Zheng Liu

Federal Reserve Banks - Federal Reserve Bank of San Francisco

101 Market Street

San Francisco, CA 94105

United States

SCHOLARLY PAPERS

28

DOWNLOADS
Rank 33,251

SSRN RANKINGS

Top 33,251

in Total Papers Downloads

2,821

SSRN CITATIONS
Rank 5,575

SSRN RANKINGS

Top 5,575

in Total Papers Citations

285

CROSSREF CITATIONS

30

Scholarly Papers (28)

1.

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

Number of pages: 75 Posted: 12 Oct 2020 Last Revised: 17 May 2022
University of International Business and Economics (UIBE) - School of International Trade and Economics (SITE), Federal Reserve Banks - Federal Reserve Bank of San Francisco, Central University of Finance and Economics (CUFE) - School of Finance and Fudan University - School of Economics
Downloads 268 (209,848)
Citation 1

Abstract:

Loading...

Bank risk-taking, banking regulations, monetary policy, credit misallocation, productivity, China

2.

Automation and the Rise of Superstar Firms

Number of pages: 48 Posted: 17 Mar 2022 Last Revised: 14 Nov 2023
Hamid Firooz, Zheng Liu and Yajie Wang
Department of Economics, University of Rochester, Federal Reserve Banks - Federal Reserve Bank of San Francisco and University of Rochester
Downloads 226 (247,067)
Citation 1

Abstract:

Loading...

Automation, industry concentration, superstar firms, markup, productivity

3.

Local Government Debt and Bank Credit Allocation: Evidence from China

Number of pages: 45 Posted: 07 Jun 2023
University of International Business and Economics (UIBE) - School of International Trade and Economics (SITE), Federal Reserve Banks - Federal Reserve Bank of San Francisco, Central University of Finance and Economics (CUFE) - School of Finance and Fudan University - School of Economics
Downloads 193 (285,660)

Abstract:

Loading...

Local Government Debt, Credit Allocation, Bank Risk Management, Misallocation, China

4.

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

BOFIT Discussion Paper No. 15/2021
Number of pages: 62 Posted: 30 Oct 2021 Last Revised: 18 Nov 2021
University of International Business and Economics (UIBE) - School of International Trade and Economics (SITE), Federal Reserve Banks - Federal Reserve Bank of San Francisco, Central University of Finance and Economics (CUFE) - School of Finance and Fudan University - School of Economics
Downloads 174 (313,347)
Citation 5

Abstract:

Loading...

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

5.
Downloads 170 (319,726)
Citation 2

A Theory of Housing Demand Shocks

FRB Atlanta Working Paper No. 2019-4
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, Peking University HSBC Business School and Federal Reserve Bank of Atlanta
Downloads 126 (408,820)

Abstract:

Loading...

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

A Theory of Housing Demand Shocks

NBER Working Paper No. w25667
Number of pages: 41 Posted: 19 Mar 2019 Last Revised: 18 Feb 2023
Zheng Liu, Pengfei Wang and Tao A. Zha
Federal Reserve Banks - Federal Reserve Bank of San Francisco, Peking University HSBC Business School and Federal Reserve Bank of Atlanta
Downloads 44 (761,111)

Abstract:

Loading...

6.

Do Credit Constraints Amplify Macroeconomic Fluctuations?

FRB Atlanta Working Paper No. 2010-1
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, Peking University HSBC Business School and Federal Reserve Bank of Atlanta
Downloads 162 (333,275)
Citation 15

Abstract:

Loading...

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

7.

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 147 (361,136)
Citation 19

Abstract:

Loading...

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

8.

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 135 (386,146)

Abstract:

Loading...

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

9.

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 133 (390,724)
Citation 2

Abstract:

Loading...

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

10.

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 127 (404,999)

Abstract:

Loading...

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

11.

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 124 (412,381)
Citation 4

Abstract:

Loading...

Technology Shock, Employment, Wages, Prices, Business Cycle

12.

