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Details about Yan Bai

Homepage:https://sites.google.com/site/yanbai06/
Postal address:203 Harkness Hall Department of Economics University of Rochester Rochester, NY 14627 USA
Workplace:Economics Department, University of Rochester, (more information at EDIRC)

Access statistics for papers by Yan Bai.

Last updated 2025-02-11. Update your information in the RePEc Author Service.

Short-id: pba291


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Working Papers

2025

  1. A Neoclassical Model of the World Financial Cycle
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads

2024

  1. Demand Shocks as Technology Shocks
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (2)
  2. Misallocation under trade liberalization
    LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library Downloads View citations (1)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2019) Downloads View citations (23)

    See also Journal Article Misallocation under Trade Liberalization, American Economic Review, American Economic Association (2024) Downloads View citations (1) (2024)
  3. Optimal Trade Policies and Labor Markets
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
  4. Optimal Trade Policy with International Technology Diffusion
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
    See also Journal Article Optimal trade policy with international technology diffusion, Journal of International Economics, Elsevier (2025) Downloads (2025)
  5. Unbalanced Trade: Is Growing Dispersion from Financial or Trade Reforms?
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads

2023

  1. Technological Rivalry and Optimal Dynamic Policy in an Open Economy
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads

2021

  1. COVID-19 Vaccination and Financial Frictions
    Staff Report, Federal Reserve Bank of Minneapolis Downloads
    See also Journal Article COVID-19 Vaccination and Financial Frictions, IMF Economic Review, Palgrave Macmillan (2023) Downloads (2023)
  2. Deadly Debt Crises: COVID-19 in Emerging Markets
    Department of Economics Working Papers, Stony Brook University, Department of Economics Downloads View citations (5)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2020) Downloads View citations (50)
    Staff Report, Federal Reserve Bank of Minneapolis (2020) Downloads View citations (30)

    See also Journal Article Deadly Debt Crises: COVID-19 in Emerging Markets, The Review of Economic Studies, Review of Economic Studies Ltd (2024) Downloads (2024)

2020

  1. Monetary Policy and Sovereign Risk in Emerging Economies (NK-Default)
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (19)
    Also in Department of Economics Working Papers, Stony Brook University, Department of Economics (2019) Downloads View citations (12)
    2018 Meeting Papers, Society for Economic Dynamics (2018) Downloads View citations (2)
    Department of Economics Working Papers, Stony Brook University, Department of Economics (2019) Downloads View citations (7)
    Staff Report, Federal Reserve Bank of Minneapolis (2020) Downloads View citations (13)

2019

  1. Inflation Targeting with Sovereign Default Risk
    2019 Meeting Papers, Society for Economic Dynamics View citations (1)
    Also in Department of Economics Working Papers, Stony Brook University, Department of Economics (2018) Downloads View citations (4)
  2. Sovereign Default Risk and Migration
    2019 Meeting Papers, Society for Economic Dynamics Downloads View citations (2)
  3. World financial cycles
    2019 Meeting Papers, Society for Economic Dynamics Downloads View citations (8)

2018

  1. Do Financial Frictions Explain Chinese Firms’ Saving and Misallocation?
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (15)

2017

  1. Appendix for Financial Frictions and Fluctuations in Volatility
    Staff Report, Federal Reserve Bank of Minneapolis Downloads
  2. Default Risk, Sectoral Reallocation and Persistent Recessions
    Staff Report, Federal Reserve Bank of Minneapolis Downloads View citations (2)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2017) Downloads View citations (3)
    Department of Economics Working Papers, Stony Brook University, Department of Economics (2017) Downloads View citations (4)

    See also Chapter Default Risk, Sectoral Reallocation, and Persistent Recessions, NBER Chapters, National Bureau of Economic Research, Inc (2017) View citations (3) (2017)
    Journal Article Default risk, sectoral reallocation, and persistent recessions, Journal of International Economics, Elsevier (2018) Downloads View citations (31) (2018)
  3. Sovereign Default Risk and Firm Heterogeneity
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (26)
  4. Sovereign Risk Contagion
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (14)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2017) Downloads View citations (5)
  5. Sovereign risk and firm heterogeneity
    Staff Report, Federal Reserve Bank of Minneapolis Downloads
  6. The Payment Schedule of Sovereign Debt
    Department of Economics Working Papers, Stony Brook University, Department of Economics Downloads View citations (5)
    See also Journal Article The payment schedule of sovereign debt, Economics Letters, Elsevier (2017) Downloads View citations (6) (2017)

