Shouyong Shi

Pennsylvania State University

University Park

State College, PA 16802

United States

SCHOLARLY PAPERS

41

DOWNLOADS
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4,725

SSRN CITATIONS
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SSRN RANKINGS

Top 2,759

in Total Papers Citations

197

CROSSREF CITATIONS

236

Scholarly Papers (41)

1.

Publicity and the Clustering of IPO Underpricing

Number of pages: 36 Posted: 04 Jan 2000
Melanie Cao and Shouyong Shi
York University - Schulich School of Business and Pennsylvania State University
Downloads 638 (44,457)
Citation 2

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2.

Liquidity, Assets and Business Cycles

Number of pages: 37 Posted: 24 May 2011 Last Revised: 02 Jul 2012
Shouyong Shi
Pennsylvania State University
Downloads 463 (66,742)
Citation 23

Abstract:

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Liquidity, Asset prices, Business Cycle

3.

Wealth Accumulation, On-the-Job Search and Inequality

Number of pages: 42 Posted: 06 Jan 2017 Last Revised: 18 Jun 2020
Gaston Chaumont and Shouyong Shi
University of Rochester and Pennsylvania State University
Downloads 426 (73,818)
Citation 4

Abstract:

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Wealth accumulation, On-the-job search, Inequality, Directed search

4.

Endogenously Procyclical Liquidity, Capital Reallocation, and q

Number of pages: 56 Posted: 17 Nov 2014 Last Revised: 03 Oct 2017
Melanie Cao and Shouyong Shi
York University - Schulich School of Business and Pennsylvania State University
Downloads 325 (100,757)
Citation 4

Abstract:

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Endogenous liquidity, Capital reallocation, Tobin's q, Frictions

5.

Should Buyers or Sellers Organize Trade in a Frictional Market?

Number of pages: 50 Posted: 17 Feb 2016 Last Revised: 27 Feb 2018
Shouyong Shi and Alain Delacroix
Pennsylvania State University and University of Quebec at Montreal (UQAM)
Downloads 308 (106,845)
Citation 6

Abstract:

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Market organization, Search, Efficiency

6.

Efficient Job Upgrading, Search on the Job and Output Dispersion

Number of pages: 56 Posted: 08 Feb 2016 Last Revised: 26 Aug 2016
Shouyong Shi
Pennsylvania State University
Downloads 274 (121,106)
Citation 2

Abstract:

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Job upgrading; On-the-job search; Frictional dispersion; Return to tenure; Cost of job loss

7.

Burdett-Mortensen Model of On-the-Job Search with Two Sectors

Number of pages: 57 Posted: 11 Dec 2014 Last Revised: 08 Aug 2015
Florian Hoffmann and Shouyong Shi
University of British Columbia (UBC) and Pennsylvania State University
Downloads 241 (138,104)
Citation 3

Abstract:

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Search on the job, Wage dispersion, Constant tension

8.
Downloads 180 (181,500)
Citation 11

Efficient Search on the Job and the Business Cycle

PIER Working Paper No. 08-029
Number of pages: 50 Posted: 13 Aug 2008
Guido Menzio and Shouyong Shi
University of Pennsylvania - Department of Economics and Pennsylvania State University
Downloads 146 (217,235)
Citation 11

Abstract:

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Directed Search, On the Job Search, Business Cycles

Efficient Search on the Job and the Business Cycle

NBER Working Paper No. w14905
Number of pages: 51 Posted: 28 Apr 2009 Last Revised: 29 Apr 2009
Guido Menzio and Shouyong Shi
University of Pennsylvania - Department of Economics and Pennsylvania State University
Downloads 34 (496,452)

Abstract:

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9.

Screening, Bidding and the Loan Market

Number of pages: 46 Posted: 07 Dec 1999
Melanie Cao and Shouyong Shi
York University - Schulich School of Business and Pennsylvania State University
Downloads 157 (204,073)
Citation 3

Abstract:

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10.

Learning, On-the-Job Search and Wage-Tenure Contracts

Number of pages: 67 Posted: 08 Mar 2018 Last Revised: 15 Aug 2018
Kevin Fawcett and Shouyong Shi
University of Toronto - Department of Economics and Pennsylvania State University
Downloads 154 (207,420)

Abstract:

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Learning, On-the-job search, Contracts, Inequality

11.

