J. Christina Wang

Federal Reserve Bank of Boston

600 Atlantic Avenue

Boston, MA 02210

United States

  • Federal Reserve Bank of Boston

SCHOLARLY PAPERS

32

DOWNLOADS

5,967

TOTAL CITATIONS

74

Scholarly Papers (32)

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1.

Runs and Flights to Safety: Are Stablecoins the New Money Market Funds?

FRB of New York Staff Report No. 1073, Rev. April 2024, https://doi.org/10.59576/sr.1073
Number of pages: 54 Posted: 25 Sep 2023 Last Revised: 11 Apr 2024
Kenechukwu Anadu, Pablo D Azar, Marco Cipriani, Thomas M. Eisenbach, Catherine Huang, Mattia Landoni, Gabriele La Spada, Marco Macchiavelli, Antoine Malfroy-Camine and J. Christina Wang
Federal Reserve Bank of Boston, Federal Reserve Banks - Federal Reserve Bank of New York, Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of New York, Federal Reserve Bank of Boston, Federal Reserve Banks - Federal Reserve Bank of New York, Isenberg School of Management, Federal Reserve Bank of Boston and Federal Reserve Bank of Boston
Downloads 862 (60,487)

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stablecoins, money market mutual funds, financial stability, crypto assets, runs, liquidity transformation

2.

Tips Scorecard: Are Tips Accomplishing What They Were Supposed to Accomplish? Can They Be Improved?

FRB of Boston Public Policy Discussion Paper No. 09-8
Number of pages: 55 Posted: 08 Dec 2009 Last Revised: 09 Mar 2010
Michelle L. Barnes, Zvi Bodie, Robert K. Triest and J. Christina Wang
Federal Reserve Bank of Boston, Boston University, Federal Reserve Bank of Boston - Research Department and Federal Reserve Bank of Boston
Downloads 621 (92,867)
Citation 1

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3.

A TIPS Scorecard: Are TIPS Accomplishing What They Were Supposed to Accomplish? Can They Be Improved?

Boston University School of Management Research Paper No. 2009-10
Number of pages: 57 Posted: 05 Sep 2009 Last Revised: 23 Feb 2018
Michelle L. Barnes, Zvi Bodie, Robert K. Triest and J. Christina Wang
Federal Reserve Bank of Boston, Boston University, Federal Reserve Bank of Boston - Research Department and Federal Reserve Bank of Boston
Downloads 534 (112,410)
Citation 2

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TIPS, assets, inflation, risk, CPI

4.

Productivity and Economies of Scale in the Production of Bank Service Value Added

Number of pages: 34 Posted: 13 Jan 2005
J. Christina Wang
Federal Reserve Bank of Boston
Downloads 458 (135,442)
Citation 4

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5.

Technology, the Nature of Information, and Fintech Marketplace Lending

Federal Reserve Bank of Boston Research Paper Series Current Policy Perspectives Paper No. 18-3
Number of pages: 51 Posted: 10 Jan 2019 Last Revised: 21 Feb 2019
J. Christina Wang
Federal Reserve Bank of Boston
Downloads 392 (162,074)

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online marketplace lending, boundary of the firm, FinTech, soft and hard information, information technology

6.

Runs and Flights to Safety: Are Stablecoins the New Money Market Funds?

Downloads 382 (167,273)

Runs and Flights to Safety: Are Stablecoins the New Money Market Funds?

FRB of Boston Supervisory Research & Analysis Unit Working Paper No. SRA 23-02
Number of pages: 55 Posted: 06 Oct 2023 Last Revised: 09 Apr 2024
Kenechukwu Anadu, Pablo Azar, Marco Cipriani, Thomas M. Eisenbach, Catherine Huang, Mattia Landoni, Gabriele La Spada, Marco Macchiavelli, Antoine Malfroy-Camine and J. Christina Wang
Federal Reserve Bank of Boston, Massachusetts Institute of Technology, Sloan School of Management, Students, Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of New York, Harvard University, Harvard Faculty of Arts and Sciences, Department of Economics, Students, Federal Reserve Bank of Boston, Federal Reserve Banks - Federal Reserve Bank of New York, Isenberg School of Management, Federal Reserve Bank of Boston and Federal Reserve Bank of Boston
Downloads 221 (294,909)

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stablecoins, money market mutual funds, financial stability, crypto assets, runs, liquidity transformation

Runs and Flights to Safety: Are Stablecoins the New Money Market Funds?

