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Bin Wei

Federal Reserve Bank of Atlanta

Financial Economist and Associate Policy Adviser

1000 Peachtree Street N.E.

Atlanta, GA 30309-4470

United States

http://https://www.frbatlanta.org/research/economists/wei-bin.aspx

SCHOLARLY PAPERS

27

DOWNLOADS

10,131

TOTAL CITATIONS

147

Scholarly Papers (27)

How Credible is Hong Kong's Currency Peg?

The Wharton School Research Paper
Number of pages: 36 Posted: 13 Feb 2025 Last Revised: 20 Sep 2025
University of Pennsylvania - Finance Department, Federal Reserve Banks - Federal Reserve Bank of Atlanta and affiliation not provided to SSRN
Downloads 1,937
Citation 1

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Hong Kong dollar, HKD, currency board, peg, central parity, credibility

How Credible is Hong Kong's Currency Peg?

NBER Working Paper No. w34300
Number of pages: 37 Posted: 30 Sep 2025
University of Pennsylvania - Finance Department, Federal Reserve Banks - Federal Reserve Bank of Atlanta and Board of Governors of the Federal Reserve System
Downloads 14
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Uncertainty, Risk, and Incentives: Theory and Evidence

Sixth Singapore International Conference on Finance 2012 Paper
Number of pages: 38 Posted: 07 Nov 2010 Last Revised: 24 Feb 2013
Bin Wei, Jianfeng Yu, Zhiguo He and Si Li
Federal Reserve Banks - Federal Reserve Bank of Atlanta, Tsinghua University - Tsinghua University School of Economics and Management, Stanford University - Knight Management Center and Wilfrid Laurier University - School of Business & Economics
Downloads 421

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executive compensation, optimal contracting, learning, uncertainty, risk-incentive trade-off

Uncertainty, Risk, and Incentives: Theory and Evidence

Number of pages: 38 Posted: 17 Mar 2012 Last Revised: 24 Feb 2013
Zhiguo He, Si Li, Jianfeng Yu and Bin Wei
Stanford University - Knight Management Center, Wilfrid Laurier University - School of Business & Economics, Tsinghua University - Tsinghua University School of Economics and Management and Federal Reserve Banks - Federal Reserve Bank of Atlanta
Downloads 177

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executive compensation, optimal contracting, learning, uncertainty, risk-incentive trade-off

Uncertainty, Risk, and Incentives: Theory and Evidence

FEDS Working Paper No. 2013-18
Number of pages: 39 Posted: 09 Apr 2013
Jianfeng Yu, Si Li, Zhiguo He and Bin Wei
Tsinghua University - Tsinghua University School of Economics and Management, Wilfrid Laurier University - School of Business & Economics, Stanford University - Knight Management Center and Federal Reserve Banks - Federal Reserve Bank of Atlanta
Downloads 172
Citation 5

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Executive compensation, optimal contracting, learning, uncertainty, risk-incentive trade-off

3.

Quantifying ‘Quantitative Tightening’ (QT): How Many Rate Hikes Is QT Equivalent To?

Number of pages: 29 Posted: 24 May 2022
Bin Wei
Federal Reserve Banks - Federal Reserve Bank of Atlanta
Downloads 612

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monetary policy, quantitative tightening, QT, quantitative easing, QE, rate hikes, preferred-habitat, reserves, reverse repo

The Fed Takes on Corporate Credit Risk: An Analysis of the Efficacy of the SMCCF

Number of pages: 41 Posted: 09 Sep 2020 Last Revised: 25 Jan 2024
Federal Reserve Bank of Boston, Federal Reserve Banks - Federal Reserve Bank of Atlanta, Emory University and New York University (NYU)
Downloads 369
Citation 9

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COVID-19, credit market support facilities, regression discontinuity, diff-in-diff, event study, purchase effects, preferred-habitat

The Fed Takes On Corporate Credit Risk: An Analysis of the Efficacy of the SMCCF

FRB Atlanta Working Paper No. 2020-18
Number of pages: 33 Posted: 20 Apr 2021
Federal Reserve Banks - Federal Reserve Bank of Atlanta, Federal Reserve Bank of Boston, Emory University and New York University (NYU)
Downloads 95

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COVID-19, credit market support facilities, regression discontinuity, diff-in-diff, event study, purchase effects

