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Jing Zhang

Not to be confused with: Jing Zhang, Jing Zhang

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Enrique G. Mendoza & Linda L. Tesar & Jing Zhang, 2014. "Saving Europe?: The Unpleasant Arithmetic of Fiscal Austerity in Integrated Economies," Working Paper Series WP-2014-13, Federal Reserve Bank of Chicago.

    Mentioned in:

    1. Saving Europe?: The Unpleasant Arithmetic of Fiscal Austerity in Integrated Economies
      by Christian Zimmermann in NEP-DGE blog on 2015-01-17 01:59:01
  2. Andrei A. Levchenko & Jing Zhang, 2011. "The Evolution of Comparative Advantage: Measurement and Welfare Implications," NBER Working Papers 16806, National Bureau of Economic Research, Inc.

    Mentioned in:

    1. Whither Ricardian comparative advantage?
      by jdingel in Trade Diversion on 2011-06-08 22:40:23

Wikipedia or ReplicationWiki mentions

(Only mentions on Wikipedia that link back to a page on a RePEc service)
  1. Julian di Giovanni & Andrei A. Levchenko & Jing Zhang, 2014. "The Global Welfare Impact of China: Trade Integration and Technological Change," American Economic Journal: Macroeconomics, American Economic Association, vol. 6(3), pages 153-183, July.

    Mentioned in:

    1. The Global Welfare Impact of China: Trade Integration and Technological Change (AEJ:MA 2014) in ReplicationWiki ()

Working papers

  1. Michael Sposi & Kei-Mu Yi & Jing Zhang, 2024. "Deindustrialization and Industry Polarization," Globalization Institute Working Papers 428, Federal Reserve Bank of Dallas.

    Cited by:

    1. Hoyos, Mateo & Coronado, José Alejandro & Martins, Guilherme Klein, 2024. "Local and Spillover Effects of Trade on Structural Transformation: Evidence from Brazil," SocArXiv rfqvt, Center for Open Science.
    2. Aristizabal-Ramirez, Maria & Leahy, John & Tesar, Linda L., 2023. "A north-south model of structural change and growth," Journal of Monetary Economics, Elsevier, vol. 133(C), pages 77-102.
    3. Hagen Kruse & Emmanuel Mensah & Kunal Sen & Gaaitzen Vries, 2023. "A Manufacturing (Re)Naissance? Industrialization in the Developing World," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 71(2), pages 439-473, June.
    4. Tasso Adamopoulos & Fernando Leibovici, 2024. "Trade Risk and Food Security," Working Papers 2024-004, Federal Reserve Bank of St. Louis, revised 05 Nov 2025.
    5. Paul Gaggl & Aspen Gorry & Christian vom Lehn, 2023. "Structural Change in Production Networks and Economic Growth," CESifo Working Paper Series 10460, CESifo.
    6. Clement E. Bohr & Mart'i Mestieri & Emre Enes Yavuz, 2023. "Aggregation and Closed-Form Results for Nonhomothetic CES Preferences," Papers 2311.06740, arXiv.org.
    7. Bonadio, Barthélémy & Huo, Zhen & Levchenko, Andrei A. & Pandalai-Nayar, Nitya, 2025. "Globalization, structural change and international comovement," Journal of Monetary Economics, Elsevier, vol. 151(C).
    8. Duc Nguyen, 2022. "Heterogeneous Paths of Structural Transformation," Working Papers tecipa-742, University of Toronto, Department of Economics.

  2. Chris de Mena & Suvy Qin & Jing Zhang, 2023. "The Labor Market Impact of Covid-19 on Asian Americans," Working Paper Series WP 2023-10, Federal Reserve Bank of Chicago.

    Cited by:

    1. Charles, Kerwin Kofi & Guryan, Jonathan & Park, Kyung H., 2025. "Consumer sentiment towards Asians in the early days of the Covid-19 pandemic," Journal of Public Economics, Elsevier, vol. 247(C).

  3. Ana Maria Santacreu & Michael Sposi & Jing Zhang, 2023. "What Determines State Heterogeneity in Response to U.S. Tariff Changes," Working Paper Series WP 2023-09, Federal Reserve Bank of Chicago.

    Cited by:

    1. Daniel R. Carroll & Sewon Hur, 2022. "On the Distributional Effects of International Tariffs," Globalization Institute Working Papers 413, Federal Reserve Bank of Dallas, revised 29 Mar 2023.
    2. Céline Poilly & Fabien Tripier, 2025. "Regional trade policy uncertainty," Post-Print hal-05067044, HAL.
    3. Poilly, Céline & Tripier, Fabien, 2025. "Reprint of: Regional trade policy uncertainty," Journal of International Economics, Elsevier, vol. 156(C).

  4. Michael Sposi & Kei-Mu Yi & Jing Zhang, 2021. "Premature Deindustrialization and Industry Polarization," NBER Working Papers 29483, National Bureau of Economic Research, Inc.

    Cited by:

    1. Aristizabal-Ramirez, Maria & Leahy, John & Tesar, Linda L., 2023. "A north-south model of structural change and growth," Journal of Monetary Economics, Elsevier, vol. 133(C), pages 77-102.
    2. Hagen Kruse & Emmanuel Mensah & Kunal Sen & Gaaitzen Vries, 2023. "A Manufacturing (Re)Naissance? Industrialization in the Developing World," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 71(2), pages 439-473, June.
    3. Ippei Fujiwara & Kiminori Matsuyama, 2022. "A Technology-Gap Model of Premature Deindustrialization," CIRJE F-Series CIRJE-F-1190, CIRJE, Faculty of Economics, University of Tokyo.
    4. Tasso Adamopoulos & Fernando Leibovici, 2024. "Trade Risk and Food Security," Working Papers 2024-004, Federal Reserve Bank of St. Louis, revised 05 Nov 2025.
    5. Paul Gaggl & Aspen Gorry & Christian vom Lehn, 2023. "Structural Change in Production Networks and Economic Growth," CESifo Working Paper Series 10460, CESifo.
    6. Bonadio, Barthélémy & Huo, Zhen & Levchenko, Andrei A. & Pandalai-Nayar, Nitya, 2025. "Globalization, structural change and international comovement," Journal of Monetary Economics, Elsevier, vol. 151(C).
    7. Duc Nguyen, 2022. "Heterogeneous Paths of Structural Transformation," Working Papers tecipa-742, University of Toronto, Department of Economics.

  5. Tesar, Linda & Mendoza, Enrique & Rojas, Eugenio, 2021. "A Macroeconomic Model of Healthcare Saturation, Inequality & the Output-Pandemia Tradeoff," CEPR Discussion Papers 15846, C.E.P.R. Discussion Papers.

    Cited by:

    1. Eichenbaum, Martin S. & Rebelo, Sergio & Trabandt, Mathias, 2022. "The macroeconomics of testing and quarantining," Journal of Economic Dynamics and Control, Elsevier, vol. 138(C).
    2. Enrique G. Mendoza & Eugenio Rojas & Linda L. Tesar & Jing Zhang, 2023. "A Macroeconomic Model of Healthcare Saturation, Inequality and the Output–Pandemia Trade-off," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 71(1), pages 243-299, March.
    3. Emanuele Colombo Azimonti & Luca Portoghese & Patrizio Tirelli, 2022. "Covid-19 supply-side fiscal policies to escape the health-vs-economy dilemma," DEM Working Papers Series 208, University of Pavia, Department of Economics and Management.
    4. Luca Portoghese & Patrizio Tirelli, 2024. "Getting ready for the next pandemic: supply- side policies to escape the health-vs-economy dilemma," DEM Working Papers Series 219, University of Pavia, Department of Economics and Management.

  6. Ana Maria Santacreu & Michael Sposi & Jing Zhang, 2021. "A Quantitative Analysis of Tariffs Across U.S. States," Working Paper Series WP-2021-08, Federal Reserve Bank of Chicago.

    Cited by:

    1. Makenzie Peake & Ana Maria Santacreu, 2020. "The Economic Effects of the 2018 U.S. Trade Policy: A State-Level Analysis," Review, Federal Reserve Bank of St. Louis, vol. 102(4), pages 385-412, October.
    2. Daniel R. Carroll & Sewon Hur, 2022. "On the Distributional Effects of International Tariffs," Globalization Institute Working Papers 413, Federal Reserve Bank of Dallas, revised 29 Mar 2023.

  7. Enrique G. Mendoza & Eugenio Rojas & Linda L. Tesar & Jing Zhang, 2021. "A Macroeconomic Model of Healthcare Saturation, Inequality and the Output-Pandemia Tradeoff," Working Paper Series WP-2021-02, Federal Reserve Bank of Chicago.

    Cited by:

    1. Eichenbaum, Martin S. & Rebelo, Sergio & Trabandt, Mathias, 2022. "The macroeconomics of testing and quarantining," Journal of Economic Dynamics and Control, Elsevier, vol. 138(C).
    2. Chia-Hui Lu, 2024. "The impact of lockdowns on macroeconomic performance: An application of epidemiology dynamics," Economics Bulletin, AccessEcon, vol. 44(2), pages 707-719.
    3. Enrique G. Mendoza & Eugenio Rojas & Linda L. Tesar & Jing Zhang, 2023. "A Macroeconomic Model of Healthcare Saturation, Inequality and the Output–Pandemia Trade-off," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 71(1), pages 243-299, March.
    4. Emanuele Colombo Azimonti & Luca Portoghese & Patrizio Tirelli, 2022. "Covid-19 supply-side fiscal policies to escape the health-vs-economy dilemma," DEM Working Papers Series 208, University of Pavia, Department of Economics and Management.
    5. Luca Portoghese & Patrizio Tirelli, 2024. "Getting ready for the next pandemic: supply- side policies to escape the health-vs-economy dilemma," DEM Working Papers Series 219, University of Pavia, Department of Economics and Management.
    6. Arbex, Marcelo & Barros, Luiz A. & Corrêa, Márcio V., 2024. "Pandemic, inequality and public health: A quantitative analysis," The Quarterly Review of Economics and Finance, Elsevier, vol. 97(C).

  8. Yun Jung Kim & Jing Zhang, 2020. "The Relationship between Debt and Output," Working Paper Series WP-2020-30, Federal Reserve Bank of Chicago.

    Cited by:

    1. Michal Skara & Ladislava Issever Grochova, 2025. "Do inequality and fiscal redistribution matter when credit bites back?," MENDELU Working Papers in Business and Economics 2025-108, Mendel University in Brno, Faculty of Business and Economics.
    2. Mohamed Bouabidi, 2023. "The surge in Tunisia foreign debt: causes and possible ways out," SN Business & Economics, Springer, vol. 3(3), pages 1-23, March.

  9. Yun Jung Kim & Jing Zhang, 2020. "International Capital Flows: Private Versus Public Flows in Developing and Developed Countries," Working Paper Series WP-2020-27, Federal Reserve Bank of Chicago.

    Cited by:

    1. Javier Bianchi & Guido Lorenzoni, 2021. "The Prudential Use of Capital Controls and Foreign Currency Reserves," Working Papers 787, Federal Reserve Bank of Minneapolis.
    2. Islamaj,Ergys & Kose,Ayhan, 2021. "What Types of Capital Flows Help Improve International Risk Sharing ?," Policy Research Working Paper Series 9846, The World Bank.
    3. Yun Jung Kim & Jing Zhang, 2020. "The Relationship between Debt and Output," Working Paper Series WP-2020-30, Federal Reserve Bank of Chicago.

  10. Michael Sposi & Kei-Mu Yi & Jing Zhang, 2020. "Trade Integration, Global Value Chains and Capital Accumulation," Globalization Institute Working Papers 404, Federal Reserve Bank of Dallas.

    Cited by:

    1. Ariell Reshef & Gianluca Santoni, 2022. "Are Your Labor Shares Set in Beijing? The View through the Lens of Global Value Chains," CESifo Working Paper Series 9835, CESifo.
    2. Lionel Fontagné & Ariell Reshef & Gianluca Santoni & Giulio Vannelli, 2024. "Automation, global value chains and functional specialization," Review of International Economics, Wiley Blackwell, vol. 32(2), pages 662-691, May.
    3. Bernardina Algieri & Antonio Aquino & Marianna Succurro, 2022. "Trade Specialisation and Changing Patterns of Comparative Advantages in Manufactured Goods," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 8(3), pages 607-667, November.
    4. Zhang, Zhenhua & Wu, Huangbin & Zhang, Yunpeng & Hu, Shilei & Pan, Yuxi & Feng, Yanchao, 2024. "Does digital global value chain participation reduce energy resilience? Evidence from 49 countries worldwide," Technological Forecasting and Social Change, Elsevier, vol. 208(C).
    5. Johnson, Robert C. & Moxnes, Andreas, 2023. "GVCs and trade elasticities with multistage production," Journal of International Economics, Elsevier, vol. 145(C).
    6. González-Rozada, Martín & Ruffo, Hernán, 2024. "Do trade agreements contribute to the decline in labor share? Evidence from Latin American countries," World Development, Elsevier, vol. 177(C).
    7. Can Li & Qi He & Han Ji, 2023. "Can Global Value Chain Upgrading Promote Regional Economic Growth? Empirical Evidence and Mechanism Analysis Based on City-Level Panel Data in China," Sustainability, MDPI, vol. 15(15), pages 1-22, July.
    8. Delalibera, Bruno R. & Pereira, Luciene & Rios, Heron & Serrano-Quintero, Rafael, 2024. "Capital misallocation and economic development in a dynamic open economy," Journal of Economic Dynamics and Control, Elsevier, vol. 168(C).
    9. Can Li & Qi He & Han Ji & Shengguo Yu & Jiao Wang, 2023. "Reexamining the Impact of Global Value Chain Participation on Regional Economic Growth: New Evidence Based on a Nonlinear Model and Spatial Spillover Effects with Panel Data from Chinese Cities," Sustainability, MDPI, vol. 15(18), pages 1-31, September.
    10. Chen, Renjing & Jin, Chenxin & Jin, Wei & Sheng, Bin & Wang, Guanxiang, 2025. "Geopolitics along the value chains," China Economic Review, Elsevier, vol. 90(C).

  11. Logan T. Lewis & Ryan Monarch & Michael Sposi & Jing Zhang, 2018. "Structural Change and Global Trade," Globalization Institute Working Papers 333, Federal Reserve Bank of Dallas.

    Cited by:

    1. Ricardo Reyes-Heroles, 2018. "Globalization and Structural Change in the United States: A Quantitative Assessment," 2018 Meeting Papers 1027, Society for Economic Dynamics.
    2. Khan, Muhammad Aamir, 2020. "Cross sectoral linkages to explain structural transformation in Nepal," Structural Change and Economic Dynamics, Elsevier, vol. 52(C), pages 221-235.
    3. Chen, Natalie & Novy, Dennis & , Perroni, Carlo & Chern Wong, Horng Chern, 2023. "Urban-Biased Structural Change," The Warwick Economics Research Paper Series (TWERPS) 1484, University of Warwick, Department of Economics.
    4. William F. Lincoln & Andrew H. McCallum & Michael Siemer, 2019. "The Great Recession and a Missing Generation of Exporters," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 67(4), pages 703-745, December.
    5. Michael Sposi & Jing Zhang & Kei-Mu Yi, 2018. "Accounting for Structural Change Over Time: A Case Study of Three Middle-Income Countries," 2018 Meeting Papers 1141, Society for Economic Dynamics.
    6. Asjad Naqvi, 2025. "Global Demand and Supply Elasticities and the Impact of Tariff Shocks," WIFO Working Papers 702, WIFO.
    7. Michael Sposi & Jing Zhang & Kei-Mu Yi, 2019. "Structural Change and Deindustrialization," 2019 Meeting Papers 1328, Society for Economic Dynamics.
    8. Nils M. Gornemann & Pablo Guerrón-Quintana & Felipe Saffie, 2020. "Exchange Rates and Endogenous Productivity," International Finance Discussion Papers 1301, Board of Governors of the Federal Reserve System (U.S.).
    9. Diego A. Comin & Danial Lashkari & Martí Mestieri, 2015. "Structural Change with Long-run Income and Price Effects," NBER Working Papers 21595, National Bureau of Economic Research, Inc.
    10. Benjamin N. Dennis & Talan B. İşcan, 2020. "Structural change and global trade flows: Does an emerging giant matter?," Review of International Economics, Wiley Blackwell, vol. 28(5), pages 1191-1231, November.
    11. Andrea Papetti, 2021. "Population aging, relative prices and capital flows across the globe," Temi di discussione (Economic working papers) 1333, Bank of Italy, Economic Research and International Relations Area.
    12. Tasso Adamopoulos & Fernando Leibovici, 2024. "Trade Risk and Food Security," Working Papers 2024-004, Federal Reserve Bank of St. Louis, revised 05 Nov 2025.
    13. Saad, Ayhab F., 2021. "Institutional change in the global economy: How trade reform can be detrimental to welfare," Economic Modelling, Elsevier, vol. 95(C), pages 97-110.
    14. Bonadio, Barthélémy & Huo, Zhen & Levchenko, Andrei A. & Pandalai-Nayar, Nitya, 2025. "Globalization, structural change and international comovement," Journal of Monetary Economics, Elsevier, vol. 151(C).
    15. Catherine Boulatoff & Talan B. İşcan & Yulia Kotlyarova, 2022. "Does Distance Matter for Trade in Services? The Case of Interprovincial Trade in Canada," Open Economies Review, Springer, vol. 33(1), pages 157-185, February.
    16. Phong B. Dao, 2021. "A CUSUM-Based Approach for Condition Monitoring and Fault Diagnosis of Wind Turbines," Energies, MDPI, vol. 14(11), pages 1-19, June.
    17. Dainauskas, Justas, 2024. "The network origins of trade comovement," Journal of International Economics, Elsevier, vol. 152(C).
    18. Mr. Serhan Cevik & Jan Gottschalk & Mr. Eric Hutton & Laura Jaramillo & Pooja Karnane & Moussé Sow, 2019. "Structural Transformation and Tax Efficiency," IMF Working Papers 2019/030, International Monetary Fund.
    19. Stanojević Nataša, 2020. "Deglobalization of the World Economy and its Effects on the Western Balkan Countries," Economic Themes, Sciendo, vol. 58(3), pages 343-362, September.
    20. Vanessa ALVIAREZ & Cheng CHEN & Nitya PANDALAI-NAYAR & Liliana VARELA & Kei-Mu YI & Hongyong ZHANG, 2021. "Multinationals and Structural Transformation," Discussion papers 21100, Research Institute of Economy, Trade and Industry (RIETI).

  12. Miles S. Kimball & Matthew D. Shapiro & Tyler Shumway & Jing Zhang, 2018. "Portfolio Rebalancing in General Equilibrium," NBER Working Papers 24722, National Bureau of Economic Research, Inc.

    Cited by:

    1. Ravi Kashyap, 2024. "To Trade Or Not To Trade: Cascading Waterfall Round Robin Rebalancing Mechanism for Cryptocurrencies," Papers 2407.12150, arXiv.org.
    2. Lu Gan & Dirong Xu & Xiuyun Chen & Pengyan Jiang & Benjamin Lev & Zongmin Li, 2023. "Sustainable portfolio re-equilibrium on wind-solar-hydro system: An integrated optimization with combined meta-heuristic," Energy & Environment, , vol. 34(5), pages 1383-1408, August.

  13. Kei-Mu Yi & Jing Zhang, 2016. "Real Interest Rates over the Long Run," Economic Policy Paper 16-10, Federal Reserve Bank of Minneapolis.

