & Oliver Holtemöller & Hans-Peter Burghof & Ulrike Neyer & Clemens Fuest & Friedrich Heinemann & Thomas König, 2020. "Rekordschulden gegen Corona-Folgen – was kann sich der Staat leisten?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 73(08), pages 03-32, August.
    16. Vicente Esteve & María A. Prats, 2021. "Financial bubbles and sustainability of public debt: The case of Spain," Working Papers 2111, Department of Applied Economics II, Universidad de Valencia.
    17. Lars P. Feld & Ekkehard A. Köhler & Julia Wolfinger, 2018. "Modeling Fiscal Sustainability in Dynamic Macro-Panels with Heterogeneous Effects: Evidence from German Federal States," CESifo Working Paper Series 6976, CESifo.
    18. Enrique Mendoza, 2015. "EconomicDynamics Interviews Enrique Mendoza on Sovereign Debt," EconomicDynamics Newsletter, Review of Economic Dynamics, vol. 16(1), April.
    19. Alloza, Mario & Andrés, Javier & Pérez, Javier J. & Rojas, Juan A., 2020. "Implicit public debt thresholds: An operational proposal," Journal of Policy Modeling, Elsevier, vol. 42(6), pages 1408-1424.
    20. Ibrahima Diarra & Michel Guillard & Hubert Kempf, 2022. "Sovereign Defaults and Debt Sustainability: The Debt Recovery Channel," CESifo Working Paper Series 9688, CESifo.
    21. Oronde Small & Leanora Brown & Gustavo Canavire‐Bacarreza, 2020. "The Fiscal Policy Response To Public Debt In Developing Countries," Contemporary Economic Policy, Western Economic Association International, vol. 38(1), pages 155-165, January.
    22. Leeper, E.M. & Leith, C., 2016. "Understanding Inflation as a Joint Monetary–Fiscal Phenomenon," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 2305-2415, Elsevier.
    23. Piergallini, Alessandro & Postigliola, Michele, 2020. "Evaluating the sustainability of Italian public finances," The North American Journal of Economics and Finance, Elsevier, vol. 53(C).
    24. Corsetti, G. & Erce, A. & Uy, T., 2018. "Debt Sustainability and the Terms of Official Support," Cambridge Working Papers in Economics 1864, Faculty of Economics, University of Cambridge.
    25. V. Filipe Martins-da-Rocha & Toan Phan & Yiannis Vailakis, 2019. "Debt Limits and Credit Bubbles in General Equilibrium," Working Paper 19-19, Federal Reserve Bank of Richmond.
    26. K. R. Shanmugam & K. Shanmugam, 2022. "Sustainability and Threshold Value of Public Debt in Tamil Nadu," Working Papers 2022-226, Madras School of Economics,Chennai,India.
    27. Robertson, D. & Tambakis, D., 2016. "Long-Run Debt Ratios with Fiscal Fatigue," Cambridge Working Papers in Economics 1674, Faculty of Economics, University of Cambridge.
    28. Bury, Yannick & Feld, Lars P. & Köhler, Ekkehard A., 2023. "On the fiscal sustainability of Swiss Cantons since 1905," Freiburg Discussion Papers on Constitutional Economics 23/4, Walter Eucken Institut e.V..
    29. Lankester-Campos, Valerie & Loaiza-Marín, Kerry & Monge-Badilla, Carlos, 2020. "Assessing public debt sustainability for Costa Rica using the fiscal reaction function," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 1(1).
    30. Fournier, Jean-Marc & Fall, Falilou, 2017. "Limits to government debt sustainability in OECD countries," Economic Modelling, Elsevier, vol. 66(C), pages 30-41.
    31. Leeper, Eric M. & Li, Bing, 2017. "Surplus–debt regressions," Economics Letters, Elsevier, vol. 151(C), pages 10-15.
    32. Kheifets, Igor L. & Phillips, Peter C.B., 2023. "Fully modified least squares cointegrating parameter estimation in multicointegrated systems," Journal of Econometrics, Elsevier, vol. 232(2), pages 300-319.
    33. Campbell Leith & Eric Leeper, 2016. "Understanding Inflation as a Joint Monetary-Fiscal Phenomenon," Working Papers 2016_01, Business School - Economics, University of Glasgow.
    34. Dimakopoulou, Vasiliki & Economides, George & Philippopoulos, Apostolis, 2022. "The ECB's policy, the Recovery Fund and the importance of trust and fiscal corrections: The case of Greece," Economic Modelling, Elsevier, vol. 112(C).
    35. Maebayashi, Noritaka, 2021. "Paces of fiscal consolidations, fiscal sustainability, and welfare: An overlapping generations approach," MPRA Paper 109059, University Library of Munich, Germany.
    36. Enrique G. Mendoza & Eugenio I. Rojas & Linda L. Tesar & Jing Zhang, 2020. "A Macroeconomic Model of Healthcare Saturation, Inequality and the Output-Pandemia Tradeoff," NBER Working Papers 28247, National Bureau of Economic Research, Inc.
    37. Alberola, Enrique & Cheng, Gong & Consiglio, Andrea & Zenios, Stavros A., 2023. "Unconventional monetary policy and debt sustainability in Japan," Journal of the Japanese and International Economies, Elsevier, vol. 69(C).
    38. Francesca Di Iorio & Stefano Fachin, 2019. "Fiscal reaction functions for the advanced economies revisited," DSS Empirical Economics and Econometrics Working Papers Series 2019/1, Centre for Empirical Economics and Econometrics, Department of Statistics, "Sapienza" University of Rome.
    39. Xiaoshan Chen & Campbell Leith & Mattia Ricci, 2018. "Debt Sustainability and Welfare along an Optimal Laffer Curve," Department of Economics Working Papers 2018_02, Durham University, Department of Economics.
    40. Khansa Zaman & Muhammad Saeed Rana & Umer Iftikhar, 2019. "A Multilevel Analysis of Job Demands and Intention to Resign Through Perceived Service Recovery Performance," Business & Economic Review, Institute of Management Sciences, Peshawar, Pakistan, vol. 11(2), pages 67-82, June.
    41. Kevin X.D. Huang & Qinglai Meng & Jianpo Xue, 2018. "Balanced‐Budget Rules and Aggregate Instability: The Role of Endogenous Capital Utilization," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 50(8), pages 1669-1709, December.
    42. Airaudo, Marco, 2020. "Temptation and forward-guidance," Journal of Economic Theory, Elsevier, vol. 186(C).
    43. Piero Ferri & Fabio Tramontana, 2018. "Debt Persistence in a Deflationary Environment: A Regime-Switching Model," Computational Economics, Springer;Society for Computational Economics, vol. 52(2), pages 421-442, August.
    44. Olumide Olusegun Olaoye & Phillip A. Olomola, 2023. "Sub‐Saharan Africa's rising public debt stock: Is there a cause for concern?," South African Journal of Economics, Economic Society of South Africa, vol. 91(1), pages 85-115, March.
    45. K. R. Shanmugam & P.S. Renjith, 2023. "Sustainability and Threshold Value of Public Debt of Centre and All State Governments in India," Working Papers 2023-240, Madras School of Economics,Chennai,India.
    46. Jamel Saadaoui & Marco Chi Keung Lau & Yifei Cai, 2022. "Assessing Debt Stationarity and Sustainability in the Longer-Run with Fourier DF Unit Root Tests and Time-Varying Fiscal Reaction Functions," Working Papers 2022.07, International Network for Economic Research - INFER.
    47. Ruy Lama & Juan Pablo Medina, 2019. "Fiscal Deficits and Unemployment Dynamics: The Role of Productivity Gains and Wage Rigidities," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 34, pages 121-140, October.
    48. Jawaria Zahid & Atif Khan Jadoon & Bisma Hamza & Muhammad Ali, 2024. "Macroeconomics Determinants of Fiscal Sustainability in the Asian Countries," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 13(1), pages 193-201.
    49. Medina, Juan Pablo, 2021. "Mining development and macroeconomic spillovers in Chile," Resources Policy, Elsevier, vol. 70(C).
    50. Enrique Alberola-Ila & Gong Cheng & Andrea Consiglio & Stavros A. Zenios, 2022. "Debt sustainability and monetary policy: the case of ECB asset purchases," BIS Working Papers 1034, Bank for International Settlements.
    51. Marina Azzimonti & Vincenzo Quadrini, 2019. "International spillovers and `ex-ante' efficient bailouts," 2019 Meeting Papers 318, Society for Economic Dynamics.
    52. Esteve, Vicente & Prats, María A., 2023. "Testing explosive bubbles with time-varying volatility: the case of Spanish public debt," LSE Research Online Documents on Economics 116980, London School of Economics and Political Science, LSE Library.
    53. James Malley & Apostolis Philippopoulos & Jim Malley, 2022. "The Macroeconomic Effects of Funding U.S. Infrastructure," CESifo Working Paper Series 9530, CESifo.
    54. Emilio Congregado & Silviano Carmen Díaz-Roldán & Vicente Esteve, 2023. "Deficit sustainability and the Fiscal Theory of the Price Level: the case of Italy, 1861-2020," Working Papers 2301, Department of Applied Economics II, Universidad de Valencia.
    55. Xue, Jianpo & Yip, Chong K., 2018. "Home production, balanced-budget taxation and economic (in)stability," Journal of Macroeconomics, Elsevier, vol. 56(C), pages 231-242.
    56. Hyejin Ko, 2020. "Measuring fiscal sustainability in the welfare state: fiscal space as fiscal sustainability," International Economics and Economic Policy, Springer, vol. 17(2), pages 531-554, May.
    57. Liontos, George & Philippopoulos, Apostolis, 2023. "Who benefits from international fiscal cooperation? The role of cross-country asymmetries," The Journal of Economic Asymmetries, Elsevier, vol. 27(C).
    58. Okwoche Princewill U. & Iheonu Chimere O., 2021. "Determinants of fiscal effort in sub-Saharan African countries: Does conflict matter?," Economics and Business Review, Sciendo, vol. 7(2), pages 50-73, June.
    59. Olaoye, Olumide Olusegun & Olomola, P.A., 2022. "Empirical analysis of asymmetry phenomenon in the public debt structure of Sub-Saharan Africa's five biggest economies: A Markov-Switching model," The Journal of Economic Asymmetries, Elsevier, vol. 25(C).
    60. K. R. Shanmugam & P.S. Renjith, 2022. "Empirical Analysis on Sustainability of Public Debt in Indian States," Working Papers 2022-235, Madras School of Economics,Chennai,India.
    61. György Molnár & Gábor Dániel Soós & Balázs Világi, 2017. "Fiscal Policy and the Business Cycle," Financial and Economic Review, Magyar Nemzeti Bank (Central Bank of Hungary), vol. 16(4), pages 58-85.
    62. Michel Guillard & Hubert Kempf, 2017. "Public Debt Sustainability and Defaults," CESifo Working Paper Series 6554, CESifo.
    63. Togan Eğrican, Aslı & Caner, Selçuk & Togan, Sübidey, 2022. "Reforming public debt governance in Turkey to reach debt sustainability," Journal of Policy Modeling, Elsevier, vol. 44(5), pages 1057-1076.
    64. Ludger Schuknecht & Christoph A. Schaltegger & Michele Salvi & Jan Schnellenbach & Thomas Lenk & Christian Bender & Mario Hesse & Gert G. Wagner & Stefan Korioth & Klaus Gründler & Philipp Heil & Nikl, 2021. "Zankapfel Schuldenbremse: Bewährtes Instrument auch in Krisenzeiten?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 74(04), pages 03-30, April.
    65. Rai da Silva Chicoli & Siegfried Bender, 2019. "Estimation of maximum debt for emerging countries: An analysis by fiscal reaction function," Working Papers, Department of Economics 2019_44, University of São Paulo (FEA-USP).
    66. Maebayashi, Noritaka, 2021. "The pace of fiscal consolidations, fiscal sustainability, and welfare: An overlapping generations approach," MPRA Paper 112593, University Library of Munich, Germany, revised 30 Feb 2022.
    67. Feld, Lars P., 2018. "The quest for fiscal rules," Freiburg Discussion Papers on Constitutional Economics 18/09, Walter Eucken Institut e.V..
    68. Checherita-Westphal, Cristina & Domingues Semeano, João, 2020. "Interest rate-growth differentials on government debt: an empirical investigation for the euro area," Working Paper Series 2486, European Central Bank.
    69. Vicente Esteve & María A. Prats, 2022. "Testing explosive bubbles with time-varying volatility: The case of the Spanish public debt, 1850?2021," Working Papers 2205, Department of Applied Economics II, Universidad de Valencia.
    70. Maebayashi, Noritaka, 2023. "The pace of fiscal consolidations, fiscal sustainability, and welfare: An overlapping generations approach," Journal of Macroeconomics, Elsevier, vol. 75(C).
    71. Gonzalo F. de-Córdoba & Benedetto Molinari & José L. Torres, 2021. "Public Debt Frontier: A Python Toolkit for Analyzing Public Debt Sustainability," Sustainability, MDPI, vol. 13(23), pages 1-25, November.
    72. Emiliano Brancaccio & Raffaele Giammetti & Milena Lopreite & Michelangelo Puliga, 2023. "Convergence in solvency and capital centralization: A B‐VAR analysis for high‐income and euro area countries," Metroeconomica, Wiley Blackwell, vol. 74(1), pages 40-73, February.
    73. Jan Priewe, 2020. "Why 60 and 3 percent? European debt and deficit rules - critique and alternatives," IMK Studies 66-2020, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    74. Ricardo Reis, 2022. "Debt Revenue and the Sustainability of Public Debt," Journal of Economic Perspectives, American Economic Association, vol. 36(4), pages 103-124, Fall.
    75. Martin Guzman & Domenico Lombardi, 2018. "Assessing the Appropriate Size of Relief in Sovereign Debt Restructuring," Documentos de trabajo del Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET) 2018-26, Universidad de Buenos Aires, Facultad de Ciencias Económicas, Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET).
    76. CHEN Xiaoshan & LEITH Campbell & RICCI Mattia, 2023. "Evaluating Fiscal Policy Reforms using the Fiscal Frontier," JRC Working Papers on Taxation & Structural Reforms 2023-02, Joint Research Centre.
    77. Liu, Yang, 2023. "Government debt and risk premia," Journal of Monetary Economics, Elsevier, vol. 136(C), pages 18-34.
    78. Di Casola, Paola & Sichlimiris, Spyridon, 2017. "Domestic and External Sovereign Debt," Working Paper Series 345, Sveriges Riksbank (Central Bank of Sweden).
    79. Checherita-Westphal, Cristina & Žďárek, Václav, 2017. "Fiscal reaction function and fiscal fatigue: evidence for the euro area," Working Paper Series 2036, European Central Bank.
    80. Osband, Kent & Filoso, Valerio & Capasso, Salvatore, 2024. "The limits of limitless debt," Journal of Macroeconomics, Elsevier, vol. 79(C).
    81. Iwata, Yasuharu & Iiboshi, Hirokuni, 2020. "Fiscal Adjustments and Debt-Dependent Multipliers: Evidence from the U.S. Time Series," Discussion paper series HIAS-E-103, Hitotsubashi Institute for Advanced Study, Hitotsubashi University.
    82. Feld, Lars P. & Schmidt, Christoph M. & Schnabel, Isabel & Truger, Achim & Wieland, Volker, 2019. "Den Strukturwandel meistern. Jahresgutachten 2019/20 [Dealing with Structural Change. Annual Report 2019/20]," Annual Economic Reports / Jahresgutachten, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung, volume 127, number 201920, February.
    83. Betty Daniel, Christos Shiamptanis, 2015. "Predicting Sovereign Fiscal Crises: High-Debt Developed Countries," LCERPA Working Papers 0090, Laurier Centre for Economic Research and Policy Analysis, revised 05 May 2015.
    84. Canofari, Paolo & Marini, Giancarlo & Piergallini, Alessandro, 2020. "Financial Crisis and Sustainability of US Fiscal Deficit: Indicators or Tests?," Journal of Policy Modeling, Elsevier, vol. 42(1), pages 192-204.
    85. Muhammad Jalib Sikandar & Fazale Wahid, 2019. "Debt and Economic Growth of Pakistan; Role of Uncertain Economic and Political Conditions," Business & Economic Review, Institute of Management Sciences, Peshawar, Pakistan, vol. 11(2), pages 83-106, June.
    86. Hernán Ricardo Briceño & Javier Perote, 2020. "Determinants of the Public Debt in the Eurozone and Its Sustainability Amid the Covid-19 Pandemic," Sustainability, MDPI, vol. 12(16), pages 1-29, August.
    87. Igor Kheifets & Peter C.B. Phillips, 2019. "Fully Modified Least Squares for Multicointegrated Systems," Cowles Foundation Discussion Papers 2210, Cowles Foundation for Research in Economics, Yale University.

  13. Enrique G. Mendoza & Linda L. Tesar & Jing Zhang, 2014. "Saving Europe?: The Unpleasant Arithmetic of Fiscal Austerity in Integrated Economies," Working Paper Series WP-2014-13, Federal Reserve Bank of Chicago.

