Tao A. Zha

Federal Reserve Bank of Atlanta

Senior Economist and Policy Advisor

1000 Peachtree Street N.E.

Atlanta, GA 30309-4470

United States

Emory University

201 Dowman Drive

Atlanta, GA 30322

United States

SCHOLARLY PAPERS

60

DOWNLOADS
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SSRN RANKINGS

Top 11,389

in Total Papers Downloads

5,466

SSRN CITATIONS
Rank 808

SSRN RANKINGS

Top 808

in Total Papers Citations

1,148

CROSSREF CITATIONS

221

Scholarly Papers (60)

1.

Markov-Switching Structural Vector Autoregressions: Theory and Application

FRB of Atlanta Working Paper No. 2005-27
Number of pages: 48 Posted: 19 Dec 2005
Federal Reserve Bank of Atlanta - Research Department, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 710 (46,328)
Citation 31

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Markov switching, regime changes, volatility, identification

2.

Were There Regime Switches in U.S. Monetary Policy?

FRB of Atlanta Working Paper No. 2004-14
Number of pages: 42 Posted: 22 Aug 2004
Christopher A. Sims and Tao A. Zha
Princeton University - Department of Economics and Federal Reserve Bank of Atlanta
Downloads 254 (154,027)
Citation 367

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Counterfactuals, Lucas critique, policy rule, monetary targeting, simultaneity, volatility, model comparison

3.

A Gibbs Simulator for Restricted VAR Models

FRB of Atlanta Working Paper No. 2000-3
Number of pages: 25 Posted: 02 May 2000
Daniel F. Waggoner and Tao A. Zha
Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 232 (168,240)
Citation 2

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Does Fiscal Policy Matter for Stock-Bond Return Correlation?

Number of pages: 49 Posted: 28 Jan 2018 Last Revised: 07 May 2021
Erica X. N. Li, Tao A. Zha, Ji Zhang and Hao Zhou
Cheung Kong Graduate School of Business, Federal Reserve Bank of Atlanta, Tsinghua University - PBC School of Finance and SUSTech Business School
Downloads 211 (183,768)
Citation 2

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Stock-bond return correlation, consumption-inflation correlation, fiscal-monetary policy regime, bond risk premium, technology shock, investment shock

Does Fiscal Policy Matter for Stock-Bond Return Correlation?

Number of pages: 50 Posted: 28 Sep 2020 Last Revised: 18 Nov 2021
Erica X. N. Li, Tao A. Zha, Ji Zhang and Hao Zhou
Cheung Kong Graduate School of Business, Federal Reserve Bank of Atlanta, Tsinghua University - PBC School of Finance and SUSTech Business School
Downloads 8 (770,375)
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5.
Downloads 218 (178,565)
Citation 30

Trends and Cycles in China's Macroeconomy

Number of pages: 74 Posted: 02 Jul 2015
Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF), Emory University - Department of Economics, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 136 (268,790)

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reallocation, between-sector effect, total factor productivity growth, heavy versus light sectors, long-term versus short-term loans, labor share, lending frictions, incentive compatibility

Trends and Cycles in China's Macroeconomy

Number of pages: 76 Posted: 11 May 2018
Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF), Emory University - Department of Economics, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 60 (452,706)
Citation 6

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Reallocation, between-sector effect, TFP growth, heavy vs. light sectors, long-term vs. short-term loans, labor share, lending frictions, incentive compatibility

Trends and Cycles in China&Apos;S Macroeconomy

Number of pages: 75 Posted: 08 Jun 2015 Last Revised: 19 Jul 2021
Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF), Emory University - Department of Economics, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 22 (654,964)
Citation 18

Abstract:

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6.

Estimating and Forecasting Disease Scenarios for Covid-19 with an Sir Model

Number of pages: 150 Posted: 10 Jun 2020 Last Revised: 10 Sep 2021
University of California, Los Angeles (UCLA) - Department of Economics, Federal Reserve Banks - Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 208 (186,480)
Citation 4

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7.