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 110 (450,848)
Citation 4

Abstract:

Loading...

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

13.
Downloads 109 (453,964)
Citation 102

Land-Price Dynamics and Macroeconomic Fluctuations

NBER Working Paper No. w17045
Number of pages: 44 Posted: 16 May 2011 Last Revised: 28 Jan 2023
Federal Reserve Banks - Federal Reserve Bank of San Francisco, Federal Reserve Banks - Federal Reserve Bank of San Francisco, Peking University HSBC Business School and Federal Reserve Bank of Atlanta
Downloads 55 (688,338)
Citation 17

Abstract:

Loading...

Land-Price Dynamics and Macroeconomic Fluctuations

FRB Atlanta Working Paper No. 2011-11
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, Peking University HSBC Business School and Federal Reserve Bank of Atlanta
Downloads 54 (694,508)
Citation 25

Abstract:

Loading...

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

14.

Turbulent Business Cycles

HKUST Business School Research Paper No. 2022-059
Number of pages: 74 Posted: 27 Apr 2022 Last Revised: 06 Sep 2023
Ding Dong, Zheng Liu and Pengfei Wang
Hong Kong University of Science & Technology (HKUST) - Department of Economics, Federal Reserve Banks - Federal Reserve Bank of San Francisco and Peking University HSBC Business School
Downloads 84 (538,732)

Abstract:

Loading...

Turbulence, heterogeneous firms, financial frictions, reallocation, productivity, business cycles

15.

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 74 (580,025)
Citation 2

Abstract:

Loading...

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

16.

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 71 (593,374)
Citation 2

Abstract:

Loading...

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

17.

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 71 (593,374)

Abstract:

Loading...

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

18.

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 65 (621,690)
Citation 9

Abstract:

Loading...

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

19.

Sources of Macroeconomic Fluctuations: A Regime-Switching DSGE Approach

FRB Atlanta Working Paper No. 2009-3a
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 64 (626,718)
Citation 20

Abstract:

Loading...

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

20.

Capital Flows and Income Inequality

Number of pages: 55 Posted: 30 Mar 2022
Zheng Liu, Mark M. Spiegel and JINGYI ZHANG
Federal Reserve Banks - Federal Reserve Bank of San Francisco, Federal Reserve Bank of San Francisco - Economic Research Department and Shanghai University of Finance and Economics
Downloads 61 (642,037)
Citation 2

Abstract:

Loading...

Capital flows, income distribution, heterogeneous agents, capital-skill complementarity, financial frictions, small open economy

21.

Land Prices and Unemployment

FRB Atlanta Working Paper No. 2013-6
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 61 (642,037)
Citation 2

Abstract:

Loading...

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

22.

Vertical Production and Trade Interdependence and Welfare

FRB Philadelphia Working Paper No. 05-15
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 61 (642,037)

Abstract:

Loading...

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

23.

Asymmetric Expectation Effects of Regime Shifts and the Great Moderation

FRB Atlanta Working Paper No. 2007-23
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 43 (749,640)
Citation 2

Abstract:

Loading...

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

24.

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 33 (823,799)

Abstract:

Loading...

technology shock, nominal rigidities, monetary policy

25.

Land Prices and Unemployment

NBER Working Paper No. w19382
Number of pages: 46 Posted: 30 Aug 2013 Last Revised: 18 Jun 2023
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 30 (848,565)
Citation 7

Abstract:

Loading...

26.

Fiscal Stimulus Under Average Inflation Targeting

Number of pages: 46 Posted: 24 Apr 2023
Zheng Liu, Jianjun Miao and Dongling Su
Federal Reserve Banks - Federal Reserve Bank of San Francisco, Boston University - Department of Economics and Shanghai University of Finance and Economics
Downloads 25 (892,339)

Abstract:

Loading...

Average inflation targeting, fiscal multiplier, monetary policy rules, fiscal policy rules, DSGE model

27.

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

Abstract:

Loading...

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

28.

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:

Loading...

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