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Details about Zheng Liu

E-mail:
Homepage:http://www.frbsf.org/economic-research/economists/zheng-liu/
Phone:415-974-3328
Postal address:Federal Reserve Bank of San Francisco, 101 Market Street, MS 1130, San Francisco, CA 94105
Workplace:Economic Research, Federal Reserve Bank of San Francisco, (more information at EDIRC)

Access statistics for papers by Zheng Liu.

Last updated 2019-05-24. Update your information in the RePEc Author Service.

Short-id: pli18


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Working Papers

2019

  1. A Theory of Housing Demand Shocks
    FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta Downloads
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2019) Downloads
    Working Paper Series, Federal Reserve Bank of San Francisco (2019) Downloads

2018

  1. Optimal Capital Account Liberalization in China
    Working Paper Series, Federal Reserve Bank of San Francisco Downloads View citations (1)

2017

  1. Breaking the “Iron Rice Bowl” and Precautionary Swings: Evidence from Chinese State-Owned Enterprises Reform
    Working Paper Series, Federal Reserve Bank of San Francisco Downloads View citations (1)
    Also in 2014 Meeting Papers, Society for Economic Dynamics (2014) Downloads View citations (2)
  2. Interest-Rate Liberalization and Capital Misallocations
    Working Paper Series, Federal Reserve Bank of San Francisco Downloads View citations (1)

2016

  1. Land Prices and Unemployment
    Working Paper Series, Federal Reserve Bank of San Francisco Downloads View citations (10)
    Also in FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta (2013) Downloads View citations (4)
    NBER Working Papers, National Bureau of Economic Research, Inc (2013) Downloads View citations (3)
    2015 Meeting Papers, Society for Economic Dynamics (2015) Downloads

    See also Journal Article in Journal of Monetary Economics (2016)
  2. Measuring the Effects of Dollar Appreciation on Asia: A Favar Approach
    Working Paper Series, Federal Reserve Bank of San Francisco Downloads
    See also Journal Article in Journal of International Money and Finance (2017)
  3. Reserve Requirements and Optimal Chinese Stabilization Policy
    Working Paper Series, Federal Reserve Bank of San Francisco Downloads View citations (1)
  4. The Slow Job Recovery in a Macro Model of Search and Recruiting Intensity
    2016 Meeting Papers, Society for Economic Dynamics Downloads
    Also in Working Paper Series, Federal Reserve Bank of San Francisco (2016) Downloads View citations (1)

2015

  1. Optimal Monetary Policy and Capital Account Restrictions in a Small Open Economy
    Working Paper Series, Federal Reserve Bank of San Francisco Downloads View citations (10)
    See also Journal Article in IMF Economic Review (2015)

2013

  1. Capital controls and optimal Chinese monetary policy
    Working Paper Series, Federal Reserve Bank of San Francisco Downloads View citations (2)
    See also Journal Article in Journal of Monetary Economics (2015)
  2. Temptation and Self-Control: Some Evidence and Applications
    Working Paper Series, Federal Reserve Bank of San Francisco Downloads View citations (3)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2006) Downloads View citations (5)
    Vanderbilt University Department of Economics Working Papers, Vanderbilt University Department of Economics (2007) Downloads View citations (8)

    See also Journal Article in Journal of Money, Credit and Banking (2015)
  3. Uncertainty Shocks Are Aggregate Demand Shocks
    2013 Meeting Papers, Society for Economic Dynamics Downloads View citations (42)
    Also in Working Paper Series, Federal Reserve Bank of San Francisco (2012) Downloads View citations (17)

    See also Journal Article in Journal of Monetary Economics (2016)

2012

  1. Land-Price Dynamics and Macroeconomic Fluctuations
    2012 Meeting Papers, Society for Economic Dynamics Downloads View citations (1)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2011) Downloads View citations (18)
    Working Paper Series, Federal Reserve Bank of San Francisco (2011) Downloads View citations (15)
    FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta (2011) Downloads View citations (41)