    Cited by:

    1. -, 2018. "Fiscal Panorama of Latin America and the Caribbean 2018: public policy challenges in the framework of the 2030 Agenda," Libros y Documentos Institucionales, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 43406 edited by Eclac.
    2. Jean-Marc Natal & Nicolas Stoffels, 2019. "Globalization, Market Power, and the Natural Interest Rate," IMF Working Papers 2019/095, International Monetary Fund.
    3. Joseph Steinberg, 2019. "On the Source of U.S. Trade Deficits: Global Saving Glut or Domestic Saving Drought?," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 31, pages 200-223, January.
    4. Karen Dynan, 2018. "Adapting tax systems for population aging," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 53(2), pages 66-71, April.

  14. Pablo D'Erasmo & Enrique G. Mendoza & Jing Zhang, 2015. "What is a Sustainable Public Debt?," NBER Working Papers 21574, National Bureau of Economic Research, Inc.

    Cited by:

    1. Roberto Tamborini & Matteo Tomaselli, 2019. "The determinants of austerity in the European Union 2010-16," DEM Working Papers 2019/6, Department of Economics and Management.
    2. Wickens, Michael R. & Heer, Burkhard, 2017. "Population Aging, Social Security and Fiscal Limits," CEPR Discussion Papers 11978, C.E.P.R. Discussion Papers.
    3. Park, Kwangyong, 2024. "An aging population and sustainable government debt: The case of Korea," Journal of Asian Economics, Elsevier, vol. 95(C).
    4. Ugo Panizza & Andrew Powell, 2023. "Reducing Public Debt: What Works Best?," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 9, pages 197-222, Inter-American Development Bank.
    5. Eduardo Cavallo & Eduardo Fernández Arias, 2023. "Strong External Balance Sheets for Resilient Economies," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 2, pages 5-36, Inter-American Development Bank.
    6. João Ayres & Anna Gelpern & Andrew Powell, 2023. "Sovereign Debt Restructuring: In Need of a New Approach," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 10, pages 223-254, Inter-American Development Bank.
    7. Claudio Borio & Marco Jacopo Lombardi & Fabrizio Zampolli, 2016. "Fiscal sustainability and the financial cycle," BIS Working Papers 552, Bank for International Settlements.
    8. Philippopoulos, Apostolis & Varthalitis, Petros & Vassilatos, Vanghelis, 2017. "Fiscal consolidation and its cross-country effects," Journal of Economic Dynamics and Control, Elsevier, vol. 83(C), pages 55-106.
    9. Angelopoulos, Angelos & Economides, George & Liontos, George & Philippopoulos, Apostolis & Sakkas, Stelios, 2022. "Public redistributive policies in general equilibrium: an application to Greece," LSE Research Online Documents on Economics 117574, London School of Economics and Political Science, LSE Library.
    10. M. Ayhan Kose & Franziska Ohnsorge & Naotaka Sugawara, 2020. "Benefits and Costs of Debt: The Dose Makes the Poison," Koç University-TUSIAD Economic Research Forum Working Papers 2006, Koc University-TUSIAD Economic Research Forum.
    11. Leandro Andrián & Oscar Mauricio Valencia, 2023. "Past the Tipping Point? Assessing Debt Overhang in Latin America and the Caribbean," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 8, pages 183-196, Inter-American Development Bank.
    12. Mr. Philip Barrett, 2018. "Interest-Growth Differentials and Debt Limits in Advanced Economies," IMF Working Papers 2018/082, International Monetary Fund.
    13. Roy Havemann & Hylton Hollander, 2022. "Fiscal policy in times of fiscal stress: Or what to do when r > g," WIDER Working Paper Series wp-2022-52, World Institute for Development Economic Research (UNU-WIDER).
    14. María Cecilia Acevedo & Leandro Andrián & Victoria Nuguer & Oscar Mauricio Valencia, 2023. "Understanding the Rise in Debt," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 4, pages 67-94, Inter-American Development Bank.
    15. Alba, Carlos & McKnight, Stephen, 2022. "Laffer curves in emerging market economies: The role of informality," Journal of Macroeconomics, Elsevier, vol. 72(C).
    16. Lars P. Feld & Martin Beznoska & Oliver Holtemöller & Hans-Peter Burghof & Ulrike Neyer & Clemens Fuest & Friedrich Heinemann & Thomas König, 2020. "Rekordschulden gegen Corona-Folgen – was kann sich der Staat leisten?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 73(08), pages 03-32, August.
    17. Vicente Esteve & María A. Prats, 2021. "Financial bubbles and sustainability of public debt: The case of Spain," Working Papers 2111, Department of Applied Economics II, Universidad de Valencia.
    18. Andrew Powell & Oscar Mauricio Valencia, 2023. "The Bottom Line on Debt," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 13, pages 309-318, Inter-American Development Bank.
    19. Lars P. Feld & Ekkehard A. Köhler & Julia Wolfinger, 2018. "Modeling Fiscal Sustainability in Dynamic Macro-Panels with Heterogeneous Effects: Evidence from German Federal States," CESifo Working Paper Series 6976, CESifo.
    20. Enrique Mendoza, 2015. "EconomicDynamics Interviews Enrique Mendoza on Sovereign Debt," EconomicDynamics Newsletter, Review of Economic Dynamics, vol. 16(1), April.
    21. Nikolay Hristov & Oliver Hülsewig & Benedikt Kolb, 2024. "Macroprudential Capital Regulation and Fiscal Balances in the Euro Area," CESifo Working Paper Series 10968, CESifo.
    22. Alloza, Mario & Andrés, Javier & Pérez, Javier J. & Rojas, Juan A., 2020. "Implicit public debt thresholds: An operational proposal," Journal of Policy Modeling, Elsevier, vol. 42(6), pages 1408-1424.
    23. Ibrahima Diarra & Michel Guillard & Hubert Kempf, 2022. "Sovereign Defaults and Debt Sustainability: The Debt Recovery Channel," CESifo Working Paper Series 9688, CESifo.
    24. Oronde Small & Leanora Brown & Gustavo Canavire‐Bacarreza, 2020. "The Fiscal Policy Response To Public Debt In Developing Countries," Contemporary Economic Policy, Western Economic Association International, vol. 38(1), pages 155-165, January.
    25. Leeper, E.M. & Leith, C., 2016. "Understanding Inflation as a Joint Monetary–Fiscal Phenomenon," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 2305-2415, Elsevier.
    26. Piergallini, Alessandro & Postigliola, Michele, 2020. "Evaluating the sustainability of Italian public finances," The North American Journal of Economics and Finance, Elsevier, vol. 53(C).
    27. Corsetti, G. & Erce, A. & Uy, T., 2018. "Debt Sustainability and the Terms of Official Support," Cambridge Working Papers in Economics 1864, Faculty of Economics, University of Cambridge.
    28. V. Filipe Martins-da-Rocha & Toan Phan & Yiannis Vailakis, 2019. "Debt Limits and Credit Bubbles in General Equilibrium," Working Paper 19-19, Federal Reserve Bank of Richmond.
    29. Hasan Isomitdinov & Vladimir Arčabić & Junsoo Lee & Youngjin Yun & James E. Payne, 2024. "International comovements of public debt," Economic Inquiry, Western Economic Association International, vol. 62(2), pages 722-747, April.
    30. K. R. Shanmugam & K. Shanmugam, 2022. "Sustainability and Threshold Value of Public Debt in Tamil Nadu," Working Papers 2022-226, Madras School of Economics,Chennai,India.
    31. Robertson, D. & Tambakis, D., 2016. "Long-Run Debt Ratios with Fiscal Fatigue," Cambridge Working Papers in Economics 1674, Faculty of Economics, University of Cambridge.
    32. María Cecilia Acevedo & Vanessa Alviarez & Joaquin Lennon Sabatini, 2023. "Managing Private Debt," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 11, pages 255-284, Inter-American Development Bank.
    33. Vasiliki Dimakopoulou & George Economides & Apostolis Philippopoulos & Vanghelis Vassilatos, 2023. "Can Central Banks Do the Unpleasant Job That Governments Should Do?," CESifo Working Paper Series 10603, CESifo.
    34. Lankester-Campos, Valerie & Loaiza-Marín, Kerry & Monge-Badilla, Carlos, 2020. "Assessing public debt sustainability for Costa Rica using the fiscal reaction function," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 1(1).
    35. Fournier, Jean-Marc & Fall, Falilou, 2017. "Limits to government debt sustainability in OECD countries," Economic Modelling, Elsevier, vol. 66(C), pages 30-41.
    36. Leeper, Eric M. & Li, Bing, 2017. "Surplus–debt regressions," Economics Letters, Elsevier, vol. 151(C), pages 10-15.
    37. Kheifets, Igor L. & Phillips, Peter C.B., 2023. "Fully modified least squares cointegrating parameter estimation in multicointegrated systems," Journal of Econometrics, Elsevier, vol. 232(2), pages 300-319.
    38. Economides, George & Koliousi, Giota & Miaouli, Natasha & Philippopoulos, Apostolis, 2025. "From debt arithmetic to fiscal sustainability and fiscal rules: Taking stock and policy lessons," The Journal of Economic Asymmetries, Elsevier, vol. 31(C).
    39. Yannick Bury & Lars P. Feld & Ekkehard A. Köhler, 2024. "On the Fiscal Sustainability of Swiss Cantons Since 1905," CESifo Working Paper Series 11453, CESifo.
    40. Campbell Leith & Eric Leeper, 2016. "Understanding Inflation as a Joint Monetary-Fiscal Phenomenon," Working Papers 2016_01, Business School - Economics, University of Glasgow.
    41. Dimakopoulou, Vasiliki & Economides, George & Philippopoulos, Apostolis, 2022. "The ECB's policy, the Recovery Fund and the importance of trust and fiscal corrections: The case of Greece," Economic Modelling, Elsevier, vol. 112(C).
    42. Maebayashi, Noritaka, 2021. "Paces of fiscal consolidations, fiscal sustainability, and welfare: An overlapping generations approach," MPRA Paper 109059, University Library of Munich, Germany.
    43. Enrique G. Mendoza & Eugenio I. Rojas & Linda L. Tesar & Jing Zhang, 2020. "A Macroeconomic Model of Healthcare Saturation, Inequality and the Output-Pandemia Tradeoff," NBER Working Papers 28247, National Bureau of Economic Research, Inc.
    44. Alberola, Enrique & Cheng, Gong & Consiglio, Andrea & Zenios, Stavros A., 2023. "Unconventional monetary policy and debt sustainability in Japan," Journal of the Japanese and International Economies, Elsevier, vol. 69(C).
    45. Khansa Zaman & Muhammad Saeed Rana & Umer Iftikhar, 2019. "A Multilevel Analysis of Job Demands and Intention to Resign Through Perceived Service Recovery Performance," Business & Economic Review, Institute of Management Sciences, Peshawar, Pakistan, vol. 11(2), pages 67-82, June.
    46. Kevin X.D. Huang & Qinglai Meng & Jianpo Xue, 2018. "Balanced‐Budget Rules and Aggregate Instability: The Role of Endogenous Capital Utilization," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 50(8), pages 1669-1709, December.
    47. P. S. Renjith & K. R. Shanmugam, 2025. "Sustainability and Growth Implications of Sub-national Debt: The Indian Experience," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 23(3), pages 875-898, September.
    48. Airaudo, Marco, 2020. "Temptation and forward-guidance," Journal of Economic Theory, Elsevier, vol. 186(C).
    49. Piero Ferri & Fabio Tramontana, 2018. "Debt Persistence in a Deflationary Environment: A Regime-Switching Model," Computational Economics, Springer;Society for Computational Economics, vol. 52(2), pages 421-442, August.
    50. José Luis Peydró & Hernán Rincón-Castro & Miguel Sarmiento & Alejandro Granados, 2025. "Wealth Taxes and Firms’ Capital Structures: Credit Supply and Real Effects," Borradores de Economia 1316, Banco de la Republica de Colombia.
    51. Olumide Olusegun Olaoye & Phillip A. Olomola, 2023. "Sub‐Saharan Africa's rising public debt stock: Is there a cause for concern?," South African Journal of Economics, Economic Society of South Africa, vol. 91(1), pages 85-115, March.
    52. K. R. Shanmugam & P.S. Renjith, 2023. "Sustainability and Threshold Value of Public Debt of Centre and All State Governments in India," Working Papers 2023-240, Madras School of Economics,Chennai,India.
    53. Ruy Lama & Juan Pablo Medina, 2019. "Fiscal Deficits and Unemployment Dynamics: The Role of Productivity Gains and Wage Rigidities," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 34, pages 121-140, October.
    54. Leopoldo Avellán & Arturo Galindo & Giulia Lotti, 2023. "Official Creditors: Providing More than Money," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 7, pages 161-182, Inter-American Development Bank.
    55. Jawaria Zahid & Atif Khan Jadoon & Bisma Hamza & Muhammad Ali, 2024. "Macroeconomics Determinants of Fiscal Sustainability in the Asian Countries," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 13(1), pages 193-201.
    56. Juan Manuel Hernández & Andrew Powell & Oscar Mauricio Valencia, 2023. "Debt Sustainability: More Important than Ever," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 5, pages 95-122, Inter-American Development Bank.
    57. Medina, Juan Pablo, 2021. "Mining development and macroeconomic spillovers in Chile," Resources Policy, Elsevier, vol. 70(C).
    58. Enrique Alberola-Ila & Gong Cheng & Andrea Consiglio & Stavros A. Zenios, 2022. "Debt sustainability and monetary policy: the case of ECB asset purchases," BIS Working Papers 1034, Bank for International Settlements.
    59. Marina Azzimonti & Vincenzo Quadrini, 2019. "International spillovers and `ex-ante' efficient bailouts," 2019 Meeting Papers 318, Society for Economic Dynamics.
    60. Esteve, Vicente & Prats, María A., 2023. "Testing explosive bubbles with time-varying volatility: the case of Spanish public debt," LSE Research Online Documents on Economics 116980, London School of Economics and Political Science, LSE Library.
    61. James Malley & Apostolis Philippopoulos & Jim Malley, 2022. "The Macroeconomic Effects of Funding U.S. Infrastructure," CESifo Working Paper Series 9530, CESifo.
    62. Emilio Congregado & Silviano Carmen Díaz-Roldán & Vicente Esteve, 2023. "Deficit sustainability and the Fiscal Theory of the Price Level: the case of Italy, 1861-2020," Working Papers 2301, Department of Applied Economics II, Universidad de Valencia.
    63. Xue, Jianpo & Yip, Chong K., 2018. "Home production, balanced-budget taxation and economic (in)stability," Journal of Macroeconomics, Elsevier, vol. 56(C), pages 231-242.
    64. Roch, Francisco & Uhlig, Harald, 2018. "The dynamics of sovereign debt crises and bailouts," Journal of International Economics, Elsevier, vol. 114(C), pages 1-13.
    65. Hyejin Ko, 2020. "Measuring fiscal sustainability in the welfare state: fiscal space as fiscal sustainability," International Economics and Economic Policy, Springer, vol. 17(2), pages 531-554, May.
    66. Liontos, George & Philippopoulos, Apostolis, 2023. "Who benefits from international fiscal cooperation? The role of cross-country asymmetries," The Journal of Economic Asymmetries, Elsevier, vol. 27(C).
    67. Syed Sadaqat Ali Shah & Muhammad Asim Afridi & Libin Luo & Dilvin Taşkın, 2025. "Fiscal Resilience or Vulnerability? Assessing Public Debt Sustainability in the Developing Countries During 1996–2020," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 16(2), pages 8983-9017, June.
    68. Okwoche Princewill U. & Iheonu Chimere O., 2021. "Determinants of fiscal effort in sub-Saharan African countries: Does conflict matter?," Economics and Business Review, Sciendo, vol. 7(2), pages 50-73, June.
    69. Stavros A. Zenios & Andrea Consiglio & Marialena Athanasopoulou & Edmund Moshammer & Angel Gavilan & Aitor Erce, 2021. "Risk Management for Sustainable Sovereign Debt Financing," Operations Research, INFORMS, vol. 69(3), pages 755-773, May.
    70. Olaoye, Olumide Olusegun & Olomola, P.A., 2022. "Empirical analysis of asymmetry phenomenon in the public debt structure of Sub-Saharan Africa's five biggest economies: A Markov-Switching model," The Journal of Economic Asymmetries, Elsevier, vol. 25(C).
    71. Marina Azzimonti & Vincenzo Quadrini, 2019. "International Spillovers and Bailouts," Department of Economics Working Papers 19-06, Stony Brook University, Department of Economics.
    72. K. R. Shanmugam & P.S. Renjith, 2022. "Empirical Analysis on Sustainability of Public Debt in Indian States," Working Papers 2022-235, Madras School of Economics,Chennai,India.
    73. Cecilia CIOCÎRLAN & Bianca Roxana SALAGEANU (ȘOLDAN) & Andreea STANCEA & Victor CIUCIUC, 2024. "Macroeconomic Prospects for Public Finance Management Sustainability: An Econometric Approach for Debt in Central and Eastern European Countries," CECCAR Business Review, Body of Expert and Licensed Accountants of Romania (CECCAR), vol. 5(6), pages 54-67, June.
    74. György Molnár & Gábor Dániel Soós & Balázs Világi, 2017. "Fiscal Policy and the Business Cycle," Financial and Economic Review, Magyar Nemzeti Bank (Central Bank of Hungary), vol. 16(4), pages 58-85.
    75. Michel Guillard & Hubert Kempf, 2017. "Public Debt Sustainability and Defaults," CESifo Working Paper Series 6554, CESifo.
    76. Togan Eğrican, Aslı & Caner, Selçuk & Togan, Sübidey, 2022. "Reforming public debt governance in Turkey to reach debt sustainability," Journal of Policy Modeling, Elsevier, vol. 44(5), pages 1057-1076.
    77. Ludger Schuknecht & Christoph A. Schaltegger & Michele Salvi & Jan Schnellenbach & Thomas Lenk & Christian Bender & Mario Hesse & Gert G. Wagner & Stefan Korioth & Klaus Gründler & Philipp Heil & Nikl, 2021. "Zankapfel Schuldenbremse: Bewährtes Instrument auch in Krisenzeiten?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 74(04), pages 03-30, April.
    78. Rai da Silva Chicoli & Siegfried Bender, 2019. "Estimation of maximum debt for emerging countries: An analysis by fiscal reaction function," Working Papers, Department of Economics 2019_44, University of São Paulo (FEA-USP).
    79. Economides, George & Koliousi, Giota & Miaouli, Natasha & Philippopoulos, Apostolis, 2024. "From debt arithmetic to fiscal sustainability and fiscal rules: taking stock and policy lessons," LSE Research Online Documents on Economics 122241, London School of Economics and Political Science, LSE Library.
    80. Andrew Powell & Oscar Mauricio Valencia, 2023. "The Debt Conundrum," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 1, pages 1-4, Inter-American Development Bank.
    81. Maebayashi, Noritaka, 2021. "The pace of fiscal consolidations, fiscal sustainability, and welfare: An overlapping generations approach," MPRA Paper 112593, University Library of Munich, Germany, revised 30 Feb 2022.
    82. Feld, Lars P., 2018. "The quest for fiscal rules," Freiburg Discussion Papers on Constitutional Economics 18/09, Walter Eucken Institut e.V..
    83. Checherita-Westphal, Cristina & Domingues Semeano, João, 2020. "Interest rate-growth differentials on government debt: an empirical investigation for the euro area," Working Paper Series 2486, European Central Bank.
    84. Vicente Esteve & María A. Prats, 2022. "Testing explosive bubbles with time-varying volatility: The case of the Spanish public debt, 1850?2021," Working Papers 2205, Department of Applied Economics II, Universidad de Valencia.
    85. Andrea Consiglio & Akis Kikas & Odysseas P. Michaelides & Stavros A. Zenios, 2024. "Auditing Public Debt Using Risk Management," Interfaces, INFORMS, vol. 54(2), pages 103-126, March.
    86. Rodrigo Heresi & Andrew Powell, 2023. "Balance Sheet Vulnerabilities in the Wake of the Pandemic," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 12, pages 285-308, Inter-American Development Bank.
    87. Maebayashi, Noritaka, 2023. "The pace of fiscal consolidations, fiscal sustainability, and welfare: An overlapping generations approach," Journal of Macroeconomics, Elsevier, vol. 75(C).
    88. Eduardo Borensztein & Eduardo Cavallo, 2023. "Domestic Bond Markets: Successes and Challenges," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 3, pages 37-66, Inter-American Development Bank.
    89. Gonzalo F. de-Córdoba & Benedetto Molinari & José L. Torres, 2021. "Public Debt Frontier: A Python Toolkit for Analyzing Public Debt Sustainability," Sustainability, MDPI, vol. 13(23), pages 1-25, November.
    90. Emiliano Brancaccio & Raffaele Giammetti & Milena Lopreite & Michelangelo Puliga, 2023. "Convergence in solvency and capital centralization: A B‐VAR analysis for high‐income and euro area countries," Metroeconomica, Wiley Blackwell, vol. 74(1), pages 40-73, February.
    91. Xiaoshan Chen & Campbell Leith & Matta Ricci, 2018. "Debt Sustainability and Welfare along an Optimal Laffer Curve," Working Papers 2018_01, Business School - Economics, University of Glasgow.
    92. Jan Priewe, 2020. "Why 60 and 3 percent? European debt and deficit rules - critique and alternatives," IMK Studies 66-2020, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    93. Ricardo Reis, 2022. "Debt Revenue and the Sustainability of Public Debt," Journal of Economic Perspectives, American Economic Association, vol. 36(4), pages 103-124, Fall.
    94. Martin Guzman & Domenico Lombardi, 2018. "Assessing the Appropriate Size of Relief in Sovereign Debt Restructuring," Documentos de trabajo del Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET) 2018-26, Universidad de Buenos Aires, Facultad de Ciencias Económicas, Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET).
    95. Francesca Di Iorio & Stefano Fachin, 2022. "Fiscal reaction functions for the advanced economies revisited," Empirical Economics, Springer, vol. 62(6), pages 2865-2891, June.
    96. Liu, Yang, 2023. "Government debt and risk premia," Journal of Monetary Economics, Elsevier, vol. 136(C), pages 18-34.
    97. Di Casola, Paola & Sichlimiris, Spyridon, 2017. "Domestic and External Sovereign Debt," Working Paper Series 345, Sveriges Riksbank (Central Bank of Sweden).
    98. Yasuharu Iwata & Hirokuni IIboshi, 2023. "The Nexus between Public Debt and the Government Spending Multiplier: Fiscal Adjustments Matter," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 85(4), pages 830-858, August.
    99. Checherita-Westphal, Cristina & Žďárek, Václav, 2017. "Fiscal reaction function and fiscal fatigue: evidence for the euro area," Working Paper Series 2036, European Central Bank.
    100. Osband, Kent & Filoso, Valerio & Capasso, Salvatore, 2024. "The limits of limitless debt," Journal of Macroeconomics, Elsevier, vol. 79(C).
    101. Iwata, Yasuharu & Iiboshi, Hirokuni, 2020. "Fiscal Adjustments and Debt-Dependent Multipliers: Evidence from the U.S. Time Series," Discussion paper series HIAS-E-103, Hitotsubashi Institute for Advanced Study, Hitotsubashi University.
    102. Feld, Lars P. & Schmidt, Christoph M. & Schnabel, Isabel & Truger, Achim & Wieland, Volker, 2019. "Den Strukturwandel meistern. Jahresgutachten 2019/20 [Dealing with Structural Change. Annual Report 2019/20]," Annual Economic Reports / Jahresgutachten, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung, volume 127, number 201920.
    103. Chen, Xiaoshan & Leith, Campbell & Ricci, Mattia, 2023. "Evaluating fiscal policy reforms using the fiscal frontier," Journal of Economic Dynamics and Control, Elsevier, vol. 155(C).
    104. Betty Daniel, Christos Shiamptanis, 2015. "Predicting Sovereign Fiscal Crises: High-Debt Developed Countries," LCERPA Working Papers 0090, Laurier Centre for Economic Research and Policy Analysis, revised 05 May 2015.
    105. Airaudo, Marco, 2025. "Temptation-driven preferences: A resolution to New Keynesian anomalies," European Economic Review, Elsevier, vol. 172(C).
    106. Eduardo Levy Yeyati & Andrew Powell, 2023. "Sovereign Debt Management," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 6, pages 123-160, Inter-American Development Bank.
    107. Canofari, Paolo & Marini, Giancarlo & Piergallini, Alessandro, 2020. "Financial Crisis and Sustainability of US Fiscal Deficit: Indicators or Tests?," Journal of Policy Modeling, Elsevier, vol. 42(1), pages 192-204.
    108. Muhammad Jalib Sikandar & Fazale Wahid, 2019. "Debt and Economic Growth of Pakistan; Role of Uncertain Economic and Political Conditions," Business & Economic Review, Institute of Management Sciences, Peshawar, Pakistan, vol. 11(2), pages 83-106, June.
    109. Powell, Andrew & Valencia, Oscar, 2023. "Dealing with Debt: Less Risk for More Growth in Latin America and the Caribbean," IDB Publications (Books), Inter-American Development Bank, number 12664, November.
    110. Hernán Ricardo Briceño & Javier Perote, 2020. "Determinants of the Public Debt in the Eurozone and Its Sustainability Amid the Covid-19 Pandemic," Sustainability, MDPI, vol. 12(16), pages 1-29, August.
    111. Röhrs, Sigrid & Winter, Christoph, 2017. "Reducing government debt in the presence of inequality," Journal of Economic Dynamics and Control, Elsevier, vol. 82(C), pages 1-20.
    112. Igor Kheifets & Peter C.B. Phillips, 2019. "Fully Modified Least Squares for Multicointegrated Systems," Cowles Foundation Discussion Papers 2210, Cowles Foundation for Research in Economics, Yale University.
    113. Dimitris Hatzinikolaou & Dimitrios Hatzinikolaou, 2025. "Modeling aggregate investment under financial constraints," Empirical Economics, Springer, vol. 68(2), pages 759-781, February.
    114. Jamel Saadaoui & Marco Chi Keung Lau & Yifei Cai, 2022. "Assessing Debt Stationarity and Sustainability in the Longer Run with Fourier DF Unit Root Tests and Time-Varying Fiscal Reaction Functions," Working Papers of BETA 2022-11, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.