Evaluating Wall Street Journal Survey Forecasters: A Multivariate Approach

FRB of Atlanta Working Paper No. 2002-8
Number of pages: 24 Posted: 17 Aug 2002
Independent, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 191 (201,594)
Citation 6

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Wall Street Journal, joint forecast, probability, ranking, correlation, variance, multivariate assessment

8.

Normalization in Econometrics

FRB of Atlanta Working Paper No. 2004-13
Number of pages: 69 Posted: 22 Aug 2004
University of California at San Diego, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 169 (224,125)
Citation 15

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Normalization, mixture distributions, vector autoregressions, cointegration, regime switching, numerical Bayesian methods, small sample distributions, weak identification

9.
Downloads 157 (238,613)
Citation 8

Four Stylized Facts About Covid-19

Number of pages: 44 Posted: 25 Aug 2020 Last Revised: 27 Sep 2021
University of California, Los Angeles (UCLA) - Department of Economics, Federal Reserve Banks - Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 136 (268,790)
Citation 6

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Four Stylized Facts about COVID-19

Number of pages: 43 Posted: 22 Apr 2021
University of California, Los Angeles (UCLA) - Department of Economics, Federal Reserve Banks - Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 21 (662,689)

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COVID-19; death; dispersion; NPI policy; reproduction number; transmission rate

10.

Structural Vector Autoregressions: Theory of Identification and Algorithms for Inference

Federal Reserve Bank of Atlanta Working Paper No. 2008-18
Number of pages: 69 Posted: 16 Nov 2008
Federal Reserve Bank of Atlanta - Research Department, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 155 (241,059)
Citation 115

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linear and nonlinear restrictions, global identification, almost everywhere, rank conditions, orthogonal rotation, transformation, simultaneity

11.

Assessing Simple Policy Rules: A View from a Complete Macro Model

FRB of Atlanta Working Paper No. 2000-19
Number of pages: 57 Posted: 01 Feb 2001
Eric M. Leeper, Eric M. Leeper and Tao A. Zha
Indiana University at Bloomington - Department of EconomicsUniversity of Virginia and Federal Reserve Bank of Atlanta
Downloads 153 (243,602)
Citation 16

Abstract:

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monetary policy, identification, New Keynesian, policy analysis, VAR

12.

Stock-Bond Return Correlation, Bond Risk Premium Fundamentals, and Fiscal-Monetary Policy Regime

Number of pages: 54 Posted: 20 Apr 2021
Erica X. N. Li, Tao A. Zha, Ji Zhang and Hao Zhou
Cheung Kong Graduate School of Business, Federal Reserve Bank of Atlanta, Tsinghua University - PBC School of Finance and SUSTech Business School
Downloads 152 (245,007)

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stock-bond return correlation, consumption-inflation correlation, fiscal-monetary policy regime, bond risk premium, technology shock, investment shock

13.
Downloads 138 (264,793)
Citation 12

Perturbation Methods for Markov-Switching DSGE Models

Federal Reserve Bank of Kansas City Working Paper No. RWP 13-01
Number of pages: 35 Posted: 08 Mar 2013 Last Revised: 21 Nov 2015
Federal Reserve Banks - Federal Reserve Bank of San Francisco, Federal Reserve Bank of Atlanta - Research Department, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 102 (331,305)
Citation 5

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Perturbation Methods for Markov-Switching DSGE Models

Number of pages: 39 Posted: 04 Apr 2015
Federal Reserve Banks - Federal Reserve Bank of San Francisco, Federal Reserve Bank of Atlanta - Research Department, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 21 (662,689)

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partition principle, naive perturbation, uncertainty, Taylor series, high-order expansion, time-varying coefficients, nonlinearity, Gröbner bases

Perturbation Methods for Markov-Switching DSGE Models

Number of pages: 39 Posted: 25 Aug 2014 Last Revised: 19 Sep 2021
Federal Reserve Banks - Federal Reserve Bank of San Francisco, Federal Reserve Bank of Atlanta - Research Department, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 11 (744,566)
Citation 3

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Perturbation Methods for Markov-Switching DSGE Models

Number of pages: 88 Posted: 08 May 2013
Federal Reserve Banks - Federal Reserve Bank of San Francisco, Federal Reserve Bank of Atlanta - Research Department, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 4 (804,463)
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DSGE, Markov-Switching, Perturbation

