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Details about Pengfei Wang

E-mail:
Homepage:https://english.phbs.pku.edu.cn/2019/fulltime_0920/118.html
Phone:(852)-2358-7612
Postal address:Peking University HSBC Business School
Workplace:HSBC Business School, Peking University, (more information at EDIRC)

Access statistics for papers by Pengfei Wang.

Last updated 2021-04-04. Update your information in the RePEc Author Service.

Short-id: pwa169


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Working Papers

2020

  1. Asset Bubbles and Monetary Policy
    Boston University - Department of Economics - The Institute for Economic Development Working Papers Series, Boston University - Department of Economics Downloads
    Also in 2017 Meeting Papers, Society for Economic Dynamics (2017) Downloads View citations (16)

    See also Journal Article in Review of Economic Dynamics (2020)
  2. Discount Shock, Price-Rent Dynamics, and the Business Cycle
    FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta Downloads
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2014) Downloads View citations (4)

    See also Journal Article in International Economic Review (2020)
  3. Self-Fulfilling Risk Panics: An Expected Utility Framework
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads

2019

  1. A Theory of Housing Demand Shocks
    Working Paper Series, Federal Reserve Bank of San Francisco Downloads View citations (2)
    Also in FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta (2019) Downloads View citations (2)
    2019 Meeting Papers, Society for Economic Dynamics (2019) Downloads View citations (2)
    NBER Working Papers, National Bureau of Economic Research, Inc (2019) Downloads View citations (2)
  2. Convergence, Financial Development, and Policy Analysis
    Boston University - Department of Economics - The Institute for Economic Development Working Papers Series, Boston University - Department of Economics Downloads
    See also Journal Article in Economic Theory (2020)

2018

  1. A Search-Based Neoclassical Model of Capital Reallocation
    Working Papers, Federal Reserve Bank of St. Louis Downloads
    See also Journal Article in European Economic Review (2020)
  2. Financial Markets, the Real Economy, and Self-fulfilling Uncertainties
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
    See also Journal Article in Journal of Finance (2019)

2017

  1. Asset Bubbles and Foreign Interest Rate Shocks
    2017 Meeting Papers, Society for Economic Dynamics Downloads
    See also Journal Article in Review of Economic Dynamics
  2. Interest-Rate Liberalization and Capital Misallocations
    Working Paper Series, Federal Reserve Bank of San Francisco Downloads View citations (2)
    See also Journal Article in American Economic Journal: Macroeconomics (2021)
  3. Online Appendix to ""Financial Development and Long-Run Volatility Trends"
    Online Appendices, Review of Economic Dynamics Downloads View citations (1)
    See also Journal Article in Review of Economic Dynamics (2018)

2016

  1. Adverse Selection and Self-fulfilling Business Cycles
    2016 Meeting Papers, Society for Economic Dynamics Downloads
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2014) Downloads View citations (10)

    See also Journal Article in Journal of Monetary Economics (2018)
  2. Saving China's Stock Market
    IHEID Working Papers, Economics Section, The Graduate Institute of International Studies Downloads View citations (2)
    See also Journal Article in IMF Economic Review (2019)

2015

  1. Credit Search and Credit Cycles
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (12)
    See also Journal Article in Economic Theory (2016)
  2. Housing Bubbles and Policy Analysis
    2015 Meeting Papers, Society for Economic Dynamics Downloads View citations (2)
  3. Sentiments, Financial Markets, and Macroeconomic Fluctuations
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)
    See also Journal Article in Journal of Financial Economics (2016)

2014

  1. Liquidity Premia, Price-Rent Dynamics, and Business Cycles
    FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta Downloads View citations (4)
  2. Private Information and Sunspots in Sequential Asset Markets
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)
    See also Journal Article in Journal of Economic Theory (2015)
  3. Trade, Sectorial Reallocation, and Growth
    MPRA Paper, University Library of Munich, Germany Downloads
    See also Journal Article in Annals of Economics and Finance (2018)

