Zheng Liu

Federal Reserve Banks - Federal Reserve Bank of San Francisco

101 Market Street

San Francisco, CA 94105

United States

SCHOLARLY PAPERS

23

DOWNLOADS
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Top 44,094

in Total Papers Downloads

1,353

SSRN CITATIONS
Rank 6,698

SSRN RANKINGS

Top 6,698

in Total Papers Citations

171

CROSSREF CITATIONS

27

Scholarly Papers (23)

1.

Do Credit Constraints Amplify Macroeconomic Fluctuations?

Number of pages: 40 Posted: 23 Mar 2015
Zheng Liu, Pengfei Wang and Tao A. Zha
Federal Reserve Banks - Federal Reserve Bank of San Francisco, HKUST, Department of Economics and Federal Reserve Bank of Atlanta
Downloads 122 (291,461)
Citation 15

Abstract:

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credit constraints, collateral asset, housing prices, investment, financial multiplier, business cycle, structural estimation

2.

Why Does the Cyclical Behavior of Real Wages Change Over Time?

FRB of Kansas City Working Paper No. 02-09
Number of pages: 38 Posted: 16 Apr 2003
Federal Reserve Bank of PhiladelphiaVanderbilt University - College of Arts and Science - Department of Economics, Federal Reserve Banks - Federal Reserve Bank of San Francisco and Universite du Quebec a Montreal
Downloads 121 (293,152)
Citation 13

Abstract:

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Real Wage Cyclicality, Staggered Price and Wage Setting, Input-Output Structure

3.

Temptation and Self-Control: Some Evidence from the Consumer Expenditure Survey

Number of pages: 33 Posted: 01 Feb 2005
Federal Reserve Bank of PhiladelphiaVanderbilt University - College of Arts and Science - Department of Economics, Federal Reserve Banks - Federal Reserve Bank of San Francisco and Fudan University - School of Management
Downloads 110 (313,634)
Citation 2

Abstract:

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Temptation, Self-control, Gul-Pesendorfer preferences, Asset pricing

4.

Gains from International Monetary Policy Coordination: Does it Pay to Be Different?

ECB Working Paper No. 514
Number of pages: 55 Posted: 26 Aug 2005
Zheng Liu and Evi Pappa
Federal Reserve Banks - Federal Reserve Bank of San Francisco and London School of Economics & Political Science (LSE)
Downloads 109 (315,605)

Abstract:

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International Policy Coordination, Optimal Monetary Policy, Asymmetric Structures, Terms-of-Trade Bias

5.

What Explains the Effects of Technology Shocks on Labor Market Dynamics?

Number of pages: 29 Posted: 27 Sep 2004
Zheng Liu and Louis Phaneuf
Federal Reserve Banks - Federal Reserve Bank of San Francisco and Universite du Quebec a Montreal
Downloads 105 (323,754)

Abstract:

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Technology shock, employment, real wage, sticky price, business cycle

6.
Downloads 98 (338,682)

A Theory of Housing Demand Shocks

Number of pages: 40 Posted: 28 Mar 2019 Last Revised: 29 Apr 2020
Zheng Liu, Pengfei Wang and Tao A. Zha
Federal Reserve Banks - Federal Reserve Bank of San Francisco, HKUST, Department of Economics and Federal Reserve Bank of Atlanta
Downloads 79 (390,611)

Abstract:

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price-rent puzzle, heterogeneity, marginal agent, cutoff point, liquidity premium, price-to-rent ratio, collateral constraint

A Theory of Housing Demand Shocks

Number of pages: 41 Posted: 19 Mar 2019 Last Revised: 20 Aug 2021
Zheng Liu, Pengfei Wang and Tao A. Zha
Federal Reserve Banks - Federal Reserve Bank of San Francisco, HKUST, Department of Economics and Federal Reserve Bank of Atlanta
Downloads 19 (680,184)

Abstract:

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7.