What We Learn from China's Rising Shadow Banking: Exploring the Nexus of Monetary Tightening and Banks' Role in Entrusted Lending

Number of pages: 63 Posted: 01 Feb 2016
Kaiji Chen, Jue Ren and Tao A. Zha
Emory University - Department of Economics, Texas Christian University - M.J. Neeley School of Business and Federal Reserve Bank of Atlanta
Downloads 112 (310,370)

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Regulatory arbitrage, asset pricing, institutional asymmetry, entrusted loans, risk taking, shadow loans, bank loans, nonloan investment, nonbank trustees, small banks, large banks, balance sheet, optimal decisions

What We Learn from China&Apos;S Rising Shadow Banking: Exploring the Nexus of Monetary Tightening and Banks&Apos; Role in Entrusted Lending

Number of pages: 64 Posted: 20 Jan 2016 Last Revised: 25 Apr 2021
Kaiji Chen, Jue Ren and Tao A. Zha
Emory University - Department of Economics, Texas Christian University - M.J. Neeley School of Business and Federal Reserve Bank of Atlanta
Downloads 24 (639,786)
Citation 1

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15.

Normalization, Probability Distribution, and Impulse Responses

Working Paper Number 97-11
Number of pages: 21 Posted: 22 Feb 1998
Daniel F. Waggoner and Tao A. Zha
Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 131 (275,565)
Citation 4

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16.

Methods for Inference in Large Multiple-Equation Markov-Switching Models

FRB of Atlanta Working Paper No. 2006-22
Number of pages: 46 Posted: 09 Feb 2007
Princeton University - Department of Economics, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 128 (280,321)
Citation 50

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volatility, coefficient changes, discontinuous shifts, Lucas critique, independent Markov processes

17.
Downloads 123 (288,818)
Citation 9

The Conquest of South American Inflation

FRB of Atlanta Working Paper No. 2006-20
Number of pages: 61 Posted: 26 Nov 2006
New York University (NYU) - Department of Economics, Leonard N. Stern School of Business, Princeton University - Department of Economics and Federal Reserve Bank of Atlanta
Downloads 91 (356,845)
Citation 5

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self-conirming equilibria, rational expectations, adaptation, inflation, seigniorage, deficits, escape dynamics

The Conquest of South American Inflation

Number of pages: 61 Posted: 23 Oct 2006 Last Revised: 13 Jun 2021
New York University (NYU) - Department of Economics, Leonard N. Stern School of Business, Princeton University - Department of Economics and Federal Reserve Bank of Atlanta
Downloads 32 (585,588)
Citation 1

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18.

Do Credit Constraints Amplify Macroeconomic Fluctuations?

Number of pages: 40 Posted: 23 Mar 2015
Zheng Liu, Pengfei Wang and Tao A. Zha
Federal Reserve Banks - Federal Reserve Bank of San Francisco, HKUST, Department of Economics and Federal Reserve Bank of Atlanta
Downloads 122 (290,565)
Citation 15

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credit constraints, collateral asset, housing prices, investment, financial multiplier, business cycle, structural estimation

19.

MCMC Method for Markov Mixture Simultaneous-Equation Models: A Note

FRB of Atlanta Working Paper No. 2004-15
Number of pages: 21 Posted: 22 Aug 2004
Christopher A. Sims and Tao A. Zha
Princeton University - Department of Economics and Federal Reserve Bank of Atlanta
Downloads 116 (302,984)
Citation 4

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Simultaneity, identification, time variation, volatility, Bayesian method

20.

Transparency, Expectations, and Forecasts

ECB Working Paper No. 637, FRB of Atlanta Working Paper No. 2006-3
Number of pages: 52 Posted: 26 Apr 2006
Federal Reserve Bank of Richmond, Independent, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 107 (318,610)

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Transparency, common errors, idiosyncratic errors

21.