    See also Journal Article in Econometrica (2013)
  2. Technology Shocks in a Two-Sector DSGE Model
    2012 Meeting Papers, Society for Economic Dynamics Downloads View citations (1)

2010

  1. Do credit constraints amplify macroeconomic fluctuations?
    FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta Downloads View citations (7)
    Also in Working Paper Series, Federal Reserve Bank of San Francisco (2009) Downloads View citations (17)
    Emory Economics, Department of Economics, Emory University (Atlanta) (2009) Downloads View citations (3)
  2. Indeterminate credit cycles
    Working Paper Series, Federal Reserve Bank of San Francisco Downloads
  3. Should the central bank be concerned about housing prices?
    Working Paper Series, Federal Reserve Bank of San Francisco Downloads View citations (1)
    See also Journal Article in Macroeconomic Dynamics (2013)
  4. Sources of Macroeconomic Fluctuations: A Regime-switching DSGE Approach
    Emory Economics, Department of Economics, Emory University (Atlanta) Downloads View citations (55)
    See also Journal Article in Quantitative Economics (2011)

2009

  1. International Harmonization of the Patent-awarding Rules
    Emory Economics, Department of Economics, Emory University (Atlanta) Downloads
  2. Sources of the Great Moderation: Shocks, Frictions, or Monetary Policy?
    2009 Meeting Papers, Society for Economic Dynamics Downloads
    Also in Working Paper Series, Federal Reserve Bank of San Francisco (2009) Downloads View citations (10)
    Emory Economics, Department of Economics, Emory University (Atlanta) (2008) Downloads View citations (4)
    FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta (2009) Downloads View citations (9)

2008

  1. Asymmetric expectation effects of regime shifts in monetary policy
    Working Paper Series, Federal Reserve Bank of San Francisco Downloads View citations (6)
    See also Journal Article in Review of Economic Dynamics (2009)
  2. Do Nominal Rigidities Matter for the Transmission of Technology Shocks?
    Emory Economics, Department of Economics, Emory University (Atlanta) Downloads
    Also in Working Paper Series, Federal Reserve Bank of San Francisco (2008) Downloads
    Cahiers de recherche, CIRPEE (2008) Downloads
  3. Learning, Adaptive Expectations, and Technology Shocks
    Emory Economics, Department of Economics, Emory University (Atlanta) Downloads View citations (1)
    Also in Vanderbilt University Department of Economics Working Papers, Vanderbilt University Department of Economics (2008) Downloads View citations (1)
    Working Paper Series, Federal Reserve Bank of San Francisco (2008) Downloads View citations (1)
    FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta (2008) Downloads View citations (4)

    See also Journal Article in Economic Journal (2009)

2007

  1. Asymmetric Expectation Effects of Regime Shifts and the Great Moderation
    Kiel Working Papers, Kiel Institute for the World Economy (IfW) Downloads View citations (1)
    Also in Emory Economics, Department of Economics, Emory University (Atlanta) (2007) Downloads View citations (1)
    FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta (2007) Downloads View citations (3)
    Working Papers, Federal Reserve Bank of Minneapolis (2007) Downloads View citations (1)
  2. Investment-specific technological change, skill accumulation, and wage inequality
    Working Papers, Federal Reserve Bank of Minneapolis Downloads View citations (5)
    See also Journal Article in Review of Economic Dynamics (2008)
  3. Macroeconomic Volatility and Monetary Policy Regimes
    2007 Meeting Papers, Society for Economic Dynamics

2006

  1. Investment-specific Technical Change and the Dynamics of Skill Accumulation and Wage Inequality
    Emory Economics, Department of Economics, Emory University (Atlanta) Downloads

2005

  1. Gains from Coordination in a Multi-Sector Open Economy: Does it Pay to be Different?
    Working Papers, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University Downloads
    Also in LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library (2005) Downloads
    Emory Economics, Department of Economics, Emory University (Atlanta) (2005) Downloads View citations (1)
  2. Gains from International Monetary Policy Coordination: Does It Pay to Be Different?
    Computing in Economics and Finance 2005, Society for Computational Economics Downloads View citations (14)
    Also in Working Paper Series, European Central Bank (2005) Downloads View citations (15)