  15. Enrique G. Mendoza & Linda L. Tesar & Jing Zhang, 2014. "Saving Europe?: The Unpleasant Arithmetic of Fiscal Austerity in Integrated Economies," Working Paper Series WP-2014-13, Federal Reserve Bank of Chicago.

    Cited by:

    1. Pablo D'Erasmo & Enrique G. Mendoza & Jing Zhang, 2015. "What is a Sustainable Public Debt?," NBER Working Papers 21574, National Bureau of Economic Research, Inc.
    2. Gabriel Chodorow-Reich & Loukas Karabarbounis & Rohan Kekre, 2019. "The Macroeconomics of the Greek Depression," Working Papers 758, Federal Reserve Bank of Minneapolis.
    3. Alexandra Ferreira‐Lopes & Luís Filipe Martins & Ruben Espanhol, 2020. "The relationship between tax rates and tax revenues in eurozone member countries ‐ exploring the Laffer curve," Bulletin of Economic Research, Wiley Blackwell, vol. 72(2), pages 121-145, April.
    4. Christine Ma & Chung Tran, 2016. "Fiscal Space under Demographic Shift," ANU Working Papers in Economics and Econometrics 2016-642, Australian National University, College of Business and Economics, School of Economics.
    5. Eijffinger, Sylvester & Uras, Burak & Kobielarz, Michal, 2015. "Sovereign Debt, Bail-Outs and Contagion in a Monetary Union," CEPR Discussion Papers 10459, C.E.P.R. Discussion Papers.
    6. Victoria Nuguer & Jessica Roldan-Pena & Enrique Mendoza & Julio Carrillo, 2016. "When the Central Bank Meets the Financial Authority: Strategic Interactions and Institutional Design," 2016 Meeting Papers 1461, Society for Economic Dynamics.
    7. Tamon Asonuma & Hyungseok Joo, 2025. "Fiscal Consolidation and Sovereign Debt Restructurings," School of Economics Discussion Papers 0525, School of Economics, University of Surrey.
    8. Tamon Asonuma & Hyungseok Joo, 2023. "Sovereign Defaults and Public Investment (Capital)," School of Economics Discussion Papers 1123, School of Economics, University of Surrey.
    9. Enrique Mendoza, 2015. "EconomicDynamics Interviews Enrique Mendoza on Sovereign Debt," EconomicDynamics Newsletter, Review of Economic Dynamics, vol. 16(1), April.
    10. Stéphane Auray & Aurélien Eyquem & Paul Gomme, 2018. "Debt Hangover in the Aftermath of the Great Recession," Working Papers halshs-01942719, HAL.
    11. D’Erasmo, Pablo & Mendoza, Enrique G., 2021. "History remembered: Optimal sovereign default on domestic and external debt," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 969-989.
    12. Paul Gomme, 2021. "Labor Market and Fiscal Policy During and After the Coronavirus," Working Papers 21003, Concordia University, Department of Economics.
    13. Alejandro Cunat & Szabolcs Deak & Marco Maffezzoli, 2022. "Tax Cuts in Open Economies," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 45, pages 83-108, July.
    14. Kevin X.D. Huang & Qinglai Meng & Jianpo Xue, 2019. "Capital Income Taxation and Aggregate Instability," Vanderbilt University Department of Economics Working Papers 19-00007, Vanderbilt University Department of Economics.
    15. Christopher L. House & Linda L. Tesar, 2015. "Greek Budget Realities: No Easy Options," NBER Working Papers 21688, National Bureau of Economic Research, Inc.
    16. Enrique G. Mendoza & Eugenio I. Rojas & Linda L. Tesar & Jing Zhang, 2020. "A Macroeconomic Model of Healthcare Saturation, Inequality and the Output-Pandemia Tradeoff," NBER Working Papers 28247, National Bureau of Economic Research, Inc.
    17. Matteo Cacciatore & Nora Traum, 2020. "Trade Flows and Fiscal Multipliers," NBER Working Papers 27652, National Bureau of Economic Research, Inc.
    18. Tamon Asonuma & Hyungseok Joo, 2021. "Public Capital and Fiscal Constraint in Sovereign Debt Crises," School of Economics Discussion Papers 0621, School of Economics, University of Surrey.
    19. Anzoategui, Diego, 2022. "Sovereign spreads and the effects of fiscal austerity," Journal of International Economics, Elsevier, vol. 139(C).
    20. Tamon Asonuma & Hyungseok Joo, 2023. "Sovereign Defaults and Debt Restructurings: Public Capital and Fiscal Constraint Tightness," School of Economics Discussion Papers 0323, School of Economics, University of Surrey.
    21. Filippo Balestrieri & Mr. Suman S Basu, 2018. "An Imperfect Financial Union With Heterogeneous Regions," IMF Working Papers 2018/205, International Monetary Fund.
    22. Pablo D'Erasmo & Enrique Mendoza, 2015. "Distributional Incentives in an Equilibrium Model of Domestic Sovereign Default," PIER Working Paper Archive 15-031, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 27 Aug 2015.
    23. Enrique Mendoza, 2017. "Optimal Domestic (and External) Sovereign Default," 2017 Meeting Papers 279, Society for Economic Dynamics.
    24. Curatola, Giuliano & Donadelli, Michael & Gioffré, Alessandro & Grüning, Patrick, 2015. "Austerity, fiscal uncertainty, and economic growth: Insights from fiscally weak EU countries," SAFE Working Paper Series 56, Leibniz Institute for Financial Research SAFE, revised 2015.
    25. Paul Gomme, 2022. "US Fiscal policy during and after the coronavirus," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 55(S1), pages 358-378, February.
    26. Tesar, Linda & Mendoza, Enrique & Rojas, Eugenio, 2021. "A Macroeconomic Model of Healthcare Saturation, Inequality & the Output-Pandemia Tradeoff," CEPR Discussion Papers 15846, C.E.P.R. Discussion Papers.
    27. Carlos Rondón-Moreno, 2022. "Debt and Taxes: Optimal Fiscal Consolidation in the Small Open Economy," Working Papers Central Bank of Chile 941, Central Bank of Chile.
    28. Christos Shiamptanis, 2019. "Tax Austerity: Does it avert solvency crises?," LCERPA Working Papers ec0119, Laurier Centre for Economic Research and Policy Analysis.
    29. Christopher L. House & Linda L. Tesar, 2015. "Greek Budget Realities: No Easy Option," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 46(2 (Fall)), pages 329-347.
    30. Xiaoshan Chen & Campbell Leith & Matta Ricci, 2018. "Debt Sustainability and Welfare along an Optimal Laffer Curve," Working Papers 2018_01, Business School - Economics, University of Glasgow.
    31. Arbex, Marcelo & Barros, Luiz A. & Corrêa, Márcio V., 2024. "Pandemic, inequality and public health: A quantitative analysis," The Quarterly Review of Economics and Finance, Elsevier, vol. 97(C).
    32. Jocelyn Boussard & Benoît Campagne, 2017. "Fiscal policy coordination in a monetary union at the zero lower bound," Economie et Statistique / Economics and Statistics, Institut National de la Statistique et des Etudes Economiques (INSEE), issue 494-495-4, pages 65-90.
    33. Falilou Fall & Debra Bloch & Jean-Marc Fournier & Peter Hoeller, 2015. "Prudent debt targets and fiscal frameworks," OECD Economic Policy Papers 15, OECD Publishing.
    34. Sokolovskyi, Dmytro, 2020. "Is Race to the bottom is modeled as Prisoner's dilemma?," MPRA Paper 99404, University Library of Munich, Germany.
    35. Chen, Xiaoshan & Leith, Campbell & Ricci, Mattia, 2023. "Evaluating fiscal policy reforms using the fiscal frontier," Journal of Economic Dynamics and Control, Elsevier, vol. 155(C).
    36. Stéphane Auray & Aurélien Eyquem & Paul Gomme, 2016. "A Tale Of Tax Policies In Open Economies," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 57(4), pages 1299-1333, November.
    37. Janeba, Eckhard & Todtenhaupt, Maximilian, 2018. "Fiscal competition and public debt," Journal of Public Economics, Elsevier, vol. 168(C), pages 47-61.
    38. Kabukçuoğlu, Ayşe, 2017. "The winners and losers of tax reform: An assessment under financial integration," Journal of Economic Dynamics and Control, Elsevier, vol. 85(C), pages 90-122.
    39. Diego Anzoategui, 2019. "Sovereign Debt and the Effects of Fiscal Austerity," 2019 Meeting Papers 441, Society for Economic Dynamics.

  16. Andrei A. Levchenko & Jing Zhang, 2014. "The Evolution of Comparative Advantage: Measurement and Implications," Working Paper Series WP-2014-12, Federal Reserve Bank of Chicago.

    Cited by:

    1. Scott French, 2017. "Revealed Comparative Advantage: What Is it Good For?," Discussion Papers 2014-39B, School of Economics, The University of New South Wales.

  17. Jing Zhang, 2013. "Global Welfare Impact of China: Trade Integration and Technology Change," 2013 Meeting Papers 630, Society for Economic Dynamics.

    Cited by:

    1. Ferdinando Monte, 2014. "Local Transmission of Trade Shocks," Working Papers 2014-001, Human Capital and Economic Opportunity Working Group.
    2. Andrei A. Levchenko & Jing Zhang, 2013. "The Global Labor Market Impact of Emerging Giants: a Quantitative Assessment," Working Papers 637, Research Seminar in International Economics, University of Michigan.
    3. José A. Tenreiro Machado & Maria Eugénia Mata & António M. Lopes, 2020. "Fractional Dynamics and Pseudo-Phase Space of Country Economic Processes," Mathematics, MDPI, vol. 8(1), pages 1-17, January.
    4. Rod Tyers & Yixiao Zhou, 2019. "Financial Integration and the Global Effects of China's Growth Surge," Economics Discussion / Working Papers 19-01, The University of Western Australia, Department of Economics.
    5. Andrei A. Levchenko & Jing Zhang, 2013. "Ricardian Productivity Differences and the Gains from Trade," NBER Working Papers 19641, National Bureau of Economic Research, Inc.
    6. Lu Jin & Atsushi Inoue & Barbara Rossi, 2015. "Rolling Window Selection for Out-of-Sample Forecasting with Time-Varying Parameters," Working Papers 768, Barcelona School of Economics.

  18. Andrei A. Levchenko & Jing Zhang, 2013. "The global labor market impact of rmerging giants: a quantitative assessment," Working Paper Series WP-2013-10, Federal Reserve Bank of Chicago.

    Cited by:

    1. Joao Paulo Pessoa, 2016. "International competition and labor market adjustment," CEP Discussion Papers dp1411, Centre for Economic Performance, LSE.
    2. Francesco Caselli & Miklos Koren & Milan Lisicky & Silvana Tenreyro, 2015. "Diversification through Trade," CEP Discussion Papers dp1388, Centre for Economic Performance, LSE.
    3. Raphael Auer & Barthélémy Bonadio & Andrei A Levchenko, 2018. "The economics of revoking NAFTA," BIS Working Papers 739, Bank for International Settlements.
    4. Henrik Braconier & Giuseppe Nicoletti & Ben Westmore, 2014. "Policy Challenges for the Next 50 Years," OECD Economic Policy Papers 9, OECD Publishing.
    5. Levchenko, Andrei & Auer, Raphael & Bonadio, Barthelemey, 2018. "The economics and politics of revoking NAFTA," CEPR Discussion Papers 13393, C.E.P.R. Discussion Papers.

  19. Timothy Uy & Kei-Mu Yi & Jing Zhang, 2013. "Structural change in an open economy," Working Paper Series WP-2013-09, Federal Reserve Bank of Chicago.

    Cited by:

    1. Fabio Milani & Sung Ho Park, 2013. "The Effects of Globalization on Macroeconomic Dynamics in a Trade-Dependent Economy: the Case of Korea," Working Papers 141502, University of California-Irvine, Department of Economics.
    2. Seung Mo Choi & Hwagyun Kim & Xiaohan Ma, 2021. "Trade, structural transformation and growth," The World Economy, Wiley Blackwell, vol. 44(6), pages 1770-1794, June.
    3. Sim, Seung-Gyu & Yoo, Dongwoo, 2018. "A quantitative study on endogenous formation of comparative advantage in South Korea," International Review of Economics & Finance, Elsevier, vol. 53(C), pages 71-87.
    4. Debaere, Peter & Kurzendoerfer, Amanda, 2015. "Decomposing U.S. Water Use Since 1950. Is the U.S. Experience Replicable?," CEPR Discussion Papers 10573, C.E.P.R. Discussion Papers.
    5. Jing Zhang & Andrei A. Levchenko, 2011. "Comparative Advantage and the Welfare Impact of European Integration," 2011 Meeting Papers 819, Society for Economic Dynamics.
    6. Michael Sposi, 2015. "Evolving comparative advantage, sectoral linkages, and structural change," Globalization Institute Working Papers 231, Federal Reserve Bank of Dallas.
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  20. Levchenko, Andrei & di Giovanni, Julian & Zhang, Jing, 2013. "The Global Welfare Impact of China: Trade Integration and Technological Change," CEPR Discussion Papers 9683, C.E.P.R. Discussion Papers.