Trends in Velocity and Policy Expectations

FRB Atlanta Working Paper 97-7
Number of pages: 39 Posted: 04 Jan 1998
Indiana University at Bloomington - Department of EconomicsUniversity of Virginia, Clemson University - John E. Walker Department of Economics and Federal Reserve Bank of Atlanta
Downloads 105 (322,744)
Citation 2

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22.
Downloads 98 (337,658)

A Theory of Housing Demand Shocks

Number of pages: 40 Posted: 28 Mar 2019 Last Revised: 29 Apr 2020
Zheng Liu, Pengfei Wang and Tao A. Zha
Federal Reserve Banks - Federal Reserve Bank of San Francisco, HKUST, Department of Economics and Federal Reserve Bank of Atlanta
Downloads 79 (389,452)

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price-rent puzzle, heterogeneity, marginal agent, cutoff point, liquidity premium, price-to-rent ratio, collateral constraint

A Theory of Housing Demand Shocks

Number of pages: 41 Posted: 19 Mar 2019 Last Revised: 20 Aug 2021
Zheng Liu, Pengfei Wang and Tao A. Zha
Federal Reserve Banks - Federal Reserve Bank of San Francisco, HKUST, Department of Economics and Federal Reserve Bank of Atlanta
Downloads 19 (678,363)

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23.
Downloads 91 (353,914)
Citation 17

Forecasting China's Economic Growth and Inflation

Number of pages: 24 Posted: 14 Jul 2016 Last Revised: 30 Aug 2017
Federal Reserve Banks - Federal Reserve Bank of Atlanta, Federal Reserve Bank of Atlanta and Shanghai Jiao Tong University (SJTU)
Downloads 68 (424,081)
Citation 4

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out of sample, policy projections, scenario analysis, probability bands, density forecasts, random walk, Bayesian priors

Forecasting China&Apos;S Economic Growth and Inflation

Number of pages: 25 Posted: 11 Jul 2016 Last Revised: 18 Sep 2021
Federal Reserve Banks - Federal Reserve Bank of Atlanta, Federal Reserve Bank of Atlanta and Shanghai Jiao Tong University (SJTU)
Downloads 23 (647,311)
Citation 5

Abstract:

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24.
Downloads 90 (356,349)
Citation 1

Macroeconomic Effects of China's Financial Policies

Number of pages: 40 Posted: 28 Jan 2019 Last Revised: 29 Apr 2020
Kaiji Chen and Tao A. Zha
Emory University - Department of Economics and Federal Reserve Bank of Atlanta
Downloads 74 (404,499)
Citation 1

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marketized tools, regime change, growth, investment, capital intensity, local governments, regulations, shadow banking, debts, real estate, preferential credits, industrialization, SOEs, POEs, heavy and light sectors, monetary stimulus, trends and cycles

Macroeconomic Effects of China&Apos;S Financial Policies

Number of pages: 41 Posted: 05 Nov 2018 Last Revised: 02 Jun 2021
Kaiji Chen and Tao A. Zha
Emory University - Department of Economics and Federal Reserve Bank of Atlanta
Downloads 16 (702,264)

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Indeterminacy in a Forward-Looking Regime-Switching Model

FRB of Atlanta Working Paper No. 2006-19
Number of pages: 16 Posted: 26 Nov 2006
University of California, Los Angeles (UCLA) - Department of EconomicsUniversity of Warwick, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 55 (472,285)
Citation 2

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policy rule, inflation, serial dependence, multiple equilibria, regime switching

Indeterminacy in a Forward Looking Regime Switching Model

Number of pages: 16 Posted: 02 Oct 2006 Last Revised: 08 Oct 2021
University of California, Los Angeles (UCLA) - Department of EconomicsUniversity of Warwick, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 19 (678,363)

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Indeterminacy in a Forward Looking Regime Switching Model

Number of pages: 18 Posted: 29 Dec 2006
University of California, Los Angeles (UCLA) - Department of EconomicsUniversity of Warwick, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 14 (718,974)
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Indeterminacy, regime switching, Taylor Principle

26.

Likelihood-Preserving Normalization in Multiple Equation Models

FRB of Atlanta Working Paper No. 2000-8
Number of pages: 28 Posted: 10 Oct 2000
Daniel F. Waggoner and Tao A. Zha
Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 84 (371,891)
Citation 4

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Bayesian methods, causal analysis, supply and demand, simultaneity, likelihood shape, equilibrium effects

27.