Long-Run Sectoral Reallocation, Job to Job Transitions, and Earnings Inequality: An Empirical Investigation

Number of pages: 59 Posted: 10 Aug 2016
Florian Hoffmann, Anton Laptiev and Shouyong Shi
University of British Columbia (UBC), University of British Columbia (UBC) - Vancouver School of Economics and Pennsylvania State University
Downloads 128 (240,495)
Citation 4

Abstract:

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Sectoral Reallocation, Job-to-job Transition, Earnings Inequality

12.

Sequentially Mixed Search and Equilibrium Price Dispersion

Number of pages: 45 Posted: 23 Nov 2018 Last Revised: 31 Oct 2019
Shouyong Shi
Pennsylvania State University
Downloads 123 (247,724)

Abstract:

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Sequentially mixed search, Price dispersion, Efficiency

13.

Search Theory; Current Perspectives

Number of pages: 17 Posted: 17 Dec 2009
Shouyong Shi
Pennsylvania State University
Downloads 118 (255,622)
Citation 4

Abstract:

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Search, Efficiency, Unemployment

14.

Vehicle Currency

Number of pages: 48 Posted: 14 Dec 2009
Michael B. Devereux and Shouyong Shi
University of British Columbia (UBC) - Department of Economics and Pennsylvania State University
Downloads 109 (270,481)

Abstract:

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Vehicle currency, Transactions cost, Welfare gains

15.

Customer Relationship and Sales

Number of pages: 48 Posted: 04 May 2011 Last Revised: 15 May 2011
Shouyong Shi
Pennsylvania State University
Downloads 90 (306,812)
Citation 8

Abstract:

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Sales, Customer relationship, Directed search

Friedman Meets Hosios: Efficiency in Search Models of Money

FRB of Cleveland Working Paper No. 04-08
Number of pages: 41 Posted: 10 Sep 2003 Last Revised: 30 Oct 2007
University of Basel - Faculty of Business and Economics, Federal Reserve Bank of Cleveland and Pennsylvania State University
Downloads 64 (377,787)
Citation 40

Abstract:

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money, search, Friedman rule, Hosios rule

Friedman Meets Hosios: Efficiency in Search Models of Money

Economic Journal, Vol. 117, No. 516, pp. 174-195, January 2007
Number of pages: 22 Posted: 19 Jan 2007
University of Basel - Faculty of Business and Economics, Federal Reserve Bank of Cleveland and Pennsylvania State University
Downloads 25 (548,358)
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17.

Emission Tax or Standard? The Role of Productivity Dispersion

Number of pages: 37 Posted: 20 Oct 2010 Last Revised: 19 Sep 2011
Zhe Li and Shouyong Shi
Shanghai University of Finance and Economics - School of Economics and Pennsylvania State University
Downloads 83 (322,669)
Citation 4

Abstract:

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emission tax, standard, productivity dispersion, abatement

18.

Post-Match Investment and Dynamic Sorting between Capital and Labor

Number of pages: 53 Posted: 11 Sep 2018 Last Revised: 29 Feb 2020
Shouyong Shi
Pennsylvania State University
Downloads 74 (345,125)

Abstract:

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Dynamic sorting, Investment, Inequality

19.
Downloads 71 (353,096)
Citation 6

A Monetary Theory with Non-Degenerate Distributions

PIER Working Paper No. 11-009
Number of pages: 57 Posted: 10 Apr 2011
Guido Menzio, Shouyong Shi and Hongfei Sun
University of Pennsylvania - Department of Economics, Pennsylvania State University and Queen's University
Downloads 37 (481,695)
Citation 7

Abstract:

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Money; Distribution; Search; Lattice-Theoretic

A Monetary Theory with Non-Degenerate Distributions

Number of pages: 56 Posted: 28 Mar 2011
Guido Menzio, Shouyong Shi and Hongfei Sun
University of Pennsylvania - Department of Economics, Pennsylvania State University and Queen's University
Downloads 34 (496,452)
Citation 1

Abstract:

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Money, Distribution, Search, Lattice-heoretic

20.