    Cited by:

    1. Yane, Haruka & Yamada, Hiroyuki, 2015. "Import Competition from Neighbors: Impacts on Performances of Enterprises in Vietnam," Conference papers 332621, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    2. Costa, Francisco & Garred, Jason & Pessoa, João Paulo, 2014. "Winners and losers from a commodities-for-manufactures trade boom," LSE Research Online Documents on Economics 60282, London School of Economics and Political Science, LSE Library.
    3. Camila Gutierrez & Javier Turen & Alejandro Vicondoa, 2025. "Global Financial Spillovers of ChineseMacroeconomic Surprises," Working Papers 366, Red Nacional de Investigadores en Economía (RedNIE).
    4. Pierre-Daniel Sarte & Fernando Parro & Esteban Rossi-Hansberg & Lorenzo Caliendo, 2014. "The Impact of Regional and Sectoral Productivity Changes on the U.S. Economy," 2014 Meeting Papers 426, Society for Economic Dynamics.
    5. Joao Paulo Pessoa, 2016. "International competition and labor market adjustment," CEP Discussion Papers dp1411, Centre for Economic Performance, LSE.
    6. Tiago Pereira, 2016. "The effect of developing countries' competition on regional labour markets in Portugal," GEE Papers 0058, Gabinete de Estratégia e Estudos, Ministério da Economia, revised Mar 2016.
    7. Costa, Francisco Junqueira Moreira da & Pessoa, João Paulo, 2019. "Winners and losers from China’s ascension in international trade: a structural approach," FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) 809, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil).
    8. De Lyon, Josh & Pessoa, Joao Paulo, 2021. "Worker and firm responses to trade shocks: The UK-China case," European Economic Review, Elsevier, vol. 133(C).
    9. Liu, Chen & Ma, Xiao, 2018. "China's Export Surge and the New Margins of Trade," MPRA Paper 103970, University Library of Munich, Germany, revised Oct 2020.
    10. Fan, Haichao & Gao, Xiang & Zhang, Lina, 2021. "How China's accession to the WTO affects global welfare?," China Economic Review, Elsevier, vol. 69(C).
    11. Jean-Noël Barrot & Erik Loualiche & Matthew Plosser & Julien Sauvagnat, 2017. "Import competition and household debt," Staff Reports 821, Federal Reserve Bank of New York.
    12. Yu, Zhuangxiong & Cheng, Jiajia & Mukhopadhaya, Pundarik & Dong, Jiemiao, 2023. "Do information spillovers across products aggravate product market monopoly? An examination with Chinese data," Economic Modelling, Elsevier, vol. 125(C).
    13. Kim, Dongin & Steinbach, Sandro & Zurita, Carlos, 2024. "Deep trade agreements and agri-food global value chain integration," Food Policy, Elsevier, vol. 127(C).
    14. Daron Acemoglu & Gino Gancia & Fabrizio Zilibotti, 2015. "Offshoring and Directed Technical Change," Working Papers 735, Barcelona School of Economics.
    15. Sebastian Dyrda & Guangbin Hong & Joseph B Steinberg, 2022. "A Macroeconomic Perspective on Taxing Multinational Enterprises," Working Papers tecipa-731, University of Toronto, Department of Economics.
    16. Hanson, Gordon H. & Lind, Nelson & Muendler, Marc-Andreas, 2015. "The Dynamics of Comparative Advantage," CAGE Online Working Paper Series 252, Competitive Advantage in the Global Economy (CAGE).
    17. Brandt, Loren & Lim, Kevin, 2024. "Opening up in the 21st century: A quantitative accounting of Chinese export growth," Journal of International Economics, Elsevier, vol. 150(C).
    18. Larry D. Qiu & Chaoqun Zhan, 2016. "Special Section: China's Growing Trade and its Role to the World Economy," Pacific Economic Review, Wiley Blackwell, vol. 21(1), pages 45-71, February.
    19. Robert C. Feenstra, 2017. "Statistics to Measure Offshoring and its Impact," NBER Working Papers 23067, National Bureau of Economic Research, Inc.
    20. Dobbelaere, Sabien & Wiersma, Quint, 2020. "The Impact of Trade Liberalization on Firms' Product and Labor Market Power," IZA Discussion Papers 12951, IZA Network @ LISER.
    21. Adda, Jérôme & Fawaz, Yarine, 2020. "The Health Toll of Import Competition," IZA Discussion Papers 12924, IZA Network @ LISER.
    22. George Alessandria & Horag Choi & Dan Lu, 2017. "Trade Integration and the Trade Balance in China," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 65(3), pages 633-674, August.
    23. Redding, Stephen & Kleinman, Benny & Liu, Ernest, 2020. "International Friends and Enemies," CEPR Discussion Papers 15068, C.E.P.R. Discussion Papers.
    24. Peter Eppinger & Gabriel J. Felbermayr & Oliver Krebs & Bohdan Kukharskyy, 2021. "Decoupling Global Value Chains," CESifo Working Paper Series 9079, CESifo.
    25. Bosker, Maarten & Westbrock, Bastian, 2024. "The network origins of the gains from trade," Journal of Economic Theory, Elsevier, vol. 216(C).
    26. Li, Guangzhong & Li, Jie & Zheng, Ying & Egger, Peter H., 2021. "Does property rights protection affect export quality? Evidence from a property law enactment," Journal of Economic Behavior & Organization, Elsevier, vol. 183(C), pages 811-832.
    27. Ferdinando Monte, 2014. "Local Transmission of Trade Shocks," Working Papers 2014-001, Human Capital and Economic Opportunity Working Group.
    28. Peter Egger & Sergey K. Nigai, 2016. "World-Trade Growth Accounting," CESifo Working Paper Series 5831, CESifo.
    29. Ufuk Akcigit, 2017. "Innovation and Trade Policy in a Globalizing World," 2017 Meeting Papers 1627, Society for Economic Dynamics.
    30. Andrei A. Levchenko & Jing Zhang, 2013. "The Global Labor Market Impact of Emerging Giants: a Quantitative Assessment," Working Papers 637, Research Seminar in International Economics, University of Michigan.
    31. Huang, Hanwei & Ju, Jiandong & Yue, Vivian Z., 2024. "Accounting for the evolution of China's production and trade patterns," LSE Research Online Documents on Economics 126809, London School of Economics and Political Science, LSE Library.
    32. Miaojie Yu, 2020. "China-US Trade War and Trade Talk," Springer Books, Springer, number 978-981-15-3785-1, October.
    33. Hanson, Gordon & Autor, David & Dorn, David, 2016. "The China Shock: Learning from Labor Market Adjustment to Large Changes in Trade," CEPR Discussion Papers 11054, C.E.P.R. Discussion Papers.
    34. Pavel Chakraborty & Michael Henry, 2018. "Chinese Competition and Product Variety of Indian Firms," Working Papers 245425397, Lancaster University Management School, Economics Department.
    35. Amandine Aubry, 2022. "Trade, access to varieties, and patterns of consumption," Review of International Economics, Wiley Blackwell, vol. 30(2), pages 369-400, May.
    36. Liang Bai & Sebastian Stumpner, 2019. "Estimating US Consumer Gains from Chinese Imports," Working papers 718, Banque de France.
    37. Amiti, Mary & Dai, Mi & Feenstra, Robert & Romalis, John, 2017. "How Did China's WTO Entry Benefit U.S. Consumers?," CEPR Discussion Papers 12076, C.E.P.R. Discussion Papers.
    38. José A. Tenreiro Machado & Maria Eugénia Mata & António M. Lopes, 2020. "Fractional Dynamics and Pseudo-Phase Space of Country Economic Processes," Mathematics, MDPI, vol. 8(1), pages 1-17, January.
    39. Basistha, Arabinda, 2025. "A Markov-switching dynamic factor framework for dating global economic cycles," Journal of International Money and Finance, Elsevier, vol. 157(C).
    40. Meixin Guo & Lin Lu & Liugang Sheng & Miaojie Yu, 2018. "The Day After Tomorrow: Evaluating the Burden of Trump's Trade War," Asian Economic Papers, MIT Press, vol. 17(1), pages 101-120, Winter/Sp.
    41. Francesco Caselli & Miklos Koren & Milan Lisicky & Silvana Tenreyro, 2015. "Diversification through Trade," CEP Discussion Papers dp1388, Centre for Economic Performance, LSE.
    42. Hu, Chenyue, 2020. "Industrial specialization matters: A new angle on equity home Bias," Journal of International Economics, Elsevier, vol. 126(C).
    43. Mary Amiti & Mi Dai & Robert C. Feenstra & John Romalis, 2017. "How did China’s WTO entry benefit U.S. prices?," Staff Reports 817, Federal Reserve Bank of New York.
    44. Andreas M. Fischer & Philipp Herkenhoff & Philip Sauré, 2023. "Identifying Chinese supply shocks: Effects of trade on labor markets," Review of International Economics, Wiley Blackwell, vol. 31(4), pages 1476-1507, September.
    45. James Riedel, 2018. "The costs and benefits of exchange rate protection in China," Asian-Pacific Economic Literature, The Crawford School, The Australian National University, vol. 32(1), pages 3-17, May.
    46. Mr. Rabah Arezki & Mr. Christian Bogmans & Mr. Harris Selod, 2018. "The Globalization of Farmland: Theory and Empirical Evidence," IMF Working Papers 2018/145, International Monetary Fund.
    47. Laurent Didier & Pamina Koenig, 2019. "Has China replaced colonial trade?," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 155(2), pages 199-226, May.
    48. Pengfei Wang & Danyang Xie, 2018. "Trade, Sectorial Reallocation, and Growth," Annals of Economics and Finance, Society for AEF, vol. 19(1), pages 49-74, May.
    49. Hu, Chenyue, 2023. "What explains equity home bias? Theory and evidence at the sector level," Santa Cruz Department of Economics, Working Paper Series qt8nh9t5zs, Department of Economics, UC Santa Cruz.
    50. Muendler, Marc-Andreas, 2017. "Trade, technology, and prosperity: An account of evidence from a labor-market perspective," WTO Staff Working Papers ERSD-2017-15, World Trade Organization (WTO), Economic Research and Statistics Division.
    51. Iacovone, Leonardo & Rauch, Ferdinand & Winters, L. Alan, 2013. "Trade as an engine of creative destruction: Mexican experience with Chinese competition," Journal of International Economics, Elsevier, vol. 89(2), pages 379-392.
    52. Fabrice Defever & Alejandro Riaño, 2013. "China's Pure Exporter Subsidies," FIW Working Paper series 121, FIW.
    53. Shu Lin & Kang Shi & Haichun Ye, 2018. "Exchange rate volatility and trade: The role of credit constraints," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 30, pages 203-222, October.
    54. Andrei A. Levchenko & Jing Zhang, 2012. "Comparative Advantage and the Welfare Impact of European Integration," Working Papers 626, Research Seminar in International Economics, University of Michigan.
    55. Inga Heiland, 2017. "Five Essays on International Trade, Factor Flows and the Gains from Globalization," ifo Beiträge zur Wirtschaftsforschung, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 74.
    56. Tokarick, Stephen, 2017. "The Implications of Chinas Pattern of Growth For the Rest of the World," Conference papers 332818, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    57. Rod Tyers, 2015. "Financial integration and China's global impact," CAMA Working Papers 2015-02, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    58. Nelson Lind & Natalia Ramondo, 2019. "Global Innovation and Knowledge Diffusion," 2019 Meeting Papers 1364, Society for Economic Dynamics.
    59. Steinberg, Joseph B., 2019. "Brexit and the macroeconomic impact of trade policy uncertainty," Journal of International Economics, Elsevier, vol. 117(C), pages 175-195.
    60. Matilde Bombardini & Andres Gonzalez-Lira, 2024. "The Increasing Cost of Buying American," CESifo Working Paper Series 11339, CESifo.
    61. Kaveh Majlesi & Gaia Narciso, 2015. "International Import Competition and the Decision to Migrate: Evidence from Mexico," RFBerlin Discussion Paper Series 1511, ROCKWOOL Foundation Berlin (RFBerlin).
    62. Yuan Zi, 2016. "Trade Liberalization and the Great Labor Reallocation," IHEID Working Papers 18-2016, Economics Section, The Graduate Institute of International Studies.
    63. Obstfeld, Maurice & Feenstra, Robert & Russ, Katheryn N. & Luck, Philip, 2014. "In Search of the Armington Elasticity," CEPR Discussion Papers 9951, C.E.P.R. Discussion Papers.
    64. Chakraborty, Pavel & Mitra, Devashish & Sundaram, Asha, 2024. "Import competition, labor market regulations, and firm outsourcing," Journal of Development Economics, Elsevier, vol. 168(C).
    65. Timothy Uy & Kei-Mu Yi & Jing Zhang, 2013. "Structural change in an open economy," Working Paper Series WP-2013-09, Federal Reserve Bank of Chicago.
    66. Adrian Boos & Karin Holm‐Müller, 2012. "A theoretical overview of the relationship between the resource curse and genuine savings as an indicator for “weak” sustainability," Natural Resources Forum, Blackwell Publishing, vol. 36(3), pages 145-159, August.
    67. Rod Tyers & Yixiao Zhou, 2019. "Financial Integration and the Global Effects of China's Growth Surge," Economics Discussion / Working Papers 19-01, The University of Western Australia, Department of Economics.
    68. Ana Maria Santacreu & Michael Sposi & Jing Zhang, 2023. "What Determines State Heterogeneity in Response to US Tariff Changes?," Departmental Working Papers 2302, Southern Methodist University, Department of Economics.
    69. Tyers, Rod, 2015. "International effects of China's rise and transition: Neoclassical and Keynesian perspectives," Journal of Asian Economics, Elsevier, vol. 37(C), pages 1-19.
    70. Amiti, Mary & Dai, Mi & Feenstra, Robert C. & Romalis, John, 2020. "How did China's WTO entry affect U.S. prices?," Journal of International Economics, Elsevier, vol. 126(C).
    71. Jürgen Matthes, 2020. "Technologietransfer durch Unternehmensübernahmen chinesischer Investoren [Technology Transfer Through Company Takeovers by Chinese Investors]," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 100(8), pages 633-639, August.
    72. Sanyal, Anirban, 2023. "Caught in the Crossfire: How Trade Policy Uncertainty Impacts Global Trade," EconStor Preprints 272825, ZBW - Leibniz Information Centre for Economics.
    73. Hsieh, Chang-Tai & Ossa, Ralph, 2016. "A global view of productivity growth in China," Journal of International Economics, Elsevier, vol. 102(C), pages 209-224.
    74. Kang, Manho, 2025. "Export competition and innovation," European Economic Review, Elsevier, vol. 178(C).
    75. Paul De Grauwe & Zhaoyong Zhang & Rod Tyers, 2016. "Slower Growth and Vulnerability to Recession: Updating China's Global Impact," Scottish Journal of Political Economy, Scottish Economic Society, vol. 63(1), pages 66-88, February.
    76. Hsu, Wen-Tai & Lu, Yi & Wu, Guiying Laura, 2020. "Competition, markups, and gains from trade: A quantitative analysis of China between 1995 and 2004," Journal of International Economics, Elsevier, vol. 122(C).
    77. Che, Yi & Xu, Xun & Zhang, Yan, 2018. "Chinese import competition, crime, and government transfers in US," Journal of Comparative Economics, Elsevier, vol. 46(2), pages 544-567.
    78. Aichele, Rahel & Heiland, Inga, 2018. "Where is the value added? Trade liberalization and production networks," Journal of International Economics, Elsevier, vol. 115(C), pages 130-144.
    79. Kurokawa, Yoshinori & Pang, Jiaren & Tang, Yao, 2016. "Exchange rate regimes and wage comovements in a Ricardian model with money," Journal of International Economics, Elsevier, vol. 102(C), pages 96-109.
    80. Pedro Cavalcanti Ferreira & Alberto Trejos, 2022. "Trade and the propagation of global shocks," Economic Inquiry, Western Economic Association International, vol. 60(4), pages 1663-1680, October.
    81. Antrà s, Pol & Chor, Davin, 2021. "Global Value Chains," CEPR Discussion Papers 15908, C.E.P.R. Discussion Papers.
    82. Sunghoon Chung, 2020. "Understanding the role of China's domestic market in the (unequal) growth of world economy," The World Economy, Wiley Blackwell, vol. 43(8), pages 2199-2221, August.
    83. Andrei A. Levchenko & Jing Zhang, 2013. "Ricardian Productivity Differences and the Gains from Trade," NBER Working Papers 19641, National Bureau of Economic Research, Inc.
    84. Quint Wiersma, 2019. "The impact of WTO accession on Chinese firms' product and labor market power," Tinbergen Institute Discussion Papers 19-037/V, Tinbergen Institute.
    85. Hanwei Huang & Jiandong Ju & Vivian Z. Yue, 2017. "Structural adjustments and international trade: theory and evidence from China," CEP Discussion Papers dp1508, Centre for Economic Performance, LSE.
    86. Lu Jin & Atsushi Inoue & Barbara Rossi, 2015. "Rolling Window Selection for Out-of-Sample Forecasting with Time-Varying Parameters," Working Papers 768, Barcelona School of Economics.

  21. Andrei A. Levchenko & Jing Zhang, 2012. "Ricardian Productivity Differences and the Gains from Trade," Working Papers 633, Research Seminar in International Economics, University of Michigan.