    Cited by:

    1. Stéphane Auray & Aurélien Eyquem & Paul Gomme, 2017. "Debt Hangover in the Aftermath of the Great Recession," Post-Print halshs-01520860, HAL.
    2. Pablo D'Erasmo & Enrique G. Mendoza & Jing Zhang, 2015. "What is a Sustainable Public Debt?," NBER Working Papers 21574, National Bureau of Economic Research, Inc.
    3. Gabriel Chodorow-Reich & Loukas Karabarbounis & Rohan Kekre, 2019. "The Macroeconomics of the Greek Depression," Working Papers 758, Federal Reserve Bank of Minneapolis.
    4. Paul Gomme, 2020. "Labor Market and Fiscal Policy During and After the Coronavirus," CIRANO Papers 2020pe-10, CIRANO.
    5. Alexandra Ferreira‐Lopes & Luís Filipe Martins & Ruben Espanhol, 2020. "The relationship between tax rates and tax revenues in eurozone member countries ‐ exploring the Laffer curve," Bulletin of Economic Research, Wiley Blackwell, vol. 72(2), pages 121-145, April.
    6. Christine Ma & Chung Tran, 2016. "Fiscal Space under Demographic Shift," ANU Working Papers in Economics and Econometrics 2016-642, Australian National University, College of Business and Economics, School of Economics.
    7. Eijffinger, Sylvester & Uras, Burak & Kobielarz, Michal, 2015. "Sovereign Debt, Bail-Outs and Contagion in a Monetary Union," CEPR Discussion Papers 10459, C.E.P.R. Discussion Papers.
    8. Victoria Nuguer & Jessica Roldan-Pena & Enrique Mendoza & Julio Carrillo, 2016. "When the Central Bank Meets the Financial Authority: Strategic Interactions and Institutional Design," 2016 Meeting Papers 1461, Society for Economic Dynamics.
    9. Pablo D'Erasmo & Enrique G. Mendoza, 2013. "Distributional Incentives in an Equilibrium Model of Domestic Sovereign Default," NBER Working Papers 19477, National Bureau of Economic Research, Inc.
    10. Stéphane Auray & Aurélien Eyquem & Paul Gomme, 2016. "A Tale of Tax Policies in Open Economies," Post-Print halshs-01232216, HAL.
    11. Enrique Mendoza, 2015. "EconomicDynamics Interviews Enrique Mendoza on Sovereign Debt," EconomicDynamics Newsletter, Review of Economic Dynamics, vol. 16(1), April.
    12. D’Erasmo, Pablo & Mendoza, Enrique G., 2021. "History remembered: Optimal sovereign default on domestic and external debt," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 969-989.
    13. Alejandro Cunat & Szabolcs Deak & Marco Maffezzoli, 2022. "Tax Cuts in Open Economies," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 45, pages 83-108, July.
    14. Kevin X.D. Huang & Qinglai Meng & Jianpo Xue, 2019. "Capital Income Taxation and Aggregate Instability," Vanderbilt University Department of Economics Working Papers 19-00007, Vanderbilt University Department of Economics.
    15. Christopher L. House & Linda L. Tesar, 2015. "Greek Budget Realities: No Easy Options," NBER Working Papers 21688, National Bureau of Economic Research, Inc.
    16. Matteo Cacciatore & Nora Traum, 2022. "Trade Flows and Fiscal Multipliers," The Review of Economics and Statistics, MIT Press, vol. 104(6), pages 1206-1223, November.
    17. Enrique G. Mendoza & Eugenio I. Rojas & Linda L. Tesar & Jing Zhang, 2020. "A Macroeconomic Model of Healthcare Saturation, Inequality and the Output-Pandemia Tradeoff," NBER Working Papers 28247, National Bureau of Economic Research, Inc.
    18. Xiaoshan Chen & Campbell Leith & Mattia Ricci, 2018. "Debt Sustainability and Welfare along an Optimal Laffer Curve," Department of Economics Working Papers 2018_02, Durham University, Department of Economics.
    19. Tamon Asonuma & Hyungseok Joo, 2021. "Public Capital and Fiscal Constraint in Sovereign Debt Crises," School of Economics Discussion Papers 0621, School of Economics, University of Surrey.
    20. Jocelyn Boussard & Benoît Campagne, 2017. "Fiscal Policy Coordination in a Monetary Union at the Zero Lower Bound," Post-Print hal-02353093, HAL.
    21. Pablo D'Erasmo & Enrique Mendoza, 2016. "Optimal Domestic (And External) Sovereign Default," Working Papers id:11228, eSocialSciences.
    22. Anzoategui, Diego, 2022. "Sovereign spreads and the effects of fiscal austerity," Journal of International Economics, Elsevier, vol. 139(C).
    23. Tamon Asonuma & Hyungseok Joo, 2023. "Sovereign Defaults and Debt Restructurings: Public Capital and Fiscal Constraint Tightness," School of Economics Discussion Papers 0323, School of Economics, University of Surrey.
    24. Filippo Balestrieri & Mr. Suman S Basu, 2018. "An Imperfect Financial Union With Heterogeneous Regions," IMF Working Papers 2018/205, International Monetary Fund.
    25. Janeba, Eckhard & Todtenhaupt, Maximilian, 2016. "Fiscal competition and public debt," ZEW Discussion Papers 16-013, ZEW - Leibniz Centre for European Economic Research.
    26. Curatola, Giuliano & Donadelli, Michael & Gioffré, Alessandro & Grüning, Patrick, 2015. "Austerity, fiscal uncertainty, and economic growth: Insights from fiscally weak EU countries," SAFE Working Paper Series 56, Leibniz Institute for Financial Research SAFE, revised 2015.
    27. Eijffinger, S.C.W. & Kobielarz, M.L. & Uras, R.B., 2015. "Sovereign Debt, Bail-Outs and Contagion in a Monetary Union," Other publications TiSEM 61f72c67-a909-4581-96fc-a, Tilburg University, School of Economics and Management.
    28. Paul Gomme, 2022. "US Fiscal policy during and after the coronavirus," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 55(S1), pages 358-378, February.
    29. Carlos Rondón-Moreno, 2022. "Debt and Taxes: Optimal Fiscal Consolidation in the Small Open Economy," Working Papers Central Bank of Chile 941, Central Bank of Chile.
    30. Christos Shiamptanis, 2019. "Tax Austerity: Does it avert solvency crises?," LCERPA Working Papers ec0119, Laurier Centre for Economic Research and Policy Analysis.
    31. Eijffinger, S.C.W. & Kobielarz, M.L. & Uras, R.B., 2015. "Sovereign Debt, Bail-Outs and Contagion in a Monetary Union," Other publications TiSEM 3a1338db-3d69-448b-92c0-8, Tilburg University, School of Economics and Management.
    32. Christopher L. House & Linda L. Tesar, 2015. "Greek Budget Realities: No Easy Option," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 46(2 (Fall)), pages 329-347.
    33. CHEN Xiaoshan & LEITH Campbell & RICCI Mattia, 2023. "Evaluating Fiscal Policy Reforms using the Fiscal Frontier," JRC Working Papers on Taxation & Structural Reforms 2023-02, Joint Research Centre.
    34. Falilou Fall & Debra Bloch & Jean-Marc Fournier & Peter Hoeller, 2015. "Prudent debt targets and fiscal frameworks," OECD Economic Policy Papers 15, OECD Publishing.
    35. Sokolovskyi, Dmytro, 2020. "Is Race to the bottom is modeled as Prisoner's dilemma?," MPRA Paper 99404, University Library of Munich, Germany.
    36. Kabukçuoğlu, Ayşe, 2017. "The winners and losers of tax reform: An assessment under financial integration," Journal of Economic Dynamics and Control, Elsevier, vol. 85(C), pages 90-122.
    37. Diego Anzoategui, 2019. "Sovereign Debt and the Effects of Fiscal Austerity," 2019 Meeting Papers 441, Society for Economic Dynamics.

  14. Andrei A. Levchenko & Jing Zhang, 2014. "The Evolution of Comparative Advantage: Measurement and Implications," Working Paper Series WP-2014-12, Federal Reserve Bank of Chicago.

    Cited by:

    1. French, Scott, 2017. "Revealed comparative advantage: What is it good for?," Journal of International Economics, Elsevier, vol. 106(C), pages 83-103.

  15. Jing Zhang, 2013. "Global Welfare Impact of China: Trade Integration and Technology Change," 2013 Meeting Papers 630, Society for Economic Dynamics.

    Cited by:

    1. Andrei A Levchenko & Jing Zhang, 2013. "The Global Labor Market Impact of Emerging Giants: A Quantitative Assessment," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 61(3), pages 479-519, August.
    2. Ferdinando Monte, 2014. "Local Transmission of Trade Shocks," Working Papers 2014-001, Human Capital and Economic Opportunity Working Group.
    3. Rod Tyers & Yixiao Zhou, 2019. "Financial integration and the global effects of China's growth surge," CAMA Working Papers 2019-09, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    4. José A. Tenreiro Machado & Maria Eugénia Mata & António M. Lopes, 2020. "Fractional Dynamics and Pseudo-Phase Space of Country Economic Processes," Mathematics, MDPI, vol. 8(1), pages 1-17, January.
    5. Andrei A. Levchenko & Jing Zhang, 2012. "Ricardian Productivity Differences and the Gains from Trade," Working Papers 633, Research Seminar in International Economics, University of Michigan.
    6. Inoue, Atsushi & Jin, Lu & Rossi, Barbara, 2017. "Rolling window selection for out-of-sample forecasting with time-varying parameters," Journal of Econometrics, Elsevier, vol. 196(1), pages 55-67.

  16. Andrei A. Levchenko & Jing Zhang, 2013. "The global labor market impact of rmerging giants: a quantitative assessment," Working Paper Series WP-2013-10, Federal Reserve Bank of Chicago.

    Cited by:

    1. Joao Paulo Pessoa, 2016. "International competition and labor market adjustment," CEP Discussion Papers dp1411, Centre for Economic Performance, LSE.
    2. Henrik Braconier & Giuseppe Nicoletti & Ben Westmore, 2015. "Policy challenges for the next 50 years," OECD Journal: Economic Studies, OECD Publishing, vol. 2015(1), pages 9-66.
    3. Francesco Caselli & Miklos Koren & Milan Lisicky & Silvana Tenreyro, 2015. "Diversification through Trade," CEP Discussion Papers dp1388, Centre for Economic Performance, LSE.
    4. Raphael Auer & Barthélémy Bonadio & Andrei A Levchenko, 2018. "The economics of revoking NAFTA," BIS Working Papers 739, Bank for International Settlements.
    5. Levchenko, Andrei & Auer, Raphael & Bonadio, Barthelemey, 2018. "The economics and politics of revoking NAFTA," CEPR Discussion Papers 13393, C.E.P.R. Discussion Papers.

  17. Timothy Uy & Kei-Mu Yi & Jing Zhang, 2013. "Structural change in an open economy," Working Paper Series WP-2013-09, Federal Reserve Bank of Chicago.

    Cited by:

    1. Fabio Milani & Sung Ho Park, 2013. "The Effects of Globalization on Macroeconomic Dynamics in a Trade-Dependent Economy: the Case of Korea," Working Papers 141502, University of California-Irvine, Department of Economics.
    2. Seung Mo Choi & Hwagyun Kim & Xiaohan Ma, 2021. "Trade, structural transformation and growth," The World Economy, Wiley Blackwell, vol. 44(6), pages 1770-1794, June.
    3. Sim, Seung-Gyu & Yoo, Dongwoo, 2018. "A quantitative study on endogenous formation of comparative advantage in South Korea," International Review of Economics & Finance, Elsevier, vol. 53(C), pages 71-87.
    4. Debaere, Peter & Kurzendoerfer, Amanda, 2015. "Decomposing U.S. Water Use Since 1950. Is the U.S. Experience Replicable?," CEPR Discussion Papers 10573, C.E.P.R. Discussion Papers.
    5. Jing Zhang & Andrei A. Levchenko, 2011. "Comparative Advantage and the Welfare Impact of European Integration," 2011 Meeting Papers 819, Society for Economic Dynamics.
    6. Michael Sposi, 2015. "Evolving comparative advantage, sectoral linkages, and structural change," Globalization Institute Working Papers 231, Federal Reserve Bank of Dallas.
    7. Suesse, Marvin & Wolf, Nikolaus, 2020. "Rural transformation, inequality, and the origins of microfinance," Journal of Development Economics, Elsevier, vol. 143(C).
    8. Bruno Conte & Klaus Desmet & Dávid Krisztián Nagy & Esteban Rossi-Hansberg, 2021. "Local sectoral specialization in a warming world," Journal of Economic Geography, Oxford University Press, vol. 21(4), pages 493-530.
    9. Eberhardt, Markus & Vollrath, Dietrich, 2018. "The Effect of Agricultural Technology on the Speed of Development," World Development, Elsevier, vol. 109(C), pages 483-496.
    10. Andrei A Levchenko & Jing Zhang, 2013. "The Global Labor Market Impact of Emerging Giants: A Quantitative Assessment," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 61(3), pages 479-519, August.
    11. Stijepic, Denis, 2019. "On development paths minimizing the aggregate labor-reallocation costs in the three-sector framework and an application to structural policy," VfS Annual Conference 2019 (Leipzig): 30 Years after the Fall of the Berlin Wall - Democracy and Market Economy 203519, Verein für Socialpolitik / German Economic Association.
    12. Lee, Iona Hyojung, 2018. "Industrial output fluctuations in developing countries: General equilibrium consequences of agricultural productivity shocks," European Economic Review, Elsevier, vol. 102(C), pages 240-279.
    13. Ju, Jiandong & Lin, Justin Yifu & Wang, Yong, 2015. "Endowment structures, industrial dynamics, and economic growth," Journal of Monetary Economics, Elsevier, vol. 76(C), pages 244-263.
    14. Boppart, Timo & Alder, Simon & Müller, Andreas, 2019. "A theory of structural change that can fit the data," CEPR Discussion Papers 13469, C.E.P.R. Discussion Papers.
    15. Papageorgiou, Chris & Perez-Sebastian, Fidel & Spatafora, Nikola, 2016. "Quality Upgrading and the Stages of Diversification," MPRA Paper 79400, University Library of Munich, Germany.
    16. Kuralbayeva, Karlygash & Stefanski, Radoslaw, 2013. "Windfalls, structural transformation and specialization," Journal of International Economics, Elsevier, vol. 90(2), pages 273-301.
    17. Levchenko, Andrei & di Giovanni, Julian & Ortega, Francesc, 2014. "A Global View of Cross-Border Migration," CEPR Discussion Papers 9919, C.E.P.R. Discussion Papers.
    18. Murat Ungor, 2016. "Online Appendix to "Productivity Growth and Labor Reallocation: Latin America versus East Asia"," Online Appendices 11-273, Review of Economic Dynamics.
    19. Robert Z. Lawrence, 2019. "China, Like the US, Faces Challenges in Achieving Inclusive Growth Through Manufacturing," Policy Briefs PB19-11, Peterson Institute for International Economics.
    20. Stijepic, Denis & Wagner, Helmut, 2008. "Impacts of Intermediate Trade on Structural Change," MPRA Paper 40841, University Library of Munich, Germany, revised 23 Aug 2012.
    21. Stijepic, Denis, 2017. "Empirical evidence on the geometrical properties of structural change trajectories," MPRA Paper 80854, University Library of Munich, Germany, revised 17 Aug 2017.
    22. Julian di Giovanni & Andrei A. Levchenko & Jing Zhang, 2012. "The Global Welfare Impact of China: Trade Integration and Technological Change," Working Papers 625, Research Seminar in International Economics, University of Michigan.
    23. Julian di Giovanni & Andrei A. Levchenko, 2012. "Country Size, International Trade, and Aggregate Fluctuations in Granular Economies," Journal of Political Economy, University of Chicago Press, vol. 120(6), pages 1083-1132.
    24. Yunfang Hu & Kazuo Mino, 2014. "Capital Accumulation and Structural Change in a Small Open Economy," Pacific Economic Review, Wiley Blackwell, vol. 19(5), pages 634-656, December.
    25. Stijepic, Denis, 2017. "On the predictability of economic structural change by the Poincaré-Bendixson theory," MPRA Paper 80849, University Library of Munich, Germany, revised 17 Aug 2017.
    26. Cai, Wenbiao, 2015. "Structural change accounting with labor market distortions," Journal of Economic Dynamics and Control, Elsevier, vol. 57(C), pages 54-64.
    27. Yanqun Zhang, 2017. "Productivity in China: past success and future challenges," Asia-Pacific Development Journal, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), vol. 24(1), pages 1-21, June.
    28. Robert Dekle, 2013. "Real Exchange Rates in a Model of Structural Change: Applications to the Real Yen-Dollar and Chinese RMB-Dollar Exchange Rates," IMES Discussion Paper Series 13-E-02, Institute for Monetary and Economic Studies, Bank of Japan.
    29. Ricardo Reyes-Heroles, 2018. "Globalization and Structural Change in the United States: A Quantitative Assessment," 2018 Meeting Papers 1027, Society for Economic Dynamics.
    30. Ishan Nath, 2021. "Climate Change, The Food Problem, and the Challenge of Adaptation through Sectoral Reallocation," Working Papers 21-29, Center for Economic Studies, U.S. Census Bureau.
    31. Aristizabal-Ramirez, Maria & Leahy, John & Tesar, Linda L., 2023. "A north-south model of structural change and growth," Journal of Monetary Economics, Elsevier, vol. 133(C), pages 77-102.
    32. Pi, Jiancai & Zhang, Pengqing, 2018. "Structural change and wage inequality," International Review of Economics & Finance, Elsevier, vol. 58(C), pages 699-707.
    33. Zhang, Wei-Bin, 2015. "Tourism, Trade, Externalities, And Public Goods In A Three-Sector Growth Model," UTMS Journal of Economics, University of Tourism and Management, Skopje, Macedonia, vol. 6(1), pages 1-19.
    34. Wenbiao Cai & B. Ravikumar & Raymond G. Riezman, 2015. "The Quantitative Importance Of Openness In Development," Economic Inquiry, Western Economic Association International, vol. 53(4), pages 1839-1849, October.
    35. Timothy J. Kehoe & Kim J. Ruhl & Joseph B. Steinberg, 2013. "Global Imbalances and Structural Change in the United States," NBER Working Papers 19339, National Bureau of Economic Research, Inc.
    36. Jiang, Zheng & Shi, Huimin, 2015. "Sectoral technological progress, migration barriers, and structural change in China," Journal of Comparative Economics, Elsevier, vol. 43(2), pages 257-273.
    37. Logan T Lewis & Ryan Monarch & Michael Sposi & Jing Zhang, 2022. "Structural Change and Global Trade," Journal of the European Economic Association, European Economic Association, vol. 20(1), pages 476-512.
    38. Desmet, Klaus & Rossi-Hansberg, Esteban, 2015. "On the spatial economic impact of global warming," Journal of Urban Economics, Elsevier, vol. 88(C), pages 16-37.
    39. Cai-Xia Song & Cui-Xia Qiao, 2023. "Technology Importation, Institutional Environment and Industrial Upgrading: Evidence from China," Journal of Economics / Ekonomicky casopis, Institute of Economic Research, Slovak Academy of Sciences, vol. 71(1), pages 23-45, January.
    40. Michaels, Guy & Rauch, Ferdinand & Redding, Stephen, 2019. "Task specialization in U.S. cities from 1880-2000," LSE Research Online Documents on Economics 85163, London School of Economics and Political Science, LSE Library.
    41. Andrei Levchenko & Jing Zhang, 2014. "External rebalancing, structural adjustment, and real exchange rates in developing Asia," Chapters, in: Benno Ferrarini & David Hummels (ed.), Asia and Global Production Networks, chapter 7, pages 215-248, Edward Elgar Publishing.
    42. Comunale, Mariarosaria & Felice, Giulia, 2022. "Trade and structural change: An empirical investigation," International Economics, Elsevier, vol. 171(C), pages 58-79.
    43. Trevor Tombe, 2012. "The Missing Food Problem," Working Papers tt0060, Wilfrid Laurier University, Department of Economics, revised 2012.
    44. Huikang Ying, 2014. "Growth and Structural Change in a Dynamic Lagakos-Waugh Model," Bristol Economics Discussion Papers 14/639, School of Economics, University of Bristol, UK.
    45. Javier Cravino & Andrei Levchenko & Marco Rojas, 2022. "Population Aging and Structural Transformation," American Economic Journal: Macroeconomics, American Economic Association, vol. 14(4), pages 479-498, October.
    46. Ishan B. Nath, 2020. "The Food Problem and the Aggregate Productivity Consequences of Climate Change," NBER Working Papers 27297, National Bureau of Economic Research, Inc.
    47. Remi Jedwab & Dietrich Vollrath, 2015. "Urbanization without Growth in Historical Perspective," Working Papers 2015-7, The George Washington University, Institute for International Economic Policy.
    48. Matsuyama, Kiminori, 2017. "Engel's Law in the Global Economy: Demand-induced Patterns of Structural Change, Innovation, and Trade," CEPR Discussion Papers 12387, C.E.P.R. Discussion Papers.
    49. Pierre-Richard Agénor & Baris Alpaslan, 2014. "Infrastructure and Industrial Development with Endogenous Skill Acquisition," Centre for Growth and Business Cycle Research Discussion Paper Series 195, Economics, The University of Manchester.
    50. Stijepic, Denis, 2016. "Positivistic models of long-run labor allocation dynamics," MPRA Paper 75045, University Library of Munich, Germany, revised 10 Nov 2016.
    51. Hongwei Liao & Liangping Yang & Henan Ma & JiaoJiao Zheng, 2020. "Technology import, secondary innovation, and industrial structure optimization: A potential innovation strategy for China," Pacific Economic Review, Wiley Blackwell, vol. 25(2), pages 145-160, May.
    52. Kim Kyungsoo & Oh Wankeun & Song E. Young, 2019. "International capital mobility and structural transformation," The B.E. Journal of Macroeconomics, De Gruyter, vol. 19(1), pages 1-11, January.
    53. Xiameng Pan & Chang Sun, 2023. "Internal Migration, Remittances and Economic Development," CESifo Working Paper Series 10623, CESifo.
    54. Daniel R. Carroll & Sewon Hur, 2022. "On the Distributional Effects of International Tariffs," Globalization Institute Working Papers 413, Federal Reserve Bank of Dallas, revised 29 Mar 2023.
    55. Coricelli, Fabrizio & Ravasan, Farshad R, 2017. "Structural Change and the China Syndrome: Baumol vs Trade Effects," CEPR Discussion Papers 12069, C.E.P.R. Discussion Papers.
    56. Stijepic, Denis, 2017. "On development paths minimizing the structural change costs in the three-sector framework and an application to structural policy," MPRA Paper 77023, University Library of Munich, Germany, revised 22 Feb 2017.
    57. Lee, Jong-Wha & McKibbin, Warwick J., 2014. "Service Sector Productivity and Economic Growth in Asia," ADBI Working Papers 490, Asian Development Bank Institute.
    58. Sposi, Michael, 2015. "Trade barriers and the relative price of tradables," Journal of International Economics, Elsevier, vol. 96(2), pages 398-411.
    59. Holger Breinlich & Alejandro Cuñat, 2012. "Geography, Non-Homotheticity, and Industrialization: A Quantitative Analysis," CESifo Working Paper Series 3927, CESifo.
    60. Daniel Carroll & Sewon Hur, 2019. "On the Heterogeneous Welfare Gains and Losses from Trade," 2019 Meeting Papers 1358, Society for Economic Dynamics.
    61. Guo, Kaiming & Hang, Jing & Yan, Se, 2021. "Servicification of investment and structural transformation: The case of China," China Economic Review, Elsevier, vol. 67(C).
    62. Fried, Stephie & Lagakos, David, 2021. "Rural electrification, migration and structural transformation: Evidence from Ethiopia," Regional Science and Urban Economics, Elsevier, vol. 91(C).
    63. Thomas Gries & Rainer Grundmann, 2020. "Modern sector development: The role of exports and institutions in developing countries," Review of Development Economics, Wiley Blackwell, vol. 24(2), pages 644-667, May.
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    81. Quint Wiersma, 2019. "The impact of WTO accession on Chinese firms' product and labor market power," Tinbergen Institute Discussion Papers 19-037/V, Tinbergen Institute.

