Zefeng Chen

Peking University - Guanghua School of Management, Department of Finance

Beijing, Beijing 100871

China

  • Peking University - Guanghua School of Management, Department of Finance

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SCHOLARLY PAPERS

4

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Scholarly Papers (4)

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1.

Exorbitant Privilege Gained and Lost: Fiscal Implications

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Exorbitant Privilege Gained and Lost: Fiscal Implications

Number of pages: 78 Posted: 05 May 2022 Last Revised: 10 Jun 2023
Zefeng Chen, Zhengyang Jiang, Hanno N. Lustig, Stijn Van Nieuwerburgh and Mindy Z. Xiaolan
Peking University - Guanghua School of Management, Department of Finance, Kellogg School of Management - Department of Finance, Stanford Graduate School of Business, Columbia University Graduate School of Business and University of Texas, Austin - Department of Finance
Downloads 535 (89,507)

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bond pricing, fiscal policy, term structure, convenience yield, exorbitant privilege

Exorbitant Privilege Gained and Lost: Fiscal Implications

NBER Working Paper No. w30059
Number of pages: 56 Posted: 23 May 2022 Last Revised: 14 Apr 2023
Zefeng Chen, Zhengyang Jiang, hlustig@stanford.edu Lustig, Stijn Van Nieuwerburgh and Mindy Z. Xiaolan
Peking University - Guanghua School of Management, Department of Finance, Kellogg School of Management - Department of Finance, Stanford University, Columbia University Graduate School of Business and University of Texas, Austin - Department of Finance
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Exorbitant Privilege Gained and Lost: Fiscal Implications

CEPR Discussion Paper No. DP17340
Number of pages: 58 Posted: 23 Jun 2022
Zefeng Chen, Zhengyang Jiang, hlustig@stanford.edu Lustig, Stijn Van Nieuwerburgh and Mindy Z. Xiaolan
Peking University - Guanghua School of Management, Department of Finance, Kellogg School of Management - Department of Finance, Stanford University, Columbia University Graduate School of Business and University of Texas, Austin - Department of Finance
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Fiscal policy

2.

The Liquidity Premium of Digital Payment Vehicle

Downloads 298 (175,862)

The Liquidity Premium of Digital Payment Vehicle

Number of pages: 54 Posted: 16 Mar 2022 Last Revised: 24 May 2023
Zefeng Chen and Zhengyang Jiang
Peking University - Guanghua School of Management, Department of Finance and Kellogg School of Management - Department of Finance
Downloads 268 (195,082)

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Digital Payment, Liquidity Premium, Money Market Fund

The Liquidity Premium of Digital Payment Vehicle

CESifo Working Paper No. 9933
Number of pages: 48 Posted: 19 Sep 2022
Zefeng Chen and Zhengyang Jiang
Peking University - Guanghua School of Management, Department of Finance and Kellogg School of Management - Department of Finance
Downloads 30 (817,219)

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digital payment, liquidity premium, money market fund

3.

Global Safe Assets and the US Exorbitant Privilege

Number of pages: 54 Posted: 16 Nov 2021
Zefeng Chen
Peking University - Guanghua School of Management, Department of Finance
Downloads 186 (276,824)
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Safe asset, Exchange Rate, Exorbitant privilege

4.

A Theory of Carbon Currency

Number of pages: 27 Posted: 08 Jun 2022
Qiao Liu, Zefeng Chen and Sylvia Xiaolin Xiao
Peking University - Guanghua School of Management, Peking University - Guanghua School of Management, Department of Finance and Guanghua School of Management, Peking University
Downloads 61 (599,599)

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two externalities, net zero carbon emissions, carbon currency, global reserve currency, Mundellian Trilemma