    Cited by:

    1. French, Scott, 2016. "The composition of trade flows and the aggregate effects of trade barriers," Journal of International Economics, Elsevier, vol. 98(C), pages 114-137.
    2. Scott French, 2017. "Comparative Advantage and Biased Gravity," Discussion Papers 2017-03, School of Economics, The University of New South Wales.
    3. Kim, Dongin & Steinbach, Sandro & Zurita, Carlos, 2024. "Deep trade agreements and agri-food global value chain integration," Food Policy, Elsevier, vol. 127(C).
    4. Hu, Chenyue, 2025. "Portfolio choice analysis in a multi-country macro model," Santa Cruz Department of Economics, Working Paper Series qt94z0d865, Department of Economics, UC Santa Cruz.
    5. Heitor Pellegrina & Sebastian Sotelo, 2019. "Migration, Specialization and Trade: Evidence from the Brazilian March to the West," 2019 Meeting Papers 863, Society for Economic Dynamics.
    6. Sara Formai & Filippo Vergara Caffarelli, 2016. "Quantifying the productivity effects of global sourcing," Temi di discussione (Economic working papers) 1075, Bank of Italy, Economic Research and International Relations Area.
    7. Heerman, Kari E.R. & Zahniser, Steven, "undated". "Trade and production impacts of rolling back NAFTA's agricultural preferences: An application of the systematic heterogeneity general equilibrium gravity model," 2018 Allied Social Sciences Association (ASSA) Annual Meeting, January 5-7, 2018, Philadelphia, Pennsylvania 265401, Agricultural and Applied Economics Association.
    8. Logan T. Lewis & Ryan Monarch & Michael Sposi & Jing Zhang, 2018. "Structural Change and Global Trade," International Finance Discussion Papers 1225, Board of Governors of the Federal Reserve System (U.S.).
    9. Stefano Bolatto, "undated". "Trade across Countries and Manufacturing Sectors with Heterogeneous Trade Elasticities," Development Working Papers 360, Centro Studi Luca d'Agliano, University of Milano.
    10. Erhardt, Katharina & Egger, Peter & Nigai, Sergey, 2021. "Empirical Productivity Distributions and International Trade," VfS Annual Conference 2021 (Virtual Conference): Climate Economics 242392, Verein für Socialpolitik / German Economic Association.
    11. Hu, Chenyue, 2020. "Industrial specialization matters: A new angle on equity home Bias," Journal of International Economics, Elsevier, vol. 126(C).
    12. Pengfei Wang & Danyang Xie, 2018. "Trade, Sectorial Reallocation, and Growth," Annals of Economics and Finance, Society for AEF, vol. 19(1), pages 49-74, May.
    13. Heerman, Kari E.R., 2020. "Technology, ecology and agricultural trade," Journal of International Economics, Elsevier, vol. 123(C).
    14. Pothen, Frank & Hübler, Michael, 2018. "The interaction of climate and trade policy," European Economic Review, Elsevier, vol. 107(C), pages 1-26.
    15. Juan Carlos Suárez Serrato & Owen Zidar, 2014. "Who Benefits from State Corporate Tax Cuts? A Local Labor Markets Approach with Heterogeneous Firms," NBER Working Papers 20289, National Bureau of Economic Research, Inc.
    16. Heerman, Kari E. & Sheldon, Ian M., "undated". "Increased economic integration in the Asia-Pacific Region: What might be the potential impact on agricultural trade?," 2018 Annual Meeting, August 5-7, Washington, D.C. 274279, Agricultural and Applied Economics Association.
    17. Sara Formai & Filippo Vergara Caffarelli, 2015. "Quantifying the productivity e ects of global value chains," Cambridge Working Papers in Economics 1564, Faculty of Economics, University of Cambridge.
    18. Nelson Lind & Natalia Ramondo, 2019. "Global Innovation and Knowledge Diffusion," 2019 Meeting Papers 1364, Society for Economic Dynamics.
    19. Pedro Bento, 2021. "Trade without “scale effects”," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 54(3), pages 1252-1274, November.
    20. Rahul Giri & Kei-Mu Yi & Hakan Yilmazkuday, 2018. "Gains from Trade: Does Sectoral Heterogeneity Matter?," Globalization Institute Working Papers 341, Federal Reserve Bank of Dallas.
    21. Patrick Alexander, 2016. "Producer Heterogeneity, Value-Added, and International Trade," Staff Working Papers 16-54, Bank of Canada.
    22. Alviarez, Vanessa, 2019. "Multinational production and comparative advantage," Journal of International Economics, Elsevier, vol. 119(C), pages 1-54.
    23. Kari E. R. Heerman & Ian M. Sheldon, 2022. "Sustainable agricultural production, income, and eco‐labeling: What can be learned from a modern Ricardian approach?," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 44(4), pages 1614-1636, December.
    24. Ramanarayanan, Ananth, 2020. "Imported inputs and the gains from trade," Journal of International Economics, Elsevier, vol. 122(C).
    25. Jean Imbs & Isabelle Mejean, 2017. "Trade Elasticities," Review of International Economics, Wiley Blackwell, vol. 25(2), pages 383-402, May.
    26. Patrick Alexander, 2017. "Vertical Specialization and Gains from Trade," Staff Working Papers 17-17, Bank of Canada.
    27. Paul De Grauwe & Zhaoyong Zhang & Rod Tyers, 2016. "Slower Growth and Vulnerability to Recession: Updating China's Global Impact," Scottish Journal of Political Economy, Scottish Economic Society, vol. 63(1), pages 66-88, February.
    28. Mulabdic,Alen & Yasar,Pinar, 2021. "Gravity Model–Based Export Potential : An Application to Turkey," Policy Research Working Paper Series 9557, The World Bank.
    29. Yagoub Elryah, 2019. "On the Priorities of Comparative Advantage of Agro-industry Commodities: the way towards Economic Transformation," Research in Business and Management, Macrothink Institute, vol. 6(1), pages 13-47, February.
    30. Hoyos, Mateo & Stellian, Rémi, 2025. "Dynamic trade elasticities and comparative advantages: Evidence from a PTA," SocArXiv 6fya2_v1, Center for Open Science.
    31. Hoyos, Mateo & Stellian, Rémi, 2025. "Dynamic trade elasticities and comparative advantages: Evidence from a PTA," OSF Preprints tr6e3_v1, Center for Open Science.

  22. Christopher L. House & Jing Zhang, 2012. "Layoffs, Lemons and Temps," NBER Working Papers 17962, National Bureau of Economic Research, Inc.

    Cited by:

    1. House, Christopher L., 2014. "Fixed costs and long-lived investments," Journal of Monetary Economics, Elsevier, vol. 68(C), pages 86-100.
    2. Gebauer, Markus, 2019. "Permanent and temporary workers in a matching framework," Research in Economics, Elsevier, vol. 73(2), pages 138-148.
    3. House, Christopher L. & Masatlioglu, Yusufcan, 2015. "Managing markets for toxic assets," Journal of Monetary Economics, Elsevier, vol. 70(C), pages 84-99.

  23. Andrei A. Levchenko & Jing Zhang, 2012. "Comparative Advantage and the Welfare Impact of European Integration," Working Papers 626, Research Seminar in International Economics, University of Michigan.

    Cited by:

    1. Barbero, Javier & Mandras, Giovanni & Rodríguez-Crespo, Ernesto & Rodríguez-Pose, Andrés, 2021. "Quality of government and regional trade: evidence from European Union regions," LSE Research Online Documents on Economics 108211, London School of Economics and Political Science, LSE Library.
    2. Los, Bart & Timmer, Marcel P. & de Vries, Gaaitzen J., 2015. "How important are exports for job growth in China? A demand side analysis," Journal of Comparative Economics, Elsevier, vol. 43(1), pages 19-32.
    3. Morrow, Peter M. & Trefler, Daniel, 2022. "How do endowments determine trade? quantifying the output mix, factor price, and skill-biased technology channels," Journal of International Economics, Elsevier, vol. 137(C).
    4. Michele Imbruno, 2021. "A micro‐founded approach to exploring gains from trade integration: Evidence from 27 EU countries," The World Economy, Wiley Blackwell, vol. 44(3), pages 706-732, March.
    5. Marcel Henkel & Tobias Seidel, 2019. "A Spatial Perspective On European Integration: Heterogeneous Welfare And Migration Effects From The Single Market And The Brexit," Economic Inquiry, Western Economic Association International, vol. 57(1), pages 333-352, January.
    6. Ortega, Francesc & Peri, Giovanni, 2014. "Openness and income: The roles of trade and migration," Journal of International Economics, Elsevier, vol. 92(2), pages 231-251.
    7. Peter Egger & Sergey K. Nigai, 2016. "World-Trade Growth Accounting," CESifo Working Paper Series 5831, CESifo.
    8. Fritz Breuss, 2020. "25 Years of Austria's EU Membership. Quantifying the Economic Benefits With a DSGE Model," WIFO Working Papers 603, WIFO.
    9. Bouët, Antoine & Estrades, Carmen & Laborde, David, 2011. "Households heterogeneity in a global CGE model: an illustration with the MIRAGE poverty module," Conference papers 332034, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    10. Badi H. Baltagi & Peter Egger & Michael Pfaffermayr, 2014. "Panel Data Gravity Models of International Trade," CESifo Working Paper Series 4616, CESifo.
    11. Kancs, d'Artis & Persyn, Damiaan, 2019. "Welfare Gains from the Variety Growth," JRC Working Papers in Economics and Finance 2019-01, Joint Research Centre, European Commission.
    12. Elizaveta Archanskaia, 2013. "Proximity as a Source of Comparative Advantage," Sciences Po Economics Publications (main) hal-01070440, HAL.
    13. Francesc Ortega & Giovanni Peri, 2012. "The Effect of Trade and Migration on Income," NBER Working Papers 18193, National Bureau of Economic Research, Inc.
    14. Elizaveta Archanskaia, 2013. "Proximity as a Source of Comparative Advantage," Sciences Po Economics Discussion Papers hal-01070440, HAL.
    15. Han, Yuancheng & Miranda-Pinto, Jorge & Tanaka, Satoshi, 2023. "Service Trade, Regional Specialization, and Welfare," SocArXiv s9cxf, Center for Open Science.
    16. Robin Grözinger, 2020. "Decomposing Central and Eastern Europe’s trade: Extending the evidence," Working Papers 389, Leibniz Institut für Ost- und Südosteuropaforschung (Leibniz Institute for East and Southeast European Studies).
    17. Elizaveta Archanskaia, 2013. "Proximity as a Source of Comparative Advantage," Working Papers hal-01070440, HAL.
    18. Levchenko, Andrei A. & Zhang, Jing, 2014. "Ricardian productivity differences and the gains from trade," European Economic Review, Elsevier, vol. 65(C), pages 45-65.
    19. Luigi Bonatti & Andrea Fracasso, 2013. "The German Model and the European Crisis," Journal of Common Market Studies, Wiley Blackwell, vol. 51(6), pages 1023-1039, November.
    20. Fritz Breuss, 2020. "Makroökonomische Effekte der 25- jährigen EU-Mitgliedschaft Österreichs," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue Q1-Q2/20, pages 27-48.
    21. Dr. Caroline Ntara, 2022. "What Does Africa Stand to Gain from the African Continental Free Trade Area?," International Journal of Science and Business, IJSAB International, vol. 16(1), pages 69-90.
    22. Nuno Limão, 2016. "Preferential Trade Agreements," NBER Working Papers 22138, National Bureau of Economic Research, Inc.
    23. Ortega, Francesc & Peri, Giovanni, 2013. "Migration, Trade and Income," IZA Discussion Papers 7325, IZA Network @ LISER.

  24. Yun Jung Kim & Linda L. Tesar & Jing Zhang, 2011. "The Impact of Foreign Liabilities on Small Firms: Firm-Level Evidence from the Korean Crisis," Working Papers 620, Research Seminar in International Economics, University of Michigan.

    Cited by:

    1. Lee, Kwan Yong & Naknoi, Kanda, 2024. "Exchange rates, invoicing currencies and the margins of exports," Journal of International Money and Finance, Elsevier, vol. 141(C).
    2. Varela, Liliana & Salomao, Juliana, 2018. "Exchange Rate Exposure and Firm Dynamics," CEPR Discussion Papers 12654, C.E.P.R. Discussion Papers.
    3. Elena Cefis & Cristina Bettinelli & Alex Coad & Orietta Marsili, 2022. "Understanding firm exit: a systematic literature review," Small Business Economics, Springer, vol. 59(2), pages 423-446, August.
    4. Małgorzata Skibińska, 2017. "Transmission of monetary policy and exchange rate shocks under foreign currency lending," KAE Working Papers 2017-027, Warsaw School of Economics, Collegium of Economic Analysis.
    5. Julián Caballero, 2020. "Corporate dollar debt and depreciations: all's well that ends well?," BIS Working Papers 879, Bank for International Settlements.
    6. Niepmann, Friederike & Schmidt-Eisenlohr, Tim, 2022. "Foreign currency loans and credit risk: Evidence from U.S. banks," Journal of International Economics, Elsevier, vol. 135(C).
    7. Egemen Eren & Semyon Malamud & Haonan Zhou, 2023. "Signaling with debt currency choice," BIS Working Papers 1067, Bank for International Settlements.
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    110. Mr. Chris Papageorgiou & Fidel Perez-Sebastian & Mr. Nikola Spatafora, 2019. "Quality Upgrading and Export Performance in the Asian Growth Miracle," IMF Working Papers 2019/259, International Monetary Fund.
    111. Van Reenen, John & Bloom, Nicholas & Draca, Mirko, 2011. "Trade induced technical change? The impact of Chinese imports on innovation, IT and productivity," CEPR Discussion Papers 8236, C.E.P.R. Discussion Papers.
    112. Antonio Navas, 2015. "Technology and the dynamics of comparative advantage," Working Papers 2015005, The University of Sheffield, Department of Economics.
    113. Antrà s, Pol & Chor, Davin, 2021. "Global Value Chains," CEPR Discussion Papers 15908, C.E.P.R. Discussion Papers.
    114. Cieślik, Andrzej & Parteka, Aleksandra, 2021. "Relative Productivity, Country Size and Export Diversification," Structural Change and Economic Dynamics, Elsevier, vol. 57(C), pages 28-44.
    115. Yagoub Elryah, 2019. "On the Priorities of Comparative Advantage of Agro-industry Commodities: the way towards Economic Transformation," Research in Business and Management, Macrothink Institute, vol. 6(1), pages 13-47, February.
    116. Ms. Emine Boz & Ms. Nan Li & Hongrui Zhang, 2019. "Effective Trade Costs and the Current Account: An Empirical Analysis," IMF Working Papers 2019/008, International Monetary Fund.
    117. Alistair Dieppe, 2021. "Global Productivity," World Bank Publications - Books, The World Bank Group, number 34015, April.
    118. Hanwei Huang & Jiandong Ju & Vivian Z. Yue, 2017. "Structural adjustments and international trade: theory and evidence from China," CEP Discussion Papers dp1508, Centre for Economic Performance, LSE.

  26. Yun Jung Kim & Jing Zhang, 2010. "Decentralized Borrowing and Centralized Default," Working Papers 596, Research Seminar in International Economics, University of Michigan.

    Cited by:

    1. Haichao Fan & Xiang Gao, 2017. "Domestic Creditor Rights and External Private Debt," Economic Journal, Royal Economic Society, vol. 127(606), pages 2410-2440, November.
    2. Aguiar, M. & Chatterjee, S. & Cole, H. & Stangebye, Z., 2016. "Quantitative Models of Sovereign Debt Crises," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1697-1755, Elsevier.
    3. Cristina Arellano & Andrew Atkeson & Mark Wright, 2016. "External and Public Debt Crises," NBER Macroeconomics Annual, University of Chicago Press, vol. 30(1), pages 191-244.
    4. Arce, Fernando, 2021. "Private Overborrowing under Sovereign Risk," MPRA Paper 113176, University Library of Munich, Germany.
    5. Si Guo & Yun Pei, 2023. "The impact of sovereign defaults on lending countries," Review of Quantitative Finance and Accounting, Springer, vol. 60(1), pages 345-374, January.
    6. Uribe, Martín & Schmitt-Grohé, Stephanie & Yue, Vivian & Na, Seunghoon, 2015. "A Model of the Twin Ds: Optimal Default and Devaluation," CEPR Discussion Papers 10697, C.E.P.R. Discussion Papers.
    7. Pierri, Damian Rene & Seoane, Hernán, 2022. "An ergodic theory of sovereign default," UC3M Working papers. Economics 36164, Universidad Carlos III de Madrid. Departamento de Economía.
    8. Alessandria, George & Bai, Yan & Deng, Minjie, 2020. "Migration and sovereign default risk," Journal of Monetary Economics, Elsevier, vol. 113(C), pages 1-22.
    9. Charles-Henri Weymuller & Eduardo Davila, 2016. "Optimal Joint Bond Design," 2016 Meeting Papers 1447, Society for Economic Dynamics.
    10. Guo, Si & Pei, Yun & Xie, Zoe, 2022. "A dynamic model of fiscal decentralization and public debt accumulation," Journal of Public Economics, Elsevier, vol. 212(C).
    11. Gondo, Rocío, 2013. "Default Externalities in Emerging Market Systemic Private Debt Crises," Working Papers 2013-023, Banco Central de Reserva del Perú.
    12. Tavares, Tiago, 2019. "Labor market distortions under sovereign debt default crises," Journal of Economic Dynamics and Control, Elsevier, vol. 108(C).
    13. Esquivel, Carlos, 2024. "Underinvestment and capital misallocation under sovereign risk," Journal of International Economics, Elsevier, vol. 151(C).
    14. Yan Bai & Seon Tae Kim & Gabriel P. Mihalache, 2015. "The Maturity and Payment Schedule of Sovereign Debt," NBER Working Papers 20896, National Bureau of Economic Research, Inc.
    15. Maideu-Morera, Gerard, 2024. "Optimal Fiscal Rules and Macroprudential Policies with Sovereign Default Risk," TSE Working Papers 24-1534, Toulouse School of Economics (TSE).
    16. Jun Hee Kwak, 2025. "A Causal Linkage: Corporate Debt and Sovereign Spreads," Empirical Economics, Springer, vol. 68(4), pages 1567-1611, April.
    17. Bernardo Guimaraes & Lucas Tumkus, 2020. "On the costs of sovereign default in quantitative models," Discussion Papers 2021, Centre for Macroeconomics (CFM).
    18. Bai, Yan & Zhang, Jing, 2012. "Financial integration and international risk sharing," Journal of International Economics, Elsevier, vol. 86(1), pages 17-32.
    19. Pierri Damian, 2024. "Accuracy in Recursive Minimal State Space Methods," Computational Economics, Springer;Society for Computational Economics, vol. 64(1), pages 263-305, July.
    20. Tavares, Tiago, 2015. "Labor Market Distortions under Sovereign Default Crises," MPRA Paper 66964, University Library of Munich, Germany.
    21. Si Guo & Yun Pei & Zoe Xie, 2018. "Fiscal Decentralization, Intergovernmental Transfer, and Overborrowing," 2018 Meeting Papers 975, Society for Economic Dynamics.
    22. Mehmet Behzat Ekinci, 2016. "External Borrowing and Inflation in Turkey Between 2003 and 2015: A Simple Linear Regression Analysis," International Journal of Economics and Financial Issues, Econjournals, vol. 6(1), pages 45-54.
    23. M. Udara Peiris & Anna Sokolova & Dimitrios P. Tsomocos, 2025. "Capital flow freezes," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 79(3), pages 853-887, May.
    24. Seunghoon Na & Stephanie Schmitt-Grohé & Martin Uribe & Vivian Z. Yue, 2014. "The Twin Ds: Optimal Default and Devaluation," NBER Working Papers 20314, National Bureau of Economic Research, Inc.

  27. Yan Bai & Jing Zhang, 2009. "Financial Integration and International Risk Sharing," Working Papers 594, Research Seminar in International Economics, University of Michigan.