  19. Andrei A. Levchenko & Jing Zhang, 2012. "Ricardian Productivity Differences and the Gains from Trade," Working Papers 633, Research Seminar in International Economics, University of Michigan.

    Cited by:

    1. Juan Carlos Suárez Serrato & Owen Zidar, 2015. "Who benefits from state corporate tax cuts? A local labour markets approach with heterogeneous firms," Working Papers 1502, Oxford University Centre for Business Taxation.
    2. French, Scott, 2016. "The composition of trade flows and the aggregate effects of trade barriers," Journal of International Economics, Elsevier, vol. 98(C), pages 114-137.
    3. Scott French, 2017. "Comparative Advantage and Biased Gravity," Discussion Papers 2017-03, School of Economics, The University of New South Wales.
    4. Ananth Ramanarayanan, 2012. "Imported Inputs and the Gains from Trade," 2012 Meeting Papers 612, Society for Economic Dynamics.
    5. Logan T Lewis & Ryan Monarch & Michael Sposi & Jing Zhang, 2022. "Structural Change and Global Trade," Journal of the European Economic Association, European Economic Association, vol. 20(1), pages 476-512.
    6. Rod Tyers, 2015. "Slower Growth and Vulnerability to Recession: Updating China’s Global Impact," Economics Discussion / Working Papers 15-22, The University of Western Australia, Department of Economics.
    7. Heitor S. Pellegrina & Sebastian Sotelo, 2021. "Migration, Specialization, and Trade: Evidence from the Brazilian March to the West," Working Papers 681, Research Seminar in International Economics, University of Michigan.
    8. Jean Imbs & Isabelle Méjean, 2017. "Trade Elasticities," Post-Print halshs-01626805, HAL.
    9. Sara Formai & Filippo Vergara Caffarelli, 2016. "Quantifying the productivity effects of global sourcing," Temi di discussione (Economic working papers) 1075, Bank of Italy, Economic Research and International Relations Area.
    10. Heerman, Kari E.R. & Zahniser, Steven, 2017. "Trade and production impacts of rolling back NAFTA's agricultural preferences: An application of the systematic heterogeneity general equilibrium gravity model," 2018 Allied Social Sciences Association (ASSA) Annual Meeting, January 5-7, 2018, Philadelphia, Pennsylvania 265401, Agricultural and Applied Economics Association.
    11. Stefano Bolatto, "undated". "Trade across Countries and Manufacturing Sectors with Heterogeneous Trade Elasticities," Development Working Papers 360, Centro Studi Luca d'Agliano, University of Milano.
    12. Erhardt, Katharina & Egger, Peter & Nigai, Sergey, 2021. "Empirical Productivity Distributions and International Trade," VfS Annual Conference 2021 (Virtual Conference): Climate Economics 242392, Verein für Socialpolitik / German Economic Association.
    13. Hu, Chenyue, 2020. "Industrial specialization matters: A new angle on equity home Bias," Journal of International Economics, Elsevier, vol. 126(C).
    14. Nelson Lind & Natalia Ramondo, 2023. "Global Innovation and Knowledge Diffusion," American Economic Review: Insights, American Economic Association, vol. 5(4), pages 494-510, December.
    15. Pengfei Wang & Danyang Xie, 2018. "Trade, Sectorial Reallocation, and Growth," Annals of Economics and Finance, Society for AEF, vol. 19(1), pages 49-74, May.
    16. Heerman, Kari E.R., 2020. "Technology, ecology and agricultural trade," Journal of International Economics, Elsevier, vol. 123(C).
    17. Pothen, Frank & Hübler, Michael, 2018. "The interaction of climate and trade policy," European Economic Review, Elsevier, vol. 107(C), pages 1-26.
    18. Heerman, Kari E. & Sheldon, Ian M., 2018. "Increased economic integration in the Asia-Pacific Region: What might be the potential impact on agricultural trade?," 2018 Annual Meeting, August 5-7, Washington, D.C. 274279, Agricultural and Applied Economics Association.
    19. Sara Formai & Filippo Vergara Caffarelli, 2015. "Quantifying the productivity e ects of global value chains," Cambridge Working Papers in Economics 1564, Faculty of Economics, University of Cambridge.
    20. Pedro Bento, 2021. "Trade without “scale effects”," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 54(3), pages 1252-1274, November.
    21. Rahul Giri & Kei-Mu Yi & Hakan Yilmazkuday, 2018. "Gains from Trade: Does Sectoral Heterogeneity Matter?," Globalization Institute Working Papers 341, Federal Reserve Bank of Dallas.
    22. Patrick Alexander, 2016. "Producer Heterogeneity, Value-Added, and International Trade," Staff Working Papers 16-54, Bank of Canada.
    23. Alviarez, Vanessa, 2019. "Multinational production and comparative advantage," Journal of International Economics, Elsevier, vol. 119(C), pages 1-54.
    24. Kari E. R. Heerman & Ian M. Sheldon, 2022. "Sustainable agricultural production, income, and eco‐labeling: What can be learned from a modern Ricardian approach?," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 44(4), pages 1614-1636, December.
    25. Patrick Alexander, 2017. "Vertical Specialization and Gains from Trade," Staff Working Papers 17-17, Bank of Canada.
    26. Mulabdic,Alen & Yasar,Pinar, 2021. "Gravity Model–Based Export Potential : An Application to Turkey," Policy Research Working Paper Series 9557, The World Bank.
    27. Yagoub Elryah, 2019. "On the Priorities of Comparative Advantage of Agro-industry Commodities: the way towards Economic Transformation," Research in Business and Management, Macrothink Institute, vol. 6(1), pages 13-47, February.

  20. Christopher L. House & Jing Zhang, 2012. "Layoffs, Lemons and Temps," NBER Working Papers 17962, National Bureau of Economic Research, Inc.

    Cited by:

    1. House, Christopher L., 2014. "Fixed costs and long-lived investments," Journal of Monetary Economics, Elsevier, vol. 68(C), pages 86-100.
    2. House, Christopher & Masatlioglu, Yusufcan, 2010. "Managing Markets for Toxic Assets," MPRA Paper 24590, University Library of Munich, Germany.
    3. Gebauer, Markus, 2019. "Permanent and temporary workers in a matching framework," Research in Economics, Elsevier, vol. 73(2), pages 138-148.

  21. Andrei A. Levchenko & Jing Zhang, 2012. "Comparative Advantage and the Welfare Impact of European Integration," Working Papers 626, Research Seminar in International Economics, University of Michigan.

    Cited by:

    1. Barbero, Javier & Mandras, Giovanni & Rodríguez-Crespo, Ernesto & Rodríguez-Pose, Andrés, 2021. "Quality of government and regional trade: evidence from European Union regions," LSE Research Online Documents on Economics 108211, London School of Economics and Political Science, LSE Library.
    2. Francesc Ortega & Giovanni Peri, 2016. "Openness and income: The roles of trade and migration," World Scientific Book Chapters, in: The Economics of International Migration, chapter 10, pages 309-329, World Scientific Publishing Co. Pte. Ltd..
    3. Los, Bart & Timmer, Marcel P. & de Vries, Gaaitzen J., 2015. "How important are exports for job growth in China? A demand side analysis," Journal of Comparative Economics, Elsevier, vol. 43(1), pages 19-32.
    4. Morrow, Peter M. & Trefler, Daniel, 2022. "How do endowments determine trade? quantifying the output mix, factor price, and skill-biased technology channels," Journal of International Economics, Elsevier, vol. 137(C).
    5. Michele Imbruno, 2021. "A micro‐founded approach to exploring gains from trade integration: Evidence from 27 EU countries," The World Economy, Wiley Blackwell, vol. 44(3), pages 706-732, March.
    6. Marcel Henkel & Tobias Seidel, 2019. "A Spatial Perspective On European Integration: Heterogeneous Welfare And Migration Effects From The Single Market And The Brexit," Economic Inquiry, Western Economic Association International, vol. 57(1), pages 333-352, January.
    7. Peter Egger & Sergey K. Nigai, 2016. "World-Trade Growth Accounting," CESifo Working Paper Series 5831, CESifo.
    8. Fritz Breuss, 2020. "25 Years of Austria's EU Membership. Quantifying the Economic Benefits With a DSGE Model," WIFO Working Papers 603, WIFO.
    9. Bouët, Antoine & Estrades, Carmen & Laborde, David, 2011. "Households heterogeneity in a global CGE model: an illustration with the MIRAGE poverty module," Conference papers 332034, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    10. Yuancheng Han & Jorge Miranda-Pinto & Satoshi Tanaka, 2023. "Service Trade, Regional Specialization, and Welfare," CAMA Working Papers 2023-41, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    11. Andrei A. Levchenko & Jing Zhang, 2012. "Ricardian Productivity Differences and the Gains from Trade," Working Papers 633, Research Seminar in International Economics, University of Michigan.
    12. Badi H. Baltagi & Peter Egger & Michael Pfaffermayr, 2014. "Panel Data Gravity Models of International Trade," CESifo Working Paper Series 4616, CESifo.
    13. Kancs, d'Artis & Persyn, Damiaan, 2019. "Welfare Gains from the Variety Growth," JRC Working Papers in Economics and Finance 2019-01, Joint Research Centre, European Commission.
    14. Elizaveta Archanskaia, 2013. "Proximity as a Source of Comparative Advantage," SciencePo Working papers Main hal-01070440, HAL.
    15. Francesc Ortega & Giovanni Peri, 2012. "The Effect of Trade and Migration on Income," NBER Working Papers 18193, National Bureau of Economic Research, Inc.
    16. Elizaveta Archanskaia, 2013. "Proximity as a Source of Comparative Advantage," SciencePo Working papers hal-01070440, HAL.
    17. Robin Grözinger, 2020. "Decomposing Central and Eastern Europe’s trade: Extending the evidence," Working Papers 389, Leibniz Institut für Ost- und Südosteuropaforschung (Institute for East and Southeast European Studies).
    18. Elizaveta Archanskaia, 2013. "Proximity as a Source of Comparative Advantage," Working Papers hal-01070440, HAL.
    19. Luigi Bonatti & Andrea Fracasso, 2013. "The German Model and the European Crisis," Journal of Common Market Studies, Wiley Blackwell, vol. 51(6), pages 1023-1039, November.
    20. Fritz Breuss, 2020. "Makroökonomische Effekte der 25- jährigen EU-Mitgliedschaft Österreichs," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue Q1-Q2/20, pages 27-48.
    21. Dr. Caroline Ntara, 2022. "What Does Africa Stand to Gain from the African Continental Free Trade Area?," International Journal of Science and Business, IJSAB International, vol. 16(1), pages 69-90.
    22. Nuno Limão, 2016. "Preferential Trade Agreements," NBER Working Papers 22138, National Bureau of Economic Research, Inc.
    23. Ortega, Francesc & Peri, Giovanni, 2013. "Migration, Trade and Income," IZA Discussion Papers 7325, Institute of Labor Economics (IZA).

  22. Yun Jung Kim & Linda L. Tesar & Jing Zhang, 2011. "The Impact of Foreign Liabilities on Small Firms: Firm-Level Evidence from the Korean Crisis," Working Papers 620, Research Seminar in International Economics, University of Michigan.