FRB of Boston Working Paper No. 23-11
Number of pages: 48 Posted: 09 Oct 2023
Kenechukwu Anadu, Pablo Azar, Catherine Huang, Marco Cipriani, Thomas M. Eisenbach, Gabriele La Spada, Mattia Landoni, Marco Macchiavelli, Antoine Malfroy-Camine and J. Christina Wang
Federal Reserve Bank of Boston, Massachusetts Institute of Technology, Sloan School of Management, Students, Independent, Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of New York, Federal Reserve Bank of Boston, Isenberg School of Management, Federal Reserve Bank of Boston and Federal Reserve Bank of Boston
Downloads 161 (393,612)

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stablecoins, money market mutual funds, financial stability, crypto assets, runs, liquidity transformation

7.

Loanable Funds, Risk, and Bank Service Output

Number of pages: 41 Posted: 13 Jan 2005
J. Christina Wang
Federal Reserve Bank of Boston
Downloads 322 (201,084)
Citation 15

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bank, service output, risk premium, value added

8.

Merger-Related Cost Savings in the Production of Bank Services

Number of pages: 41 Posted: 13 Jan 2005
J. Christina Wang
Federal Reserve Bank of Boston
Downloads 305 (213,204)
Citation 6

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9.

A General-Equilibrium Asset-Pricing Approach to the Measurement of Nominal and Real Bank Output

Downloads 223 (292,569)
Citation 6

A General-Equilibrium Asset-Pricing Approach to the Measurement of Nominal and Real Bank Output

Number of pages: 85 Posted: 13 Jan 2005
J. Christina Wang, Susanto Basu, Susanto Basu and John G. Fernald
Federal Reserve Bank of Boston, National Bureau of Economic Research (NBER)Boston College, College of Arts and Sciences, Department of Economics and Federal Reserve Bank of San Francisco
Downloads 171 (373,238)
Citation 1

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A General-Equilibrium Asset-Pricing Approach to the Measurement of Nominal and Real Bank Output

NBER Working Paper No. w14616
Number of pages: 52 Posted: 15 Jan 2009 Last Revised: 10 Dec 2022
J. Christina Wang, Susanto Basu, Susanto Basu and John G. Fernald
Federal Reserve Bank of Boston, National Bureau of Economic Research (NBER)Boston College, College of Arts and Sciences, Department of Economics and Federal Reserve Bank of San Francisco
Downloads 52 (839,287)
Citation 5

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10.

How Magic a Bullet Is Machine Learning for Credit Analysis? An Exploration with FinTech Lending Data

Downloads 180 (357,199)

How Magic a Bullet Is Machine Learning for Credit Analysis? An Exploration with FinTech Lending Data

Number of pages: 84 Posted: 14 Nov 2021
J. Christina Wang and Charles B. Perkins
Federal Reserve Bank of Boston and Independent
Downloads 107 (548,215)

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FinTech/marketplace lending, supervised machine learning, default prediction

How Magic a Bullet is Machine Learning for Credit Analysis? An Exploration with Fintech Lending Data

FRB of Boston Working Paper No. 19-16
Number of pages: 84 Posted: 02 Jun 2021
J. Christina Wang
Federal Reserve Bank of Boston
Downloads 73 (701,298)

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FinTech/marketplace lending, supervised machine learning, default prediction

11.

The Value of Risk: Measuring the Service Output of U.S. Commercial Banks

Downloads 159 (397,994)
Citation 2

The Value of Risk: Measuring the Service Output of U.S. Commercial Banks

FRB of Boston Working Paper No. 08-4
Number of pages: 37 Posted: 30 Jun 2008
Susanto Basu, Susanto Basu, Robert Inklaar and J. Christina Wang
National Bureau of Economic Research (NBER)Boston College, College of Arts and Sciences, Department of Economics, University of Groningen - Department of Economics and Federal Reserve Bank of Boston
Downloads 101 (572,594)

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The Value of Risk: Measuring the Service Output of U.S. Commercial Banks

NBER Working Paper No. w14615
Number of pages: 31 Posted: 15 Jan 2009 Last Revised: 09 Dec 2022
Susanto Basu, Susanto Basu, Robert Inklaar and J. Christina Wang
National Bureau of Economic Research (NBER)Boston College, College of Arts and Sciences, Department of Economics, University of Groningen - Department of Economics and Federal Reserve Bank of Boston
Downloads 58 (794,449)
Citation 2

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12.