2013

  1. A Bayesian DSGE Model of Stock Market Bubbles and Business Cycles
    2013 Meeting Papers, Society for Economic Dynamics Downloads View citations (8)
  2. Financial development and long-run volatility trends
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (4)
    See also Journal Article in Review of Economic Dynamics (2018)
  3. Stock Market Bubbles and Unemployment
    2013 Meeting Papers, Society for Economic Dynamics View citations (2)
    Also in Boston University - Department of Economics - Working Papers Series, Boston University - Department of Economics (2012) Downloads View citations (5)

    See also Journal Article in Economic Theory (2016)
  4. Two-Way Capital Flows and Global Imbalances: A Neoclassical Approach
    2013 Meeting Papers, Society for Economic Dynamics Downloads
    Also in Working Papers, Federal Reserve Bank of St. Louis (2012) Downloads View citations (3)
  5. Uncertainty and Sentiment-Driven Equilibria
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (6)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2013) Downloads View citations (6)

    See also Chapter (2017)

2012

  1. Banking Bubbles and Financial Crisis
    Boston University - Department of Economics - Working Papers Series, Boston University - Department of Economics Downloads View citations (6)
    See also Journal Article in Journal of Economic Theory (2015)
  2. Financial Constraints, Endogenous Markups, and Self-fulfilling Equilibria
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
    See also Journal Article in Journal of Monetary Economics (2013)
  3. Land-Price Dynamics and Macroeconomic Fluctuations
    2012 Meeting Papers, Society for Economic Dynamics Downloads View citations (1)
    Also in Working Paper Series, Federal Reserve Bank of San Francisco (2011) Downloads View citations (17)
    FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta (2011) Downloads View citations (44)
    NBER Working Papers, National Bureau of Economic Research, Inc (2011) Downloads View citations (20)

    See also Journal Article in Econometrica (2013)
  4. Sectoral Bubbles and Endogenous Growth
    2012 Meeting Papers, Society for Economic Dynamics Downloads View citations (3)
    Also in Boston University - Department of Economics - Working Papers Series, Boston University - Department of Economics (2011) View citations (4)
  5. Sentiments and Aggregate Demand Fluctuations
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (17)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2012) Downloads View citations (6)

    See also Journal Article in Econometrica (2015)
  6. What inventories tell us about aggregate fluctuations -- a tractable approach to (S,s) policies
    Working Papers, Federal Reserve Bank of St. Louis Downloads
    See also Journal Article in Journal of Economic Dynamics and Control (2014)
  7. When Do Inventories Destabilize the Economy? ---A Tractable Approach to (S,s) Policies
    2012 Meeting Papers, Society for Economic Dynamics Downloads

2011

  1. Bubbles and Credit Constraints
    Boston University - Department of Economics - Working Papers Series, Boston University - Department of Economics View citations (31)
    Also in 2011 Meeting Papers, Society for Economic Dynamics (2011) Downloads View citations (21)
  2. Bubbles and Total Factor Productivity
    Boston University - Department of Economics - Working Papers Series, Boston University - Department of Economics View citations (6)
    See also Journal Article in American Economic Review (2012)
  3. When do inventories destabilize the economy? an analytical approach to (S,s) policies
    Working Papers, Federal Reserve Bank of St. Louis Downloads

2010

  1. Credit Risk and Business Cycles
    Boston University - Department of Economics - Working Papers Series, Boston University - Department of Economics View citations (22)
  2. Do credit constraints amplify macroeconomic fluctuations?
    FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta Downloads View citations (8)
    Also in Working Paper Series, Federal Reserve Bank of San Francisco (2009) Downloads View citations (17)
  3. Financial Development and Economic Volatility:A Unified Explanation
    2010 Meeting Papers, Society for Economic Dynamics Downloads View citations (3)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2009) Downloads View citations (7)
  4. Hayashi meets Kiyotaki and Moore: a theory of capital adjustment costs
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (2)
  5. Indeterminate credit cycles
    Working Paper Series, Federal Reserve Bank of San Francisco Downloads