Bank Risk-Taking and Monetary Policy Transmission: Evidence from China

Number of pages: 55 Posted: 12 Oct 2020 Last Revised: 26 Feb 2021
Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF), Federal Reserve Banks - Federal Reserve Bank of San Francisco, Central University of Finance and Economics (CUFE) - School of Finance and Peking University HSBC Business School
Downloads 93 (355,020)

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Bank risk-taking, banking regulations, risk-weighting, monetary policy, difference-in-difference, China

8.

Openness and Equilibrium Determinacy Under Interest Rate Rules

Number of pages: 43 Posted: 14 Jan 2003
Fiorella De Fiore and Zheng Liu
Bank for International Settlements (BIS) - Monetary and Economic Department and Federal Reserve Banks - Federal Reserve Bank of San Francisco
Downloads 90 (357,496)

Abstract:

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Indeterminacy, Interest Rate Rules, Small Open Economy, Terms of Trade

9.

Technology Shocks and Labor Market Dynamics: Some Evidence and Theory

Number of pages: 37 Posted: 14 Jan 2006
Zheng Liu and Louis Phaneuf
Federal Reserve Banks - Federal Reserve Bank of San Francisco and Universite du Quebec a Montreal
Downloads 77 (392,423)
Citation 4

Abstract:

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Technology Shock, Employment, Wages, Prices, Business Cycle

10.
Downloads 62 (440,567)
Citation 61

Land-Price Dynamics and Macroeconomic Fluctuations

Number of pages: 44 Posted: 16 May 2011 Last Revised: 30 Jul 2021
Federal Reserve Banks - Federal Reserve Bank of San Francisco, Federal Reserve Banks - Federal Reserve Bank of San Francisco, HKUST, Department of Economics and Federal Reserve Bank of Atlanta
Downloads 33 (581,308)
Citation 17

Abstract:

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Land-Price Dynamics and Macroeconomic Fluctuations

Number of pages: 43 Posted: 22 Mar 2015
Zheng Liu, Pengfei Wang and Tao A. Zha
Federal Reserve Banks - Federal Reserve Bank of San Francisco, HKUST, Department of Economics and Federal Reserve Bank of Atlanta
Downloads 29 (606,193)
Citation 33

Abstract:

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land prices, collateral assets, investment, dynamic multiplier, propagation mechanism, co-movements

11.

Multiple Stages of Processing and the Quantity Anomaly in International Business Cycle Models

FRB of Kansas City Working Paper No. 04-05, FRB Philadelphia Working Paper No. 04-8
Number of pages: 40 Posted: 05 Aug 2004
Federal Reserve Bank of PhiladelphiaVanderbilt University - College of Arts and Science - Department of Economics and Federal Reserve Banks - Federal Reserve Bank of San Francisco
Downloads 52 (478,055)
Citation 2

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Stages of Processing, Monopolistic Competition, Local Currency Pricing, Welfare

12.

Production Interdependence and Welfare

Number of pages: 41 Posted: 05 Aug 2004
Federal Reserve Bank of PhiladelphiaVanderbilt University - College of Arts and Science - Department of Economics and Federal Reserve Banks - Federal Reserve Bank of San Francisco
Downloads 52 (478,055)

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Stages of Processing, Monopolistic Competition, Local Currency Pricing, Welfare

13.

Gains from Coordination in a Multi-Sector Open Economy: Does it Pay to Be Different?

IGIER Working Paper No. 296
Number of pages: 48 Posted: 18 Dec 2005
Zheng Liu and Evi Pappa
Federal Reserve Banks - Federal Reserve Bank of San Francisco and London School of Economics & Political Science (LSE)
Downloads 48 (494,699)
Citation 2

Abstract:

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Optimal Monetary Policy, International Policy Coordination, Multiple Sectors, Asymmetric Structures, Sticky Prices

14.

Vertical Production and Trade Interdependence and Welfare

Number of pages: 40 Posted: 01 Sep 2005
Federal Reserve Bank of PhiladelphiaVanderbilt University - College of Arts and Science - Department of Economics and Federal Reserve Banks - Federal Reserve Bank of San Francisco
Downloads 40 (531,134)

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Vertical production and trade, monopolistic competition, terms-of-trade, welfare

15.