Risk Bearing, Implicit Financial Services, and Specialization in the Financial Industry

Downloads 158 (400,132)

Risk Bearing, Implicit Financial Services, and Specialization in the Financial Industry

FRB of Boston Public Policy Discussion Paper No. 06-3
Number of pages: 32 Posted: 17 Jul 2006
J. Christina Wang, Susanto Basu and Susanto Basu
Federal Reserve Bank of Boston and National Bureau of Economic Research (NBER)Boston College, College of Arts and Sciences, Department of Economics
Downloads 117 (511,753)

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Risk Bearing, Implicit Financial Services and Specialization in the Financial Industry

NBER Working Paper No. w14614
Number of pages: 31 Posted: 17 Feb 2009 Last Revised: 08 Dec 2022
J. Christina Wang, Susanto Basu and Susanto Basu
Federal Reserve Bank of Boston and National Bureau of Economic Research (NBER)Boston College, College of Arts and Sciences, Department of Economics
Downloads 41 (935,608)

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13.

Rationing of Bank Credit to Small Businesses: Evidence from the Great Recession

Number of pages: 77 Posted: 19 Apr 2012
Judit Montoriol-Garriga, Judit Montoriol-Garriga and J. Christina Wang
La CaixaAutonomous University of Barcelona - Department of Business Economics and Federal Reserve Bank of Boston
Downloads 155 (406,789)
Citation 3

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small business lending, credit rationing, recession

14.

Service Output of Bank Holding Companies in the 1990s and the Role of Risk

Number of pages: 30 Posted: 13 Jan 2005
J. Christina Wang
Federal Reserve Bank of Boston
Downloads 155 (408,950)
Citation 5

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bank holding company, service output, risk premium, value added

15.

Why Has the Cyclicality of Productivity Changed?: What Does it Mean?

Downloads 145 (429,549)
Citation 25

Why Has the Cyclicality of Productivity Changed?: What Does it Mean?

Federal Reserve Bank of Boston Research Paper Series Current Policy Perspectives Paper No. 15-6
Number of pages: 53 Posted: 01 Jan 2016 Last Revised: 25 Apr 2022
John G. Fernald and J. Christina Wang
Federal Reserve Bank of San Francisco and Federal Reserve Bank of Boston
Downloads 145 (430,130)
Citation 25

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growth accounting, business cycles, procyclical productivity, labor hoarding, DSGE models

Why Has the Cyclicality of Productivity Changed? What Does it Mean?

Annual Review of Economics, Vol. 8, pp. 465-496, 2016
Posted: 18 Nov 2016
John G. Fernald and J. Christina Wang
Federal Reserve Bank of San Francisco and Federal Reserve Bank of Boston

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16.

Did High Leverage Render Small Businesses Vulnerable to the COVID-19 Shock?

Downloads 132 (463,245)

Did High Leverage Render Small Businesses Vulnerable to the COVID-19 Shock?

Number of pages: 64 Posted: 22 Jun 2022
Falk Bräuning, Jose L. Fillat and J. Christina Wang
Federal Reserve Bank of Boston, Federal Reserve Bank of Boston and Federal Reserve Bank of Boston
Downloads 83 (650,531)

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Did High Leverage Render Small Businesses Vulnerable to the COVID-19 Shock?

FRB of Boston Working Paper No. 22-13
Number of pages: 67 Posted: 18 Oct 2022
Falk Bräuning, Jose L. Fillat and J. Christina Wang
Federal Reserve Bank of Boston, Federal Reserve Bank of Boston and Federal Reserve Bank of Boston
Downloads 49 (863,654)

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leverage, small business, credit supply, bank capital, COVID-19

17.