2009

  1. Does Lumy Investment Matter for Business Cycles?
    MPRA Paper, University Library of Munich, Germany Downloads View citations (1)
    Also in Boston University - Department of Economics - Working Papers Series, Boston University - Department of Economics Downloads View citations (1)
  2. Inventory accelerator in general equilibrium
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (6)
  3. Speculative bubbles and financial crisis
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (15)
    See also Journal Article in American Economic Journal: Macroeconomics (2012)

2008

  1. A Defense of RBC:Understanding the Puzzling Effects of Technology Shocks
    2008 Meeting Papers, Society for Economic Dynamics Downloads

2007

  1. Endogenous volatility, endogenous growth, and large welfare gains from stabilization policies
    Working Papers, Federal Reserve Bank of St. Louis Downloads
  2. Imperfect competition and indeterminacy of aggregate output
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (1)
    See also Journal Article in Journal of Economic Theory (2008)
  3. Incomplete information and self-fulfilling prophecies
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (2)
  4. Understanding the puzzling effects of technology shocks
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (1)

2006

  1. Imperfect competition and sunspots
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (1)
  2. Inflation dynamics: a cross-country investigation
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (3)
    See also Journal Article in Journal of Monetary Economics (2007)
  3. Solving linear difference systems with lagged expectations by a method of undetermined coefficients
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (7)

2005

  1. Another look at sticky prices and output persistence
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (4)
    Also in Working Papers, Cornell University, Center for Analytic Economics (2004) Downloads View citations (1)

    See also Journal Article in Journal of Economic Dynamics and Control (2006)

2004

  1. Endogenous Money or Sticky Price? Comment on Monetary Non-neutrality and Inflation Dynamics
    Working Papers, Cornell University, Center for Analytic Economics Downloads
    See also Journal Article in Journal of Economic Dynamics and Control (2005)

Undated

  1. Lumpy Investment and Corporate Tax Policy
    Boston University - Department of Economics - Working Papers Series, Boston University - Department of Economics View citations (1)
    See also Journal Article in Journal of Money, Credit and Banking (2014)

Journal Articles

2021

  1. Interest Rate Liberalization and Capital Misallocations
    American Economic Journal: Macroeconomics, 2021, 13, (2), 373-419 Downloads
    See also Working Paper (2017)

2020

  1. A search-based neoclassical model of capital reallocation
    European Economic Review, 2020, 128, (C) Downloads
    See also Working Paper (2018)
  2. Asset Bubbles and Monetary Policy
    Review of Economic Dynamics, 2020, 37 Supplement 1, S68-S98 Downloads View citations (21)
    See also Working Paper (2020)
    Software Item (2020)
  3. Convergence, financial development, and policy analysis
    Economic Theory, 2020, 69, (3), 523-568 Downloads View citations (2)
    See also Working Paper (2019)
  4. DISCOUNT SHOCK, PRICE–RENT DYNAMICS, AND THE BUSINESS CYCLE
    International Economic Review, 2020, 61, (3), 1229-1252 Downloads
    See also Working Paper (2020)

2019

  1. Financial Markets, the Real Economy, and Self‐Fulfilling Uncertainties
    Journal of Finance, 2019, 74, (3), 1503-1557 Downloads View citations (3)
    See also Working Paper (2018)
  2. Monetary Policy and Rational Asset Price Bubbles: Comment
    American Economic Review, 2019, 109, (5), 1969-90 Downloads View citations (7)
  3. Saving China’s Stock Market?
    IMF Economic Review, 2019, 67, (2), 349-394 Downloads View citations (3)
    See also Working Paper (2016)