    See also Journal Article in Journal of Economic Dynamics and Control (2008)
  3. Temptation and Self-Control: Some Evidence from the Consumer Expenditure Survey
    Emory Economics, Department of Economics, Emory University (Atlanta) Downloads View citations (1)
    Also in 2005 Meeting Papers, Society for Economic Dynamics (2005) Downloads View citations (2)
  4. Vertical production and trade interdependence and welfare
    Working Papers, Federal Reserve Bank of Philadelphia Downloads

2004

  1. Inflation targeting: what inflation rate to target?
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (17)
    Also in Emory Economics, Department of Economics, Emory University (Atlanta) (2003) Downloads

    See also Journal Article in Journal of Monetary Economics (2005)
  2. Inflation to target: what inflation to target?
    Research Working Paper, Federal Reserve Bank of Kansas City Downloads View citations (1)
  3. Multiple stages of processing and the quantity anomaly in international business cycle models
    Research Working Paper, Federal Reserve Bank of Kansas City Downloads View citations (6)
    Also in Working Papers, Federal Reserve Bank of Philadelphia (2004) Downloads View citations (2)
  4. Production interdependence and welfare
    Working Paper Series, European Central Bank Downloads View citations (4)
    Also in Research Working Paper, Federal Reserve Bank of Kansas City (2004) Downloads View citations (6)
  5. What Explains the Effects of Technology Shocks on Labor Market Dynamics?
    Emory Economics, Department of Economics, Emory University (Atlanta) Downloads View citations (3)

2003

  1. Business Cycles with Staggered Prices and International Trade in Intermediate Inputs
    Emory Economics, Department of Economics, Emory University (Atlanta) Downloads View citations (1)
    See also Journal Article in Journal of Monetary Economics (2007)
  2. Openness and Equilibrium Determinacy under Interest Rate Rules
    Emory Economics, Department of Economics, Emory University (Atlanta) Downloads View citations (3)
    Also in Working Paper Series, European Central Bank (2002) Downloads
  3. Why Does the Cyclical Behavior of Real Wages Change Over Time?
    Emory Economics, Department of Economics, Emory University (Atlanta) Downloads View citations (4)
    Also in Research Working Paper, Federal Reserve Bank of Kansas City (2002) Downloads View citations (21)

    See also Journal Article in American Economic Review (2004)

2001

  1. Input-Output Structure and Nominal Staggering: The Persistence Problem Revisited
    Cahiers de recherche CREFE / CREFE Working Papers, CREFE, Université du Québec à Montréal Downloads View citations (8)
  2. On the Transmission of Monetary Policy Shocks
    Cahiers de recherche CREFE / CREFE Working Papers, CREFE, Université du Québec à Montréal Downloads View citations (9)

2000

  1. Vertical International Trade as a Monetary Transmission Mechanism in an Open Economy
    Cahiers de recherche CREFE / CREFE Working Papers, CREFE, Université du Québec à Montréal Downloads View citations (4)
    Also in Econometric Society World Congress 2000 Contributed Papers, Econometric Society (2000) Downloads View citations (4)
    Working Papers, Utah State University, Department of Economics Downloads View citations (1)

1999

  1. Chain of Production as a Monetary Propagation Mechanism
    Cahiers de recherche CREFE / CREFE Working Papers, CREFE, Université du Québec à Montréal Downloads View citations (4)
    Also in Discussion Paper / Institute for Empirical Macroeconomics, Federal Reserve Bank of Minneapolis (1999) Downloads View citations (4)
  2. Staggered Contracts and Business Cycle Persistence
    Working Papers, Minnesota - Center for Economic Research View citations (8)
    Also in Discussion Paper / Institute for Empirical Macroeconomics, Federal Reserve Bank of Minneapolis (1998) Downloads View citations (20)
    Cahiers de recherche CREFE / CREFE Working Papers, CREFE, Université du Québec à Montréal (1998) Downloads View citations (14)
    Working Papers, Utah State University, Department of Economics Downloads