Banks' Search for Yield in the Low Interest Rate Environment: A Tale of Regulatory Adaptation

FRB of Boston Working Paper No. 17-3
Number of pages: 90 Posted: 21 Jun 2017 Last Revised: 22 Jun 2017
J. Christina Wang
Federal Reserve Bank of Boston
Downloads 113 (522,395)

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banks, reaching for yield, maturity mismatch, regulation, zero lower bound

18.

Corporate Debt Maturity and Monetary Policy

Federal Reserve Bank of Boston Research Paper Series Current Policy Perspectives Paper No. 88967
Number of pages: 31 Posted: 02 Jun 2021
Falk Bräuning, Jose L. Fillat and J. Christina Wang
Federal Reserve Bank of Boston, Federal Reserve Bank of Boston and Federal Reserve Bank of Boston
Downloads 106 (547,870)
Citation 1

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monetary policy, yield curves, corporate finance

19.

Lease Expirations and Cre Property Performance

FRB of Boston Working Paper No. 23-10
Number of pages: 27 Posted: 09 Oct 2023
David Glancy and J. Christina Wang
Board of Governors of the Federal Reserve System and Federal Reserve Bank of Boston
Downloads 96 (587,009)

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commercial real estate, lease expirations, COVID-19, office loans, bank loan exposure

20.

The Equilibrium Real Policy Rate Through the Lens of Standard Growth Models

Federal Reserve Bank of Boston Research Paper Series Current Policy Perspectives Paper No. 17-6
Number of pages: 32 Posted: 22 Nov 2017
Daniel E. Sichel and J. Christina Wang
Wellesley College and Federal Reserve Bank of Boston
Downloads 82 (646,773)

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monetary policy, productivity, natural rate of interest, growth models

21.

The Main Street Lending Program: Who Borrowed and How Have They Benefited?

FRB of Boston Working Paper No. 22-24
Number of pages: 50 Posted: 21 Dec 2022
J. Christina Wang
Federal Reserve Bank of Boston
Downloads 80 (656,142)

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COVID-19, Main Street Lending Program, SMEs, credit frictions

22.

The Great Leverage 2.0? A Tale of Different Indicators of Corporate Leverage

Federal Reserve Bank of Boston Research Paper Series Current Policy Perspectives Paper No. 87795
Number of pages: 19 Posted: 29 Apr 2020
Falk Bräuning and J. Christina Wang
Federal Reserve Bank of Boston and Federal Reserve Bank of Boston
Downloads 75 (680,396)
Citation 1

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financial stability, low interest rates, monetary policy, interest coverage, business leverage

23.

What Do 25 Million Records of Small Businesses Say About the Effects of the PPP?

FRB of Boston Working Paper No. 22-23
Number of pages: 67 Posted: 21 Dec 2022
Gustavo Joaquim and J. Christina Wang
Federal Reserve Bank of Boston and Federal Reserve Bank of Boston
Downloads 66 (729,465)

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Paycheck Protection Program, small business lending, financial frictions

24.

A Helping Hand to Main Street Where and When it Was Needed

Federal Reserve Bank of Boston Research Paper Series Current Policy Perspectives Paper No. 92116
Number of pages: 15 Posted: 02 Jun 2021
Frankie Lin, Falk Bräuning, Jose L. Fillat and J. Christina Wang
Federal Reserve Bank of Boston, Federal Reserve Bank of Boston, Federal Reserve Bank of Boston and Federal Reserve Bank of Boston
Downloads 59 (772,494)
Citation 3

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Main Street Lending Program, COVID-19, emergency lending facilities, credit demand

25.

The Tail that Wagged the Dog: What Explains the Persistent Employment Effect of the 10-Day PPP Funding Delay?

FRB of Boston Working Paper No. 23-6
Number of pages: 59 Posted: 21 Aug 2023
Olga Gorbachev, Maria Jose Luengo-Prado and J. Christina Wang
University of Delaware - Economics, Indus Center for Academic Excellence and Federal Reserve Bank of Boston
Downloads 48 (852,859)

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COVID-19, Paycheck Protection Program, small business credit, remote work, employment

26.