The Fed Takes on Corporate Credit Risk: An Analysis of the Efficacy of the SMCCF

NBER Working Paper No. w27809
Number of pages: 34 Posted: 14 Sep 2020 Last Revised: 26 Jun 2023
Federal Reserve Banks - Federal Reserve Bank of Atlanta, New York University (NYU), Board of Governors of the Federal Reserve System and Federal Reserve Bank of Boston
Downloads 79
Citation 2

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The Fed Takes On Corporate Credit Risk: an Analysis of the Efficacy of the SMCCF

FRB of Boston Working Paper No. 24-2
Number of pages: 46 Posted: 28 Mar 2024
Federal Reserve Banks - Federal Reserve Bank of Atlanta, Federal Reserve Bank of Boston, New York University (NYU) and Emory University
Downloads 65
Citation 13

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COVID-19, SMCCF, credit spreads, credit market support facilities, event study, purchase effects, preferred habitat

The Fed Takes on Corporate Credit Risk: An Analysis of the Efficacy of the SMCCF

CEPR Discussion Paper No. DP15258
Number of pages: 36 Posted: 12 Sep 2020
New York University (NYU), Federal Reserve Banks - Federal Reserve Bank of Atlanta, Emory University and Federal Reserve Bank of Boston
Downloads 3
Citation 14
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COVID-19, credit market support facilities, diff-in-diff, event study, purchase effects, Regression Discontinuity

5.
Downloads 601
Citation 15

Ambiguity Aversion and Variance Premium

Number of pages: 41 Posted: 17 Mar 2012 Last Revised: 16 May 2012
Bin Wei, Jianjun Miao and Hao Zhou
Federal Reserve Banks - Federal Reserve Bank of Atlanta, School of Economics, Zhejiang University and Tsinghua University - PBC School of Finance
Downloads 414
Citation 6

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Ambiguity aversion, learning, variance premium, regime-shift, belief distortion, return predictability

Ambiguity Aversion and Variance Premium

FRB Atlanta Working Paper No. 2018-14
Number of pages: 41 Posted: 31 Jan 2019 Last Revised: 29 Apr 2020
Jianjun Miao, Bin Wei and Hao Zhou
School of Economics, Zhejiang University, Federal Reserve Banks - Federal Reserve Bank of Atlanta and Tsinghua University - PBC School of Finance
Downloads 187
Citation 9

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ambiguity aversion, learning, variance premium, regime shifts, belief distortion

Exchange Rate Policy and Sovereign Bond Spreads in Developing Countries

FRB International Finance Discussion Paper No. 1049
Number of pages: 42 Posted: 19 Jul 2012 Last Revised: 23 Jul 2012
International Monetary Fund (IMF), Board of Governors of the Federal Reserve System and Federal Reserve Banks - Federal Reserve Bank of Atlanta
Downloads 269

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Sovereign Bond Spread, Exchange Rate Regime, Overvaluation, Debt Crisis

Optimal Long-Term Contracting with Learning

Chicago Booth Research Paper No. 12-36, Fama-Miller Working Paper
Number of pages: 58 Posted: 25 Jan 2012 Last Revised: 09 Oct 2016
Stanford University - Knight Management Center, Tsinghua University - Tsinghua University School of Economics and Management, Federal Reserve Banks - Federal Reserve Bank of Atlanta and Tsinghua University
Downloads 371
Citation 7

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Executive Compensation, Moral Hazard, Bayesian Learning, Hidden Information, Belief Manipulation, Private Savings, Continuous Time, Stock Options

Optimal Long-Term Contracting with Learning

FRB Atlanta Working Paper No. 2016-10
Number of pages: 58 Posted: 10 Nov 2016 Last Revised: 30 Aug 2017
Federal Reserve Banks - Federal Reserve Bank of Atlanta, Stanford University - Knight Management Center, Tsinghua University - Tsinghua University School of Economics and Management and Tsinghua University
Downloads 131
Citation 26

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executive compensation, moral hazard, Bayesian learning, hidden information, belief manipulation, private savings, continuous time, stock options

8.

Financial Intermediation Chains in an OTC Market

Management Science, Forthcoming
Number of pages: 49 Posted: 14 Mar 2015 Last Revised: 27 Apr 2020
Ji Shen, Hongjun Yan and Bin Wei
London School of Economics & Political Science (LSE), DePaul University and Federal Reserve Banks - Federal Reserve Bank of Atlanta
Downloads 464
Citation 13

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Search, Chain, Financial Intermediation, Multiplicity, Stability.