2016

  1. Do Financial Frictions Explain Chinese Firms’ Saving and Misallocation
    2016 Meeting Papers, Society for Economic Dynamics Downloads View citations (5)
  2. Financial Frictions and Fluctuations in Volatility
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (53)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2012) Downloads View citations (51)

    See also Journal Article Financial Frictions and Fluctuations in Volatility, Journal of Political Economy, University of Chicago Press (2019) Downloads View citations (153) (2019)
  3. Fiscal Austerity during Debt Crises
    Staff Report, Federal Reserve Bank of Minneapolis Downloads View citations (14)
    See also Journal Article Fiscal austerity during debt crises, Economic Theory, Springer (2017) Downloads View citations (30) (2017)
  4. Private Leverage and Sovereign Default
    2016 Meeting Papers, Society for Economic Dynamics Downloads

2015

  1. The Maturity and Payment Schedule of Sovereign Debt
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (14)
    Also in 2014 Meeting Papers, Society for Economic Dynamics (2014) Downloads View citations (8)

2014

  1. Credibility and the Maturity of Government Debt
    2014 Meeting Papers, Society for Economic Dynamics
  2. Renegotiation Policies in Sovereign Defaults
    Staff Report, Federal Reserve Bank of Minneapolis Downloads View citations (5)
    See also Journal Article Renegotiation Policies in Sovereign Defaults, American Economic Review, American Economic Association (2014) Downloads View citations (5) (2014)

2013

  1. Demand shocks and open economy puzzles
    2013 Meeting Papers, Society for Economic Dynamics Downloads
    See also Journal Article Demand Shocks and Open Economy Puzzles, American Economic Review, American Economic Association (2015) Downloads View citations (17) (2015)
  2. Linkages across Sovereign Debt Markets
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (18)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2013) Downloads View citations (17)
    2012 Meeting Papers, Society for Economic Dynamics (2012) Downloads View citations (4)

2011

  1. Demand Shocks that Look Like Productivity Shocks
    2011 Meeting Papers, Society for Economic Dynamics Downloads View citations (29)
  2. Financial Markets and Fluctuations in Uncertainty
    2011 Meeting Papers, Society for Economic Dynamics Downloads View citations (49)

2010

  1. Financial Crises and Fluctuations in Uncertainty
    2010 Meeting Papers, Society for Economic Dynamics
  2. World Trade During Financial Crises
    2010 Meeting Papers, Society for Economic Dynamics

2009

  1. Duration of Sovereign Debt Renegotiation
    Working Papers, Research Seminar in International Economics, University of Michigan Downloads View citations (5)
    See also Journal Article Duration of sovereign debt renegotiation, Journal of International Economics, Elsevier (2012) Downloads View citations (52) (2012)
  2. Financial Integration and International Risk Sharing
    Working Papers, Research Seminar in International Economics, University of Michigan Downloads View citations (18)
    Also in 2006 Meeting Papers, Society for Economic Dynamics (2006) Downloads View citations (17)

    See also Journal Article Financial integration and international risk sharing, Journal of International Economics, Elsevier (2012) Downloads View citations (96) (2012)
  3. Firm Dynamics and Financial Development
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (10)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2009) Downloads View citations (16)
    2009 Meeting Papers, Society for Economic Dynamics (2009) View citations (10)

    See also Journal Article Firm dynamics and financial development, Journal of Monetary Economics, Elsevier (2012) Downloads View citations (91) (2012)
  4. What is the Relationship between Competition and Productivity
    2009 Meeting Papers, Society for Economic Dynamics Downloads View citations (1)

2008

  1. Renegotiation and Coordination: Sovereign Default in 1980s and 1990s
    2008 Meeting Papers, Society for Economic Dynamics

2007

  1. Contract Enforcement and Firms'd5 FinancingContract Enforcement and Firms'd5 Financing
    Working Papers, Research Seminar in International Economics, University of Michigan Downloads
  2. Enforcement, Incomplete Contracts, and Firm Dynamics
    2007 Meeting Papers, Society for Economic Dynamics

2006

  1. Coordination and Renegotiation: Sovereign Defaults in 1980s and 1990s
    2006 Meeting Papers, Society for Economic Dynamics

Journal Articles

2025

  1. Optimal trade policy with international technology diffusion
    Journal of International Economics, 2025, 153, (C) Downloads
    See also Working Paper Optimal Trade Policy with International Technology Diffusion, NBER Working Papers (2024) Downloads (2024)