    Cited by:

    1. Lee, Kwan Yong & Naknoi, Kanda, 2024. "Exchange rates, invoicing currencies and the margins of exports," Journal of International Money and Finance, Elsevier, vol. 141(C).
    2. Spiros Bougheas & Hosung Lim & Simona Mateut & Paul Mizen & Cihan Yalcin, 2018. "Foreign Currency Borrowing, Exports and Firm Performance: Evidence from a Currency Crisis," Working Papers 1801, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    3. Varela, Liliana & Salomao, Juliana, 2018. "Exchange Rate Exposure and Firm Dynamics," CEPR Discussion Papers 12654, C.E.P.R. Discussion Papers.
    4. Emil Verner & Győző Gyöngyösi, 2020. "Household Debt Revaluation and the Real Economy: Evidence from a Foreign Currency Debt Crisis," American Economic Review, American Economic Association, vol. 110(9), pages 2667-2702, September.
    5. Elena Cefis & Cristina Bettinelli & Alex Coad & Orietta Marsili, 2022. "Understanding firm exit: a systematic literature review," Small Business Economics, Springer, vol. 59(2), pages 423-446, August.
    6. Malgorzata Skibinska, 2017. "Transmission of monetary policy and exchange rate shocks under foreign currency lending," KAE Working Papers 2017-027, Warsaw School of Economics, Collegium of Economic Analysis.
    7. Julián Caballero, 2020. "Corporate dollar debt and depreciations: all's well that ends well?," BIS Working Papers 879, Bank for International Settlements.
    8. Niepmann, Friederike & Schmidt-Eisenlohr, Tim, 2022. "Foreign currency loans and credit risk: Evidence from U.S. banks," Journal of International Economics, Elsevier, vol. 135(C).
    9. Egemen Eren & Semyon Malamud & Haonan Zhou, 2023. "Signaling with debt currency choice," BIS Working Papers 1067, Bank for International Settlements.
    10. Stefan Avdjiev & Valentina Bruno & Catherine Koch, 2018. "The dollar exchange rate as a global risk factor: evidence from investment," BIS Working Papers 695, Bank for International Settlements.
    11. Doruk, Ömer Tuğsal & Konuk, Serhat & Atici, Rümeysa, 2021. "Short-term working allowance and firm risk in the post-COVID-19 period: Novel matching evidence from an emerging market," Finance Research Letters, Elsevier, vol. 43(C).
    12. Bruno, Valentina & Shin, Hyun Song, 2018. "Currency depreciation and emerging market corporate distress," CEPR Discussion Papers 13298, C.E.P.R. Discussion Papers.
    13. Haeng-Sun Kim, 2016. "Firms’ Leverage and Export Market Participation: Evidence from South Korea," Working Papers halshs-01643899, HAL.
    14. Bryan Hardy, 2018. "Foreign currency borrowing, balance sheet shocks and real outcomes," BIS Working Papers 758, Bank for International Settlements.
    15. Xin, Yongrong & Khan, Rizwan Ullah & Dagar, Vishal & Qian, Fang, 2023. "Do international resources configure SMEs' sustainable performance in the digital era? Evidence from Pakistan," Resources Policy, Elsevier, vol. 80(C).
    16. Ṣebnem Kalemli-Özcan & Ilhyock Shim & Xiaoxi Liu, 2021. "Exchange Rate Fluctuations and Firm Leverage," NBER Working Papers 28608, National Bureau of Economic Research, Inc.
    17. Varela, Liliana & Alfaro, Laura & Calani, Mauricio, 2021. "Granular Corporate Hedging Under Dominant Currency," CEPR Discussion Papers 16232, C.E.P.R. Discussion Papers.
    18. Colin Weiss, 2020. "Contractionary Devaluation Risk: Evidence from the Free Silver Movement, 1878-1900," The Review of Economics and Statistics, MIT Press, vol. 102(4), pages 705-720, October.
    19. Iman Cheratian & Saleh Goltabar & Mohammad Reza Farzanegan, 2022. "Survival Strategies Under Sanctions: Firm-Level Evidence from Iran," Working Papers 1569, Economic Research Forum, revised 20 Aug 2022.
    20. Bryan Hardy & Felipe Saffie, 2019. "From carry trades to trade credit: financial intermediation by non-financial corporations," BIS Working Papers 773, Bank for International Settlements.
    21. Lorena Keller, 2018. "Prudential Capital Controls and Risk Misallocation: Bank Lending Channel," 2018 Meeting Papers 129, Society for Economic Dynamics.
    22. Uroš Herman & Tobias Krahnke, 2022. "Determinants and Effects of Countries’ External Capital Structure: A Firm-Level Analysis," IMF Working Papers 2022/038, International Monetary Fund.
    23. Jin, Jing & Liao, Rose C. & Loureiro, Gilberto, 2021. "The diverse effects of currency crises on multinational and local firms: The use of foreign currency debt," Journal of Multinational Financial Management, Elsevier, vol. 62(C).
    24. Muzi,Silvia & Jolevski,Filip & Ueda,Kohei & Viganola,Domenico, 2021. "Productivity and Firm Exit during the COVID-19 Crisis : Cross-Country Evidence," Policy Research Working Paper Series 9671, The World Bank.
    25. Haeng-Sun KIM, 2016. "Firms' leverage and export market participation: Evidence from South Korea," International Economics, CEPII research center, issue 148, pages 41-58.
    26. Ashis Kumar Pradhan & Gourishankar S. Hiremath, 2021. "Effects of foreign currency debt on investment of the firms in emerging economy," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(4), pages 4993-5004, October.
    27. Gyöngyösi, Győző & Rariga, Judit & Verner, Emil, 2022. "The anatomy of consumption in a household foreign currency debt crisis," Working Paper Series 2733, European Central Bank.
    28. Jorge Fernández B. & Fernando Pino M. & Francisco Vásquez L., 2020. "Corporate-Sector Functional Currency: An International Comparison," Working Papers Central Bank of Chile 882, Central Bank of Chile.
    29. Delis, Manthos & Politsidis, Panagiotis & Sarno, Lucio, 2018. "Foreign currency lending," MPRA Paper 88197, University Library of Munich, Germany.
    30. José Antonio Morales Castro & Francisco López-Herrera, 2021. "Ganancias cambiarias en empresas mexicanas y variables fundamentales y económicas," Remef - Revista Mexicana de Economía y Finanzas Nueva Época REMEF (The Mexican Journal of Economics and Finance), Instituto Mexicano de Ejecutivos de Finanzas, IMEF, vol. 16(2), pages 1-21, Abril - J.
    31. Kara, Alper & Hacihasanoglu, Yavuz Selim & Unalmis, Deren, 2021. "Financial contagion and the role of firm characteristics," Finance Research Letters, Elsevier, vol. 38(C).
    32. Jesse Schreger & Wenxin Du, 2014. "Sovereign Risk, Currency Risk, and Corporate Balance Sheets," Working Paper 209056, Harvard University OpenScholar.
    33. Kwang Soo Kim & Asli Leblebicioğlu, 2017. "The Impact of Multinational Presence on Domestic Investment: Firm‐Level Evidence from South Korea," Southern Economic Journal, John Wiley & Sons, vol. 84(2), pages 525-547, October.
    34. Kim, Yun Jung, 2016. "Foreign currency exposure and balance sheet effects: A firm-level analysis for Korea," Emerging Markets Review, Elsevier, vol. 26(C), pages 64-79.
    35. A. M. M. Shahiduzzaman Quoreshi & Trudy-Ann Stone, 2019. "Do Global Value Chains Make Firms More Vulnerable to Trade Shocks?—Evidence from Manufacturing Firms in Sweden," JRFM, MDPI, vol. 12(3), pages 1-16, September.
    36. De Gregorio, José & Jara, Mauricio, 2024. "The boom of corporate debt in emerging markets: Carry trade or save to invest?," Journal of International Economics, Elsevier, vol. 148(C).
    37. Hale, Galina B. & Jones, Peter C. & Spiegel, Mark M., 2020. "Home currency issuance in international bond markets," Journal of International Economics, Elsevier, vol. 122(C).
    38. Ma Degong & Farid Ullah & Muhammad Sualeh Khattak & Muhammad Anwar, 2018. "Do International Capabilities and Resources Configure Firm’s Sustainable Competitive Performance? Research within Pakistani SMEs," Sustainability, MDPI, vol. 10(11), pages 1-16, November.
    39. Sérgio Leão & Rafael Schiozer & Raquel F. Oliveira & Gustavo Araujo, 2022. "Lending Relationships and Currency Hedging," Working Papers Series 565, Central Bank of Brazil, Research Department.
    40. Rosario Aldunate, 2021. "Financial Constraints: a Propagation Mechanism of Foreign Shocks," Working Papers Central Bank of Chile 897, Central Bank of Chile.
    41. Eggers, Fabian, 2020. "Masters of disasters? Challenges and opportunities for SMEs in times of crisis," Journal of Business Research, Elsevier, vol. 116(C), pages 199-208.

  23. Andrei A. Levchenko & Jing Zhang, 2010. "The Evolution of Comparative Advantage: Measurement and Welfare Implications," Working Papers 610, Research Seminar in International Economics, University of Michigan.

    Cited by:

    1. Fan, Haichao & Li, Yao Amber & Xu, Sichuang & Yeaple, Stephen R., 2020. "Quality, variable markups, and welfare: A quantitative general equilibrium analysis of export prices," Journal of International Economics, Elsevier, vol. 125(C).
    2. Rahul Mukherjee & Linda Tesar & Ron Alquist, 2015. "Liquidity-Driven FDI," 2015 Meeting Papers 415, Society for Economic Dynamics.
    3. Simonovska, Ina & Waugh, Michael E., 2014. "The elasticity of trade: Estimates and evidence," Journal of International Economics, Elsevier, vol. 92(1), pages 34-50.
    4. Nan Li & Ana Maria Santacreu & Jie Cai, 2016. "Knowledge Diffusion and Trade Across Countries and Sectors," 2016 Meeting Papers 650, Society for Economic Dynamics.
    5. Rodrik, Dani, 2011. "The Future of Convergence," Scholarly Articles 5131504, Harvard Kennedy School of Government.
    6. Jing Zhang & Andrei A. Levchenko, 2011. "Comparative Advantage and the Welfare Impact of European Integration," 2011 Meeting Papers 819, Society for Economic Dynamics.
    7. Michael Sposi, 2015. "Evolving comparative advantage, sectoral linkages, and structural change," Globalization Institute Working Papers 231, Federal Reserve Bank of Dallas.
    8. Bloom, Nick & Draca, Mirko & Van Reenen, John, 2011. "Trade induced technical change? The impact of Chinese imports on innovation, IT and productivity," LSE Research Online Documents on Economics 121704, London School of Economics and Political Science, LSE Library.
    9. Stephen J. Redding & David E. Weinstein, 2018. "Aggregating From Micro to Macro Patterns of Trade," Working Papers 18-10, Center for Economic Studies, U.S. Census Bureau.
    10. Rodrigo Adao & Arnaud Costinot & Dave Donaldson, 2017. "Nonparametric Counterfactual Predictions in Neoclassical Models of International Trade," American Economic Review, American Economic Association, vol. 107(3), pages 633-689, March.
    11. Andrei A Levchenko & Jing Zhang, 2013. "The Global Labor Market Impact of Emerging Giants: A Quantitative Assessment," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 61(3), pages 479-519, August.
    12. Sampson, Thomas, 2023. "Technology gaps, trade and income," LSE Research Online Documents on Economics 117370, London School of Economics and Political Science, LSE Library.
    13. Ulrich Schetter, 2019. "A Structural Ranking of Economic Complexity," Growth Lab Working Papers 148, Harvard's Growth Lab.
    14. Kei-Mu Yi & Jing Zhang, 2010. "Structural Change in an Open Economy," Working Papers 595, Research Seminar in International Economics, University of Michigan.
    15. Pierre-Daniel Sarte & Fernando Parro & Esteban Rossi-Hansberg & Lorenzo Caliendo, 2014. "The Impact of Regional and Sectoral Productivity Changes on the U.S. Economy," 2014 Meeting Papers 426, Society for Economic Dynamics.
    16. Robert C. Johnson, 2018. "Measuring Global Value Chains," Annual Review of Economics, Annual Reviews, vol. 10(1), pages 207-236, August.
    17. Morrow, Peter M. & Trefler, Daniel, 2022. "How do endowments determine trade? quantifying the output mix, factor price, and skill-biased technology channels," Journal of International Economics, Elsevier, vol. 137(C).
    18. Papageorgiou, Chris & Perez-Sebastian, Fidel & Spatafora, Nikola, 2016. "Quality Upgrading and the Stages of Diversification," MPRA Paper 79400, University Library of Munich, Germany.
    19. Dzmitry Kruk & Kateryna Bornukova, 2013. "Belarusian Economic Growth Decomposition," BEROC Working Paper Series 24, Belarusian Economic Research and Outreach Center (BEROC).
    20. Dominick Bartelme & Ting Lan & Mr. Andrei A Levchenko, 2024. "Specialization, Market Access and Real Income," IMF Working Papers 2024/051, International Monetary Fund.
    21. French, Scott, 2017. "Revealed comparative advantage: What is it good for?," Journal of International Economics, Elsevier, vol. 106(C), pages 83-103.
    22. Costinot, Arnaud & Rodríguez-Clare, Andrés, 2014. "Trade Theory with Numbers: Quantifying the Consequences of Globalization," Handbook of International Economics, in: Gopinath, G. & Helpman, . & Rogoff, K. (ed.), Handbook of International Economics, edition 1, volume 4, chapter 0, pages 197-261, Elsevier.
    23. Stephen J. Redding & David E. Weinstein, 2018. "Accounting for Trade Patterns," Working Papers 2018-10, Princeton University. Economics Department..
    24. Gordon H. Hanson, 2012. "The Rise of Middle Kingdoms: Emerging Economies in Global Trade," NBER Working Papers 17961, National Bureau of Economic Research, Inc.
    25. Ana Maria Santacreu & Michael Sposi & Jing Zhang, 2021. "What Determines State Heterogeneity in Response to US Tariff Changes?," Working Papers 2021-007, Federal Reserve Bank of St. Louis, revised 08 Mar 2023.
    26. Nelson Lind & Natalia Ramondo, 2018. "Trade with Correlation," NBER Working Papers 24380, National Bureau of Economic Research, Inc.
    27. Julian di Giovanni & Andrei A. Levchenko & Jing Zhang, 2012. "The Global Welfare Impact of China: Trade Integration and Technological Change," Working Papers 625, Research Seminar in International Economics, University of Michigan.
    28. Huang, Hanwei & Ju, Jiandong & Yue, Vivian Z., 2017. "Structural adjustments and international trade: theory and evidence from China," LSE Research Online Documents on Economics 86601, London School of Economics and Political Science, LSE Library.
    29. Dani Rodrik, 2011. "Unconditional Convergence," NBER Working Papers 17546, National Bureau of Economic Research, Inc.
    30. Benny Kleinman & Ernest Liu & Stephen J. Redding, 2022. "International Friends and Enemies," Working Papers 292, Princeton University, Department of Economics, Center for Economic Policy Studies..
    31. Felix Tintelnot, 2013. "Global Production with Export Platforms," 2013 Meeting Papers 211, Society for Economic Dynamics.
    32. Ron Alquist & Nicolas Berman & Rahul Mukherjee & Linda L. Tesar, 2018. "Financial Constraints, Institutions, and Foreign Ownership," Working Papers halshs-01945577, HAL.
    33. Hugo Rojas-Romagosa & Eddy Bekkers & Joseph F. Francois, 2015. "Melting Ice Caps and the Economic Impact of Opening the Northern Sea Route," CPB Discussion Paper 307, CPB Netherlands Bureau for Economic Policy Analysis.
    34. Ricardo Reyes-Heroles, 2018. "Globalization and Structural Change in the United States: A Quantitative Assessment," 2018 Meeting Papers 1027, Society for Economic Dynamics.
    35. Elizaveta Archanskaia & Guillaume Daudin, 2017. "Heterogeneity and the distance puzzle," SciencePo Working papers Main hal-01496258, HAL.
    36. Eddy Bekkers & Michael Landesmann & Indre Macskasi, 2017. "Trade in Services versus Trade in Manufactures: The Relation between the Role of Tacit Knowledge, the Scope for Catch up, and Income Elasticity," wiiw Working Papers 139, The Vienna Institute for International Economic Studies, wiiw.
    37. Alen Mulabdic & Lorenzo Rotunno, 2021. "Trade barriers in government procurement," AMSE Working Papers 2122, Aix-Marseille School of Economics, France.
    38. Logan T Lewis & Ryan Monarch & Michael Sposi & Jing Zhang, 2022. "Structural Change and Global Trade," Journal of the European Economic Association, European Economic Association, vol. 20(1), pages 476-512.
    39. Lederman,Daniel & Pienknagura,Samuel Jaime & Rojas,Diego, 2015. "Latent trade diversification and its relevance for macroeconomic stability," Policy Research Working Paper Series 7332, The World Bank.
    40. Bernardina Algieri & Antonio Aquino & Marianna Succurro, 2022. "Trade Specialisation and Changing Patterns of Comparative Advantages in Manufactured Goods," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 8(3), pages 607-667, November.
    41. Andrei Levchenko & Jing Zhang, 2014. "External rebalancing, structural adjustment, and real exchange rates in developing Asia," Chapters, in: Benno Ferrarini & David Hummels (ed.), Asia and Global Production Networks, chapter 7, pages 215-248, Edward Elgar Publishing.
    42. Park, Soonchan, 2020. "Quality of transport infrastructure and logistics as source of comparative advantage," Transport Policy, Elsevier, vol. 99(C), pages 54-62.
    43. Rodrik, Dan, 2011. "The Future of Economic Convergence," Working Paper Series rwp11-033, Harvard University, John F. Kennedy School of Government.
    44. Pol Antràs & Davin Chor, 2021. "Global Value Chains," NBER Working Papers 28549, National Bureau of Economic Research, Inc.
    45. Lorenzo Caliendo & Fernando Parro, 2012. "Estimates of the Trade and Welfare Effects of NAFTA," NBER Working Papers 18508, National Bureau of Economic Research, Inc.
    46. Issaka Dialga, 2017. "Changing the Africa's impoverishing economic model: Towards a rewarding sustainable specialization model with a new factor of production," Working Papers halshs-01500431, HAL.
    47. Finicelli, Andrea & Pagano, Patrizio & Sbracia, Massimo, 2013. "Ricardian selection," Journal of International Economics, Elsevier, vol. 89(1), pages 96-109.
    48. Ronen, Eyal & Benizri, Yohan, 2018. "Export Competitiveness and Trade Agreements: Analysis and Insights from Israel’s Experience," MPRA Paper 84945, University Library of Munich, Germany.
    49. Heitor S. Pellegrina & Sebastian Sotelo, 2021. "Migration, Specialization, and Trade: Evidence from the Brazilian March to the West," Working Papers 681, Research Seminar in International Economics, University of Michigan.
    50. Bolatto, Stefano & Moramarco, Graziano, 2023. "Gains from trade and their quantification: Does sectoral disaggregation matter?," International Economics, Elsevier, vol. 174(C), pages 44-68.
    51. Melanie Krause & Stefan Szymanski, 2017. "Convergence vs. the middle income trap: The case of global soccer," Working Papers 453, ECINEQ, Society for the Study of Economic Inequality.
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    81. Sebastian Sotelo, 2020. "Domestic Trade Frictions and Agriculture," Journal of Political Economy, University of Chicago Press, vol. 128(7), pages 2690-2738.
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    83. Tokarick, Stephen, 2017. "The Implications of Chinas Pattern of Growth For the Rest of the World," Conference papers 332818, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
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    85. Dubey, Ram Sewak & Kang, Minwook, 2020. "Industrial subsidy policy and the optimal level of specialization," Economic Modelling, Elsevier, vol. 91(C), pages 81-88.
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    90. Asier Minondo, 2017. "Fundamental Versus Granular Comparative Advantage: An Analysis Using Chess Data," Kyklos, Wiley Blackwell, vol. 70(3), pages 425-455, August.
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    93. Alviarez, Vanessa, 2019. "Multinational production and comparative advantage," Journal of International Economics, Elsevier, vol. 119(C), pages 1-54.
    94. Asier Minondo, 2016. "Fundamental comparative advantage versus random talent: An analysis using chess data," Working Papers 1605, Department of Applied Economics II, Universidad de Valencia.
    95. Levchenko, Andrei & Auer, Raphael & Bonadio, Barthelemey, 2018. "The economics and politics of revoking NAFTA," CEPR Discussion Papers 13393, C.E.P.R. Discussion Papers.
    96. Andrey A. Gnidchenko & Vladimir A. Salnikov, 2015. "Net Comparative Advantage Index: Overcoming the Drawbacks of the Existing Indices," HSE Working papers WP BRP 119/EC/2015, National Research University Higher School of Economics.
    97. Mingzhi Xu, 2019. "Accounting for Revealed Comparative Advantage: Economic Complexity Redux," 2019 Meeting Papers 179, Society for Economic Dynamics.
    98. Kari E. R. Heerman & Ian M. Sheldon, 2022. "Sustainable agricultural production, income, and eco‐labeling: What can be learned from a modern Ricardian approach?," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 44(4), pages 1614-1636, December.
    99. Becker, Raphael Niklas & Henkel, Marcel, 2020. "The role of key regions in spatial development," DICE Discussion Papers 331, Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
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    101. Bolhuis, Marijn, 2019. "Catch-Up Growth and Inter-Industry Productivity Spillovers," MPRA Paper 94730, University Library of Munich, Germany.
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  24. Yun Jung Kim & Jing Zhang, 2010. "Decentralized Borrowing and Centralized Default," Working Papers 596, Research Seminar in International Economics, University of Michigan.