Undated

  1. Input-output structure and the general equilibrium dynamics of inflation and output
    Working Papers, Utah State University, Department of Economics Downloads
  2. Staggered contracts, intermediate goods and the dynamic effects of monetary shocks on output, inflation and real wages
    Working Papers, Utah State University, Department of Economics Downloads View citations (2)
  3. Staggered price-setting, staggered wage-setting, and business cycle persistence
    Working Papers, Utah State University, Department of Economics Downloads
    See also Journal Article in Journal of Monetary Economics (2002)

Journal Articles

2018

  1. Breaking the “iron rice bowl:” Evidence of precautionary savings from the chinese state-owned enterprises reform
    Journal of Monetary Economics, 2018, 94, (C), 94-113 Downloads View citations (1)
  2. Is GDP Overstating Economic Activity?
    FRBSF Economic Letter, 2018 Downloads

2017

  1. Measuring the effects of dollar appreciation on Asia: A FAVAR approach
    Journal of International Money and Finance, 2017, 74, (C), 353-370 Downloads View citations (2)
    See also Working Paper (2016)
  2. Reserve Requirements as a Chinese Macro Policy Tool
    FRBSF Economic Letter, 2017 Downloads

2016

  1. Asymmetric impacts of European transmission network development towards 2050: Stakeholder assessment based on IRENE-40 scenarios
    Energy Economics, 2016, 53, (C), 261-269 Downloads View citations (1)
  2. Land prices and unemployment
    Journal of Monetary Economics, 2016, 80, (C), 86-105 Downloads View citations (13)
    See also Working Paper (2016)
  3. Slow Credit Recovery and Excess Returns on Capital
    FRBSF Economic Letter, 2016 Downloads View citations (1)
  4. Uncertainty shocks are aggregate demand shocks
    Journal of Monetary Economics, 2016, 82, (C), 20-35 Downloads View citations (88)
    See also Working Paper (2013)

2015

  1. Capital controls and optimal Chinese monetary policy
    Journal of Monetary Economics, 2015, 74, (C), 1-15 Downloads View citations (27)
    See also Working Paper (2013)
  2. China in the global economy. SF Fed President John Williams talks with Zheng Liu, Mark Spiegel, and Fernanda Nechio of the international research team about China's economic slowdown and how it's affecting global economic activity
    Annual Report, 2015, 07-07 Downloads
  3. Discussion of Notarpietro and Siviero
    Journal of Money, Credit and Banking, 2015, 47, (S1), 411-417 Downloads View citations (1)
  4. Is China’s growth miracle over?
    FRBSF Economic Letter, 2015 Downloads View citations (3)
  5. Optimal Monetary Policy and Capital Account Restrictions in a Small Open Economy
    IMF Economic Review, 2015, 63, (2), 298-324 Downloads View citations (15)
    See also Working Paper (2015)
  6. Temptation and Self‐Control: Some Evidence and Applications
    Journal of Money, Credit and Banking, 2015, 47, (4), 581-615 Downloads View citations (3)
    See also Working Paper (2013)

2014

  1. Credit Constraints and Self-Fulfilling Business Cycles
    American Economic Journal: Macroeconomics, 2014, 6, (1), 32-69 Downloads View citations (49)
  2. Global aging: more headwinds for U.S. stocks?
    FRBSF Economic Letter, 2014 Downloads
  3. Job uncertainty and Chinese household savings
    FRBSF Economic Letter, 2014 Downloads View citations (4)

2013

  1. Land‐Price Dynamics and Macroeconomic Fluctuations
    Econometrica, 2013, 81, (3), 1147-1184 Downloads View citations (142)
    See also Working Paper (2012)
  2. SHOULD THE CENTRAL BANK BE CONCERNED ABOUT HOUSING PRICES?
    Macroeconomic Dynamics, 2013, 17, (01), 29-53 Downloads View citations (3)
    See also Working Paper (2010)
  3. The Transmission of Productivity Shocks: What Do We Learn About DSGE Modeling?
    Annals of Economics and Statistics, 2013, (109-110), 283-304 Downloads
  4. Uncertainty and the slow labor market recovery
    FRBSF Economic Letter, 2013, (july22) Downloads View citations (5)