2024

  1. Deadly Debt Crises: COVID-19 in Emerging Markets
    The Review of Economic Studies, 2024, 91, (3), 1243-1290 Downloads
    See also Working Paper Deadly Debt Crises: COVID-19 in Emerging Markets, Department of Economics Working Papers (2021) Downloads View citations (5) (2021)
  2. Misallocation under Trade Liberalization
    American Economic Review, 2024, 114, (7), 1949-85 Downloads View citations (1)
    See also Working Paper Misallocation under trade liberalization, LSE Research Online Documents on Economics (2024) Downloads View citations (1) (2024)

2023

  1. COVID-19 Vaccination and Financial Frictions
    IMF Economic Review, 2023, 71, (1), 216-242 Downloads
    See also Working Paper COVID-19 Vaccination and Financial Frictions, Staff Report (2021) Downloads (2021)

2020

  1. Migration and sovereign default risk
    Journal of Monetary Economics, 2020, 113, (C), 1-22 Downloads View citations (16)

2019

  1. Financial Frictions and Fluctuations in Volatility
    Journal of Political Economy, 2019, 127, (5), 2049 - 2103 Downloads View citations (153)
    See also Working Paper Financial Frictions and Fluctuations in Volatility, NBER Working Papers (2016) Downloads View citations (53) (2016)

2018

  1. Default risk, sectoral reallocation, and persistent recessions
    Journal of International Economics, 2018, 112, (C), 182-199 Downloads View citations (31)
    See also Chapter Default Risk, Sectoral Reallocation, and Persistent Recessions, NBER Chapters, 2017 (2017) View citations (3) (2017)
    Working Paper Default Risk, Sectoral Reallocation and Persistent Recessions, Staff Report (2017) Downloads View citations (2) (2017)

2017

  1. Fiscal austerity during debt crises
    Economic Theory, 2017, 64, (4), 657-673 Downloads View citations (30)
    See also Working Paper Fiscal Austerity during Debt Crises, Staff Report (2016) Downloads View citations (14) (2016)
  2. The payment schedule of sovereign debt
    Economics Letters, 2017, 161, (C), 19-23 Downloads View citations (6)
    See also Working Paper The Payment Schedule of Sovereign Debt, Department of Economics Working Papers (2017) Downloads View citations (5) (2017)

2015

  1. Demand Shocks and Open Economy Puzzles
    American Economic Review, 2015, 105, (5), 644-49 Downloads View citations (17)
    See also Working Paper Demand shocks and open economy puzzles, 2013 Meeting Papers (2013) Downloads (2013)

2014

  1. Renegotiation Policies in Sovereign Defaults
    American Economic Review, 2014, 104, (5), 94-100 Downloads View citations (5)
    See also Working Paper Renegotiation Policies in Sovereign Defaults, Staff Report (2014) Downloads View citations (5) (2014)

2012

  1. Duration of sovereign debt renegotiation
    Journal of International Economics, 2012, 86, (2), 252-268 Downloads View citations (52)
    See also Working Paper Duration of Sovereign Debt Renegotiation, Working Papers (2009) Downloads View citations (5) (2009)
  2. Financial integration and international risk sharing
    Journal of International Economics, 2012, 86, (1), 17-32 Downloads View citations (96)
    See also Working Paper Financial Integration and International Risk Sharing, Working Papers (2009) Downloads View citations (18) (2009)
  3. Firm dynamics and financial development
    Journal of Monetary Economics, 2012, 59, (6), 533-549 Downloads View citations (91)
    See also Working Paper Firm Dynamics and Financial Development, NBER Working Papers (2009) Downloads View citations (10) (2009)

2010

  1. Solving the Feldstein-Horioka Puzzle With Financial Frictions
    Econometrica, 2010, 78, (2), 603-632 Downloads View citations (112)

Chapters

2017

  1. Default Risk, Sectoral Reallocation, and Persistent Recessions
    A chapter in NBER International Seminar on Macroeconomics 2017, 2017 View citations (3)
    See also Journal Article Default risk, sectoral reallocation, and persistent recessions, Elsevier (2018) Downloads View citations (31) (2018)
    Working Paper Default Risk, Sectoral Reallocation and Persistent Recessions, Federal Reserve Bank of Minneapolis (2017) Downloads View citations (2) (2017)
 
Page updated 2025-03-31