The Nexus of Monetary Policy and Shadow Banking in China

Number of pages: 96 Posted: 08 May 2017 Last Revised: 17 Nov 2021
Kaiji Chen, Jue Ren and Tao A. Zha
Emory University - Department of Economics, Texas Christian University - M.J. Neeley School of Business and Federal Reserve Bank of Atlanta
Downloads 81 (379,963)
Citation 31

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Understanding the New Keynesian Model When Monetary Policy Switches Regimes

FRB Atlanta Working Paper No. 2007-12
Number of pages: 24 Posted: 27 Dec 2007
University of California, Los Angeles (UCLA) - Department of EconomicsUniversity of Warwick, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 55 (472,285)

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active and passive regimes, indeterminacy, cross-regime spillovers, conditioning, expectations formation, inflation hawk, inflation dove

Understanding the New-Keynesian Model When Monetary Policy Switches Regimes

Number of pages: 24 Posted: 15 Mar 2007 Last Revised: 06 Jun 2021
University of California, Los Angeles (UCLA) - Department of EconomicsUniversity of Warwick, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 26 (625,081)

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29.

Minimal State Variable Solutions to Markov-Switching Rational Expectations Models

FRB of Atlanta Working Paper No. 2008-23
Number of pages: 30 Posted: 13 Nov 2008
University of California, Los Angeles (UCLA) - Department of EconomicsUniversity of Warwick, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 80 (382,769)
Citation 53

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regime switching, volatility, rational expectations

30.

Generalizing the Taylor Principle: Comment

Federal Reserve Bank of Atlanta Working Paper 2008-19
Number of pages: 14 Posted: 16 Nov 2008
University of California, Los Angeles (UCLA) - Department of EconomicsUniversity of Warwick, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 72 (406,153)
Citation 7

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bounded solutions, multiple fundamental equilibria, historical dependence

Impacts of Monetary Stimulus on Credit Allocation and Macroeconomy: Evidence from China

Number of pages: 52 Posted: 26 Sep 2016 Last Revised: 21 Oct 2017
Emory University - Department of Economics, Federal Reserve Bank of Atlanta, Federal Reserve Banks - Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 57 (464,424)
Citation 2

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asymmetric credit allocation, endogenous regime switching, debt-to-GDP ratio, heavy GDP, heavy loans, real estate, land prices, GDP growth target, nonlinear effects

Impacts of Monetary Stimulus on Credit Allocation and the Macroeconomy: Evidence from China

Number of pages: 53 Posted: 20 Sep 2016 Last Revised: 23 May 2021
Emory University - Department of Economics, Federal Reserve Banks - Federal Reserve Bank of Atlanta, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 13 (727,458)
Citation 1

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32.
Downloads 63 (435,804)
Citation 42

Modest Policy Interventions

Number of pages: 41 Posted: 14 Sep 2002 Last Revised: 15 Aug 2021
Eric M. Leeper, Eric M. Leeper and Tao A. Zha
Indiana University at Bloomington - Department of EconomicsUniversity of Virginia and Federal Reserve Bank of Atlanta
Downloads 29 (604,495)
Citation 13

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Modest Policy Interventions

Number of pages: 66 Posted: 25 Jan 2015
Eric M. Leeper, Eric M. Leeper and Tao A. Zha
Indiana University at Bloomington - Department of EconomicsUniversity of Virginia and Federal Reserve Bank of Atlanta
Downloads 20 (670,423)
Citation 19

Abstract:

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monetary policy, identification, forecasting, policy analysis, VAR, Lucas critique

Modest Policy Interventions

Number of pages: 41 Posted: 23 Feb 2015
Eric M. Leeper, Eric M. Leeper and Tao A. Zha
Indiana University at Bloomington - Department of EconomicsUniversity of Virginia and Federal Reserve Bank of Atlanta
Downloads 14 (718,974)
Citation 1

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monetary policy, identification, forecasting, policy analysis, VAR, Lucas critique