Cities Disrupted: The Diverse Impact of the PPP and Other Pandemic Support Programs

Number of pages: 73 Posted: 14 Feb 2024
Olga Gorbachev, Maria Jose Luengo-Prado and J. Christina Wang
University of Delaware - Economics, Indus Center for Academic Excellence and Federal Reserve Bank of Boston
Downloads 27 (1,059,506)

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COVID-19, Paycheck Protection Program, CARES Act, small business credit, employment

27.

A Portrait of First District Banks

Federal Reserve Bank of Boston Research Paper Series New England Public Policy Center Regional Briefs Paper No. 2024-2
Number of pages: 10 Posted: 09 Aug 2024
J. Christina Wang
Federal Reserve Bank of Boston
Downloads 16 (1,195,520)

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New England, community banks, small business credit

28.

Productivity Improvements and Markup Normalization Can Support Further Wage Gains Without Inflationary Pressures

Federal Reserve Bank of Boston Research Paper Series Current Policy Perspectives Paper No. 2024-5
Number of pages: 10 Posted: 01 Jul 2024
Vaishali Garga, Giovanni Olivei and J. Christina Wang
Federal Reserve Bank of Boston, Federal Reserve Bank of Boston and Federal Reserve Bank of Boston
Downloads 16 (1,195,520)

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wage inflation, productivity

29.

Stablecoins and Crypto Shocks: An Update

Liberty Street Economics
Posted: 23 Apr 2025
Kenechukwu Anadu, Pablo D Azar, Marco Cipriani, Thomas M. Eisenbach, Catherine Huang, Mattia Landoni, Gabriele La Spada, Marco Macchiavelli, Antoine Malfroy-Camine and J. Christina Wang
Federal Reserve Bank of Boston, Federal Reserve Banks - Federal Reserve Bank of New York, Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of New York, Harvard University, Harvard Faculty of Arts and Sciences, Department of Economics, Students, Federal Reserve Bank of Boston, Federal Reserve Banks - Federal Reserve Bank of New York, Isenberg School of Management, Federal Reserve Bank of Boston and Federal Reserve Bank of Boston

Abstract:

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stablecoins, crypto assets

30.

Stablecoins and Crypto Shocks

Liberty Street Economics
Posted: 11 Mar 2024
Kenechukwu Anadu, Pablo D Azar, Marco Cipriani, Thomas M. Eisenbach, Catherine Huang, Mattia Landoni, Gabriele La Spada, Marco Macchiavelli, Antoine Malfroy-Camine and J. Christina Wang
Federal Reserve Bank of Boston, Federal Reserve Banks - Federal Reserve Bank of New York, Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of New York, Harvard University, Harvard Faculty of Arts and Sciences, Department of Economics, Students, Federal Reserve Bank of Boston, Federal Reserve Banks - Federal Reserve Bank of New York, Isenberg School of Management, Federal Reserve Bank of Boston and Federal Reserve Bank of Boston

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stablecoins, runs, money market funds, MMFs, financial stability

31.

Runs on Stablecoins

Liberty Street Economics
Posted: 12 Jul 2023
Kenechukwu Anadu, Pablo D Azar, Marco Cipriani, Thomas M. Eisenbach, Catherine Huang, Mattia Landoni, Gabriele La Spada, Marco Macchiavelli, Antoine Malfroy-Camine and J. Christina Wang
Federal Reserve Bank of Boston, Federal Reserve Banks - Federal Reserve Bank of New York, Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of New York, Federal Reserve Bank of Boston, Federal Reserve Banks - Federal Reserve Bank of New York, Isenberg School of Management, Federal Reserve Bank of Boston and Federal Reserve Bank of Boston

Abstract:

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E42

32.

A Tips Scorecard: Are They Accomplishing Their Objectives?

Financial Analysts Journal, Vol. 66, No. 5, 2010
Posted: 16 Oct 2010
Michelle L. Barnes, Zvi Bodie, Robert K. Triest and J. Christina Wang
Federal Reserve Bank of Boston, Boston University, Federal Reserve Bank of Boston - Research Department and Federal Reserve Bank of Boston

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Fixed Income, Fixed-Income Markets, Characteristics, Institutions, and Benchmarks, U.S. Treasury Securities