2018

  1. Adverse selection and self-fulfilling business cycles
    Journal of Monetary Economics, 2018, 94, (C), 114-130 Downloads View citations (7)
    See also Working Paper (2016)
  2. Asset Bubbles and Credit Constraints
    American Economic Review, 2018, 108, (9), 2590-2628 Downloads View citations (31)
  3. Financial Development and Long-Run Volatility Trends
    Review of Economic Dynamics, 2018, 28, 221-251 Downloads View citations (3)
    See also Software Item (2017)
    Working Paper (2013)
    Working Paper (2017)
  4. Market thickness and the impact of unemployment on housing market outcomes
    Journal of Monetary Economics, 2018, 98, (C), 27-49 Downloads View citations (1)
  5. The perils of credit booms
    Economic Theory, 2018, 66, (4), 819-861 Downloads View citations (3)
  6. Trade, Sectorial Reallocation, and Growth
    Annals of Economics and Finance, 2018, 19, (1), 49-74 Downloads View citations (2)
    See also Working Paper (2014)

2017

  1. Two‐way Capital Flows and Global Imbalances
    Economic Journal, 2017, 127, (599), 229-269 Downloads View citations (5)

2016

  1. Chaotic banking crises and regulations
    Economic Theory, 2016, 61, (2), 393-422 Downloads View citations (3)
    Also in Economic Theory, 2016, 61, (2), 393-422 (2016) Downloads View citations (3)
  2. Credit search and credit cycles
    Economic Theory, 2016, 61, (2), 215-239 Downloads View citations (13)
    See also Working Paper (2015)
  3. Endogenous information acquisition and countercyclical uncertainty
    Journal of Economic Theory, 2016, 165, (C), 601-642 Downloads View citations (2)
  4. Sentiments, financial markets, and macroeconomic fluctuations
    Journal of Financial Economics, 2016, 120, (2), 420-443 Downloads View citations (23)
    See also Working Paper (2015)
  5. Stock market bubbles and unemployment
    Economic Theory, 2016, 61, (2), 273-307 Downloads View citations (17)
    See also Working Paper (2013)

2015

  1. A Bayesian dynamic stochastic general equilibrium model of stock market bubbles and business cycles
    Quantitative Economics, 2015, 6, (3), 599-635 Downloads View citations (14)
  2. Asset bubbles, collateral, and policy analysis
    Journal of Monetary Economics, 2015, 76, (S), S57-S70 Downloads View citations (23)
  3. Banking bubbles and financial crises
    Journal of Economic Theory, 2015, 157, (C), 763-792 Downloads View citations (32)
    See also Working Paper (2012)
  4. Private information and sunspots in sequential asset markets
    Journal of Economic Theory, 2015, 158, (PB), 558-584 Downloads View citations (8)
    See also Working Paper (2014)
  5. Sentiments and Aggregate Demand Fluctuations
    Econometrica, 2015, 83, 549-585 Downloads View citations (49)
    See also Working Paper (2012)

2014

  1. A Q-theory model with lumpy investment
    Economic Theory, 2014, 57, (1), 133-159 Downloads View citations (4)
  2. Credit Constraints and Self-Fulfilling Business Cycles
    American Economic Journal: Macroeconomics, 2014, 6, (1), 32-69 Downloads View citations (56)
  3. Lumpy Investment and Corporate Tax Policy
    Journal of Money, Credit and Banking, 2014, 46, (6), 1171-1203 Downloads View citations (5)
    See also Working Paper
  4. Sectoral bubbles, misallocation, and endogenous growth
    Journal of Mathematical Economics, 2014, 53, (C), 153-163 Downloads View citations (43)
  5. What inventories tell us about aggregate fluctuations—A tractable approach to (S,s) policies
    Journal of Economic Dynamics and Control, 2014, 44, (C), 196-217 Downloads View citations (5)
    See also Working Paper (2012)

2013

  1. Financial constraints, endogenous markups, and self-fulfilling equilibria
    Journal of Monetary Economics, 2013, 60, (7), 789-805 Downloads View citations (33)
    See also Working Paper (2012)
  2. Land‐Price Dynamics and Macroeconomic Fluctuations
    Econometrica, 2013, 81, (3), 1147-1184 Downloads View citations (191)
    See also Working Paper (2012)

