Details about J. Christina Wang

Access statistics for papers by J. Christina Wang.

Last updated 2025-04-28. Update your information in the RePEc Author Service.

Short-id: pwa838

Working Papers

2025

1. Could the Growth of Private Credit Pose a Risk to Financial System Stability?
   Current Policy Perspectives, Federal Reserve Bank of Boston
2. Runs and Flights to Safety: Are Stablecoins the New Money Market Funds?
   Supervisory Research and Analysis Working Papers, Federal Reserve Bank of Boston
   Also in Staff Reports, Federal Reserve Bank of New York (2023) View citations (2)
3. Stablecoins and Crypto Shocks: An Update
   Liberty Street Economics, Federal Reserve Bank of New York

2024

4. A Portrait of First District Banks
   New England Public Policy Center Regional Brief, Federal Reserve Bank of Boston
5. Productivity Improvements and Markup Normalization Can Support Further Wage Gains without Inflationary Pressures
   Current Policy Perspectives, Federal Reserve Bank of Boston
6. Stablecoins and Crypto Shocks
   Liberty Street Economics, Federal Reserve Bank of New York

2023

7. Lease Expirations and CRE Property Performance
   Working Papers, Federal Reserve Bank of Boston View citations (1)
8. The Tail That Wagged the Dog: What Explains the Persistent Employment Effect of the 10-Day PPP Funding Delay?
   Working Papers, Federal Reserve Bank of Boston

2022

9. Did High Leverage Render Small Businesses Vulnerable to the COVID-19 Shock?
   Working Papers, Federal Reserve Bank of Boston View citations (1)
10. The Main Street Lending Program: Who Borrowed and How Have They Benefited?
    Working Papers, Federal Reserve Bank of Boston
11. What Do 25 Million Records of Small Businesses Say about the Effects of the PPP?
    Working Papers, Federal Reserve Bank of Boston View citations (3)

2021

12. A Helping Hand to Main Street Where and When It Was Needed
    Current Policy Perspectives, Federal Reserve Bank of Boston View citations (2)
13. How Did the MSLP Borrowers Fare Before and During COVID-19?
    Current Policy Perspectives, Federal Reserve Bank of Boston View citations (2)

2020

14. Corporate Debt Maturity and Monetary Policy
    Current Policy Perspectives, Federal Reserve Bank of Boston View citations (1)
15. The Great Leverage 2.0? A Tale of Different Indicators of Corporate Leverage
    Current Policy Perspectives, Federal Reserve Bank of Boston

2019

16. How Magic a Bullet Is Machine Learning for Credit Analysis? An Exploration with FinTech Lending Data
    Working Papers, Federal Reserve Bank of Boston View citations (3)

2018

17. Technology, the nature of information, and fintech marketplace lending
    Current Policy Perspectives, Federal Reserve Bank of Boston View citations (3)

2017

18. Banks' search for yield in the low interest rate environment: a tale of regulatory adaptation
    Working Papers, Federal Reserve Bank of Boston View citations (2)
19. The equilibrium real policy rate through the lens of standard growth models
    Current Policy Perspectives, Federal Reserve Bank of Boston

2016

20. Why has the cyclicality of productivity changed? What does it mean?
    Working Paper Series, Federal Reserve Bank of San Francisco View citations (60)
    Also in Current Policy Perspectives, Federal Reserve Bank of Boston (2015) View citations (11)
    See also Journal Article Why Has the Cyclicality of Productivity Changed? What Does It Mean?, Annual Review of Economics, Annual Reviews (2016) View citations (70) (2016)

2014

21. Bitcoin as money?
    Current Policy Perspectives, Federal Reserve Bank of Boston View citations (27)
22. Productivity in the slow lane?: the role of information and communications technology
    Current Policy Perspectives, Federal Reserve Bank of Boston
23. Student loan debt and economic outcomes
    Current Policy Perspectives, Federal Reserve Bank of Boston View citations (8)
24. Vanishing procyclicality of productivity?: industry evidence
    Working Papers, Federal Reserve Bank of Boston View citations (9)

2013

25. Technological progress, the \"user cost of money,\" and the real output of banks
    Working Papers, Federal Reserve Bank of Boston View citations (2)
26. The cost of fiscal policy uncertainty: industry evidence of its impact on the labor market
    Working Papers, Federal Reserve Bank of Boston