    Cited by:

    1. Roldán-Peña Jessica, 2012. "Default Risk and Economic Activity: A Small Open Economy Model with Sovereign Debt and Default," Working Papers 2012-16, Banco de México.
    2. Bengui, Julien & Mendoza, Enrique G. & Quadrini, Vincenzo, 2013. "Capital mobility and international sharing of cyclical risk," Journal of Monetary Economics, Elsevier, vol. 60(1), pages 42-62.
    3. Li, Wei & Luo, Yulei & Nie, Jun, 2017. "Elastic attention, risk sharing, and international comovements," Journal of Economic Dynamics and Control, Elsevier, vol. 79(C), pages 1-20.
    4. Park, JungJae, 2011. "Sovereign Default and Capital Accumulation," MPRA Paper 60150, University Library of Munich, Germany, revised Nov 2014.
    5. Hevia, Constantino & Servén, Luis, 2018. "Assessing the degree of international consumption risk sharing," Journal of Development Economics, Elsevier, vol. 134(C), pages 176-190.
    6. Chen, Jianxin & Zhang, Tonghua & Zhou, Yong-wu, 2021. "Stochastic sensitivity and dynamical complexity of newsvendor models subject to trade credit," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 181(C), pages 471-486.
    7. Li, Zhongda & Liu, Lu, 2018. "Financial globalization, domestic financial freedom and risk sharing across countries," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 55(C), pages 151-169.
    8. Rahul Mukherjee, 2011. "Country Portfolios with Imperfect Corporate Governance," IHEID Working Papers 08-2011, Economics Section, The Graduate Institute of International Studies.
    9. Feng, Chaonan & Han, Liyan & Vigne, Samuel & Xu, Yang, 2023. "Geopolitical risk and the dynamics of international capital flows," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 82(C).
    10. David Hillier & Tiago Loncan, 2019. "Stock market integration, cost of equity capital, and corporate investment: Evidence from Brazil," European Financial Management, European Financial Management Association, vol. 25(1), pages 181-206, January.
    11. Durdu, C. Bora & Nunes, Ricardo & Sapriza, Horacio, 2013. "News and sovereign default risk in small open economies," Journal of International Economics, Elsevier, vol. 91(1), pages 1-17.
    12. Galli, Carlo, 2021. "Self-fulfilling debt crises, fiscal policy and investment," Journal of International Economics, Elsevier, vol. 131(C).
    13. Nardo, Michela & Ossola, Elisa & Papanagiotou, Evangalia, 2020. "Financial integration in the EU28 equity markets: measures and drivers," JRC Working Papers in Economics and Finance 2020-09, Joint Research Centre, European Commission.
    14. Eduardo Levy-Yeyati & Tomas Williams, 2011. "Financial globalization in emerging economies:Much ado about nothing?," Business School Working Papers 2011-01, Universidad Torcuato Di Tella.
    15. Hiroshi Fujiki & Akiko Terada-Hagiwara, 2007. "Financial Integration in East Asia," IMES Discussion Paper Series 07-E-12, Institute for Monetary and Economic Studies, Bank of Japan.
    16. Jarko Fidrmuc & Moritz Degler, 2018. "Temporal and Spatial Dependence of Inter-Regional Risk Sharing: Evidence from Russia," Working Papers 373, Leibniz Institut für Ost- und Südosteuropaforschung (Leibniz Institute for East and Southeast European Studies).
    17. Si Guo & Yun Pei, 2023. "The impact of sovereign defaults on lending countries," Review of Quantitative Finance and Accounting, Springer, vol. 60(1), pages 345-374, January.
    18. Jarko Fidrmuc & Serhiy Moroz & Fabian Reck, 2021. "Regional risk-sharing in Ukraine," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 48(3), pages 645-660, August.
    19. Leilane de Freitas Rocha Cambara & Roberto Meurer, 2023. "News sentiment and foreign portfolio investment in Brazil," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(3), pages 3332-3348, July.
    20. Lizarazo, Sandra Valentina, 2013. "Default risk and risk averse international investors," Journal of International Economics, Elsevier, vol. 89(2), pages 317-330.
    21. Gu, Grace Weishi, 2015. "A Tale of Two Countries: Sovereign Default, Exchange Rate, and Trade," MPRA Paper 61900, University Library of Munich, Germany.
    22. Pierucci, Eleonora & Ventura, Luigi, 2012. "International risk sharing and globalization," MPRA Paper 35869, University Library of Munich, Germany.
    23. Toan Phan & Felipe Schwartzman, 2023. "Climate Defaults and Financial Adaptation," Working Paper 23-06, Federal Reserve Bank of Richmond.
    24. V. Filipe Martins-da-Rocha & Toan Phan & Yiannis Vailakis, 2019. "Debt Limits and Credit Bubbles in General Equilibrium," Working Paper 19-19, Federal Reserve Bank of Richmond.
    25. Malin Gardberg, 2016. "Determinants of International Consumption Risk Sharing in Emerging Markets and Developing Countries," EcoMod2016 9452, EcoMod.
    26. Epstein, Brendan & Mukherjee, Rahul & Ramnath, Shanthi, 2016. "Taxes and international risk sharing," Journal of International Economics, Elsevier, vol. 102(C), pages 310-326.
    27. Hevia, Constantino & Serven, Luis, 2013. "Partial consumption insurance and financial openness across the world," Policy Research Working Paper Series 6479, The World Bank.
    28. Peter Fuleky & Luigi Ventura & Qianxue Zhao, 2016. "Common Correlated Effects and International Risk Sharing," Working Papers 201612, University of Hawaii at Manoa, Department of Economics.
    29. Jing Zhang & Yun Jung Kim, 2010. "Decentralized Borrowing and Centralized Default," 2010 Meeting Papers 1288, Society for Economic Dynamics.
    30. Castro, Rui & Koumtingué, Nelnan, 2014. "On the individual optimality of economic integration," Journal of Monetary Economics, Elsevier, vol. 68(C), pages 115-135.
    31. Gerdie Everaert & Lorenzo Pozzi, 2022. "Encompassing measures of international consumption risk sharing and their link with trade and financial globalization," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 37(2), pages 433-449, March.
    32. Leonardo Martinez & Juan Carlos Hatchondo, 2008. "A model of credit risk without commitment," 2008 Meeting Papers 940, Society for Economic Dynamics.
    33. Devereux, Michael B. & Yetman, James, 2014. "Globalisation, pass-through and the optimal policy response to exchange rates," Journal of International Money and Finance, Elsevier, vol. 49(PA), pages 104-128.
    34. Md. Saifur Rahman & Farihana Shahari, 2019. "Does the Financial Integration in ASEAN+3 Respond to Financial Cooperation Agreement and Influence the Real Sectors?," Review of Pacific Basin Financial Markets and Policies (RPBFMP), World Scientific Publishing Co. Pte. Ltd., vol. 22(01), pages 1-18, March.
    35. Alessandria, George & Bai, Yan & Deng, Minjie, 2020. "Migration and sovereign default risk," Journal of Monetary Economics, Elsevier, vol. 113(C), pages 1-22.
    36. Malin Gardberg, 2022. "Financial reforms and low‐income households' impact on international consumption risk sharing," International Finance, Wiley Blackwell, vol. 25(3), pages 375-395, December.
    37. Sandra Lizarazo & Jose Maria Da-Rocha, 2009. "Money, Credit and Default," Working Papers 0908, Centro de Investigacion Economica, ITAM.
    38. Abdullah Alsadan & Hassan Alalmaee & Chokri Zehri & Wissem Ajili Ben Youssef, 2025. "Global financial fragmentation under raised geopolitical risk," International Economics and Economic Policy, Springer, vol. 22(3), pages 1-32, July.
    39. Jean-François Rouillard, 2013. "International Risk Sharing and Land Dynamics," Cahiers de recherche 13-02, Departement d'économique de l'École de gestion à l'Université de Sherbrooke.
    40. Kose, M. Ayhan & Prasad, Eswar S. & Terrones, Marco E., 2009. "Does financial globalization promote risk sharing?," Journal of Development Economics, Elsevier, vol. 89(2), pages 258-270, July.
    41. Phan, Toàn & Schwartzman, Felipe, 2024. "Climate defaults and financial adaptation," European Economic Review, Elsevier, vol. 170(C).
    42. Islamaj,Ergys & Kose,Ayhan, 2021. "What Types of Capital Flows Help Improve International Risk Sharing ?," Policy Research Working Paper Series 9846, The World Bank.
    43. Juan Carlos Hatchondo & Leonardo Martinez & Horacio Sapriza, 2009. "Heterogeneous Borrowers In Quantitative Models Of Sovereign Default," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 50(4), pages 1129-1151, November.
    44. Juan Carlos Hatchondo & Leonardo Martinez & Horacio Sapriza, 2009. "On the cyclicality of the interest rate in emerging economy models: solution methods matter," Working Paper 09-13, Federal Reserve Bank of Richmond.
    45. Fink, Fabian & Scholl, Almuth, 2016. "A quantitative model of sovereign debt, bailouts and conditionality," Journal of International Economics, Elsevier, vol. 98(C), pages 176-190.
    46. Jaap W. B. Bos & Claire Economidou & Lu Zhang, 2020. "Specialization in the presence of trade and financial openness," Empirical Economics, Springer, vol. 58(6), pages 2783-2816, June.
    47. Eberhardt, Markus, 2018. "(At Least) Four Theories for Sovereign Default," CEPR Discussion Papers 13084, C.E.P.R. Discussion Papers.
    48. Yan Bai & José-Víctor Ríos-Rull, 2015. "Demand Shocks and Open Economy Puzzles," American Economic Review, American Economic Association, vol. 105(5), pages 644-649, May.
    49. Faruk Balli & Eleonora Pierucci, 2015. "Globalization and international risk-sharing: do political and social factors matter more than economic integration?," CAMA Working Papers 2015-04, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    50. Malik, Samreen, 2015. "Financial-integration thresholds for consumption risk-sharing," International Review of Economics & Finance, Elsevier, vol. 38(C), pages 73-93.
    51. Malik, Samreen, 2014. "Ex-ante implications of sovereign default," Journal of Banking & Finance, Elsevier, vol. 49(C), pages 386-397.
    52. Xiaoli Zhang & Guoyi Xiu & Fakhar Shahzad & Yupeng Duan, 2021. "Optimal Financing Strategy in a Capital-Constrained Supply Chain with Retailer Green Marketing Efforts," Sustainability, MDPI, vol. 13(3), pages 1-19, January.
    53. Pilar Poncela & Filippo Pericoli & Anna Manca & Filippo Michela Nardo, 2016. "Risk Sharing in Europe," JRC Research Reports JRC104621, Joint Research Centre.
    54. Michael Donadelli & Ivan Gufler, 2024. "Economic and financial integration, capital controls, and risk sharing," Economica, London School of Economics and Political Science, vol. 91(364), pages 1482-1520, October.
    55. Sèna Kimm Gnangnon, 2022. "Export diversification and financial openness," International Economics and Economic Policy, Springer, vol. 19(4), pages 675-717, October.
    56. Jean-François Rouillard, 2015. "International Risk Sharing and Financial Shocks," Cahiers de recherche 15-13, Departement d'économique de l'École de gestion à l'Université de Sherbrooke.
    57. Bai, Ye & Chow, Darien Yan Pang, 2017. "Shanghai-Hong Kong Stock Connect: An analysis of Chinese partial stock market liberalization impact on the local and foreign markets," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 50(C), pages 182-203.
    58. Abbassi, Puriya & Bräuning, Falk & Fecht, Falko & Peydró, José-Luis, 2022. "Cross-border interbank liquidity, crises, and monetary policy," Journal of International Economics, Elsevier, vol. 139(C).
    59. Zhou, Cheng, 2025. "The impact of the belt and road initiative on international consumption risk sharing: A difference-in-differences analysis," International Economics, Elsevier, vol. 181(C).
    60. Rangvid, Jesper & Santa-Clara, Pedro & Schmeling, Maik, 2016. "Capital market integration and consumption risk sharing over the long run," Journal of International Economics, Elsevier, vol. 103(C), pages 27-43.
    61. Rahman, Md. Saifur & Shahari, Farihana, 2017. "The nexus between financial integration and real economy: Solow-growth model concept," Research in International Business and Finance, Elsevier, vol. 42(C), pages 1244-1253.
    62. Md. Saifur Rahman & Farihana Shahari, 2021. "Does the financial cooperation agreement increase the interdependency among ASEAN+3 equity markets? A Markov switching approach," International Economics and Economic Policy, Springer, vol. 18(4), pages 869-899, October.
    63. Pontines, Victor, 2020. "A provincial view of consumption risk sharing in Korea:Asset classes as shock absorbers," Journal of the Japanese and International Economies, Elsevier, vol. 55(C).
    64. Shang-Jin Wei, 2018. "Managing Financial Globalization: Insights from the Recent Literature," Working Papers id:12586, eSocialSciences.
    65. Juan Carlos Hatchondo & Leonardo Martinez & Horacio Sapriza, 2007. "Quantitative models of sovereign default and the threat of financial exclusion," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 93(Sum), pages 251-286.
    66. Atanas Christev & Jacques Melitz, 2011. "EMU, EU, Market Integration and Consumption Smoothing," Working Papers 2011-21, CEPII research center.
    67. Schröder, Marcel, 2019. "Valuation effects and risk sharing during the era of financial globalization," The North American Journal of Economics and Finance, Elsevier, vol. 48(C), pages 467-480.
    68. Clancy, Daragh & Ricci, Lorenzo, 2022. "Economic sentiments and international risk sharing," International Economics, Elsevier, vol. 169(C), pages 208-229.
    69. Luttini, Emiliano Evaristo & Mekonnen, Dawit Kelemework & Mercer-Blackman, Valerie & Sorensen, Bent, 2026. "How Much Do Commodity Exporters Share Risk ?," Policy Research Working Paper Series 11296, The World Bank.
    70. Ms. Emine Boz, 2009. "Sovereign Default, Private Sector Creditors and the IFIs," IMF Working Papers 2009/046, International Monetary Fund.
    71. Park, JungJae, 2017. "Sovereign default and capital accumulation," Journal of International Economics, Elsevier, vol. 106(C), pages 119-133.
    72. Yépez, Carlos A., 2019. "Informality and international business cycles," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 62(C), pages 252-263.
    73. Asdrubali, Pierfederico & Kim, Soyoung & Pericoli, Filippo Maria & Poncela, Pilar, 2023. "Risk sharing channels in OECD countries: A heterogeneous panel VAR approach," Journal of International Money and Finance, Elsevier, vol. 131(C).
    74. Arellano, Cristina & Bai, Yan & Mihalache, Gabriel, 2018. "Default risk, sectoral reallocation, and persistent recessions," Journal of International Economics, Elsevier, vol. 112(C), pages 182-199.
    75. Joanna Tyrowicz, 2009. "When Eastern Labour Markets Enter Western Europe CEECs. Labour Market Institutions upon Euro Zone Accession," Working Papers 2009-03, Faculty of Economic Sciences, University of Warsaw.
    76. Juan Carlos Hatchondo & Leonardo Martinez, 2009. "Long-duration bonds and sovereign defaults," Working Paper 08-02, Federal Reserve Bank of Richmond.
    77. Gilbert Mbara, 2018. "Risk sharing with gradual financial integration: the Visegrád countries and the euro area," Bank i Kredyt, Narodowy Bank Polski, vol. 49(1), pages 17-44.
    78. Enrique G. Mendoza & Vivian Z. Yue, 2011. "A General Equilibrium Model of Sovereign Default and Business Cycles," NBER Working Papers 17151, National Bureau of Economic Research, Inc.
    79. Arellano, Cristina & Bai, Yan & Zhang, Jing, 2012. "Firm dynamics and financial development," Journal of Monetary Economics, Elsevier, vol. 59(6), pages 533-549.
    80. Asdrubali, Pierfederico & Kim, Soyoung & Park, Haerang, 2025. "Asymmetric international risk sharing and the business cycle," Journal of International Money and Finance, Elsevier, vol. 156(C).
    81. Yu, Changhua, 2015. "Evaluating international financial integration in a center-periphery economy," Journal of International Economics, Elsevier, vol. 95(1), pages 129-144.
    82. Suzuki, Yui, 2014. "Financial integration and consumption risk sharing and smoothing," International Review of Economics & Finance, Elsevier, vol. 29(C), pages 585-598.
    83. Nicolas Melissas, 2009. "On Bid Disclosure in OCS Wildcat Auctions," Working Papers 0905, Centro de Investigacion Economica, ITAM.
    84. Nikolai Stähler, 2013. "Recent Developments In Quantitative Models Of Sovereign Default," Journal of Economic Surveys, Wiley Blackwell, vol. 27(4), pages 605-633, September.
    85. Yiannis Vailakis & V. Filipe Martins-da-Rocha, 2016. "Self-enforcing Debt, Reputation, and the Role of Interest Rates," 2016 Meeting Papers 706, Society for Economic Dynamics.
    86. Chen, Kuan-Jen & Chu, Angus C. & Lai, Ching-Chong, 2018. "Home production and small open economy business cycles," Journal of Economic Dynamics and Control, Elsevier, vol. 95(C), pages 110-135.
    87. Daragh Clancy & Lorenzo Ricci, 2019. "Loss aversion, economic sentiments and international consumption smoothing," Working Papers 35, European Stability Mechanism.
    88. Juan Carlos Hatchondo & Leonardo Martinez & Horacio Sapriza, 2006. "Computing business cycles in emerging economy models," Working Paper 06-11, Federal Reserve Bank of Richmond.
    89. Bahadir, Berrak & Lastrapes, William D., 2015. "Emerging market economies and the world interest rate," Journal of International Money and Finance, Elsevier, vol. 58(C), pages 1-28.
    90. Robert P. Flood & Nancy P. Marion & Akito Matsumoto, 2012. "International risk sharing during the globalization era," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 45(2), pages 394-416, May.
    91. Simeon Coleman & Kavita Sirichand, 2014. "International yield curve comovements: impact of the recent financial crisis," Discussion Paper Series 2014_07, Department of Economics, Loughborough University, revised Jul 2014.
    92. Faruk Balli & Eleonora Pierucci & Jian Gan, 2020. "Determinants of risk sharing via exports: trade openness and specialisation," International Journal of Computational Economics and Econometrics, Inderscience Enterprises Ltd, vol. 10(4), pages 380-397.
    93. Sandra Lizarazo & Horacio Sapriza & Javier Bianchi, 2014. "Sovereign Default and Government’s Bailouts," 2014 Meeting Papers 1297, Society for Economic Dynamics.
    94. Pericoli, Filippo & Pierucci, Eleonora & Ventura, Luigi, 2011. "International investment positions and risk sharing: an empirical analysis on the coordinated portfolio investment survey," MPRA Paper 33071, University Library of Munich, Germany.
    95. Balli, Faruk & Pericoli, Filippo M. & Pierucci, Eleonora, 2018. "Globalization and international risk-sharing: The role of social and political integration," European Journal of Political Economy, Elsevier, vol. 55(C), pages 324-345.
    96. Eleonora Pierucci & Luigi Ventura, 2010. "Risk Sharing: A Long Run Issue?," Open Economies Review, Springer, vol. 21(5), pages 705-730, November.
    97. Juan Carlos Hatchondo & Leonardo Martinez, 2012. "Debt dilution and sovereign default risk," Working Paper 10-08, Federal Reserve Bank of Richmond.
    98. Jing Cynthia Wu & Yinxi Xie & Ji Zhang, 2024. "The Role of International Financial Integration in Monetary Policy Transmission," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 72(3), pages 944-990, September.
    99. Grey Gordon & Pablo Guerron-Quintana, 2018. "Dynamics of Investment, Debt, and Default," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 28, pages 71-95, April.
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  28. Yan Bai & Jing Zhang, 2009. "Duration of Sovereign Debt Renegotiation," Working Papers 593, Research Seminar in International Economics, University of Michigan.