9.
Downloads 463
Citation 18

Endogenous Events and Long Run Returns

Number of pages: 54 Posted: 31 Jan 2005
Bin Wei and S. Viswanathan
Federal Reserve Banks - Federal Reserve Bank of Atlanta and Duke University - Finance
Downloads 463
Citation 18

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Event studies, long run returns, pseudo-market timing, financial econometrics, unit roots

Endogenous Events and Long-Run Returns

Review of Financial Studies, Vol. 21, Issue 2, pp. 855-888, 2008
Posted: 26 Jun 2008
Bin Wei and S. Viswanathan
Federal Reserve Banks - Federal Reserve Bank of Atlanta and Duke University - Finance

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G14, G32

10.
Downloads 461
Citation 6

The Two-Pillar Policy for the RMB

FRB Atlanta Working Paper No. 2019-8
Number of pages: 49 Posted: 26 Apr 2019 Last Revised: 29 Apr 2020
University of Pennsylvania - Finance Department, Federal Reserve Banks - Federal Reserve Bank of Atlanta and Emory University
Downloads 250
Citation 6

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exchange rate policy, two-pillar policy, managed float, Chinese currency, renminbi, RMB, central parity, RMB index

The Two-Pillar Policy for the RMB

Number of pages: 49 Posted: 18 Apr 2019
Federal Reserve Banks - Federal Reserve Bank of Atlanta, Emory University and University of Pennsylvania - Finance Department
Downloads 211

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Exchange Rate Policy, Two-Pillar Policy, Managed Float, Chinese Currency, Renminbi, RMB, Central Parity, RMB Index

11.

A Model of Portfolio Delegation and Strategic Trading

Number of pages: 47 Posted: 17 Mar 2009 Last Revised: 16 Jul 2010
Federal Reserve Banks - Federal Reserve Bank of Atlanta, Duke University - Fuqua School of Business and University of Maryland, College Park
Downloads 413
Citation 10

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Portfolio Delegation, Information Acquisition, Strategic Trading, Price Informativeness

Quantifying Forward Guidance and Yield Curve Control

Number of pages: 36 Posted: 09 Jan 2024 Last Revised: 17 Jan 2024
Bin Wei and Junko Koeda
Federal Reserve Banks - Federal Reserve Bank of Atlanta and Waseda University - School of Political Science and Economics
Downloads 162
Citation 1

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Forward guidance, effective lower bound (ELB), liftoff, term structure, shadow rate, macro finance, unspanned macro factors, yield curve control, Japan

Quantifying Forward Guidance and Yield Curve Control

FRB Atlanta Working Paper No. 2024-8
Number of pages: 41 Posted: 02 Dec 2024
Junko Koeda and Bin Wei
Waseda University - School of Political Science and Economics and Federal Reserve Banks - Federal Reserve Bank of Atlanta
Downloads 160

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forward guidance, effective lower bound (ELB), liftoff, term structure, shadow rate, macro finance, unspanned macro factors, yield curve control, Japan

Liquidity Backstops and Dynamic Debt Runs

Number of pages: 70 Posted: 17 Jun 2015
Bin Wei and Vivian Z. Yue
Federal Reserve Banks - Federal Reserve Bank of Atlanta and Emory University
Downloads 203
Citation 3

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Liquidity Backstop, Debt Run

Liquidity Backstops and Dynamic Debt Runs

FRB Atlanta Working Paper No. 2015-13
Number of pages: 60 Posted: 10 Dec 2015 Last Revised: 30 Aug 2017
Bin Wei and Vivian Z. Yue
Federal Reserve Banks - Federal Reserve Bank of Atlanta and Emory University
Downloads 111

Abstract:

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liquidity backstops, debt run

Sovereign Risk and Financial Risk

Number of pages: 43 Posted: 01 Feb 2022
Federal Reserve Banks - Federal Reserve Bank of Atlanta, Federal Reserve Bank of Boston, Emory University and New York University (NYU)
Downloads 121

Abstract:

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Sovereign bonds, CDS, Global financial risk, Excess bond premium, Global financial cycle

Sovereign Risk and Financial Risk

FRB Atlanta Working Paper No. 2021-27
Number of pages: 43 Posted: 13 Dec 2021
Federal Reserve Banks - Federal Reserve Bank of Atlanta, Federal Reserve Bank of Boston, New York University (NYU) and Emory University
Downloads 82