    Cited by:

    1. Haichao Fan & Xiang Gao, 2017. "Domestic Creditor Rights and External Private Debt," Economic Journal, Royal Economic Society, vol. 127(606), pages 2410-2440, November.
    2. Aguiar, M. & Chatterjee, S. & Cole, H. & Stangebye, Z., 2016. "Quantitative Models of Sovereign Debt Crises," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1697-1755, Elsevier.
    3. Yan Bai & Jing Zhang, 2006. "Financial Integration and International Risk Sharing," 2006 Meeting Papers 371, Society for Economic Dynamics.
    4. Cristina Arellano & Andrew Atkeson & Mark Wright, 2016. "External and Public Debt Crises," NBER Macroeconomics Annual, University of Chicago Press, vol. 30(1), pages 191-244.
    5. Arce, Fernando, 2021. "Private Overborrowing under Sovereign Risk," MPRA Paper 113176, University Library of Munich, Germany.
    6. Si Guo & Yun Pei, 2023. "The impact of sovereign defaults on lending countries," Review of Quantitative Finance and Accounting, Springer, vol. 60(1), pages 345-374, January.
    7. Uribe, Martín & Schmitt-Grohé, Stephanie & Yue, Vivian & Na, Seunghoon, 2015. "A Model of the Twin Ds: Optimal Default and Devaluation," CEPR Discussion Papers 10697, C.E.P.R. Discussion Papers.
    8. Pierri, Damian Rene, 2022. "An ergodic theory of sovereign default," UC3M Working papers. Economics 36164, Universidad Carlos III de Madrid. Departamento de Economía.
    9. Alessandria, George & Bai, Yan & Deng, Minjie, 2020. "Migration and sovereign default risk," Journal of Monetary Economics, Elsevier, vol. 113(C), pages 1-22.
    10. Charles-Henri Weymuller & Eduardo Davila, 2016. "Optimal Joint Bond Design," 2016 Meeting Papers 1447, Society for Economic Dynamics.
    11. Guo, Si & Pei, Yun & Xie, Zoe, 2022. "A dynamic model of fiscal decentralization and public debt accumulation," Journal of Public Economics, Elsevier, vol. 212(C).
    12. Gondo, Rocío, 2013. "Default Externalities in Emerging Market Systemic Private Debt Crises," Working Papers 2013-023, Banco Central de Reserva del Perú.
    13. Tavares, Tiago, 2019. "Labor market distortions under sovereign debt default crises," Journal of Economic Dynamics and Control, Elsevier, vol. 108(C).
    14. Esquivel, Carlos, 2024. "Underinvestment and capital misallocation under sovereign risk," Journal of International Economics, Elsevier, vol. 151(C).
    15. Yan Bai & Seon Tae Kim & Gabriel P. Mihalache, 2015. "The Maturity and Payment Schedule of Sovereign Debt," NBER Working Papers 20896, National Bureau of Economic Research, Inc.
    16. Maideu-Morera, Gerard, 2024. "Optimal Fiscal Rules and Macroprudential Policies with Sovereign Default Risk," TSE Working Papers 24-1534, Toulouse School of Economics (TSE).
    17. Pierri, Damian Rene, 2021. "Accuracy in recursive minimal state space methods," UC3M Working papers. Economics 33753, Universidad Carlos III de Madrid. Departamento de Economía.
    18. Bernardo Guimaraes & Lucas Tumkus, 2020. "On the costs of sovereign default in quantitative models," Discussion Papers 2021, Centre for Macroeconomics (CFM).
    19. Seunghoon Na & Stephanie Schmitt-Grohé & Martín Uribe & Vivian Yue, 2018. "The Twin Ds: Optimal Default and Devaluation," American Economic Review, American Economic Association, vol. 108(7), pages 1773-1819, July.
    20. Tavares, Tiago, 2015. "Labor Market Distortions under Sovereign Default Crises," MPRA Paper 66964, University Library of Munich, Germany.
    21. Si Guo & Yun Pei & Zoe Xie, 2018. "Fiscal Decentralization, Intergovernmental Transfer, and Overborrowing," 2018 Meeting Papers 975, Society for Economic Dynamics.
    22. Mehmet Behzat Ekinci, 2016. "External Borrowing and Inflation in Turkey Between 2003 and 2015: A Simple Linear Regression Analysis," International Journal of Economics and Financial Issues, Econjournals, vol. 6(1), pages 45-54.

  25. Yan Bai & Jing Zhang, 2009. "Financial Integration and International Risk Sharing," Working Papers 594, Research Seminar in International Economics, University of Michigan.

    Cited by:

    1. Roldán-Peña Jessica, 2012. "Default Risk and Economic Activity: A Small Open Economy Model with Sovereign Debt and Default," Working Papers 2012-16, Banco de México.
    2. Jing Cynthia Wu & Yinxi Xie & Ji Zhang, 2024. "The Role of International Financial Integration in Monetary Policy Transmission," Staff Working Papers 24-3, Bank of Canada.
    3. Bengui, Julien & Mendoza, Enrique G. & Quadrini, Vincenzo, 2013. "Capital mobility and international sharing of cyclical risk," Journal of Monetary Economics, Elsevier, vol. 60(1), pages 42-62.
    4. Li, Wei & Luo, Yulei & Nie, Jun, 2017. "Elastic attention, risk sharing, and international comovements," Journal of Economic Dynamics and Control, Elsevier, vol. 79(C), pages 1-20.
    5. Park, JungJae, 2011. "Sovereign Default and Capital Accumulation," MPRA Paper 60150, University Library of Munich, Germany, revised Nov 2014.
    6. Hevia, Constantino & Servén, Luis, 2018. "Assessing the degree of international consumption risk sharing," Journal of Development Economics, Elsevier, vol. 134(C), pages 176-190.
    7. Chen, Jianxin & Zhang, Tonghua & Zhou, Yong-wu, 2021. "Stochastic sensitivity and dynamical complexity of newsvendor models subject to trade credit," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 181(C), pages 471-486.
    8. Li, Zhongda & Liu, Lu, 2018. "Financial globalization, domestic financial freedom and risk sharing across countries," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 55(C), pages 151-169.
    9. Rahul Mukherjee, 2011. "Country Portfolios with Imperfect Corporate Governance," IHEID Working Papers 08-2011, Economics Section, The Graduate Institute of International Studies.
    10. Feng, Chaonan & Han, Liyan & Vigne, Samuel & Xu, Yang, 2023. "Geopolitical risk and the dynamics of international capital flows," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 82(C).
    11. David Hillier & Tiago Loncan, 2019. "Stock market integration, cost of equity capital, and corporate investment: Evidence from Brazil," European Financial Management, European Financial Management Association, vol. 25(1), pages 181-206, January.
    12. Durdu, C. Bora & Nunes, Ricardo & Sapriza, Horacio, 2013. "News and sovereign default risk in small open economies," Journal of International Economics, Elsevier, vol. 91(1), pages 1-17.
    13. Galli, Carlo, 2021. "Self-fulfilling debt crises, fiscal policy and investment," Journal of International Economics, Elsevier, vol. 131(C).
    14. Chen, Kuan-Jen & Chu, Angus C. & Lai, Ching-Chong, 2014. "Home Production and Small Open Economy Business Cycles," MPRA Paper 59020, University Library of Munich, Germany.
    15. Nardo, Michela & Ossola, Elisa & Papanagiotou, Evangalia, 2020. "Financial integration in the EU28 equity markets: measures and drivers," JRC Working Papers in Economics and Finance 2020-09, Joint Research Centre, European Commission.
    16. Eduardo Levy-Yeyati & Tomas Williams, 2011. "Financial globalization in emerging economies:Much ado about nothing?," Business School Working Papers 2011-01, Universidad Torcuato Di Tella.
    17. Hiroshi Fujiki & Akiko Terada-Hagiwara, 2007. "Financial Integration in East Asia," IMES Discussion Paper Series 07-E-12, Institute for Monetary and Economic Studies, Bank of Japan.
    18. Jarko Fidrmuc & Moritz Degler, 2018. "Temporal and Spatial Dependence of Inter-Regional Risk Sharing: Evidence from Russia," Working Papers 373, Leibniz Institut für Ost- und Südosteuropaforschung (Institute for East and Southeast European Studies).
    19. Yan Bai & Jing Zhang & Cristina Arellano, 2009. "Firm Dynamics and Financial Development," 2009 Meeting Papers 152, Society for Economic Dynamics.
    20. Si Guo & Yun Pei, 2023. "The impact of sovereign defaults on lending countries," Review of Quantitative Finance and Accounting, Springer, vol. 60(1), pages 345-374, January.
    21. Jarko Fidrmuc & Serhiy Moroz & Fabian Reck, 2021. "Regional risk-sharing in Ukraine," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 48(3), pages 645-660, August.
    22. Leilane de Freitas Rocha Cambara & Roberto Meurer, 2023. "News sentiment and foreign portfolio investment in Brazil," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(3), pages 3332-3348, July.
    23. Lizarazo, Sandra Valentina, 2013. "Default risk and risk averse international investors," Journal of International Economics, Elsevier, vol. 89(2), pages 317-330.
    24. Jose-Victor Rios-Rull & Yan Bai, 2013. "Demand shocks and open economy puzzles," 2013 Meeting Papers 523, Society for Economic Dynamics.
    25. Christev, Atanas & Melitz, Jacques, 2012. "EMU, EU, Market Integration and Consumption Smoothing," SIRE Discussion Papers 2012-76, Scottish Institute for Research in Economics (SIRE).
    26. Gu, Grace Weishi, 2015. "A Tale of Two Countries: Sovereign Default, Exchange Rate, and Trade," MPRA Paper 61900, University Library of Munich, Germany.
    27. Pierucci, Eleonora & Ventura, Luigi, 2012. "International risk sharing and globalization," MPRA Paper 35869, University Library of Munich, Germany.
    28. Toan Phan & Felipe Schwartzman, 2023. "Climate Defaults and Financial Adaptation," Working Paper 23-06, Federal Reserve Bank of Richmond.
    29. V. Filipe Martins-da-Rocha & Toan Phan & Yiannis Vailakis, 2019. "Debt Limits and Credit Bubbles in General Equilibrium," Working Paper 19-19, Federal Reserve Bank of Richmond.
    30. Malin Gardberg, 2016. "Determinants of International Consumption Risk Sharing in Emerging Markets and Developing Countries," EcoMod2016 9452, EcoMod.
    31. Epstein, Brendan & Mukherjee, Rahul & Ramnath, Shanthi, 2016. "Taxes and international risk sharing," Journal of International Economics, Elsevier, vol. 102(C), pages 310-326.
    32. Enrique G. Mendoza & Vivian Z. Yue, 2012. "A General Equilibrium Model of Sovereign Default and Business Cycles," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 127(2), pages 889-946.
    33. Hevia, Constantino & Serven, Luis, 2013. "Partial consumption insurance and financial openness across the world," Policy Research Working Paper Series 6479, The World Bank.
    34. Peter Fuleky & Luigi Ventura & Qianxue Zhao, 2016. "Common Correlated Effects and International Risk Sharing," Working Papers 201612, University of Hawaii at Manoa, Department of Economics.
    35. Jing Zhang & Yun Jung Kim, 2010. "Decentralized Borrowing and Centralized Default," 2010 Meeting Papers 1288, Society for Economic Dynamics.
    36. Castro, Rui & Koumtingué, Nelnan, 2014. "On the individual optimality of economic integration," Journal of Monetary Economics, Elsevier, vol. 68(C), pages 115-135.
    37. Gerdie Everaert & Lorenzo Pozzi, 2022. "Encompassing measures of international consumption risk sharing and their link with trade and financial globalization," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 37(2), pages 433-449, March.
    38. Leonardo Martinez & Juan Carlos Hatchondo, 2008. "A model of credit risk without commitment," 2008 Meeting Papers 940, Society for Economic Dynamics.
    39. Devereux, Michael B. & Yetman, James, 2014. "Globalisation, pass-through and the optimal policy response to exchange rates," Journal of International Money and Finance, Elsevier, vol. 49(PA), pages 104-128.
    40. Md. Saifur Rahman & Farihana Shahari, 2019. "Does the Financial Integration in ASEAN+3 Respond to Financial Cooperation Agreement and Influence the Real Sectors?," Review of Pacific Basin Financial Markets and Policies (RPBFMP), World Scientific Publishing Co. Pte. Ltd., vol. 22(01), pages 1-18, March.
    41. Alessandria, George & Bai, Yan & Deng, Minjie, 2020. "Migration and sovereign default risk," Journal of Monetary Economics, Elsevier, vol. 113(C), pages 1-22.
    42. Ergys Islamaj & M. Ayhan Kose, 2021. "What types of capital flows help improve international risk sharing?," CAMA Working Papers 2021-96, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    43. Malin Gardberg, 2022. "Financial reforms and low‐income households' impact on international consumption risk sharing," International Finance, Wiley Blackwell, vol. 25(3), pages 375-395, December.
    44. Robert P. Flood & Nancy P. Marion & Akito Matsumoto, 2012. "International risk sharing during the globalization era," Canadian Journal of Economics, Canadian Economics Association, vol. 45(2), pages 394-416, May.
    45. Boz, Emine, 2011. "Sovereign default, private sector creditors, and the IFIs," Journal of International Economics, Elsevier, vol. 83(1), pages 70-82, January.
    46. Sandra Lizarazo & Jose Maria Da-Rocha, 2009. "Money, Credit and Default," Working Papers 0908, Centro de Investigacion Economica, ITAM.
    47. Jean-François Rouillard, 2013. "International Risk Sharing and Land Dynamics," Cahiers de recherche 13-02, Departement d'économique de l'École de gestion à l'Université de Sherbrooke.
    48. Puriya Abbassi & Falk Bräuning & Falko Fecht & José-Luis Peydró, 2017. "International financial integration, crises and monetary policy: evidence from the Euro area interbank crises," Economics Working Papers 1566, Department of Economics and Business, Universitat Pompeu Fabra.
    49. Juan Carlos Hatchondo & Leonardo Martinez & Cesar Sosa-Padilla, 2015. "Debt Dilution and Sovereign Default Risk," CAEPR Working Papers 2015-012, Center for Applied Economics and Policy Research, Department of Economics, Indiana University Bloomington.
    50. Kose, M. Ayhan & Prasad, Eswar S. & Terrones, Marco E., 2009. "Does financial globalization promote risk sharing?," Journal of Development Economics, Elsevier, vol. 89(2), pages 258-270, July.
    51. Juan Carlos Hatchondo & Leonardo Martinez & Horacio Sapriza, 2009. "Heterogeneous Borrowers In Quantitative Models Of Sovereign Default," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 50(4), pages 1129-1151, November.
    52. Juan Carlos Hatchondo & Leonardo Martinez & Horacio Sapriza, 2009. "On the cyclicality of the interest rate in emerging economy models: solution methods matter," Working Paper 09-13, Federal Reserve Bank of Richmond.
    53. Fink, Fabian & Scholl, Almuth, 2016. "A quantitative model of sovereign debt, bailouts and conditionality," Journal of International Economics, Elsevier, vol. 98(C), pages 176-190.
    54. Jaap W. B. Bos & Claire Economidou & Lu Zhang, 2020. "Specialization in the presence of trade and financial openness," Empirical Economics, Springer, vol. 58(6), pages 2783-2816, June.
    55. Eberhardt, Markus, 2018. "(At Least) Four Theories for Sovereign Default," CEPR Discussion Papers 13084, C.E.P.R. Discussion Papers.
    56. Faruk Balli & Eleonora Pierucci, 2015. "Globalization and international risk-sharing: do political and social factors matter more than economic integration?," CAMA Working Papers 2015-04, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    57. Malik, Samreen, 2015. "Financial-integration thresholds for consumption risk-sharing," International Review of Economics & Finance, Elsevier, vol. 38(C), pages 73-93.
    58. Malik, Samreen, 2014. "Ex-ante implications of sovereign default," Journal of Banking & Finance, Elsevier, vol. 49(C), pages 386-397.
    59. Xiaoli Zhang & Guoyi Xiu & Fakhar Shahzad & Yupeng Duan, 2021. "Optimal Financing Strategy in a Capital-Constrained Supply Chain with Retailer Green Marketing Efforts," Sustainability, MDPI, vol. 13(3), pages 1-19, January.
    60. Pilar Poncela & Filippo Pericoli & Anna Manca & Filippo Michela Nardo, 2016. "Risk Sharing in Europe," JRC Research Reports JRC104621, Joint Research Centre.
    61. Artis, Michael & Hoffmann, Mathias, 2004. "Financial Globalization, International Business Cycles and Consumption Risk Sharing," CEPR Discussion Papers 4697, C.E.P.R. Discussion Papers.
    62. Sèna Kimm Gnangnon, 2022. "Export diversification and financial openness," International Economics and Economic Policy, Springer, vol. 19(4), pages 675-717, October.
    63. Jean-François Rouillard, 2015. "International Risk Sharing and Financial Shocks," Cahiers de recherche 15-13, Departement d'économique de l'École de gestion à l'Université de Sherbrooke.
    64. Cristina Arellano & Yan Bai & Gabriel Mihalache, 2017. "Default Risk, Sectoral Reallocation, and Persistent Recessions," NBER Chapters, in: NBER International Seminar on Macroeconomics 2017, National Bureau of Economic Research, Inc.
    65. Bai, Ye & Chow, Darien Yan Pang, 2017. "Shanghai-Hong Kong Stock Connect: An analysis of Chinese partial stock market liberalization impact on the local and foreign markets," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 50(C), pages 182-203.
    66. Abbassi, Puriya & Bräuning, Falk & Fecht, Falko & Peydró, José-Luis, 2022. "Cross-border interbank liquidity, crises, and monetary policy," Journal of International Economics, Elsevier, vol. 139(C).
    67. Rangvid, Jesper & Santa-Clara, Pedro & Schmeling, Maik, 2016. "Capital market integration and consumption risk sharing over the long run," Journal of International Economics, Elsevier, vol. 103(C), pages 27-43.
    68. Rahman, Md. Saifur & Shahari, Farihana, 2017. "The nexus between financial integration and real economy: Solow-growth model concept," Research in International Business and Finance, Elsevier, vol. 42(C), pages 1244-1253.
    69. Md. Saifur Rahman & Farihana Shahari, 2021. "Does the financial cooperation agreement increase the interdependency among ASEAN+3 equity markets? A Markov switching approach," International Economics and Economic Policy, Springer, vol. 18(4), pages 869-899, October.
    70. Pontines, Victor, 2020. "A provincial view of consumption risk sharing in Korea:Asset classes as shock absorbers," Journal of the Japanese and International Economies, Elsevier, vol. 55(C).
    71. Shang-Jin Wei, 2018. "Managing Financial Globalization: Insights from the Recent Literature," Working Papers id:12586, eSocialSciences.
    72. Juan Carlos Hatchondo & Leonardo Martinez & Horacio Sapriza, 2007. "Quantitative models of sovereign default and the threat of financial exclusion," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 93(Sum), pages 251-286.
    73. Schröder, Marcel, 2019. "Valuation effects and risk sharing during the era of financial globalization," The North American Journal of Economics and Finance, Elsevier, vol. 48(C), pages 467-480.
    74. Clancy, Daragh & Ricci, Lorenzo, 2022. "Economic sentiments and international risk sharing," International Economics, Elsevier, vol. 169(C), pages 208-229.
    75. Filippo M. Pericoli & Eleonora Pierucci & Luigi Ventura, 2015. "International investment positions and risk-sharing: an empirical analysis on the coordinated portfolio investment survey," International Journal of Computational Economics and Econometrics, Inderscience Enterprises Ltd, vol. 5(4), pages 364-391.
    76. Park, JungJae, 2017. "Sovereign default and capital accumulation," Journal of International Economics, Elsevier, vol. 106(C), pages 119-133.
    77. Yépez, Carlos A., 2019. "Informality and international business cycles," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 62(C), pages 252-263.
    78. Asdrubali, Pierfederico & Kim, Soyoung & Pericoli, Filippo Maria & Poncela, Pilar, 2023. "Risk sharing channels in OECD countries: A heterogeneous panel VAR approach," Journal of International Money and Finance, Elsevier, vol. 131(C).
    79. Joanna Tyrowicz, 2009. "When Eastern Labour Markets Enter Western Europe CEECs. Labour Market Institutions upon Euro Zone Accession," Working Papers 2009-03, Faculty of Economic Sciences, University of Warsaw.
    80. Juan Carlos Hatchondo & Leonardo Martinez, 2009. "Long-duration bonds and sovereign defaults," Working Paper 08-02, Federal Reserve Bank of Richmond.
    81. Victor Filipe Martins da Rocha & Yiannis Vailakis, 2014. "Self-enforcing Debt, Reputation, and the Role of Interest Rates," Working Papers hal-01097114, HAL.
    82. Yu, Changhua, 2015. "Evaluating international financial integration in a center-periphery economy," Journal of International Economics, Elsevier, vol. 95(1), pages 129-144.
    83. Suzuki, Yui, 2014. "Financial integration and consumption risk sharing and smoothing," International Review of Economics & Finance, Elsevier, vol. 29(C), pages 585-598.
    84. Enrico Mallucci, 2020. "Natural Disasters, Climate Change, and Sovereign Risk," International Finance Discussion Papers 1291r1, Board of Governors of the Federal Reserve System (U.S.), revised 14 Oct 2020.
    85. Nicolas Melissas, 2009. "On Bid Disclosure in OCS Wildcat Auctions," Working Papers 0905, Centro de Investigacion Economica, ITAM.
    86. Nikolai Stähler, 2013. "Recent Developments In Quantitative Models Of Sovereign Default," Journal of Economic Surveys, Wiley Blackwell, vol. 27(4), pages 605-633, September.
    87. Daragh Clancy & Lorenzo Ricci, 2019. "Loss aversion, economic sentiments and international consumption smoothing," Working Papers 35, European Stability Mechanism.
    88. Juan Carlos Hatchondo & Leonardo Martinez & Horacio Sapriza, 2006. "Computing business cycles in emerging economy models," Working Paper 06-11, Federal Reserve Bank of Richmond.
    89. Bahadir, Berrak & Lastrapes, William D., 2015. "Emerging market economies and the world interest rate," Journal of International Money and Finance, Elsevier, vol. 58(C), pages 1-28.
    90. Simeon Coleman & Kavita Sirichand, 2014. "International yield curve comovements: impact of the recent financial crisis," Discussion Paper Series 2014_07, Department of Economics, Loughborough University, revised Jul 2014.
    91. Faruk Balli & Eleonora Pierucci & Jian Gan, 2020. "Determinants of risk sharing via exports: trade openness and specialisation," International Journal of Computational Economics and Econometrics, Inderscience Enterprises Ltd, vol. 10(4), pages 380-397.
    92. Sandra Lizarazo & Horacio Sapriza & Javier Bianchi, 2014. "Sovereign Default and Government’s Bailouts," 2014 Meeting Papers 1297, Society for Economic Dynamics.
    93. Grey Gordon & Pablo Guerrón-Quintana, 2013. "Dynamics of investment, debt, and default," Working Papers 13-18, Federal Reserve Bank of Philadelphia.
    94. Balli, Faruk & Pericoli, Filippo M. & Pierucci, Eleonora, 2018. "Globalization and international risk-sharing: The role of social and political integration," European Journal of Political Economy, Elsevier, vol. 55(C), pages 324-345.
    95. Eleonora Pierucci & Luigi Ventura, 2010. "Risk Sharing: A Long Run Issue?," Open Economies Review, Springer, vol. 21(5), pages 705-730, November.
    96. Xu, Xiaoyan & Cheng, Xiaoying & Sun, Yanhong, 2015. "Coordination contracts for outsourcing supply chain with financial constraint," International Journal of Production Economics, Elsevier, vol. 162(C), pages 134-142.
    97. Piotr Denderski & Christian Stoltenberg, 2015. "On Positive Value of Information in Risk Sharing," Tinbergen Institute Discussion Papers 15-074/VI, Tinbergen Institute.
    98. Bos, J.W.B. & Economidou, C. & Zhang, L., 2011. "Specialization in the presence of trade and financial integration: explorations of the integration-specialization nexus," Research Memorandum 026, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).