    Cited by:

    1. Christoph Trebesch, 2019. "Resolving sovereign debt crises: the role of political risk," Oxford Economic Papers, Oxford University Press, vol. 71(2), pages 421-444.
    2. Aguiar, M. & Chatterjee, S. & Cole, H. & Stangebye, Z., 2016. "Quantitative Models of Sovereign Debt Crises," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1697-1755, Elsevier.
    3. Kartik Anand & Prasanna Gai, 2019. "Pre-emptive sovereign debt restructuring and holdout litigation," Oxford Economic Papers, Oxford University Press, vol. 71(2), pages 364-381.
    4. Engler, Philipp & Grosse Steffen, Christoph, 2015. "Sovereign risk, interbank freezes, and aggregate fluctuations," Working Paper Series 1840, European Central Bank.
    5. Restrepo-Echavarria, Paulina, 2019. "Endogenous borrowing constraints and stagnation in Latin America," Journal of Economic Dynamics and Control, Elsevier, vol. 109(C).
    6. Horn, Sebastian & Mihalyi, David & Nickol, Philipp & Sosa Padilla, César, 2024. "Hidden debt revelations," Ruhr Economic Papers 1101, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    7. Ventura, Jaume & Broner, Fernando & Martín, Alberto & Erce, Aitor, 2013. "Sovereign Debt Markets in Turbulent Times: Creditor Discrimination and Crowding-Out Effects," CEPR Discussion Papers 9761, C.E.P.R. Discussion Papers.
    8. Yaseen Ghulam, 2025. "Examination and predictions of risk tolerance levels and thresholds in sovereigns’ external debt defaults," International Economics and Economic Policy, Springer, vol. 22(2), pages 1-52, May.
    9. Asonuma, Tamon & Niepelt, Dirk & Ranciere, Romain, 2023. "Sovereign bond prices, haircuts and maturity," Journal of International Economics, Elsevier, vol. 140(C).
    10. Franck Moraux & Florina Silaghi, 2014. "Inside debt renegotiation: Optimal debt reduction, timing, and the number of rounds," Post-Print halshs-01024229, HAL.
    11. Fernando Broner & Aitor Erce & Alberto Martin & Jaume Ventura, 2013. "Sovereign Debt Markets in Turbulent Times: Creditor Discrimination and Crowding-Out," IMF Working Papers 2013/270, International Monetary Fund.
    12. Prein, Timm, 2019. "Persistent Unemployment, Sovereign Debt Crises, and the Impact of Haircuts," VfS Annual Conference 2019 (Leipzig): 30 Years after the Fall of the Berlin Wall - Democracy and Market Economy 203654, Verein für Socialpolitik / German Economic Association, revised 2019.
    13. Miller, Marcus & Ghosal, Sayantan & Thampanishvong, Kannika, 2016. "Waiting for a haircut? A bargaining perspective on sovereign debt restructuring," CEPR Discussion Papers 11710, C.E.P.R. Discussion Papers.
    14. Ghulam, Yaseen, 2025. "A further examination of sovereign domestic and external debt defaults," The North American Journal of Economics and Finance, Elsevier, vol. 76(C).
    15. Bai, Ye & Banerji, Sanjay & Wang, Zilong & Zhang, Wenjing, 2024. "Can participation in IMF programs facilitate sovereign debt rescheduling? The role of program size," Journal of International Money and Finance, Elsevier, vol. 144(C).
    16. Aguiar, Mark & Amador, Manuel, 2014. "Sovereign Debt," Handbook of International Economics, in: Gopinath, G. & Helpman, . & Rogoff, K. (ed.), Handbook of International Economics, edition 1, volume 4, chapter 0, pages 647-687, Elsevier.
    17. Tamon Asonuma & Hyungseok Joo, 2021. "Public Capital and Fiscal Constraint in Sovereign Debt Crises," School of Economics Discussion Papers 0621, School of Economics, University of Surrey.
    18. Nada Azmy Elberry & Frank Naert & Stijn Goeminne, 2023. "Optimal public debt composition during debt crises: A review of theoretical literature," Journal of Economic Surveys, Wiley Blackwell, vol. 37(2), pages 351-376, April.
    19. Demian Pouzo & Ignacio Presno, 2015. "Optimal Taxation with Endogenous Default under Incomplete Markets," Papers 1508.03924, arXiv.org, revised May 2016.
    20. Phan, Toan, 2017. "A model of sovereign debt with private information," Journal of Economic Dynamics and Control, Elsevier, vol. 83(C), pages 1-17.
    21. Bulent Guler & Yasin Kursat Onder & Temel Taskin, 2022. "Asymmetric Information and Sovereign Debt Disclosure," CAEPR Working Papers 2022-004 Classification-E, Center for Applied Economics and Policy Research, Department of Economics, Indiana University Bloomington.
    22. Mihalache, Gabriel, 2024. "Comment on “On Wars, Sanctions, and Sovereign Default” by Javier Bianchi and César Sosa-Padilla," Journal of Monetary Economics, Elsevier, vol. 141(C), pages 71-73.
    23. Stefan Avdjiev & Stephan Binder & Ricardo Sousa, 2017. "External debt composition and domestic credit cycles," BIS Working Papers 627, Bank for International Settlements.
    24. Marina Azzimonti & Vincenzo Quadrini, 2019. "International spillovers and `ex-ante' efficient bailouts," 2019 Meeting Papers 318, Society for Economic Dynamics.
    25. Passadore, Juan & Xu, Yu, 2022. "Illiquidity in sovereign debt markets," Journal of International Economics, Elsevier, vol. 137(C).
    26. Mark Aguiar & Manuel Amador, 2013. "Sovereign Debt: A Review," NBER Working Papers 19388, National Bureau of Economic Research, Inc.
    27. Tamon Asonuma & Hyungseok Joo, 2023. "Sovereign Defaults and Debt Restructurings: Public Capital and Fiscal Constraint Tightness," School of Economics Discussion Papers 0323, School of Economics, University of Surrey.
    28. Pablo Guerron-Quintana & Grey Gordon, 2014. "Municipal Bonds, Default, and Migration in General Equilibrium," 2014 Meeting Papers 868, Society for Economic Dynamics.
    29. Aitor Erce & Enrico Mallucci & Mattia Picarelli, 2022. "A journey in the history of sovereign defaults on domestic-law public debt," Working Papers 51, European Stability Mechanism, revised 28 Mar 2022.
    30. David Benjamin & Mark L J Wright, 2019. "Deconstructing delays in sovereign debt restructuring," Oxford Economic Papers, Oxford University Press, vol. 71(2), pages 382-404.
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    32. Marina Azzimonti & Vincenzo Quadrini, 2019. "International Spillovers and Bailouts," Department of Economics Working Papers 19-06, Stony Brook University, Department of Economics.
    33. Alonso-Ortiz, Jorge & Colla, Esteban & Da-Rocha, Jose-Maria, 2014. "Bounding the productivity default shock : Evidence from the The European Sovereign Debt Crisis," MPRA Paper 59617, University Library of Munich, Germany.
    34. Bulent Guler & Yasin K rsat nder & Temel Taskin, 2024. "Sovereign Debt Disclosure," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 24/1094, Ghent University, Faculty of Economics and Business Administration.
    35. Chuku Chuku & Alexandre Kopoin, 2022. "Working Paper 367 - Debt Distress and Recovery Episodes in Africa: Good Policy or Good Luck?," Working Paper Series 2493, African Development Bank.
    36. Adelino, Manuel & Gerardi, Kristopher & Willen, Paul S., 2013. "Why don't Lenders renegotiate more home mortgages? Redefaults, self-cures and securitization," Journal of Monetary Economics, Elsevier, vol. 60(7), pages 835-853.
    37. Juan Passadore, 2015. "Illiquidity in Sovereign Debt Markets," 2015 Meeting Papers 191, Society for Economic Dynamics.
    38. Ghosal, Sayantan & Miller, Marcus & Thampanishvong, Kannika, 2010. "Delay and Haircuts in Sovereign Debt: Recovery and Sustainability," SIRE Discussion Papers 2010-17, Scottish Institute for Research in Economics (SIRE).
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    41. Roettger, Joost, 2019. "Discretionary monetary and fiscal policy with endogenous sovereign risk," Journal of Economic Dynamics and Control, Elsevier, vol. 105(C), pages 44-66.
    42. Luo, Jie & Wang, Cheng, 2018. "Optimal sovereign lending and default," Journal of International Economics, Elsevier, vol. 111(C), pages 190-213.
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  29. Cristina Arellano & Yan Bai & Jing Zhang, 2009. "Firm dynamics and financial development," Staff Report 392, Federal Reserve Bank of Minneapolis.

    Cited by:

    1. Hernan J Moscoso Boedo & Pablo N D’Erasmo, 2009. "Financial Structure, Informality and Development," Virginia Economics Online Papers 374, University of Virginia, Department of Economics.
    2. Kovács, Olivér, 2020. "Gazellák az iparpolitika tükrében, II [Gazelles and industrial policy, Part II]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(2), pages 181-205.
    3. Sylvain Catherine & Thomas Chaney & Zongbo Huang & David Sraer & David Thesmar, 2022. "Quantifying Reduced-Form Evidence on Collateral Constraints," Post-Print hal-03869851, HAL.
    4. Macnamara, Patrick, 2019. "Taxes and financial frictions: Implications for corporate capital structure," Journal of Economic Dynamics and Control, Elsevier, vol. 101(C), pages 82-100.
    5. Varela, Liliana & Salomao, Juliana, 2018. "Exchange Rate Exposure and Firm Dynamics," CEPR Discussion Papers 12654, C.E.P.R. Discussion Papers.
    6. Pablo D'Erasmo & Herman J. Moscoso Boedo & Asli Senkal, 2014. "Misallocation, informality, and human capital: understanding the role of institutions," Working Papers 14-11, Federal Reserve Bank of Philadelphia.
    7. Nicoletta Batini & Paul Levine & Emanuela Lotti & Bo Yang, 2011. "Informality, Frictions and Monetary Policy," School of Economics Discussion Papers 0711, School of Economics, University of Surrey.
    8. Varela, Liliana, 2017. "Sector heterogeneity and credit market imperfections in emerging markets," LSE Research Online Documents on Economics 102061, London School of Economics and Political Science, LSE Library.
    9. Sergio Schmukler & Tatiana Didier, 2013. "The Financing and Growth of Firms in China and India: Evidence from Capital Markets," 2013 Meeting Papers 98, Society for Economic Dynamics.
    10. Cristina Arellano & Yan Bai & Luigi Bocola, 2017. "Sovereign risk and firm heterogeneity," Staff Report 547, Federal Reserve Bank of Minneapolis.
    11. Germaschewski, Yin & Horvath, Jaroslav & Rubini, Loris, 2024. "How important are trend shocks? The role of the debt elasticity of interest rate," Journal of International Economics, Elsevier, vol. 152(C).
    12. Dean Corbae & Pablo D'Erasmo, 2020. "Reorganization or Liquidation: Bankruptcy Choice and Firm Dynamics," Working Papers 769, Federal Reserve Bank of Minneapolis.
    13. Pablo N. D’Erasmo, 2016. "Access to Credit and the Size of the Formal Sector," Economía Journal, The Latin American and Caribbean Economic Association - LACEA, vol. 0(Spring 20), pages 143-199.
    14. Sophie Osotimehin & Francesco Pappada, 2010. "All you Need is Loan. Credit Market Frictions and the Exit of Firms in Recessions," Working Papers 2010-51, Center for Research in Economics and Statistics.
    15. Kartashova, Katya, 2018. "Improving public equity markets? No pain, no gain," Economics Letters, Elsevier, vol. 162(C), pages 69-72.
    16. Satyajit Chatterjee & Burcu Eyigungor, 2022. "The Firm Size-Leverage Relationship and Its Implications for Entry and Business Concentration," Working Papers 22-07, Federal Reserve Bank of Philadelphia.
    17. Goyette, Jonathan & Gallipoli, Giovanni, 2015. "Distortions, efficiency and the size distribution of firms," Journal of Macroeconomics, Elsevier, vol. 45(C), pages 202-221.
    18. Epstein, Brendan & Finkelstein Shapiro, Alan, 2018. "Financial Development, Unemployment Volatility, and Sectoral Dynamics," MPRA Paper 88693, University Library of Munich, Germany.
    19. Epstein, Brendan & Finkelstein Shapiro, Alan, 2017. "Banking and Financial Participation Reforms, Labor Markets, and Financial Shocks," MPRA Paper 88697, University Library of Munich, Germany.
    20. Tatiana Didier & Ross Levine & Sergio L. Schmukler, 2014. "Capital Market Financing, Firm Growth, Firm Size Distribution," NBER Working Papers 20336, National Bureau of Economic Research, Inc.
    21. Kalemli-Özcan, Sebnem & di Giovanni, Julian & Ulu, Mehmet Fatih & Baskaya, Yusuf Soner, 2017. "International Spillovers and Local Credit Cycles," CEPR Discussion Papers 11839, C.E.P.R. Discussion Papers.
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    23. Bayar, Yilmaz & Sakar, Emre, 2021. "Impact of Domestic Public Borrowing on Financial Development: Evidence from EU Transition Economies," Asian Journal of Applied Economics, Kasetsart University, Center for Applied Economics Research, vol. 28(01).
    24. Gita Gopinath & Şebnem Kalemli-Özcan & Loukas Karabarbounis & Carolina Villegas-Sanchez, 2017. "Capital Allocation and Productivity in South Europe," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 132(4), pages 1915-1967.
    25. Zi-Yi Guo & Yangxiaoteng Luo, 2017. "Credit Constraint Exports in Countries with Different Degrees of Contract Enforcement," Business and Economic Research, Macrothink Institute, vol. 7(1), pages 227-241, June.
    26. Vikash Gautam & Rajendra Vaidya, 2014. "Growth and finance constraints in Indian manufacturing firms," Applied Financial Economics, Taylor & Francis Journals, vol. 24(1), pages 31-40, January.
    27. David Kohn & Fernando Leibovici & Michal Szkup, 2021. "Financial Frictions and International Trade," Working Papers 2021-009, Federal Reserve Bank of St. Louis.
    28. Xu Tian & Dan Lu & Yan Bai, 2016. "Do Financial Frictions Explain Chinese Firms’ Saving and Misallocation," 2016 Meeting Papers 998, Society for Economic Dynamics.
    29. David Kohn & Fernando Leibovici & Michal Szkup, 2014. "Financial frictions and new exporter dynamics," Department of Economics Working Papers 2014_4, Universidad Torcuato Di Tella.
    30. Wang, Kun Tracy & Wu, Yue & Sun, Aonan, 2021. "Acquisitions and the cost of debt: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 78(C).
    31. Eric W. Bond & James Tybout & Hale Utar, 2015. "Credit Rationing, Risk Aversion, And Industrial Evolution In Developing Countries," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 56(3), pages 695-722, August.
    32. Satyajit Chatterjee & Burcu Eyigungor, 2019. "The Firm Size and Leverage Relationship and Its Implications for Entry and Concentration in a Low Interest Rate World," 2019 Meeting Papers 1041, Society for Economic Dynamics.
    33. Huiyu Li, 2015. "Leverage and Productivity," Discussion Papers 15-015, Stanford Institute for Economic Policy Research.
    34. Vladislav Spitsin & Darko B. Vuković & Marina Ryzhkova & Victoria Leonova, 2024. "Pathways to Prosperity: Navigating Post-Stagnation Growth and Revitalizing Business," Economies, MDPI, vol. 12(3), pages 1-26, February.
    35. Jan Bena & Peter Ondko, 2009. "Financial Development and Allocation of External Finance," CERGE-EI Working Papers wp398, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    36. Guariglia, Alessandra & Tsoukalas, John & Tsoukas, Serafeim, 2012. "Investment, irreversibility, and financing constraints: Evidence from a panel of transition economies," Economics Letters, Elsevier, vol. 117(3), pages 582-584.
    37. Heidi Quah & Janto Haman & Dharmendra Naidu, 2021. "The effect of stock liquidity on investment efficiency under financing constraints and asymmetric information: Evidence from the United States," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(S1), pages 2109-2150, April.
    38. Satyajit Chatterjee & Burcu Eyigungor, 2020. "The Firm Size and Leverage Relationship and Its Implications for Entry and Business Concentration," Working Papers 20-29, Federal Reserve Bank of Philadelphia.
    39. Chahine, Salim & Chidambaran, N.K., 2023. "Do sovereign-bond issuers learn from peers?," Journal of Financial Stability, Elsevier, vol. 67(C).
    40. Xiaoyang Zhu, 2023. "Financial development and declining market dynamics: Another dark side of “too much finance”?," Empirical Economics, Springer, vol. 65(1), pages 275-309, July.
    41. Cristina Arellano & Yan Bai & Luigi Bocola, 2017. "Sovereign Default Risk and Firm Heterogeneity," NBER Working Papers 23314, National Bureau of Economic Research, Inc.
    42. Kwan Yong Lee, 2023. "Financial dependence and exports: Entrants or incumbents?," Southern Economic Journal, John Wiley & Sons, vol. 89(4), pages 1102-1137, April.
    43. Bena, Jan & Ortiz-Molina, Hernán, 2013. "Pyramidal ownership and the creation of new firms," Journal of Financial Economics, Elsevier, vol. 108(3), pages 798-821.
    44. Didier, Tatiana & Levine, Ross & Schmukler, Sergio L., 2016. "Capital market financing, firm growth, and firm size distribution," ESRB Working Paper Series 4, European Systemic Risk Board.
    45. Gao, Jieying & Qin, Qi & Zhou, Shengjie, 2025. "Spillover effects of US economic policy uncertainty on emerging markets: Evidence from transnational supply chains," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 100(C).
    46. Belinda Tracey, 2019. "The real effects of zombie lending in Europe," Bank of England working papers 783, Bank of England.
    47. Deng, Minjie & Fang, Min, 2022. "Debt maturity heterogeneity and investment responses to monetary policy," European Economic Review, Elsevier, vol. 144(C).
    48. Yan Bai & Dan Lu & Xu Tian, 2018. "Do Financial Frictions Explain Chinese Firms’ Saving and Misallocation?," NBER Working Papers 24436, National Bureau of Economic Research, Inc.
    49. Murmann Johann Peter & Korn Jenny & Worch Hagen, 2014. "How Fast Can Firms Grow?," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 234(2-3), pages 210-233, April.
    50. Cotter, Christopher & Rousseau, Peter L. & Vu, Nam T., 2021. "Electrification, telecommunications, and the finance-growth nexus: Evidence from firm-level data," Energy Economics, Elsevier, vol. 94(C).
    51. Cristina Arellano & Ananth Ramanarayanan, 2008. "Default and the maturity structure in sovereign bonds," Staff Report 410, Federal Reserve Bank of Minneapolis.
    52. Fernanda Cigainski Lisbinski & Heloisa Lee Burnquist, 2024. "Institutions and financial development: Comparative analysis of developed and developing economies," EconomiA, Emerald Group Publishing Limited, vol. 25(2), pages 347-376, May.
    53. Brückner, Markus, 2010. "Financial determinants of firm dynamics: Evidence from a European panel," Economics Letters, Elsevier, vol. 107(1), pages 63-65, April.
    54. Alan Finkelstein Shapiro & Brendan Epstein, 2018. "Banking and Financial Access Reforms, Labor Markets, and Financial Shocks," 2018 Meeting Papers 2, Society for Economic Dynamics.
    55. Kovalenko, Tim, 2021. "Uncertainty shocks and employment fluctuations in Germany: The role of establishment size," Discussion Papers 119, Friedrich-Alexander University Erlangen-Nuremberg, Chair of Labour and Regional Economics.
    56. Bernardo Morais, 2015. "Risk, Financial Development and Firm Dynamics," International Finance Discussion Papers 1134, Board of Governors of the Federal Reserve System (U.S.).
    57. Sorin Gabriel Anton, 2019. "Leverage and firm growth: an empirical investigation of gazelles from emerging Europe," International Entrepreneurship and Management Journal, Springer, vol. 15(1), pages 209-232, March.
    58. Mai Huong Giang & Bui Huy Trung & Yuichiro Yoshida & Tran Dang Xuan & Mai Thanh Que, 2019. "The Causal Effect of Access to Finance on Productivity of Small and Medium Enterprises in Vietnam," Sustainability, MDPI, vol. 11(19), pages 1-19, October.
    59. Haman, Janto & Chalmers, Keryn & Fang, Victor, 2017. "IPO lockups, long run returns, and growth opportunities," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 49(C), pages 184-199.
    60. Phoebe Tian, 2024. "The Role of Long-Term Contracting in Business Lending," Staff Working Papers 24-2, Bank of Canada.
    61. Hengjie Ai & Dana Kiku & Rui Li & Jincheng Tong, 2021. "A Unified Model of Firm Dynamics with Limited Commitment and Assortative Matching," Journal of Finance, American Finance Association, vol. 76(1), pages 317-356, February.
    62. Xiangyuan Meng & Haoge Guo & Jie Li, 2023. "Economic policy uncertainty and corporate investment: evidence from China," Economic Change and Restructuring, Springer, vol. 56(6), pages 4491-4529, December.
    63. Grechyna, Daryna, 2018. "Firm size, bank size, and financial development," Journal of Economic Dynamics and Control, Elsevier, vol. 97(C), pages 19-37.
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    65. Maria D. Tito & Ruoying Wang, 2017. "Exporting and Frictions in Input Markets : Evidence from Chinese Data," Finance and Economics Discussion Series 2017-077, Board of Governors of the Federal Reserve System (U.S.).
    66. Anil Rupasingha & Kyungsoon Wang, 2017. "Access to capital and small business growth: evidence from CRA loans data," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 59(1), pages 15-41, July.
    67. Hernan J Moscoso Boedo & Asli Senkal & Pablo D'Erasmo, 2011. "Misallocation, Informality and Human Capital," 2011 Meeting Papers 881, Society for Economic Dynamics.
    68. Thomas Grjebine & Urzula Szczerbowicz & Fabien Tripier, 2017. "Corporate Debt Structure and Economic Recoveries," Working papers 646, Banque de France.
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    4. Bassetto, Marco & Cui, Wei, 2018. "The fiscal theory of the price level in a world of low interest rates," Journal of Economic Dynamics and Control, Elsevier, vol. 89(C), pages 5-22.
    5. Shang, Zezhong, 2025. "How to motivate clean production transformation?—a theoretical framework by game theory approach," Energy Economics, Elsevier, vol. 146(C).
    6. Karel Brůna & Jiří Pour, 2023. "Population aging and structural over/underinvestment," Economic Change and Restructuring, Springer, vol. 56(4), pages 2339-2383, August.
    7. Jiří Pour, 2020. "Analýza relativní přeinvestovanosti či podinvestovanosti ekonomik na panelových datech 122 zemí světa [Analysis of Relative Over-investment and Under-investment of Economies on Panel Data for 122 Countries of the World]," Politická ekonomie, Prague University of Economics and Business, vol. 2020(3), pages 290-321.