33.
Downloads 61 (442,708)
Citation 61

Land-Price Dynamics and Macroeconomic Fluctuations

Number of pages: 44 Posted: 16 May 2011 Last Revised: 30 Jul 2021
Zheng Liu, Zheng Liu, Pengfei Wang and Tao A. Zha
Federal Reserve Banks - Federal Reserve Bank of San Francisco, Federal Reserve Banks - Federal Reserve Bank of San Francisco, HKUST, Department of Economics and Federal Reserve Bank of Atlanta
Downloads 32 (585,588)
Citation 17

Abstract:

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Land-Price Dynamics and Macroeconomic Fluctuations

Number of pages: 43 Posted: 22 Mar 2015
Zheng Liu, Pengfei Wang and Tao A. Zha
Federal Reserve Banks - Federal Reserve Bank of San Francisco, HKUST, Department of Economics and Federal Reserve Bank of Atlanta
Downloads 29 (604,495)
Citation 33

Abstract:

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land prices, collateral assets, investment, dynamic multiplier, propagation mechanism, co-movements

Shocks and Government Beliefs: The Rise and Fall of American Inflation

Number of pages: 50 Posted: 29 Sep 2004 Last Revised: 31 May 2021
New York University (NYU) - Department of Economics, Leonard N. Stern School of Business, Princeton University - Department of Economics and Federal Reserve Bank of Atlanta
Downloads 47 (506,790)
Citation 1

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Shocks and Government Beliefs: The Rise and Fall of American Inflation

Number of pages: 41 Posted: 23 Feb 2015
New York University (NYU) - Department of Economics, Leonard N. Stern School of Business, Princeton University - Department of Economics and Federal Reserve Bank of Atlanta
Downloads 14 (718,974)
Citation 24

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updating beliefs, policy evaluation, self-confirming equilibrium, Nash inflation, Ramsey outcomes

Understanding Markov-Switching Rational Expectations Models

Number of pages: 27 Posted: 17 Feb 2009 Last Revised: 12 Sep 2021
University of California, Los Angeles (UCLA) - Department of EconomicsUniversity of Warwick, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 41 (535,724)
Citation 3

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Understanding Markov-Switching Rational Expectations Models

Number of pages: 26 Posted: 17 Mar 2015
University of California, Los Angeles (UCLA) - Department of EconomicsUniversity of Warwick, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 18 (686,255)
Citation 11

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stability, nonlinearity, unique equilibrium, cross-regime indeterminacy, expectations formation, necessary and sufficient conditions

36.

Conditional Forecasts in Dynamic Multivariate Models

Number of pages: 43 Posted: 25 Jan 2015
Daniel F. Waggoner and Tao A. Zha
Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 56 (461,150)
Citation 26

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conditional forecasts, hard and soft conditions, Bayesian methods, probability distribution, error bands, likelihood

37.

The Dynamic Striated Metropolis-Hastings Sampler for High-Dimensional Models

Number of pages: 35 Posted: 04 Apr 2015
Daniel F. Waggoner, Hongwei Wu and Tao A. Zha
Federal Reserve Bank of Atlanta, Federal Reserve Banks - Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 52 (476,649)
Citation 8

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dynamic striation adjustments, simultaneous equations, Phillips curve, winding ridges, multiple peaks, independent striated draws, irregular posterior distribution, importance weights, tempered posterior density, effective sample size

38.

Assessing the Macroeconomic Impact of Bank Intermediation Shocks: A Structural Approach

Number of pages: 43 Posted: 07 Sep 2017
Kaiji Chen and Tao A. Zha
Emory University - Department of Economics and Federal Reserve Bank of Atlanta
Downloads 45 (506,448)
Citation 1

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intermediation cost, credit supply channel, micro bank-level data, call report, senior loan officers, identification, supply and demand, intermediation costs, endogenous monitoring activities

Liquidity Premia, Price-Rent Dynamics, and Business Cycles

Number of pages: 54 Posted: 04 Apr 2015
Jianjun Miao, Pengfei Wang and Tao A. Zha
Boston University - Department of Economics, HKUST, Department of Economics and Federal Reserve Bank of Atlanta
Downloads 31 (591,678)
Citation 4

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asset pricing, financial frictions, working capital, cutoff productivity, heterogeneous firms, endogenous TFP, house price, liquidity constraint

Discount Shock, Price-Rent Dynamics, and the Business Cycle

Number of pages: 56 Posted: 18 Aug 2014 Last Revised: 16 Apr 2021
Jianjun Miao, Pengfei Wang and Tao A. Zha
Boston University - Department of Economics, HKUST, Department of Economics and Federal Reserve Bank of Atlanta
Downloads 8 (770,375)

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40.