2012

  1. Bubbles and Total Factor Productivity
    American Economic Review, 2012, 102, (3), 82-87 Downloads View citations (50)
    See also Working Paper (2011)
  2. Hayashi Meets Kiyotaki and Moore: A Theory of Capital Adjustment
    Review of Economic Dynamics, 2012, 15, (2), 207-225 Downloads View citations (14)
    See also Software Item (2011)
  3. Speculative Bubbles and Financial Crises
    American Economic Journal: Macroeconomics, 2012, 4, (3), 184-221 Downloads View citations (28)
    See also Working Paper (2009)
  4. Understanding Expectation-Driven Fluctuations: A Labor-Market Approach
    Journal of Money, Credit and Banking, 2012, 44, 487-506 Downloads View citations (12)
    Also in Journal of Money, Credit and Banking, 2012, 44, (2‐3), 487-506 (2012) Downloads View citations (7)

2011

  1. Understanding the Effects of Technology Shocks
    Review of Economic Dynamics, 2011, 14, (4), 705-724 Downloads View citations (7)
    See also Software Item (2010)
  2. Volatility, growth, and welfare
    Journal of Economic Dynamics and Control, 2011, 35, (10), 1696-1709 Downloads View citations (9)

2008

  1. Imperfect competition and indeterminacy of aggregate output
    Journal of Economic Theory, 2008, 143, (1), 519-540 Downloads View citations (11)
    See also Working Paper (2007)

2007

  1. Inflation dynamics: A cross-country investigation
    Journal of Monetary Economics, 2007, 54, (7), 2004-2031 Downloads View citations (31)
    See also Working Paper (2006)

2006

  1. Another look at sticky prices and output persistence
    Journal of Economic Dynamics and Control, 2006, 30, (12), 2533-2552 Downloads View citations (19)
    See also Working Paper (2005)

2005

  1. Endogenous money or sticky prices?--comment on monetary non-neutrality and inflation dynamics
    Journal of Economic Dynamics and Control, 2005, 29, (8), 1361-1383 Downloads View citations (6)
    See also Working Paper (2004)

Undated

  1. Asset Bubbles and Foreign Interest Rate Shocks"
    Review of Economic Dynamics Downloads
    See also Software Item (2021)
    Working Paper (2017)

Chapters

2021

  1. Pandemic and Panic: Government as the Supplier of Last Resort
    Chapter 6 in Impact of COVID-19 on Asian Economies and Policy Responses, 2021, pp 33-43 Downloads

2017

  1. Uncertainty and Sentiment-Driven Equilibria
    Springer
    See also Working Paper (2013)

2011

  1. Comment on "Oil Shocks in A DSGE Model for the Korean Economy"
    A chapter in Commodity Prices and Markets, 2011, pp 323-324 Downloads

Software Items

2021

  1. Code and data files for "Asset Bubbles and Foreign Interest Rate Shocks"
    Computer Codes, Review of Economic Dynamics Downloads
    See also Journal Article in Review of Economic Dynamics

2020

  1. Code and data files for "Asset Bubbles and Monetary Policy"
    Computer Codes, Review of Economic Dynamics Downloads
    See also Journal Article in Review of Economic Dynamics (2020)

2017

  1. Code and data files for "Financial Development and Long-Run Volatility Trends"
    Computer Codes, Review of Economic Dynamics Downloads
    See also Journal Article in Review of Economic Dynamics (2018)

2011

  1. Code files for "Hayashi Meets Kiyotaki and Moore: A Theory of Capital Adjustment Costs"
    Computer Codes, Review of Economic Dynamics Downloads
    See also Journal Article in Review of Economic Dynamics (2012)

2010

  1. Code and data files for "Understanding the Effects of Technology Shocks"
    Computer Codes, Review of Economic Dynamics Downloads
    See also Journal Article in Review of Economic Dynamics (2011)
 
Page updated 2021-06-20