2011

27. Real Output of Bank Services: What Counts Is What Banks Do, Not What They Own
    GGDC Research Memorandum, Groningen Growth and Development Centre, University of Groningen View citations (8)
    Also in Working Papers, Federal Reserve Bank of Boston (2011) View citations (4)
    See also Journal Article Real Output of Bank Services: What Counts is What Banks Do, Not What They Own, Economica, London School of Economics and Political Science (2013) View citations (15) (2013)
28. The Great Recession and bank lending to small businesses
    Working Papers, Federal Reserve Bank of Boston View citations (7)

2009

29. TIPS scorecard: are TIPS accomplishing what they were supposed to accomplish?: can they be improved?
    Public Policy Discussion Paper, Federal Reserve Bank of Boston View citations (1)

2008

30. A General-Equilibrium Asset-Pricing Approach to the Measurement of Nominal and Real Bank Output
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (11)
    Also in Working Papers, Federal Reserve Bank of Boston (2004) View citations (25)
    See also Chapter A General-Equilibrium Asset-Pricing Approach to the Measurement of Nominal and Real Bank Output, NBER Chapters, National Bureau of Economic Research, Inc (2009) View citations (9) (2009)
31. Risk Bearing, Implicit Financial Services and Specialization in the Financial Industry
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
    Also in Public Policy Discussion Paper, Federal Reserve Bank of Boston (2005) View citations (9)
32. The Value of Risk: Measuring the Service Output of U.S. Commercial Banks
    GGDC Research Memorandum, Groningen Growth and Development Centre, University of Groningen View citations (1)
    Also in Working Papers, Federal Reserve Bank of Boston (2008) View citations (15)
    NBER Working Papers, National Bureau of Economic Research, Inc (2008) View citations (4)
    See also Journal Article THE VALUE OF RISK: MEASURING THE SERVICE OUTPUT OF U.S. COMMERCIAL BANKS, Economic Inquiry, Western Economic Association International (2011) View citations (39) (2011)

2003

33. Loanable funds, risk, and bank service output
    Working Papers, Federal Reserve Bank of Boston View citations (6)
34. Merger-related cost savings in the production of bank services
    Working Papers, Federal Reserve Bank of Boston View citations (6)
35. Productivity and economies of scale in the production of bank service value added
    Working Papers, Federal Reserve Bank of Boston View citations (12)
36. Service output of bank holding companies in the 1990s and the role of risk
    Working Papers, Federal Reserve Bank of Boston View citations (2)

Journal Articles

2016

1. Why Has the Cyclicality of Productivity Changed? What Does It Mean?
   Annual Review of Economics, 2016, 8, (1), 465-496 View citations (70)
   See also Working Paper Why has the cyclicality of productivity changed? What does it mean?, Working Paper Series (2016) View citations (60) (2016)

2013

2. Real Output of Bank Services: What Counts is What Banks Do, Not What They Own
   Economica, 2013, 80, (317), 96-117 View citations (15)
   See also Working Paper Real Output of Bank Services: What Counts Is What Banks Do, Not What They Own, GGDC Research Memorandum (2011) View citations (8) (2011)
3. The impact of policy uncertainty on U. S. employment: industry evidence
   Public Policy Brief, 2013 View citations (1)

2011

4. THE VALUE OF RISK: MEASURING THE SERVICE OUTPUT OF U.S. COMMERCIAL BANKS
   Economic Inquiry, 2011, 49, (1), 226-245 View citations (39)
   See also Working Paper The Value of Risk: Measuring the Service Output of U.S. Commercial Banks, GGDC Research Memorandum (2008) View citations (1) (2008)
5. What is the value of bank output?
   FRBSF Economic Letter, 2011, (may16) View citations (1)

2010

6. Evidence of a credit crunch?: results from the 2010 survey of first district community banks
   Public Policy Brief, 2010

2006

7. Financial innovations, idiosyncratic risk, and the joint evolution of real and financial volatilities
   Proceedings, 2006, (Nov) View citations (1)

Chapters

2010

1. Risk and bank service output
   A chapter in The IFC's contribution to the 57th ISI Session, Durban, August 2009, 2010, vol. 33, pp 317-333 View citations (13)

2009

2. A General-Equilibrium Asset-Pricing Approach to the Measurement of Nominal and Real Bank Output
   A chapter in Price Index Concepts and Measurement, 2009, pp 273-320 View citations (9)
   See also Working Paper A General-Equilibrium Asset-Pricing Approach to the Measurement of Nominal and Real Bank Output, National Bureau of Economic Research, Inc (2008) View citations (11) (2008)