Webinar Series

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Innovation, Productivity and Challenges in the Digital Era: Asia and Beyond

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Nov 2021

Data-intensive Innovation and the State: Evidence from AI Firms in China

Martin BERAJA, David Y. YANG, Noam YUCHTMAN
Developing AI technology requires data. In many domains, government data far exceeds in magnitude and scope data collected by the private sector, and AI firms often gain access to such data when providing services to the state. We argue that such access can stimulate commercial AI innovation in part...
Keywords: AI, facial recognition, government data, innnovation, policies
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Webinar Series

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Capital Market Development: China and Asia

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Sep 2021

Data versus Collateral

Leonardo GAMBACORTA, Yiping HUANG, Zhenhua LI, Shu CHEN
The use of massive amounts of data by large technology firms (big techs) to assess firms’ creditworthiness could reduce the need for collateral in solving asymmetric information problems in credit markets. Using a unique dataset of more than 2 million Chinese firms that received credit from both a...
Keywords: asymmetric information, Banks, big data, big tech, Collateral, credit markets
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Webinar Series

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Innovation, Productivity and Challenges in the Digital Era: Asia and Beyond

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Sep 2022

Data Privacy and Digital Demand

Wei XIONG, Long CHEN, Yadong HUANG, Shumiao OUYANG
We combine survey and behavioral data to analyze consumers’ data-sharing choices in a realistic setting in which they exchange personal data for digital services. We find that respondents with stronger privacy concerns authorize more, rather than less, data sharing, confirming the data privacy par...
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Senior Fellows/Fellows

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Senior Fellows/Fellows, 2017

Currency Wars-Unconventional Monetary Policy Does Not Stimulate Exports

Andrew K. ROSE
I investigate whether countries that use unconventional monetary policy (UMP) experience export booms. I use a popular gravity model of trade which requires neither the exogeneity of UMP, nor instrumental variables for UMP. In practice, countries that engage in UMP experience a drop in exports vis-Ă...
Keywords: quantitative, easing, negative, nominal, interest, trade, gravity, bilateral, data, empirical
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AMPF Papers

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Commissioned Paper

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May 2016

Currency Wars, Coordination, and Capital Controls

Olivier BLANCHARD
The strong monetary policy actions undertaken by advanced economies’ central banks have led to complaints of currency wars by some emerging market economies, and to widespread demands for more macroeconomic policy coordination. This chapter revisits these issues. It concludes that, while advanced ...
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