  26. Yan Bai & Jing Zhang, 2009. "Duration of Sovereign Debt Renegotiation," Working Papers 593, Research Seminar in International Economics, University of Michigan.

    Cited by:

    1. Manuel Amador & Christopher Phelan, 2018. "Reputation and Sovereign Default," NBER Working Papers 24682, National Bureau of Economic Research, Inc.
    2. Christoph Trebesch, 2019. "Resolving sovereign debt crises: the role of political risk," Oxford Economic Papers, Oxford University Press, vol. 71(2), pages 421-444.
    3. Aguiar, M. & Chatterjee, S. & Cole, H. & Stangebye, Z., 2016. "Quantitative Models of Sovereign Debt Crises," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1697-1755, Elsevier.
    4. Marina Azzimonti & Vincenzo Quadrini, 2018. "International Spillovers and Bailouts," NBER Working Papers 25011, National Bureau of Economic Research, Inc.
    5. Kartik Anand & Prasanna Gai, 2019. "Pre-emptive sovereign debt restructuring and holdout litigation," Oxford Economic Papers, Oxford University Press, vol. 71(2), pages 364-381.
    6. Engler, Philipp & Grosse Steffen, Christoph, 2015. "Sovereign risk, interbank freezes, and aggregate fluctuations," Working Paper Series 1840, European Central Bank.
    7. Restrepo-Echavarria, Paulina, 2019. "Endogenous borrowing constraints and stagnation in Latin America," Journal of Economic Dynamics and Control, Elsevier, vol. 109(C).
    8. Ventura, Jaume & Broner, Fernando & Martín, Alberto & Erce, Aitor, 2013. "Sovereign Debt Markets in Turbulent Times: Creditor Discrimination and Crowding-Out Effects," CEPR Discussion Papers 9761, C.E.P.R. Discussion Papers.
    9. Manuel Adelino & Kristopher Gerardi & Paul S. Willen, 2009. "Why don't lenders renegotiate more home mortgages? redefaults, self-cures, and securitization," FRB Atlanta Working Paper 2009-17, Federal Reserve Bank of Atlanta.
    10. Rancière, Romain & , & Asonuma, Tamon, 2017. "Sovereign Bond Prices, Haircuts and Maturity," CEPR Discussion Papers 12252, C.E.P.R. Discussion Papers.
    11. Franck Moraux & Florina Silaghi, 2014. "Inside debt renegotiation: Optimal debt reduction, timing, and the number of rounds," Post-Print halshs-01024229, HAL.
    12. Fernando Broner & Aitor Erce & Alberto Martin & Jaume Ventura, 2013. "Sovereign Debt Markets in Turbulent Times: Creditor Discrimination and Crowding-Out," IMF Working Papers 2013/270, International Monetary Fund.
    13. Prein, Timm, 2019. "Persistent Unemployment, Sovereign Debt Crises, and the Impact of Haircuts," VfS Annual Conference 2019 (Leipzig): 30 Years after the Fall of the Berlin Wall - Democracy and Market Economy 203654, Verein für Socialpolitik / German Economic Association, revised 2019.
    14. Miller, Marcus & Ghosal, Sayantan & Thampanishvong, Kannika, 2016. "Waiting for a haircut? A bargaining perspective on sovereign debt restructuring," CEPR Discussion Papers 11710, C.E.P.R. Discussion Papers.
    15. Bai, Ye & Banerji, Sanjay & Wang, Zilong & Zhang, Wenjing, 2024. "Can participation in IMF programs facilitate sovereign debt rescheduling? The role of program size," Journal of International Money and Finance, Elsevier, vol. 144(C).
    16. Aguiar, Mark & Amador, Manuel, 2014. "Sovereign Debt," Handbook of International Economics, in: Gopinath, G. & Helpman, . & Rogoff, K. (ed.), Handbook of International Economics, edition 1, volume 4, chapter 0, pages 647-687, Elsevier.
    17. Tamon Asonuma & Hyungseok Joo, 2021. "Public Capital and Fiscal Constraint in Sovereign Debt Crises," School of Economics Discussion Papers 0621, School of Economics, University of Surrey.
    18. Nada Azmy Elberry & Frank Naert & Stijn Goeminne, 2023. "Optimal public debt composition during debt crises: A review of theoretical literature," Journal of Economic Surveys, Wiley Blackwell, vol. 37(2), pages 351-376, April.
    19. Demian Pouzo & Ignacio Presno, 2015. "Optimal Taxation with Endogenous Default under Incomplete Markets," Papers 1508.03924, arXiv.org, revised May 2016.
    20. Stefan Avdjiev & Stephan Binder & Ricardo Sousa, 2018. "External debt composition and domestic credit cycles," Working Papers 28, European Stability Mechanism.
    21. Phan, Toan, 2017. "A model of sovereign debt with private information," Journal of Economic Dynamics and Control, Elsevier, vol. 83(C), pages 1-17.
    22. Bulent Guler & Yasin Kursat Onder & Temel Taskin, 2022. "Asymmetric Information and Sovereign Debt Disclosure," CAEPR Working Papers 2022-004 Classification-E, Center for Applied Economics and Policy Research, Department of Economics, Indiana University Bloomington.
    23. Mihalache, Gabriel, 2024. "Comment on “On Wars, Sanctions, and Sovereign Default” by Javier Bianchi and César Sosa-Padilla," Journal of Monetary Economics, Elsevier, vol. 141(C), pages 71-73.
    24. Marina Azzimonti & Vincenzo Quadrini, 2019. "International spillovers and `ex-ante' efficient bailouts," 2019 Meeting Papers 318, Society for Economic Dynamics.
    25. Passadore, Juan & Xu, Yu, 2022. "Illiquidity in sovereign debt markets," Journal of International Economics, Elsevier, vol. 137(C).
    26. Mark Aguiar & Manuel Amador, 2013. "Sovereign Debt: A Review," NBER Working Papers 19388, National Bureau of Economic Research, Inc.
    27. Tamon Asonuma & Hyungseok Joo, 2023. "Sovereign Defaults and Debt Restructurings: Public Capital and Fiscal Constraint Tightness," School of Economics Discussion Papers 0323, School of Economics, University of Surrey.
    28. Pablo Guerron-Quintana & Grey Gordon, 2014. "Municipal Bonds, Default, and Migration in General Equilibrium," 2014 Meeting Papers 868, Society for Economic Dynamics.
    29. Aitor Erce & Enrico Mallucci & Mattia Picarelli, 2022. "A journey in the history of sovereign defaults on domestic-law public debt," Working Papers 51, European Stability Mechanism, revised 28 Mar 2022.
    30. David Benjamin & Mark L J Wright, 2019. "Deconstructing delays in sovereign debt restructuring," Oxford Economic Papers, Oxford University Press, vol. 71(2), pages 382-404.
    31. Mattia Picarelli, 2024. "Sovereign defaults at home and abroad," Working Papers 60, European Stability Mechanism.
    32. Mihalache, Gabriel, 2020. "Sovereign default resolution through maturity extension," Journal of International Economics, Elsevier, vol. 125(C).
    33. Alonso-Ortiz, Jorge & Colla, Esteban & Da-Rocha, Jose-Maria, 2014. "Bounding the productivity default shock : Evidence from the The European Sovereign Debt Crisis," MPRA Paper 59617, University Library of Munich, Germany.
    34. Bulent Guler & Yasin Kürsat Önder & Temel Taskin, 2024. "Sovereign Debt Disclosure," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 24/1094, Ghent University, Faculty of Economics and Business Administration.
    35. Chuku Chuku & Alexandre Kopoin, 2022. "Working Paper 367 - Debt Distress and Recovery Episodes in Africa: Good Policy or Good Luck?," Working Paper Series 2493, African Development Bank.
    36. Juan Passadore, 2015. "Illiquidity in Sovereign Debt Markets," 2015 Meeting Papers 191, Society for Economic Dynamics.
    37. Ghosal, Sayantan & Miller, Marcus & Thampanishvong, Kannika, 2010. "Delay and Haircuts in Sovereign Debt: Recovery and Sustainability," SIRE Discussion Papers 2010-17, Scottish Institute for Research in Economics (SIRE).
    38. Grey Gordon & Pablo Guerrón-Quintana, 2013. "Dynamics of investment, debt, and default," Working Papers 13-18, Federal Reserve Bank of Philadelphia.
    39. Roettger, Joost, 2019. "Discretionary monetary and fiscal policy with endogenous sovereign risk," Journal of Economic Dynamics and Control, Elsevier, vol. 105(C), pages 44-66.
    40. Luo, Jie & Wang, Cheng, 2018. "Optimal sovereign lending and default," Journal of International Economics, Elsevier, vol. 111(C), pages 190-213.

  27. Cristina Arellano & Yan Bai & Jing Zhang, 2009. "Firm dynamics and financial development," Staff Report 392, Federal Reserve Bank of Minneapolis.