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sovereign bonds, CDS, global financial risk, excess bond premium, global financial cycle

Sovereign Risk and Financial Risk

NBER Working Paper No. w29501
Number of pages: 44 Posted: 23 Nov 2021 Last Revised: 16 Apr 2023
New York University (NYU), Federal Reserve Banks - Federal Reserve Bank of Atlanta, Board of Governors of the Federal Reserve System and Federal Reserve Bank of Boston
Downloads 55

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Sovereign Risk and Financial Risk

CEPR Discussion Paper No. DP16750
Number of pages: 46 Posted: 04 Feb 2022
New York University (NYU), Federal Reserve Banks - Federal Reserve Bank of Atlanta, Board of Governors of the Federal Reserve System and Federal Reserve Bank of Boston
Downloads 3

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CDS, Excess Bond Premium, Global financial cycle, Global financial risk, Sovereign bonds

15.

Forecasts of Inflation and Interest Rates in No-Arbitrage Affine Models

FRB Atlanta Working Paper No. 2016-3
Number of pages: 44 Posted: 10 Feb 2016 Last Revised: 30 Aug 2017
Nikolay Gospodinov and Bin Wei
Federal Reserve Banks - Federal Reserve Bank of Atlanta and Federal Reserve Banks - Federal Reserve Bank of Atlanta
Downloads 256

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bond prices, TIPS, inflation derivatives, oil prices, no-arbitrage, affine models, out-of-sample forecasting

Screen More, Sell Later: Screening and Dynamic Signaling in the Mortgage Market

Number of pages: 79 Posted: 28 Dec 2023 Last Revised: 21 Dec 2025
Manuel Adelino, Feng Zhao and Bin Wei
Duke University, affiliation not provided to SSRN and Federal Reserve Banks - Federal Reserve Bank of Atlanta
Downloads 188
Citation 1

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Processing time, screening, signaling, time to sale, securitization, mortgage loans, lending standards

Screen More, Sell Later: Screening and Dynamic Signaling in the Mortgage Market

FRB Atlanta Working Paper No. 2025-3
Number of pages: 68 Posted: 17 Apr 2025
Bin Wei, Feng Zhao and Manuel Adelino
Federal Reserve Banks - Federal Reserve Bank of Atlanta, affiliation not provided to SSRN and Duke University
Downloads 65

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processing time, screening, signaling, time to sale, securitization, mortgage loans, lending standards

Screen More, Sell Later: Screening and Dynamic Signaling in the Mortgage Market

NBER Working Paper No. w34815
Number of pages: 91 Posted: 12 Feb 2026
Manuel Adelino, Bin Wei and Feng Zhao
Duke University, Federal Reserve Banks - Federal Reserve Bank of Atlanta and affiliation not provided to SSRN
Downloads 2
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Racial Disparities in Mortgage Lending: New Evidence based on Processing Time

Number of pages: 50 Posted: 06 Jan 2022 Last Revised: 23 Feb 2023
Feng Zhao and Bin Wei
affiliation not provided to SSRN and Federal Reserve Banks - Federal Reserve Bank of Atlanta
Downloads 121

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Processing Time, Lending Standards, Racial Disparities, Mortgage Loans

Racial Disparities in Mortgage Lending: New Evidence Based on Processing Time

FRB Atlanta Working Paper No. 2022-1
Number of pages: 50 Posted: 20 Sep 2022
Bin Wei and Feng Zhao
Federal Reserve Banks - Federal Reserve Bank of Atlanta and affiliation not provided to SSRN
Downloads 119

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processing time, lending standards, racial disparities, mortgage loans

18.

Financial Intermediation Chains in an OTC Market

FRB Atlanta Working Paper No. 2018-15
Number of pages: 66 Posted: 04 Feb 2019 Last Revised: 29 Apr 2020
Bin Wei, Hongjun Yan and Ji Shen
Federal Reserve Banks - Federal Reserve Bank of Atlanta, DePaul University and Peking University
Downloads 239

Abstract:

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search, chain, financial intermediation, multiplicity, stability

19.