2012

  1. External shocks and China’s monetary policy
    FRBSF Economic Letter, 2012, (dec3) Downloads
  2. Uncertainty, unemployment, and inflation
    FRBSF Economic Letter, 2012, (sep17) Downloads View citations (8)

2011

  1. Boomer retirement: headwinds for U.S. equity markets?
    FRBSF Economic Letter, 2011, (aug22) Downloads View citations (10)
  2. Does headline inflation converge to core?
    FRBSF Economic Letter, 2011, (aug1) Downloads View citations (5)
  3. Sources of macroeconomic fluctuations: A regime‐switching DSGE approach
    Quantitative Economics, 2011, 2, (2), 251-301 View citations (78)
    See also Working Paper (2010)

2010

  1. Inflation: mind the gap
    FRBSF Economic Letter, 2010, (jan19) Downloads View citations (10)

2009

  1. Asymmetric Expectation Effects of Regime Shifts in Monetary Policy
    Review of Economic Dynamics, 2009, 12, (2), 284-303 Downloads View citations (42)
    See also Working Paper (2008)
    Software Item (2009)
  2. Learning, Adaptive Expectations and Technology Shocks
    Economic Journal, 2009, 119, (536), 377-405 Downloads View citations (31)
    See also Working Paper (2008)

2008

  1. Gains from international monetary policy coordination: Does it pay to be different?
    Journal of Economic Dynamics and Control, 2008, 32, (7), 2085-2117 Downloads View citations (15)
    See also Working Paper (2005)
  2. Investment-Specific Technological Change, Skill Accumulation, and Wage Inequality
    Review of Economic Dynamics, 2008, 11, (2), 314-334 Downloads View citations (36)
    See also Working Paper (2007)

2007

  1. Business cycles with staggered prices and international trade in intermediate inputs
    Journal of Monetary Economics, 2007, 54, (4), 1271-1289 Downloads View citations (26)
    See also Working Paper (2003)
  2. Technology shocks and labor market dynamics: Some evidence and theory
    Journal of Monetary Economics, 2007, 54, (8), 2534-2553 Downloads View citations (37)

2006

  1. Sellers' local currency pricing or buyers' local currency pricing: does it matter for international welfare analysis?
    Journal of Economic Dynamics and Control, 2006, 30, (7), 1183-1213 Downloads View citations (16)

2005

  1. Does trade openness matter for aggregate instability?
    Journal of Economic Dynamics and Control, 2005, 29, (7), 1165-1192 Downloads View citations (55)
  2. Inflation targeting: What inflation rate to target?
    Journal of Monetary Economics, 2005, 52, (8), 1435-1462 Downloads View citations (51)
    See also Working Paper (2004)

2004

  1. INPUT OUTPUT STRUCTURE AND NOMINAL RIGIDITY: THE PERSISTENCE PROBLEM REVISITED
    Macroeconomic Dynamics, 2004, 8, (02), 188-206 Downloads View citations (12)
  2. Why Does the Cyclical Behavior of Real Wages Change Over Time?
    American Economic Review, 2004, 94, (4), 836-856 Downloads View citations (59)
    See also Working Paper (2003)

2002

  1. Staggered price-setting, staggered wage-setting, and business cycle persistence
    Journal of Monetary Economics, 2002, 49, (2), 405-433 Downloads View citations (137)
    See also Working Paper

2001

  1. Production chains and general equilibrium aggregate dynamics
    Journal of Monetary Economics, 2001, 48, (2), 437-462 Downloads View citations (83)

2000

  1. Seasonal cycles, business cycles, and monetary policy
    Journal of Monetary Economics, 2000, 46, (2), 441-464 Downloads View citations (2)

Software Items

2009

  1. Code files for "Asymmetric Expectation Effects of Regime Shifts in Monetary Policy"
    Computer Codes, Review of Economic Dynamics Downloads
    See also Journal Article in Review of Economic Dynamics (2009)
 
Page updated 2019-05-25