刘岩 – 宏观&金融

YAN LIU – MACRO & FINANCE

Macro reading group 2022

时间地点：周二下午2点半在金融系会议室（B255）进行；5月9日开始改为每周一下午2点半，地点不变

组织协调：刘岩，王胜，熊琛，杨中超——报名请联系刘岩

参与成员：感兴趣的老师以及博士、硕士与本科生

规则：参与成员从文献列表中挑选论文并提前准备，每次安排一篇论文的汇报，需提前准备PPT [ 参考该页置顶提示 link ]

  1. 刘岩，3月22日，The Driving Forces of China’s Business Cycles: Evidence from an Estimated DSGE Model with Housing and Banking, CER, 2022
  2. 肖雅慧，4月12日，Carvalho, Lee, and Park (2021, AEJ Macro)
  3. 赵浩权，4月19日，Christiano, Motto, and Rostagno (2014, AER)
  4. 王浩安，4月26日，Chang, Liu, and Spiegel (2015, JME)
  5. 肖泽亮，5月9日，Gertler and Kiyotaki (2015, AER)
  6. 周上尧，5月16日，“中国影子银行的成因、结构及系统性风险”，《经济研究》，2021年第7期
  7. 刘岩，5月23日，Cochrane (2022, RED)
  8. 刘熙莹，5月30日，Beyond Monopolistic Competition

阅读文献列表：

  • [B]金融摩擦
    1. Brunnermeier, M. K., & Sannikov, Y. (2014). A Macroeconomic Model with a Financial Sector. American Economic Review, 104, 379–421.
    2. Chang, C., Liu, Z., Spiegel, M. M., & Zhang, J. (2019). Reserve Requirements and Optimal Chinese Stabilization Policy. Journal of Monetary Economics, 103, 33–51.
    3. Christiano, L. J., Motto, R., & Rostagno, M. (2014). Risk Shocks. American Economic Review, 104, 27–65.
    4. Gertler, M., & Kiyotaki, N. (2015). Banking, Liquidity, and Bank Runs in an Infinite Horizon Economy. American Economic Review, 105, 2011–2043.
  • [C]资本管制
    1. Chang, C., Liu, Z., & Spiegel, M. M. (2015). Capital Controls and Optimal Chinese Monetary Policy. Journal of Monetary Economics, 74, 1–15.
    2. Choi, J. H. (2020). Capital Controls and Foreign Exchange Market Intervention. Journal of International Money and Finance, 101, 102098. 
    3. Prasad, N. (2018). Sterilized Interventions and Capital Controls. Journal of International Money and Finance, 88, 101–121.
  • [D]企业融资（实证为主）
    1. Kermani, A., & Ma, Y. (2020). Two tales of debt (No. w27641). National Bureau of Economic Research.
    2. Lian, C., & Ma, Y. (2021). Anatomy of Corporate Borrowing Constraints. Quarterly Journal of Economics, 136, 229–291.
    3. Ma, Y., & Scheinkman, J. A. (2020). Going-concern debt of financial intermediaries (No. w28088). National Bureau of Economic Research.
  • [F]价格/通胀的财政理论
    1. Cochrane, J. H. (2021). The Fiscal Roots of Inflation. Review of Economic Dynamics, forthcoming.
    2. Sargent, T. J. (2012). Nobel Lecture: United States Then, Europe Now. Journal of Political Economy, 120, 1–40.
  • [P]生产网络
    1. Carvalho C, Lee J W, Park W Y. Sectoral price facts in a sticky-price model. American Economic Journal: Macroeconomics, 2021, 13(1): 216-56.
    2. Pasten E, Schoenle R, Weber M. The propagation of monetary policy shocks in a heterogeneous production economy. Journal of Monetary Economics, 2020, 116: 1-22.
  • [O]人口结构、老龄化
    1. Basso H S, Rachedi O. The young, the old, and the government: Demographics and fiscal multipliers. American Economic Journal: Macroeconomics, 2021, 13(4): 110-41.
    2. Carvalho C, Ferrero A, Nechio F. Demographics and real interest rates: Inspecting the mechanism. European Economic Review, 2016, 88: 208-226.
  • [T]技术进步
    1. Anzoategui D, Comin D, Gertler M, et al. Endogenous technology adoption and R&D as sources of business cycle persistence. American Economic Journal: Macroeconomics, 2019, 11(3): 67-110.
    2. Bianchi F, Kung H, Morales G. Growth, slowdowns, and recoveries. Journal of Monetary Economics, 2019, 101: 47-63.