Managerial Ability, Open-End Fund Flows, and Closed-End Fund Discounts

Number of pages: 47 Posted: 13 Nov 2007
Bin Wei
Federal Reserve Banks - Federal Reserve Bank of Atlanta
Downloads 232

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Open-End Fund Flows, Closed-End Fund Discounts, Managerial Ability, Asymmetric Information

Forward Guidance and its Effectiveness: A Macro Finance Shadow-Rate Framework

FRB Atlanta Working Paper No. 2023-16
Number of pages: 61 Posted: 18 Oct 2023
Junko Koeda and Bin Wei
Waseda University - School of Political Science and Economics and Federal Reserve Banks - Federal Reserve Bank of Atlanta
Downloads 156
Citation 2

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forward guidance, effective lower bound (ELB), liftoff, term structure, shadow rate, macro finance, unspanned macro factors

Forward Guidance at the ELB: A Macro-Finance Shadow-Rate Framework

Number of pages: 48 Posted: 02 Mar 2025 Last Revised: 22 Nov 2025
Junko Koeda and Bin Wei
Waseda University - School of Political Science and Economics and Federal Reserve Banks - Federal Reserve Bank of Atlanta
Downloads 38

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forward guidance, effective lower bound (ELB), liftoff, term structure, shadow rate, macro finance, unspanned macro factors

21.

Ambiguity, Long-Run Risks, and Asset Prices

Number of pages: 61 Posted: 02 Jan 2019
Bin Wei
Federal Reserve Banks - Federal Reserve Bank of Atlanta
Downloads 147
Citation 1

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smooth ambiguity aversion, long-run risks, equity premium puzzle, risk-free rate puzzle, variance premium puzzle, return predictability

22.

The Term Structure of the Excess Bond Premium: Measures and Implications

FRB Atlanta Policy Hub Paper No. 2021-12, https://doi.org/10.29338/ph2021-12
Number of pages: 17 Posted: 17 Mar 2025
National Bureau of Economic Research (NBER), Federal Reserve Banks - Federal Reserve Bank of Atlanta, affiliation not provided to SSRN and Federal Reserve Bank of Boston
Downloads 141

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term structure, TRACE, COVID-19, excess bond premium

23.

Quantifying “Quantitative Tightening” (QT): How Many Rate Hikes Is QT Equivalent To?

FRB Atlanta Working Paper No. 2022-8
Number of pages: 30 Posted: 20 Sep 2022
Bin Wei
Federal Reserve Banks - Federal Reserve Bank of Atlanta
Downloads 124

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monetary policy, quantitative tightening, QT, quantitative easing, QE, rate hikes, preferred-habitat, reserves, reverse repo

24.

How Credible Is Hong Kong’s Currency Peg? Insights from Financial Market Prices

FRB Atlanta Policy Hub Paper No. 2025-05, https://doi.org/10.29338/ph2024-05
Number of pages: 10 Posted: 28 Jan 2026
University of Pennsylvania - Finance Department, Federal Reserve Banks - Federal Reserve Bank of Atlanta and affiliation not provided to SSRN
Downloads 120

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Hong Kong dollar, currency board, peg, exchange rate model, option prices

25.

The Federal Reserve's Liquidity Backstops to the Municipal Bond Market during the COVID-19 Pandemic

FRB Atlanta Policy Hub Paper No. 2020-05, https://doi.org/10.29338/ph2020-05
Number of pages: 10 Posted: 14 Mar 2025
Bin Wei and Vivian Z. Yue
Federal Reserve Banks - Federal Reserve Bank of Atlanta and affiliation not provided to SSRN
Downloads 65

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COVID-19 pandemic, liquidity backstops, municipal bond

26.

Analyzing the Efficacy of the Fed’s Secondary Market Corporate Credit Facility

FRB Atlanta Policy Hub Paper No. 2024-05, https://doi.org/10.29338/ph2024-05
Number of pages: 10 Posted: 26 Mar 2025
National Bureau of Economic Research (NBER), Federal Reserve Banks - Federal Reserve Bank of Atlanta, affiliation not provided to SSRN and Federal Reserve Bank of Boston
Downloads 59

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COVID-19; SMCCF; credit market support facilities; event study; purchase effects; preferred habitat

27.

How Many Rate Hikes Does Quantitative Tightening Equal?

FRB Atlanta Policy Hub Paper No. 2022-11, https://doi.org/10.29338/ph2022-11
Number of pages: 11 Posted: 24 Mar 2025
Bin Wei
Federal Reserve Banks - Federal Reserve Bank of Atlanta
Downloads 45

Abstract:

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monetary policy; quantitative tightening; QT; quantitative easing; QE; rate hikes; preferred-habitat