  11. Levchenko, Andrei A. & Zhang, Jing, 2016. "The evolution of comparative advantage: Measurement and welfare implications," Journal of Monetary Economics, Elsevier, vol. 78(C), pages 96-111.
    See citations under working paper version above.
  12. Kim, Yun Jung & Tesar, Linda L. & Zhang, Jing, 2015. "The impact of foreign liabilities on small firms: Firm-level evidence from the Korean crisis," Journal of International Economics, Elsevier, vol. 97(2), pages 209-230.
    See citations under working paper version above.
  13. Julian di Giovanni & Andrei A. Levchenko & Jing Zhang, 2014. "The Global Welfare Impact of China: Trade Integration and Technological Change," American Economic Journal: Macroeconomics, American Economic Association, vol. 6(3), pages 153-183, July.
    See citations under working paper version above.
  14. Levchenko, Andrei A. & Zhang, Jing, 2014. "Ricardian productivity differences and the gains from trade," European Economic Review, Elsevier, vol. 65(C), pages 45-65.
    See citations under working paper version above.
  15. Uy, Timothy & Yi, Kei-Mu & Zhang, Jing, 2013. "Structural change in an open economy," Journal of Monetary Economics, Elsevier, vol. 60(6), pages 667-682.
    See citations under working paper version above.
  16. Andrei A Levchenko & Jing Zhang, 2013. "The Global Labor Market Impact of Emerging Giants: A Quantitative Assessment," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 61(3), pages 479-519, August.
    See citations under working paper version above.
  17. Arellano, Cristina & Bai, Yan & Zhang, Jing, 2012. "Firm dynamics and financial development," Journal of Monetary Economics, Elsevier, vol. 59(6), pages 533-549.
    See citations under working paper version above.
  18. Bai, Yan & Zhang, Jing, 2012. "Financial integration and international risk sharing," Journal of International Economics, Elsevier, vol. 86(1), pages 17-32.
    See citations under working paper version above.
  19. Bai, Yan & Zhang, Jing, 2012. "Duration of sovereign debt renegotiation," Journal of International Economics, Elsevier, vol. 86(2), pages 252-268.
    See citations under working paper version above.
  20. Andrei A. Levchenko & Jing Zhang, 2012. "Comparative advantage and the welfare impact of European integration [General equilibrium analysis of the Eaton–Kortum model of international trade]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 27(72), pages 567-602.
    See citations under working paper version above.
  21. Kim, Yun Jung & Zhang, Jing, 2012. "Decentralized borrowing and centralized default," Journal of International Economics, Elsevier, vol. 88(1), pages 121-133.
    See citations under working paper version above.
  22. Yan Bai & Jing Zhang, 2010. "Solving the Feldstein-Horioka Puzzle With Financial Frictions," Econometrica, Econometric Society, vol. 78(2), pages 603-632, March.

    Cited by:

    1. Manuchehr Irandoust, 2019. "Saving and investment causality: implications for financial integration in transition countries of Eastern Europe," International Economics and Economic Policy, Springer, vol. 16(2), pages 397-416, April.
    2. Harutaka Takahashi, 2020. "A dynamic theory of the Feldstein-Horioka puzzle and financial frictions: Re-estimation of the saving retention coefficient," Discussion Papers 2007, Graduate School of Economics, Kobe University.
    3. François Le Grand & Xavier Ragot, 2017. "Sovereign Default and Liquidity: the Case for a World Safe Asset," Working Papers hal-03471758, HAL.
    4. Georgy Kartashov, 2007. "Economic growth and institutional quality in resource oriented countries (in Russian)," Quantile, Quantile, issue 2, pages 141-157, March.
    5. Durdu, C. Bora & Nunes, Ricardo & Sapriza, Horacio, 2013. "News and sovereign default risk in small open economies," Journal of International Economics, Elsevier, vol. 91(1), pages 1-17.
    6. Ma, Wei & Li, Haiqi, 2016. "Time-varying saving–investment relationship and the Feldstein–Horioka puzzle," Economic Modelling, Elsevier, vol. 53(C), pages 166-178.
    7. Ricardo Reyes-Heroles, 2017. "The Role of Trade Costs in the Surge of Trade Imbalances," 2017 Meeting Papers 212, Society for Economic Dynamics.
    8. Coeurdacier, Nicolas & Rey, Hélène & Winant, Pablo, 2020. "Financial integration and growth in a risky world," Journal of Monetary Economics, Elsevier, vol. 112(C), pages 1-21.
    9. Drakos, Anastassios A. & Kouretas, Georgios P. & Stavroyiannis, Stavros & Zarangas, Leonidas, 2017. "Is the Feldstein-Horioka puzzle still with us? National saving-investment dynamics and international capital mobility: A panel data analysis across EU member countries," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 47(C), pages 76-88.
    10. Jacek Rothert & Jacob Short, 2014. "Non-Traded Goods and Capital Flows to Developing Countries," Departmental Working Papers 47, United States Naval Academy Department of Economics.
    11. Carré, Sylvain & Cohen, Daniel & Villemot, Sébastien, 2019. "The sources of sovereign risk: a calibration based on Lévy stochastic processes," Journal of International Economics, Elsevier, vol. 118(C), pages 31-43.
    12. Rebelo, Sérgio & Wang, Neng & Yang, Jinqiang, 2018. "Rare Disasters, Financial Development, and Sovereign Debt," CEPR Discussion Papers 13202, C.E.P.R. Discussion Papers.
    13. Jose Perez-Montiel & Carles Manera Erbina, 2019. "Investment Sustained by Consumption: A Linear and Nonlinear Time Series Analysis," Sustainability, MDPI, vol. 11(16), pages 1-15, August.
    14. Yan Bai & Jing Zhang, 2009. "Duration of Sovereign Debt Renegotiation," Working Papers 593, Research Seminar in International Economics, University of Michigan.
    15. Jaume Ventura & Fernando Broner, 2015. "Rethinking the Effects of Financial Liberalization," Working Papers 509, Barcelona School of Economics.
    16. Restrepo-Echavarria, Paulina, 2019. "Endogenous borrowing constraints and stagnation in Latin America," Journal of Economic Dynamics and Control, Elsevier, vol. 109(C).
    17. D’Erasmo, Pablo & Mendoza, Enrique G., 2021. "History remembered: Optimal sovereign default on domestic and external debt," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 969-989.
    18. But, Boris & Morley, Bruce, 2017. "The Feldstein-Horioka puzzle and capital mobility: The role of the recent financial crisis," Economic Systems, Elsevier, vol. 41(1), pages 139-150.
    19. V. Filipe Martins-da-Rocha & Toan Phan & Yiannis Vailakis, 2019. "Debt Limits and Credit Bubbles in General Equilibrium," Working Paper 19-19, Federal Reserve Bank of Richmond.
    20. Epstein, Brendan & Mukherjee, Rahul & Ramnath, Shanthi, 2016. "Taxes and international risk sharing," Journal of International Economics, Elsevier, vol. 102(C), pages 310-326.
    21. Margarita Katsimi & Gylfi Zoega, 2016. "European Integration and the Feldstein–Horioka Puzzle," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 78(6), pages 834-852, December.
    22. Binlei Gong, 2020. "New Growth Accounting," American Journal of Agricultural Economics, John Wiley & Sons, vol. 102(2), pages 641-661, March.
    23. Castro, Rui & Koumtingué, Nelnan, 2014. "On the individual optimality of economic integration," Journal of Monetary Economics, Elsevier, vol. 68(C), pages 115-135.
    24. Yun Jung Kim & Jing Zhang, 2020. "International Capital Flows: Private Versus Public Flows in Developing and Developed Countries," Working Paper Series WP-2020-27, Federal Reserve Bank of Chicago.
    25. Alessandria, George & Bai, Yan & Deng, Minjie, 2020. "Migration and sovereign default risk," Journal of Monetary Economics, Elsevier, vol. 113(C), pages 1-22.
    26. Yongsung Chang & Sun-Bin Kim & Jaewoo Lee, 2009. "Accounting for Global Dispersion of Current Accounts," RCER Working Papers 548, University of Rochester - Center for Economic Research (RCER).
    27. Eaton, Jonathan & Kortum, Samuel & Neiman, Brent, 2016. "Obstfeld and Rogoff׳s international macro puzzles: a quantitative assessment," Journal of Economic Dynamics and Control, Elsevier, vol. 72(C), pages 5-23.
    28. Vasudeva N. R. Murthy & Natalya Ketenci, 2020. "Capital mobility in Latin American and Caribbean countries: new evidence from dynamic common correlated effects panel data modeling," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 6(1), pages 1-17, December.
    29. Mu-Shun Wang, 2013. "An Investigation of the Feldstein–Horioka Puzzle for the Association of Southeast Asian Nations Economies," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 46(4), pages /, December.
    30. Christophe Tavéra & Jean-Christophe Poutineau & Jean-Sébastien Pentecôte & Isabelle Cadoret-David & Arthur Charpentier & Chantal Guéguen & Marilyne Huchet & Julien Licheron & Guillaume L'Oeillet & Nat, 2015. "The "Mother of All Puzzles" at thirty: a meta-analysis," Post-Print halshs-01112088, HAL.
    31. Lee E. Ohanian & Paulina Restrepo-Echavarria & Diana Van Patten & Mark L. J. Wright, 2019. "Bretton Woods and the Reconstruction of Europe," Working Papers 2019-30, Federal Reserve Bank of St. Louis.
    32. Islamaj,Ergys & Kose,Ayhan, 2021. "What Types of Capital Flows Help Improve International Risk Sharing ?," Policy Research Working Paper Series 9846, The World Bank.
    33. Hwang, Sun Ho & Kim, Yun Jung, 2018. "Capital mobility in OECD countries: A multi-level factor approach to saving–investment correlations," Economic Modelling, Elsevier, vol. 69(C), pages 150-159.
    34. Mariam Camarero & Juan Sapena & Cecilio Tamarit, 2018. "FH Puzzle in the Eurozone: A time-varying analysis Preliminary Draft," Working Papers 1813, Department of Applied Economics II, Universidad de Valencia.
    35. JungJae Park & Charles Engel, 2017. "Debauchery and Original Sin: The Currency Composition of Sovereign Debt," 2017 Meeting Papers 1558, Society for Economic Dynamics.
    36. Busl, Claudia & Iliewa, Zwetelina & Jokisch, Sabine & Kappler, Marcus & Roscher, Thomas & Schindler, Felix & Schleer, Frauke, 2012. "Endbericht an das Bundesministerium der Finanzen zum Forschungsauftrag fe 11/11: "Sparen und Investieren vor dem Hintergrund des demografischen Wandels"," ZEW Expertises, ZEW - Leibniz Centre for European Economic Research, number 110554.
    37. Noam Gruber, 2023. "A relative answer to the growth–saving puzzle," International Finance, Wiley Blackwell, vol. 26(2), pages 139-171, August.
    38. Michael Sposi & Kei-Mu Yi & Jing Zhang, 2021. "Trade Integration, Global Value Chains, and Capital Accumulation," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 69(3), pages 505-539, September.
    39. Niu, Yingjie & Tang, Zian & Yang, Jinqiang, 2025. "Robust p theory of taxes and debt management," Journal of Economic Dynamics and Control, Elsevier, vol. 178(C).
    40. Claudio Borio & Piti Disyatat, 2016. "Capital Flows and the Current Account: Taking Financing (More) Seriously," PIER Discussion Papers 14, Puey Ungphakorn Institute for Economic Research.
    41. Erauskin, Iñaki, 2015. "Savings, the size of the net foreign asset position, and the dynamics of current accounts," International Review of Economics & Finance, Elsevier, vol. 39(C), pages 353-370.
    42. Dilem Yıldırım & Onur A. Koska, 2018. "Puzzling out the Feldstein-Horioka Paradox for Turkey by a Time-Varying Parameter Approach," ERC Working Papers 1808, ERC - Economic Research Center, Middle East Technical University, revised Apr 2018.
    43. Harutaka Takahashi, 2023. "Re-estimation of the savings retention coefficient in OECD countries: a new measure of home country bias," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 12(1), pages 1-19, December.
    44. Polbin Andrey & Rybak Konstantin & Zubarev Andrey, 2020. "Capital mobility in commodity-exporting economies," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 24(5), pages 1-10, December.
    45. Chang, Yanqin & Smith, R. Todd, 2014. "Feldstein–Horioka puzzles," European Economic Review, Elsevier, vol. 72(C), pages 98-112.
    46. xavier Ragot & Francois Le Grand, 2018. "Sovereign Default and Liquidity: The Case for a World Safe," 2018 Meeting Papers 889, Society for Economic Dynamics.
    47. Yunus Aksoy & Tobias Grasl & Ron P. Smith, 2012. "The Economic Impact of Demographic Structure in OECD Countries," CESifo Working Paper Series 3960, CESifo.
    48. Sposi, Michael, 2022. "Demographics and the evolution of global imbalances," Journal of Monetary Economics, Elsevier, vol. 126(C), pages 1-14.
    49. Bernardo Guimaraes & Lucas Tumkus, 2020. "On the costs of sovereign default in quantitative models," Discussion Papers 2021, Centre for Macroeconomics (CFM).
    50. Rothert, Jacek, 2016. "On the savings wedge in international capital flows," Economics Letters, Elsevier, vol. 145(C), pages 126-129.
    51. Kim, Yun Jung & Zhang, Jing, 2012. "Decentralized borrowing and centralized default," Journal of International Economics, Elsevier, vol. 88(1), pages 121-133.
    52. Arellano, Cristina & Bai, Yan & Zhang, Jing, 2012. "Firm dynamics and financial development," Journal of Monetary Economics, Elsevier, vol. 59(6), pages 533-549.
    53. Joseph Steinberg, 2018. "International Portfolio Diversification and the Structure of Global Production," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 29, pages 195-219, July.
    54. Debarsy, Nicolas & Ertur, Cem, 2010. "Testing for spatial autocorrelation in a fixed effects panel data model," Regional Science and Urban Economics, Elsevier, vol. 40(6), pages 453-470, November.
    55. Yu, Changhua, 2015. "Evaluating international financial integration in a center-periphery economy," Journal of International Economics, Elsevier, vol. 95(1), pages 129-144.
    56. Bai, Yan & Zhang, Jing, 2012. "Financial integration and international risk sharing," Journal of International Economics, Elsevier, vol. 86(1), pages 17-32.
    57. Chu, Kam Hon, 2012. "The Feldstein-Horioka Puzzle and Spurious Ratio Correlation," Journal of International Money and Finance, Elsevier, vol. 31(2), pages 292-309.
    58. Yiannis Vailakis & V. Filipe Martins-da-Rocha, 2016. "Self-enforcing Debt, Reputation, and the Role of Interest Rates," 2016 Meeting Papers 706, Society for Economic Dynamics.
    59. Zhigang Feng & Jianjun Miao & Adrian Peralta‐Alva & Manuel S. Santos, 2014. "Numerical Simulation Of Nonoptimal Dynamic Equilibrium Models," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 55(1), pages 83-110, February.
    60. Chen, Kuan-Jen & Chu, Angus C. & Lai, Ching-Chong, 2018. "Home production and small open economy business cycles," Journal of Economic Dynamics and Control, Elsevier, vol. 95(C), pages 110-135.
    61. Lee E. Ohanian & Paulina Restrepo-Echavarria & Mark L. J. Wright, 2018. "Bad Investments and Missed Opportunities? Postwar Capital Flows to Asia and Latin America," Staff Report 563, Federal Reserve Bank of Minneapolis.
    62. Bahadir, Berrak & Lastrapes, William D., 2015. "Emerging market economies and the world interest rate," Journal of International Money and Finance, Elsevier, vol. 58(C), pages 1-28.
    63. Jacek Rothert & Jacob Short, 2023. "Non-Traded Goods, Factor Markets Frictions, and International Capital Flows," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 48, pages 158-177, April.
    64. Makin, Anthony J. & Ratnasiri, Shyama, 2023. "New estimates of international capital mobility for select OECD economies," International Review of Economics & Finance, Elsevier, vol. 86(C), pages 127-138.
    65. Demian Pouzo & Ignacio Presno, 2020. "Optimal Taxation with Endogenous Default under Incomplete Markets," International Finance Discussion Papers 1297, Board of Governors of the Federal Reserve System (U.S.).
    66. Victor Filipe Martins da Rocha & Yiannis Vailakis, 2017. "On the Sovereign Debt Paradox," Post-Print hal-01097118, HAL.
    67. Martins, António, 2024. "Macro fundamentals and the resurgence of the Feldstein–Horioka puzzle in Europe," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 93(C).
    68. Clemens Struck & Adnan Velic, 2016. "Competing Gains From Trade," Trinity Economics Papers tep1116, Trinity College Dublin, Department of Economics, revised Apr 2018.
    69. Grey Gordon & Pablo Guerron-Quintana, 2018. "Dynamics of Investment, Debt, and Default," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 28, pages 71-95, April.
    70. Weiping Li & Guotai Chi & Lan Wu, 2015. "Empirical Study on Saving and Investment Relation in China: 1952¡ª2011," Review of Economics & Finance, Better Advances Press, Canada, vol. 5, pages 81-99, May.
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    72. Lixin Tang, 2014. "Top Income Inequality, Aggregate Saving and the Gains from Trade," 2014 Papers pta581, Job Market Papers.
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Chapters

  1. D’Erasmo, P. & Mendoza, E.G. & Zhang, J., 2016. "What is a Sustainable Public Debt?," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 2493-2597, Elsevier.
    See citations under working paper version above.Sorry, no citations of chapters recorded.
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