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    1. Hernan J Moscoso Boedo & Pablo N D’Erasmo, 2009. "Financial Structure, Informality and Development," Virginia Economics Online Papers 374, University of Virginia, Department of Economics.
    2. Sylvain Catherine & Thomas Chaney & Zongbo Huang & David Sraer & David Thesmar, 2018. "Quantifying Reduced-Form Evidence on Collateral Constraints," Working Papers hal-03393129, HAL.
    3. Kovács, Olivér, 2020. "Gazellák az iparpolitika tükrében, II [Gazelles and industrial policy, Part II]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(2), pages 181-205.
    4. Macnamara, Patrick, 2019. "Taxes and financial frictions: Implications for corporate capital structure," Journal of Economic Dynamics and Control, Elsevier, vol. 101(C), pages 82-100.
    5. Bena, Jan & Ondko, Peter, 2012. "Financial development and the allocation of external finance," Journal of Empirical Finance, Elsevier, vol. 19(1), pages 1-25.
    6. Stephane Verani, 2016. "Aggregate Consequences of Dynamic Credit Relationships," 2016 Meeting Papers 4, Society for Economic Dynamics.
    7. Varela, Liliana & Salomao, Juliana, 2018. "Exchange Rate Exposure and Firm Dynamics," CEPR Discussion Papers 12654, C.E.P.R. Discussion Papers.
    8. Pablo D'Erasmo & Herman J. Moscoso Boedo & Asli Senkal, 2014. "Misallocation, informality, and human capital: understanding the role of institutions," Working Papers 14-11, Federal Reserve Bank of Philadelphia.
    9. Jonathan Goyette & Giovanni Gallipoli, 2012. "Distortions, Efficiency and the Size Distribution of Firms," Cahiers de recherche 12-06, Departement d'économique de l'École de gestion à l'Université de Sherbrooke.
    10. Nicoletta Batini & Paul Levine & Emanuela Lotti & Bo Yang, 2011. "Informality, Frictions and Monetary Policy," School of Economics Discussion Papers 0711, School of Economics, University of Surrey.
    11. Tatiana Didier & Ross Levine & Sergio L. Schmukler, 2015. "Capital Market Financing, Firm Growth, and Firm Size Distribution," Working Papers 172015, Hong Kong Institute for Monetary Research.
    12. Varela, Liliana, 2017. "Sector heterogeneity and credit market imperfections in emerging markets," LSE Research Online Documents on Economics 102061, London School of Economics and Political Science, LSE Library.
    13. Sergio Schmukler & Tatiana Didier, 2013. "The Financing and Growth of Firms in China and India: Evidence from Capital Markets," 2013 Meeting Papers 98, Society for Economic Dynamics.
    14. Cristina Arellano & Yan Bai & Luigi Bocola, 2017. "Sovereign risk and firm heterogeneity," Staff Report 547, Federal Reserve Bank of Minneapolis.
    15. Lilia Aleksanyan & Jean-Pierre Huiban, 2016. "Economic and financial determinants of firm bankruptcy:evidence from the French food industry," Review of Agricultural, Food and Environmental Studies, INRA Department of Economics, vol. 97(2), pages 89-108.
    16. Dean Corbae & Pablo D'Erasmo, 2020. "Reorganization or Liquidation: Bankruptcy Choice and Firm Dynamics," Working Papers 769, Federal Reserve Bank of Minneapolis.
    17. Pablo N. D’Erasmo, 2016. "Access to Credit and the Size of the Formal Sector," Economía Journal, The Latin American and Caribbean Economic Association - LACEA, vol. 0(Spring 20), pages 143-199, April.
    18. Sophie Osotimehin & Francesco Pappada, 2010. "All you Need is Loan. Credit Market Frictions and the Exit of Firms in Recessions," Working Papers 2010-51, Center for Research in Economics and Statistics.
    19. Kartashova, Katya, 2018. "Improving public equity markets? No pain, no gain," Economics Letters, Elsevier, vol. 162(C), pages 69-72.
    20. Satyajit Chatterjee & Burcu Eyigungor, 2022. "The Firm Size-Leverage Relationship and Its Implications for Entry and Business Concentration," Working Papers 22-07, Federal Reserve Bank of Philadelphia.
    21. Epstein, Brendan & Finkelstein Shapiro, Alan, 2018. "Financial Development, Unemployment Volatility, and Sectoral Dynamics," MPRA Paper 88693, University Library of Munich, Germany.
    22. Epstein, Brendan & Finkelstein Shapiro, Alan, 2017. "Banking and Financial Participation Reforms, Labor Markets, and Financial Shocks," MPRA Paper 88697, University Library of Munich, Germany.
    23. Tatiana Didier & Ross Levine & Sergio L. Schmukler, 2014. "Capital Market Financing, Firm Growth, Firm Size Distribution," NBER Working Papers 20336, National Bureau of Economic Research, Inc.
    24. Kalemli-Özcan, Sebnem & di Giovanni, Julian & Ulu, Mehmet Fatih & Baskaya, Yusuf Soner, 2017. "International Spillovers and Local Credit Cycles," CEPR Discussion Papers 11839, C.E.P.R. Discussion Papers.
    25. Rud, Juan Pablo, 2017. "Bankruptcy Choice with Endogenous Financial Constraints," IDB Publications (Working Papers) 8368, Inter-American Development Bank.
    26. Bayar, Yilmaz & Sakar, Emre, 2021. "Impact of Domestic Public Borrowing on Financial Development: Evidence from EU Transition Economies," Asian Journal of Applied Economics, Kasetsart University, Center for Applied Economics Research, vol. 28(1).
    27. Huiyu Li, 2016. "Leverage and Productivity," 2016 Meeting Papers 795, Society for Economic Dynamics.
    28. Gita Gopinath & Şebnem Kalemli-Özcan & Loukas Karabarbounis & Carolina Villegas-Sanchez, 2017. "Capital Allocation and Productivity in South Europe," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 132(4), pages 1915-1967.
    29. Zi-Yi Guo & Yangxiaoteng Luo, 2017. "Credit Constraint Exports in Countries with Different Degrees of Contract Enforcement," Business and Economic Research, Macrothink Institute, vol. 7(1), pages 227-241, June.
    30. Vikash Gautam & Rajendra Vaidya, 2014. "Growth and finance constraints in Indian manufacturing firms," Applied Financial Economics, Taylor & Francis Journals, vol. 24(1), pages 31-40, January.
    31. David Kohn & Fernando Leibovici & Michal Szkup, 2021. "Financial Frictions and International Trade," Working Papers 2021-009, Federal Reserve Bank of St. Louis.
    32. Xu Tian & Dan Lu & Yan Bai, 2016. "Do Financial Frictions Explain Chinese Firms’ Saving and Misallocation," 2016 Meeting Papers 998, Society for Economic Dynamics.
    33. David Kohn & Fernando Leibovici & Michal Szkup, 2014. "Financial frictions and new exporter dynamics," Department of Economics Working Papers 2014_4, Universidad Torcuato Di Tella.
    34. Wang, Kun Tracy & Wu, Yue & Sun, Aonan, 2021. "Acquisitions and the cost of debt: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 78(C).
    35. Eric W. Bond & James Tybout & Hale Utar, 2015. "Credit Rationing, Risk Aversion, And Industrial Evolution In Developing Countries," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 56(3), pages 695-722, August.
    36. Satyajit Chatterjee & Burcu Eyigungor, 2019. "The Firm Size and Leverage Relationship and Its Implications for Entry and Concentration in a Low Interest Rate World," 2019 Meeting Papers 1041, Society for Economic Dynamics.
    37. Guariglia, Alessandra & Tsoukalas, John & Tsoukas, Serafeim, 2012. "Investment, irreversibility, and financing constraints: Evidence from a panel of transition economies," Economics Letters, Elsevier, vol. 117(3), pages 582-584.
    38. Heidi Quah & Janto Haman & Dharmendra Naidu, 2021. "The effect of stock liquidity on investment efficiency under financing constraints and asymmetric information: Evidence from the United States," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(S1), pages 2109-2150, April.
    39. Satyajit Chatterjee & Burcu Eyigungor, 2020. "The Firm Size and Leverage Relationship and Its Implications for Entry and Business Concentration," Working Papers 20-29, Federal Reserve Bank of Philadelphia.
    40. Chahine, Salim & Chidambaran, N.K., 2023. "Do sovereign-bond issuers learn from peers?," Journal of Financial Stability, Elsevier, vol. 67(C).
    41. Xiaoyang Zhu, 2023. "Financial development and declining market dynamics: Another dark side of “too much finance”?," Empirical Economics, Springer, vol. 65(1), pages 275-309, July.
    42. Cristina Arellano & Yan Bai & Luigi Bocola, 2017. "Sovereign Default Risk and Firm Heterogeneity," NBER Working Papers 23314, National Bureau of Economic Research, Inc.
    43. Kwan Yong Lee, 2023. "Financial dependence and exports: Entrants or incumbents?," Southern Economic Journal, John Wiley & Sons, vol. 89(4), pages 1102-1137, April.
    44. Radim Bohacek & Hugo Rodríguez Mendizábal, "undated". "Misallocation of Capital in a Model of Endogenous Financial Intermediation and Insurance," Working Papers 543, Barcelona School of Economics.
    45. Bena, Jan & Ortiz-Molina, Hernán, 2013. "Pyramidal ownership and the creation of new firms," Journal of Financial Economics, Elsevier, vol. 108(3), pages 798-821.
    46. Stephane Verani, 2017. "Online Appendix to "Aggregate Consequences of Dynamic Credit Relationships"," Online Appendices 15-244, Review of Economic Dynamics.
    47. Ananth Ramanarayanan & Cristina Arellano, 2008. "Default and the Maturity Structure in Sovereign Bonds," 2008 Meeting Papers 479, Society for Economic Dynamics.
    48. Tracey, Belinda, 2019. "The real effects of zombie lending in Europe," Bank of England working papers 783, Bank of England, revised 27 May 2021.
    49. Deng, Minjie & Fang, Min, 2022. "Debt maturity heterogeneity and investment responses to monetary policy," European Economic Review, Elsevier, vol. 144(C).
    50. Yan Bai & Dan Lu & Xu Tian, 2018. "Do Financial Frictions Explain Chinese Firms’ Saving and Misallocation?," NBER Working Papers 24436, National Bureau of Economic Research, Inc.
    51. Murmann Johann Peter & Korn Jenny & Worch Hagen, 2014. "How Fast Can Firms Grow?," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 234(2-3), pages 210-233, April.
    52. Cotter, Christopher & Rousseau, Peter L. & Vu, Nam T., 2021. "Electrification, telecommunications, and the finance-growth nexus: Evidence from firm-level data," Energy Economics, Elsevier, vol. 94(C).
    53. Brückner, Markus, 2010. "Financial determinants of firm dynamics: Evidence from a European panel," Economics Letters, Elsevier, vol. 107(1), pages 63-65, April.
    54. Alan Finkelstein Shapiro & Brendan Epstein, 2018. "Banking and Financial Access Reforms, Labor Markets, and Financial Shocks," 2018 Meeting Papers 2, Society for Economic Dynamics.
    55. Kovalenko, Tim, 2021. "Uncertainty shocks and employment fluctuations in Germany: The role of establishment size," Discussion Papers 119, Friedrich-Alexander University Erlangen-Nuremberg, Chair of Labour and Regional Economics.
    56. Bernardo Morais, 2015. "Risk, Financial Development and Firm Dynamics," International Finance Discussion Papers 1134, Board of Governors of the Federal Reserve System (U.S.).
    57. Marios Karabarbounis & Patrick Macnamara, 2021. "Misallocation and Financial Frictions: the Role of Long-Term Financing," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 40, pages 44-63, April.
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    64. Grechyna, Daryna, 2018. "Firm size, bank size, and financial development," Journal of Economic Dynamics and Control, Elsevier, vol. 97(C), pages 19-37.
    65. GHANEM, Yasmina & ACHOUCHE, Mohamed, 2015. "Impact du développement financier sur la dynamique de création des entreprises : évidence en données de panel sur les pays du MENA [Financial development impact on firm dynamic creation: panel data," MPRA Paper 68125, University Library of Munich, Germany.
    66. Maria D. Tito & Ruoying Wang, 2017. "Exporting and Frictions in Input Markets : Evidence from Chinese Data," Finance and Economics Discussion Series 2017-077, Board of Governors of the Federal Reserve System (U.S.).
    67. Anil Rupasingha & Kyungsoon Wang, 2017. "Access to capital and small business growth: evidence from CRA loans data," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 59(1), pages 15-41, July.
    68. Hernan J Moscoso Boedo & Asli Senkal & Pablo D'Erasmo, 2011. "Misallocation, Informality and Human Capital," 2011 Meeting Papers 881, Society for Economic Dynamics.
    69. T. Grjebine & U. Szczerbowicz & F. Tripier, 2017. "Corporate Debt Structure and Economic Recoveries," Working papers 646, Banque de France.
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    72. Han, Wontae & Wang, Jian & Wang, Xiao, 2022. "FDI and firm productivity in host countries: The role of financial constraints," Journal of International Money and Finance, Elsevier, vol. 124(C).
    73. Kim Huynh & Robert Petrunia & Joel Rodrigue & Walter Steingress, 2023. "Exporting and Investment Under Credit Constraints," Staff Working Papers 23-10, Bank of Canada.
    74. Boeri, Tito & Garibaldi, Pietro & Moen, Espen R., 2015. "Financial Frictions, Financial Shocks and Unemployment Volatility," CEPR Discussion Papers 10648, C.E.P.R. Discussion Papers.
    75. Costas Arkolakis, 2011. "A Unified Theory of Firm Selection and Growth," NBER Working Papers 17553, National Bureau of Economic Research, Inc.
    76. Kaoru Hosono & Miho Takizawa, 2012. "Do Financial Frictions Matter as a Source of Misallocation? Evidence from Japan," Discussion papers ron246, Policy Research Institute, Ministry of Finance Japan.
    77. Li, Huiyu, 2022. "Leverage and productivity," Journal of Development Economics, Elsevier, vol. 154(C).
    78. Satyajit Chatterjee & Burcu Eyigungor, 2022. "Online Appendix to "The Firm Size-Leverage Relationship and Its Implications for Entry and Business Concentration"," Online Appendices 21-40, Review of Economic Dynamics.
    79. Liu, Jinjing & Wang, Hong, 2022. "Economic policy uncertainty and the cost of capital," International Review of Financial Analysis, Elsevier, vol. 81(C).
    80. A. Penalver, 2014. "Pre-crisis credit standards: monetary policy or the savings glut?," Working papers 519, Banque de France.
    81. Alessandra Guariglia & John Tsoukalas & Serafeim Tsoukas, 2010. "Investment, irreversibility, and financing constraints in transition economies," Discussion Papers 10/03, University of Nottingham, School of Economics.
    82. Huynh, Kim P. & Petrunia, Robert J., 2010. "Age effects, leverage and firm growth," Journal of Economic Dynamics and Control, Elsevier, vol. 34(5), pages 1003-1013, May.
    83. Tim Kovalenko, 2021. "Uncertainty shocks and employment fluctuations in Germany: the role of establishment size," Working Papers 212, Bavarian Graduate Program in Economics (BGPE).
    84. Xu Tian, 2022. "Uncertainty and the Shadow Banking Crisis: Estimates from a Dynamic Model," Management Science, INFORMS, vol. 68(2), pages 1469-1496, February.
    85. Nam, Changwoo, 2021. "Social Welfare Analysis of Policy-based Finance with Support for Corporate Loan Interest," KDI Journal of Economic Policy, Korea Development Institute (KDI), vol. 43(4), pages 45-67.

Articles

  1. Enrique G. Mendoza & Eugenio Rojas & Linda L. Tesar & Jing Zhang, 2023. "A Macroeconomic Model of Healthcare Saturation, Inequality and the Output–Pandemia Trade-off," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 71(1), pages 243-299, March.
    See citations under working paper version above.
  2. Yun Jung Kim & Jing Zhang, 2023. "International Capital Flows: Private Versus Public Flows In Developing And Developed Countries," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 64(1), pages 225-260, February.
    See citations under working paper version above.
  3. Bart Hobijn & Russell Miles & James Royal & Jing Zhang, 2022. "What Is Driving U.S. Inflation amid a Global Inflation Surge?," Chicago Fed Letter, Federal Reserve Bank of Chicago, August.

    Cited by:

    1. Kyriazis, Nikolaos & Papadamou, Stephanos & Tzeremes, Panayiotis & Corbet, Shaen, 2024. "Examining spillovers and connectedness among commodities, inflation, and uncertainty: A quantile-VAR framework," Energy Economics, Elsevier, vol. 133(C).

  4. Logan T Lewis & Ryan Monarch & Michael Sposi & Jing Zhang, 2022. "Structural Change and Global Trade," Journal of the European Economic Association, European Economic Association, vol. 20(1), pages 476-512.
    See citations under working paper version above.
  5. Yun Jung Kim & Jing Zhang, 2021. "The Relationship Between Debt and Output," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 69(1), pages 230-257, March.
    See citations under working paper version above.
  6. Michael Sposi & Kei-Mu Yi & Jing Zhang, 2021. "Trade Integration, Global Value Chains, and Capital Accumulation," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 69(3), pages 505-539, September.
    See citations under working paper version above.
  7. Caroline Beetz Fenske & Yun Jung Kim & Jing Zhang, 2021. "The dynamic relationship between global debt and output," Chicago Fed Letter, Federal Reserve Bank of Chicago, issue 457, pages 1-5, May.

    Cited by:

    1. Mohamed Bouabidi, 2023. "The surge in Tunisia foreign debt: causes and possible ways out," SN Business & Economics, Springer, vol. 3(3), pages 1-23, March.

  8. Kimball, Miles S. & Shapiro, Matthew D. & Shumway, Tyler & Zhang, Jing, 2020. "Portfolio rebalancing in general equilibrium," Journal of Financial Economics, Elsevier, vol. 135(3), pages 816-834.
    See citations under working paper version above.
  9. Kei-Mu Yi & Jing Zhang, 2017. "Understanding Global Trends in Long-run Real Interest Rates," Economic Perspectives, Federal Reserve Bank of Chicago, issue 2, pages 1-20.

    Cited by:

    1. Matthew O'Donnell & Aleksandar Vasilev, 2024. "How do interest rates effect consumption in the UK?," EERI Research Paper Series EERI RP 2024/01, Economics and Econometrics Research Institute (EERI), Brussels.
    2. Nasir, Muhammad Ali, 2021. "Zero Lower Bound and negative interest rates: Choices for monetary policy in the UK," Journal of Policy Modeling, Elsevier, vol. 43(1), pages 200-229.
    3. Campbell, Jeffrey R. & Ferroni, Filippo & Fisher, Jonas D.M. & Melosi, Leonardo, 2019. "The limits of forward guidance," Journal of Monetary Economics, Elsevier, vol. 108(C), pages 118-134.
    4. Bassetto, Marco & Cui, Wei, 2018. "The fiscal theory of the price level in a world of low interest rates," Journal of Economic Dynamics and Control, Elsevier, vol. 89(C), pages 5-22.
    5. Karel Brůna & Jiří Pour, 2023. "Population aging and structural over/underinvestment," Economic Change and Restructuring, Springer, vol. 56(4), pages 2339-2383, August.
    6. Jiří Pour, 2020. "Analýza relativní přeinvestovanosti či podinvestovanosti ekonomik na panelových datech 122 zemí světa [Analysis of Relative Over-investment and Under-investment of Economies on Panel Data for 122 C," Politická ekonomie, Prague University of Economics and Business, vol. 2020(3), pages 290-321.