Liquidity, Innovation and Growth

Institute for Empirical Research in Economics University of Zurich Working Paper No. 441
Number of pages: 32 Posted: 25 Sep 2009 Last Revised: 23 Oct 2012
University of Basel - Faculty of Business and Economics, Banque de France, Monetary Policy Division and Pennsylvania State University
Downloads 70 (355,863)
Citation 6

Abstract:

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Inflation, growth, search, innovation, credit

Block Recursive Equilibria for Stochastic Models of Search on the Job

PIER Working Paper No. 09-005
Number of pages: 49 Posted: 26 Jan 2009 Last Revised: 09 Feb 2009
Guido Menzio and Shouyong Shi
University of Pennsylvania - Department of Economics and Pennsylvania State University
Downloads 59 (394,078)
Citation 30

Abstract:

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Directed Search, On the Job Search, Heterogeneity, Aggregate Fluctuations

Block Recursive Equilibria for Stochastic Models of Search on the Job

NBER Working Paper No. w14907
Number of pages: 49 Posted: 28 Apr 2009 Last Revised: 26 Sep 2010
Guido Menzio and Shouyong Shi
University of Pennsylvania - Department of Economics and Pennsylvania State University
Downloads 11 (647,770)

Abstract:

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22.

Efficient Investments, Job Dynamics and Frictional Dispersion

Number of pages: 54 Posted: 16 May 2018
Shouyong Shi
Pennsylvania State University
Downloads 64 (372,946)
Citation 3

Abstract:

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Firm Investments, On-the-Job Search, Frictional Dispersion, Return to Tenure, Cost of Job Loss

23.

Financial Frictions, Investment Delay and Asset Market Interventions

Number of pages: 53 Posted: 22 Sep 2013
Shouyong Shi and Christine Tewfik
Pennsylvania State University and University of Toronto - Department of Economics
Downloads 64 (372,946)
Citation 1

Abstract:

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Liquidity, Asset market interventions, Investment delay, Equity, Collateral

24.

Emission Taxes and Standards in a General Equilibrium with Productivity Dispersion and Abatement

Number of pages: 42 Posted: 08 Aug 2015 Last Revised: 13 Apr 2016
Zhe Li and Shouyong Shi
Shanghai University of Finance and Economics - School of Economics and Pennsylvania State University
Downloads 58 (391,734)
Citation 1

Abstract:

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emission tax, emission standard, productivity dispersion, abatement technology, general equilibrium

25.

Pricing and Signaling with Frictions

Number of pages: 39 Posted: 19 May 2012
Alain Delacroix and Shouyong Shi
University of Quebec at Montreal (UQAM) and Pennsylvania State University
Downloads 57 (395,035)
Citation 13

Abstract:

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26.
Downloads 45 (437,844)
Citation 3

Currency Areas and Monetary Coordination

Number of pages: 47 Posted: 14 Dec 2009
Qing Liu and Shouyong Shi
Tsinghua University - School of Economics & Management and Pennsylvania State University
Downloads 41 (463,424)

Abstract:

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Search frictions, Law of one price, Exchange rates, Currency areas, Monetary coordination

Currency Areas and Monetary Coordination

International Economic Review, Vol. 51, No. 3, pp. 813-836, August 2010
Number of pages: 24 Posted: 10 Aug 2010
Qing Liu and Shouyong Shi
Tsinghua University - School of Economics & Management and Pennsylvania State University
Downloads 4 (701,897)
Citation 1
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27.

Directed Search for Equilibrium Wage-Tenure Contracts

Econometrica, Vol. 77, No. 2, March 2009
Number of pages: 28 Posted: 14 Dec 2009
Shouyong Shi
Pennsylvania State University
Downloads 39 (462,500)
Citation 10

Abstract:

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Directed search, On-the-job search, Wage-tenure contracts

28.

Efficient Search on the Job and the Business Cycle, Second Version

PIER Working Paper No. 09-010
Number of pages: 51 Posted: 06 Mar 2009
Guido Menzio and Shouyong Shi
University of Pennsylvania - Department of Economics and Pennsylvania State University
Downloads 38 (466,724)
Citation 36

Abstract:

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Directed search, On the Job Search, Business Cycles

29.

