Senior Fellows/Fellows

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Senior Fellows/Fellows, Pandemic

Internet Access and its Implications for Productivity, Inequality, and Resilience

Steven J. DAVIS, Nicholas A. BLOOM, Jose Maria BARRERO
About one-fifth of paid workdays will be supplied from home in the post-pandemic economy, and more than one-fourth on an earnings-weighted basis. In view of this projection, we consider some implications of home internet access quality, exploiting data from the new Survey of Working Arrangements and...
Keywords: Internet access, productivity, COVID-19, working from home, remote work, earnings inequality, subjective well-being, economic resilience
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Webinar Series

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Capital Market Development: China and Asia

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Sep 2022

Internationalizing Like China

Jesse SCHREGER, Christopher CLAYTON, Amanda DOS SANTOS, Matteo MAGGIORI
We empirically characterize how China is internationalizing the Renminbi by selectively opening up its domestic bond market to foreign investors and propose a dynamic reputation model to explain this internationalization strategy. The Chinese government deliberately controlled the entry of foreign i...
Keywords: International Currency, Reserve Currency Competition, Exorbitant Privilege, Safe Assets, Reputation,
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Annual Conference

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International Macroeconomics, Money & Banking, Senior Fellows/Fellows

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May 2016

International Transmissions of Monetary Shocks: Between a Trilemma and a Dilemma

Shang-Jin WEI, Xuehui HAN
This paper re-examines international transmissions of monetary policy shocks from advanced economies to emerging market economies. In terms of methodologies, it combines three novel features. First, it separates co-movement in monetary policies due to common shocks from spillovers of monetary polici...
Keywords: Interest rate shocks, Fixed exchange rate, Flexible exchange rate, dilemma, trilemma, Capital flow management
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Commentaries

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Senior Fellows/Fellows, 2020, Pandemic

International Trade Has Suffered a One-Two Punch. Can it Recover After COVID-19?

Davin CHOR
At the start of 2020, international trade was already under a protectionist cloud. Rising trade tensions between the US and the rest of the world, particularly China, had been in the economic headlines for three years, with US imports from China shrinking by a dramatic 17.7% between 2018–2019. Des...
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Annual Conference

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Corporate Finance

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May 2015

International Liquidity Shocks, the Real Economy, and Social Unrest: China, 1931-1935

Alberto MANCONI, Fabio BRAGGION, Haikun ZHU
What are the social consequences of liquidity shocks? We answer this question relying on a natural experiment from 1930s China, where the money supply contracted as a consequence of the 1933 US Silver Purchase program. Using a novel, hand-collected data set of loan contracts to individual Chinese fi...
Keywords: Silver Purchase program, bank liquidity, social unrest
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