Learning, Adaptive Expectations, and Technology Shocks

FRB of Atlanta Working Paper No. 2008-20
Number of pages: 38 Posted: 13 Nov 2008
Federal Reserve Bank of PhiladelphiaVanderbilt University - College of Arts and Science - Department of Economics, Federal Reserve Banks - Federal Reserve Bank of San Francisco and Federal Reserve Bank of Atlanta
Downloads 37 (546,132)
Citation 9

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self-confirming equilibrium, amplification, labor market dynamics, wealth and substitution effects, hump-shaped responses

16.

Sources of Macroeconomic Fluctuations: A Regime-Switching DSGE Approach

Number of pages: 75 Posted: 19 Mar 2015
Federal Reserve Banks - Federal Reserve Bank of San Francisco, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 35 (556,616)
Citation 16

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systematic analysis, regime switching, depreciation shock, efficient estimation methods

17.

Land Prices and Unemployment

Number of pages: 45 Posted: 22 Mar 2015
Zheng Liu, Jianjun Miao and Tao A. Zha
Federal Reserve Banks - Federal Reserve Bank of San Francisco, Boston University - Department of Economics and Federal Reserve Bank of Atlanta
Downloads 34 (561,951)
Citation 2

Abstract:

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Housing and labor markets, volatility, match value of employment, marginal utility of consumption, credit channel, labor channel

18.

Bank Risk-Taking and Monetary Policy Transmission: Evidence from China

Number of pages: 62 Posted: 30 Oct 2021 Last Revised: 18 Nov 2021
Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF), Federal Reserve Banks - Federal Reserve Bank of San Francisco, Central University of Finance and Economics (CUFE) - School of Finance and Peking University HSBC Business School
Downloads 22 (636,686)

Abstract:

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bank risk-taking, banking regulations, risk-weighting, monetary policy, difference-in-difference, China

19.

Asymmetric Expectation Effects of Regime Shifts and the Great Moderation

Number of pages: 48 Posted: 23 Feb 2015
Federal Reserve Banks - Federal Reserve Bank of San Francisco, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 19 (658,043)
Citation 2

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structural breaks, expectations formation, monetary policy regime, macroeconomic volatility, Lucas critique

20.

Do Nominal Rigidities Matter for the Transmission of Technology Shocks?

CIRPEE Working Paper 08-37
Number of pages: 23 Posted: 24 Jun 2009
Zheng Liu and Louis Phaneuf
Federal Reserve Banks - Federal Reserve Bank of San Francisco and Universite du Quebec a Montreal
Downloads 19 (658,043)

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technology shock, nominal rigidities, monetary policy

21.

Land Prices and Unemployment

Number of pages: 46 Posted: 30 Aug 2013 Last Revised: 18 Jun 2021
Federal Reserve Banks - Federal Reserve Bank of San Francisco, Federal Reserve Banks - Federal Reserve Bank of San Francisco, Boston University - Department of Economics and Federal Reserve Bank of Atlanta
Downloads 8 (742,295)
Citation 7

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22.

Temptation and Self-Control: Some Evidence and Applications

Posted: 25 Jul 2008
Federal Reserve Bank of PhiladelphiaVanderbilt University - College of Arts and Science - Department of Economics, Federal Reserve Banks - Federal Reserve Bank of San Francisco and affiliation not provided to SSRN

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Temptation, Self-Control, Limited Participation, Asset Pricing, Welfare

23.

Inflation Targeting: What Inflation Rate to Target?

Journal of Monetary Economics, Vol. 52, No. 8, pp. 1435-1462, November 2005
Posted: 20 Sep 2004
Federal Reserve Bank of PhiladelphiaVanderbilt University - College of Arts and Science - Department of Economics and Federal Reserve Banks - Federal Reserve Bank of San Francisco

Abstract:

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Inflation targeting, CPI, PPI, Optimal monetary policy, Implementation, Welfare