Knowledge, Germs, and Output

Number of pages: 48 Posted: 11 Jun 2020
Shouyong Shi
Pennsylvania State University
Downloads 25 (532,329)
Citation 1

Abstract:

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Knowledge, Germs, Output, COVID-19

30.

An Equilibrium Theory of Learning, Search and Wages

Econometrica, Forthcoming
Number of pages: 29 Posted: 14 Dec 2009
Francisco M. Gonzalez and Shouyong Shi
University of Calgary - Department of Economics and Pennsylvania State University
Downloads 25 (532,329)
Citation 3

Abstract:

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Learning, Wages, Unemployment, Directed search, Monotone comparative statics

31.

International Borrowing, Specialization, and Unemployment in a Small Open Economy

Review of International Economics, Vol. 12, pp. 41-59, February 2004
Number of pages: 19 Posted: 02 Apr 2004
Patrick N. Osakwe and Shouyong Shi
United Nations Conference on Trade and Development and Pennsylvania State University
Downloads 22 (550,689)
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32.

Viewpoint: A Microfoundation of Monetary Economics

Canadian Journal of Economics, Vol. 39, No. 3, pp. 643-688, August 2006
Number of pages: 46 Posted: 15 Nov 2006
Shouyong Shi
Pennsylvania State University
Downloads 21 (556,901)
Citation 2
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33.

Nominal Bonds and Interest Rates

International Economic Review, Vol. 46, No. 2, pp. 579-612, May 2005
Number of pages: 34 Posted: 05 May 2005
Shouyong Shi
Pennsylvania State University
Downloads 21 (556,901)
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34.

A Model of Bureaucracy and Corruption

International Economic Review, Vol. 45, No. 3, pp. 873-908, August 2004
Number of pages: 36 Posted: 23 Aug 2004
Shouyong Shi and Ted P. Temzelides
Pennsylvania State University and Rice University
Downloads 18 (575,944)
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35.

Directed Search on the Job and the Wage Ladder

International Economic Review, Vol. 47, No. 2, pp. 651-699, May 2006
Number of pages: 49 Posted: 08 May 2006
Alain G. Delacroix and Shouyong Shi
Purdue University - Krannert School of Management and Pennsylvania State University
Downloads 16 (588,680)
Citation 5
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36.

Product Market and the Size-Wage Differential

International Economic Review, Vol. 43, pp. 21-54, 2002
Number of pages: 34 Posted: 27 Dec 2002
Shouyong Shi
Pennsylvania State University
Downloads 12 (615,670)
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37.

Efficiency Improvement from Restricting the Liquidity of Nominal Bonds

Number of pages: 38 Posted: 14 Dec 2009
Shouyong Shi
Pennsylvania State University
Downloads 8 (643,283)
Citation 1

Abstract:

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Nominal Bonds, Money, Efficiency, Return dominance

38.

Vehicle Currency

International Economic Review, Vol. 54, Issue 1, pp. 97-133, 2013
Number of pages: 37 Posted: 24 Jan 2013
Michael B. Devereux and Shouyong Shi
University of British Columbia (UBC) - Department of Economics and Pennsylvania State University
Downloads 1 (702,493)
Citation 3
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39.

Screening, Bidding, and the Loan Market Tightness

European Finance Review, Vol. 5, No. 1-2
Posted: 27 Dec 2001
Melanie Cao and Shouyong Shi
York University - Schulich School of Business and Pennsylvania State University

Abstract:

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loans, screening, bidding, informational externality

40.

Pricing and Matching with Frictions

Journal of Political Economy, Vol. 109, October 2001
Posted: 15 Oct 2001
Ken Burdett, Shouyong Shi and Randall Wright
University of Pennsylvania - Department of Economics, Pennsylvania State University and University of Wisconsin - Madison - Department of Finance, Investment and Banking

Abstract:

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41.

Fashion and Wealth Accumulation

Economic Theory, Vol. 14, Issue 2, August 1999
Posted: 16 Nov 1999
Shouyong Shi
Pennsylvania State University

Abstract:

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