  10. Levchenko, Andrei A. & Zhang, Jing, 2016. "The evolution of comparative advantage: Measurement and welfare implications," Journal of Monetary Economics, Elsevier, vol. 78(C), pages 96-111.
    See citations under working paper version above.
  11. Kim, Yun Jung & Tesar, Linda L. & Zhang, Jing, 2015. "The impact of foreign liabilities on small firms: Firm-level evidence from the Korean crisis," Journal of International Economics, Elsevier, vol. 97(2), pages 209-230.
    See citations under working paper version above.
  12. Julian di Giovanni & Andrei A. Levchenko & Jing Zhang, 2014. "The Global Welfare Impact of China: Trade Integration and Technological Change," American Economic Journal: Macroeconomics, American Economic Association, vol. 6(3), pages 153-183, July.
    See citations under working paper version above.
  13. Levchenko, Andrei A. & Zhang, Jing, 2014. "Ricardian productivity differences and the gains from trade," European Economic Review, Elsevier, vol. 65(C), pages 45-65.
    See citations under working paper version above.
  14. Uy, Timothy & Yi, Kei-Mu & Zhang, Jing, 2013. "Structural change in an open economy," Journal of Monetary Economics, Elsevier, vol. 60(6), pages 667-682.
    See citations under working paper version above.
  15. Andrei A Levchenko & Jing Zhang, 2013. "The Global Labor Market Impact of Emerging Giants: A Quantitative Assessment," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 61(3), pages 479-519, August.
    See citations under working paper version above.
  16. Arellano, Cristina & Bai, Yan & Zhang, Jing, 2012. "Firm dynamics and financial development," Journal of Monetary Economics, Elsevier, vol. 59(6), pages 533-549.
    See citations under working paper version above.
  17. Bai, Yan & Zhang, Jing, 2012. "Financial integration and international risk sharing," Journal of International Economics, Elsevier, vol. 86(1), pages 17-32.
    See citations under working paper version above.
  18. Bai, Yan & Zhang, Jing, 2012. "Duration of sovereign debt renegotiation," Journal of International Economics, Elsevier, vol. 86(2), pages 252-268.
    See citations under working paper version above.
  19. Andrei A. Levchenko & Jing Zhang, 2012. "Comparative advantage and the welfare impact of European integration [General equilibrium analysis of the Eaton–Kortum model of international trade]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 27(72), pages 567-602.
    See citations under working paper version above.
  20. Kim, Yun Jung & Zhang, Jing, 2012. "Decentralized borrowing and centralized default," Journal of International Economics, Elsevier, vol. 88(1), pages 121-133.
    See citations under working paper version above.
  21. Yan Bai & Jing Zhang, 2010. "Solving the Feldstein-Horioka Puzzle With Financial Frictions," Econometrica, Econometric Society, vol. 78(2), pages 603-632, March.

    Cited by:

    1. Manuchehr Irandoust, 2019. "Saving and investment causality: implications for financial integration in transition countries of Eastern Europe," International Economics and Economic Policy, Springer, vol. 16(2), pages 397-416, April.
    2. Michael Sposi, 2019. "Demographics and the Evolution of Global Imbalances," Departmental Working Papers 1906, Southern Methodist University, Department of Economics.
    3. Harutaka Takahashi, 2020. "A dynamic theory of the Feldstein-Horioka puzzle and financial frictions: Re-estimation of the saving retention coefficient," Discussion Papers 2007, Graduate School of Economics, Kobe University.
    4. Yan Bai & Jing Zhang, 2006. "Financial Integration and International Risk Sharing," 2006 Meeting Papers 371, Society for Economic Dynamics.
    5. François Le Grand & Xavier Ragot, 2017. "Sovereign Default and Liquidity: the Case for a World Safe Asset," Working Papers hal-03471758, HAL.
    6. Georgy Kartashov, 2007. "Economic growth and institutional quality in resource oriented countries (in Russian)," Quantile, Quantile, issue 2, pages 141-157, March.
    7. Durdu, C. Bora & Nunes, Ricardo & Sapriza, Horacio, 2013. "News and sovereign default risk in small open economies," Journal of International Economics, Elsevier, vol. 91(1), pages 1-17.
    8. Ma, Wei & Li, Haiqi, 2016. "Time-varying saving–investment relationship and the Feldstein–Horioka puzzle," Economic Modelling, Elsevier, vol. 53(C), pages 166-178.
    9. Ricardo Reyes-Heroles, 2017. "The Role of Trade Costs in the Surge of Trade Imbalances," 2017 Meeting Papers 212, Society for Economic Dynamics.
    10. Chen, Kuan-Jen & Chu, Angus C. & Lai, Ching-Chong, 2014. "Home Production and Small Open Economy Business Cycles," MPRA Paper 59020, University Library of Munich, Germany.
    11. Mr. Jaewoo Lee & Yongsung Chang & Sun-Bin Kim, 2009. "Accounting for Global Dispersion of Current Accounts," IMF Working Papers 2009/276, International Monetary Fund.
    12. Coeurdacier, Nicolas & Rey, Hélène & Winant, Pablo, 2020. "Financial integration and growth in a risky world," Journal of Monetary Economics, Elsevier, vol. 112(C), pages 1-21.
    13. Christophe Tavéra & Jean-Christophe Poutineau & Jean-Sébastien Pentecôte & Isabelle Cadoret & Arthur Charpentier, 2015. "The “mother of all puzzles” at thirty: A meta-analysis," International Economics, CEPII research center, issue 141, pages 80-96.
    14. Gruber, Noam, 2020. "A Relative Answer to the Growth-Saving Puzzle," MPRA Paper 103349, University Library of Munich, Germany.
    15. Drakos, Anastassios A. & Kouretas, Georgios P. & Stavroyiannis, Stavros & Zarangas, Leonidas, 2017. "Is the Feldstein-Horioka puzzle still with us? National saving-investment dynamics and international capital mobility: A panel data analysis across EU member countries," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 47(C), pages 76-88.
    16. Jacek Rothert & Jacob Short, 2014. "Non-Traded Goods and Capital Flows to Developing Countries," Departmental Working Papers 47, United States Naval Academy Department of Economics.
    17. Carré, Sylvain & Cohen, Daniel & Villemot, Sébastien, 2019. "The sources of sovereign risk: a calibration based on Lévy stochastic processes," Journal of International Economics, Elsevier, vol. 118(C), pages 31-43.
    18. Rebelo, Sérgio & Wang, Neng & Yang, Jinqiang, 2018. "Rare Disasters, Financial Development, and Sovereign Debt," CEPR Discussion Papers 13202, C.E.P.R. Discussion Papers.
    19. Lee E. Ohanian & Paulina Restrepo-Echavarria & Mark L. J. Wright, 2015. "Bad Investments and Missed Opportunities? Postwar Capital Flows to Asia and Latin America," NBER Working Papers 21744, National Bureau of Economic Research, Inc.
    20. Jose Perez-Montiel & Carles Manera Erbina, 2019. "Investment Sustained by Consumption: A Linear and Nonlinear Time Series Analysis," Sustainability, MDPI, vol. 11(16), pages 1-15, August.
    21. Yan Bai & Jing Zhang & Cristina Arellano, 2009. "Firm Dynamics and Financial Development," 2009 Meeting Papers 152, Society for Economic Dynamics.
    22. Yan Bai & Jing Zhang, 2009. "Duration of Sovereign Debt Renegotiation," Working Papers 593, Research Seminar in International Economics, University of Michigan.
    23. Fernando Broner & Jaume Ventura, 2015. "Rethinking the Effects of Financial Liberalization," Working Papers 509, Barcelona School of Economics.
    24. Restrepo-Echavarria, Paulina, 2019. "Endogenous borrowing constraints and stagnation in Latin America," Journal of Economic Dynamics and Control, Elsevier, vol. 109(C).
    25. D’Erasmo, Pablo & Mendoza, Enrique G., 2021. "History remembered: Optimal sovereign default on domestic and external debt," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 969-989.
    26. Zhigang Feng & Jianjun Miao & Adrian Peralta-Alva & Manuel S. Santos, 2009. "Numerical simulation of nonoptimal dynamic equilibrium models," Working Papers 2009-018, Federal Reserve Bank of St. Louis.
    27. But, Boris & Morley, Bruce, 2017. "The Feldstein-Horioka puzzle and capital mobility: The role of the recent financial crisis," Economic Systems, Elsevier, vol. 41(1), pages 139-150.
    28. Nicolas Debarsy & Cem Ertur, 2010. "Testing for Spatial Autocorrelation in a Fixed Effects Panel Data Model," Post-Print halshs-00414133, HAL.
    29. V. Filipe Martins-da-Rocha & Toan Phan & Yiannis Vailakis, 2019. "Debt Limits and Credit Bubbles in General Equilibrium," Working Paper 19-19, Federal Reserve Bank of Richmond.
    30. Epstein, Brendan & Mukherjee, Rahul & Ramnath, Shanthi, 2016. "Taxes and international risk sharing," Journal of International Economics, Elsevier, vol. 102(C), pages 310-326.
    31. Margarita Katsimi & Gylfi Zoega, 2016. "European Integration and the Feldstein–Horioka Puzzle," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 78(6), pages 834-852, December.
    32. Binlei Gong, 2020. "New Growth Accounting," American Journal of Agricultural Economics, John Wiley & Sons, vol. 102(2), pages 641-661, March.
    33. Jing Zhang & Yun Jung Kim, 2010. "Decentralized Borrowing and Centralized Default," 2010 Meeting Papers 1288, Society for Economic Dynamics.
    34. Castro, Rui & Koumtingué, Nelnan, 2014. "On the individual optimality of economic integration," Journal of Monetary Economics, Elsevier, vol. 68(C), pages 115-135.
    35. Yun Jung Kim & Jing Zhang, 2020. "International Capital Flows: Private Versus Public Flows in Developing and Developed Countries," Working Paper Series WP-2020-27, Federal Reserve Bank of Chicago.
    36. Jonathan Eaton & Samuel S. Kortum & Brent Neiman, 2015. "Obstfeld and Rogoff's International Macro Puzzles: A Quantitative Assessment," NBER Working Papers 21774, National Bureau of Economic Research, Inc.
    37. Alessandria, George & Bai, Yan & Deng, Minjie, 2020. "Migration and sovereign default risk," Journal of Monetary Economics, Elsevier, vol. 113(C), pages 1-22.
    38. Ergys Islamaj & M. Ayhan Kose, 2021. "What types of capital flows help improve international risk sharing?," CAMA Working Papers 2021-96, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    39. Vasudeva N. R. Murthy & Natalya Ketenci, 2020. "Capital mobility in Latin American and Caribbean countries: new evidence from dynamic common correlated effects panel data modeling," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 6(1), pages 1-17, December.
    40. Mu-Shun Wang, 2013. "An Investigation of the Feldstein–Horioka Puzzle for the Association of Southeast Asian Nations Economies," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 46(4), pages /, December.
    41. Charles Engel & Jungjae Park, 2018. "Debauchery and Original Sin: The Currency Composition of Sovereign Debt," GRU Working Paper Series GRU_2018_008, City University of Hong Kong, Department of Economics and Finance, Global Research Unit.
    42. Lee E. Ohanian & Paulina Restrepo-Echavarria & Diana Van Patten & Mark L. J. Wright, 2019. "Bretton Woods and the Reconstruction of Europe," Working Papers 2019-30, Federal Reserve Bank of St. Louis.
    43. Hwang, Sun Ho & Kim, Yun Jung, 2018. "Capital mobility in OECD countries: A multi-level factor approach to saving–investment correlations," Economic Modelling, Elsevier, vol. 69(C), pages 150-159.
    44. Lee E. Ohanian & Paulina Restrepo-Echavarria & Diana Van Patten & Mark L.J. Wright, 2023. "The Impact of Bretton Woods International Capital Controls on the Global Economy and the Value of Geopolitical Stability: A General Equilibrium Analysis," NBER Working Papers 31595, National Bureau of Economic Research, Inc.
    45. Mariam Camarero & Juan Sapena & Cecilio Tamarit, 2018. "FH Puzzle in the Eurozone: A time-varying analysis Preliminary Draft," Working Papers 1813, Department of Applied Economics II, Universidad de Valencia.
    46. Busl, Claudia & Iliewa, Zwetelina & Jokisch, Sabine & Kappler, Marcus & Roscher, Thomas & Schindler, Felix & Schleer, Frauke, 2012. "Endbericht an das Bundesministerium der Finanzen zum Forschungsauftrag fe 11/11: "Sparen und Investieren vor dem Hintergrund des demografischen Wandels"," ZEW Expertises, ZEW - Leibniz Centre for European Economic Research, number 110554.
    47. Michael Sposi & Kei-Mu Yi & Jing Zhang, 2021. "Trade Integration, Global Value Chains, and Capital Accumulation," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 69(3), pages 505-539, September.
    48. Claudio Borio & Piti Disyatat, 2016. "Capital Flows and the Current Account: Taking Financing (More) Seriously," PIER Discussion Papers 14, Puey Ungphakorn Institute for Economic Research.
    49. Joseph Steinberg, 2017. "Online Appendix to "International Portfolio Diversification and the Structure of Global Production"," Online Appendices 16-74, Review of Economic Dynamics.
    50. Erauskin, Iñaki, 2015. "Savings, the size of the net foreign asset position, and the dynamics of current accounts," International Review of Economics & Finance, Elsevier, vol. 39(C), pages 353-370.
    51. Dilem Yıldırım & Onur A. Koska, 2018. "Puzzling out the Feldstein-Horioka Paradox for Turkey by a Time-Varying Parameter Approach," ERC Working Papers 1808, ERC - Economic Research Center, Middle East Technical University, revised Apr 2018.
    52. Polbin Andrey & Rybak Konstantin & Zubarev Andrey, 2020. "Capital mobility in commodity-exporting economies," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 24(5), pages 1-10, December.
    53. Chang, Yanqin & Smith, R. Todd, 2014. "Feldstein–Horioka puzzles," European Economic Review, Elsevier, vol. 72(C), pages 98-112.
    54. xavier Ragot & Francois Le Grand, 2018. "Sovereign Default and Liquidity: The Case for a World Safe," 2018 Meeting Papers 889, Society for Economic Dynamics.
    55. Yunus Aksoy & Tobias Grasl & Ron P. Smith, 2012. "The Economic Impact of Demographic Structure in OECD Countries," CESifo Working Paper Series 3960, CESifo.
    56. Bernardo Guimaraes & Lucas Tumkus, 2020. "On the costs of sovereign default in quantitative models," Discussion Papers 2021, Centre for Macroeconomics (CFM).
    57. Rothert, Jacek, 2016. "On the savings wedge in international capital flows," Economics Letters, Elsevier, vol. 145(C), pages 126-129.
    58. Victor Filipe Martins da Rocha & Yiannis Vailakis, 2014. "Self-enforcing Debt, Reputation, and the Role of Interest Rates," Working Papers hal-01097114, HAL.
    59. Yu, Changhua, 2015. "Evaluating international financial integration in a center-periphery economy," Journal of International Economics, Elsevier, vol. 95(1), pages 129-144.
    60. Chu, Kam Hon, 2012. "The Feldstein-Horioka Puzzle and Spurious Ratio Correlation," Journal of International Money and Finance, Elsevier, vol. 31(2), pages 292-309.
    61. Lim, Jamus Jerome, 2013. "Institutional and structural determinants of investment worldwide," Policy Research Working Paper Series 6591, The World Bank.
    62. Clemens C. Struck & Adnan Velic, 2019. "Competing Gains From Trade," Working Papers 201909, School of Economics, University College Dublin.
    63. Bahadir, Berrak & Lastrapes, William D., 2015. "Emerging market economies and the world interest rate," Journal of International Money and Finance, Elsevier, vol. 58(C), pages 1-28.
    64. Jacek Rothert & Jacob Short, 2023. "Non-Traded Goods, Factor Markets Frictions, and International Capital Flows," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 48, pages 158-177, April.
    65. Makin, Anthony J. & Ratnasiri, Shyama, 2023. "New estimates of international capital mobility for select OECD economies," International Review of Economics & Finance, Elsevier, vol. 86(C), pages 127-138.
    66. Demian Pouzo & Ignacio Presno, 2020. "Optimal Taxation with Endogenous Default under Incomplete Markets," International Finance Discussion Papers 1297, Board of Governors of the Federal Reserve System (U.S.).
    67. Victor Filipe Martins da Rocha & Yiannis Vailakis, 2017. "On the Sovereign Debt Paradox," Post-Print hal-01097118, HAL.
    68. Grey Gordon & Pablo Guerrón-Quintana, 2013. "Dynamics of investment, debt, and default," Working Papers 13-18, Federal Reserve Bank of Philadelphia.
    69. Martins, António, 2024. "Macro fundamentals and the resurgence of the Feldstein–Horioka puzzle in Europe," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 93(C).
    70. Weiping Li & Guotai Chi & Lan Wu, 2015. "Empirical Study on Saving and Investment Relation in China: 1952¡ª2011," Review of Economics & Finance, Better Advances Press, Canada, vol. 5, pages 81-99, May.
    71. Víctor-Hugo Alcalá Ríos & Manuel Gómez Zaldívar & Daniel Ventosa-Santaulà ria, 2011. "Paradoja Feldstein-Horioka: el caso de México (1950-2007)," Estudios Económicos, El Colegio de México, Centro de Estudios Económicos, vol. 26(2), pages 293-313.
    72. Lixin Tang, 2014. "Top Income Inequality, Aggregate Saving and the Gains from Trade," 2014 Papers pta581, Job Market Papers.
    73. Fernando Broner & Jaume Ventura, 2016. "Rethinking the Effects of Financial Globalization," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 131(3), pages 1497-1542.
    74. Hamid Raza & Gylfi Zoega & Stephen Kinsella, 2015. "Capital controls, financial crisis and the investment saving nexus:Evidence from Iceland," Working Papers 201518, Geary Institute, University College Dublin.
    75. Chen, Shyh-Wei & Shen, Chung-Hua, 2015. "Revisiting the Feldstein–Horioka puzzle with regime switching: New evidence from European countries," Economic Modelling, Elsevier, vol. 49(C), pages 260-269.

Chapters

  1. D’Erasmo, P. & Mendoza, E.G. & Zhang, J., 2016. "What is a Sustainable Public Debt?," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 2493-2597, Elsevier.
    See citations under working paper version above.Sorry, no citations of chapters recorded.
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