Learning, Adaptive Expectations, and Technology Shocks

FRB of Atlanta Working Paper No. 2008-20
Number of pages: 38 Posted: 13 Nov 2008
Federal Reserve Bank of PhiladelphiaVanderbilt University - College of Arts and Science - Department of Economics, Federal Reserve Banks - Federal Reserve Bank of San Francisco and Federal Reserve Bank of Atlanta
Downloads 37 (544,532)
Citation 9

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self-confirming equilibrium, amplification, labor market dynamics, wealth and substitution effects, hump-shaped responses

41.

Sources of Macroeconomic Fluctuations: A Regime-Switching DSGE Approach

Number of pages: 75 Posted: 19 Mar 2015
Zheng Liu, Daniel F. Waggoner and Tao A. Zha
Federal Reserve Banks - Federal Reserve Bank of San Francisco, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 35 (555,003)
Citation 16

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systematic analysis, regime switching, depreciation shock, efficient estimation methods

42.

Land Prices and Unemployment

Number of pages: 45 Posted: 22 Mar 2015
Zheng Liu, Jianjun Miao and Tao A. Zha
Federal Reserve Banks - Federal Reserve Bank of San Francisco, Boston University - Department of Economics and Federal Reserve Bank of Atlanta
Downloads 34 (560,358)
Citation 2

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Housing and labor markets, volatility, match value of employment, marginal utility of consumption, credit channel, labor channel

43.

Empirical Analysis of Policy Interventions

Number of pages: 40 Posted: 11 Jul 2002 Last Revised: 08 Oct 2021
Eric M. Leeper, Eric M. Leeper and Tao A. Zha
Indiana University at Bloomington - Department of EconomicsUniversity of Virginia and Federal Reserve Bank of Atlanta
Downloads 30 (582,664)
Citation 2

Abstract:

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44.

Quantifying the Half-Life of Deviations from PPP: The Role of Economic Priors

Number of pages: 35 Posted: 25 Jan 2015
Lutz Kilian and Tao A. Zha
Federal Reserve Banks - Federal Reserve Bank of Dallas and Federal Reserve Bank of Atlanta
Downloads 28 (594,834)
Citation 12

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purchasing power parity, half-life, mean reversion, persistence, likelihood

45.

Asymmetric Expectation Effects of Regime Shifts and the Great Moderation

Number of pages: 48 Posted: 23 Feb 2015
Zheng Liu, Daniel F. Waggoner and Tao A. Zha
Federal Reserve Banks - Federal Reserve Bank of San Francisco, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 19 (656,257)
Citation 2

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structural breaks, expectations formation, monetary policy regime, macroeconomic volatility, Lucas critique

46.

Confronting Model Misspecification in Macroeconomics

Number of pages: 52 Posted: 27 Jan 2012 Last Revised: 13 Aug 2021
Daniel F. Waggoner and Tao A. Zha
Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 17 (670,646)
Citation 10

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47.

Confronting Model Misspecification in Macroeconomics

Number of pages: 51 Posted: 23 Mar 2015
Daniel F. Waggoner and Tao A. Zha
Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 16 (678,025)
Citation 1

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Markov-switching mixture, heterogenous models, regime-dependent weights, model uncertainty, parameter uncertainty, impulse responses, policy analysis

48.

Monetary Stimulus Amid the Infrastructure Investment Spree: Evidence from China's Loan-Level Data

Number of pages: 80 Posted: 20 Apr 2021
Emory University - Department of Economics, Renmin University of China, Federal Reserve Banks - Federal Reserve Bank of Atlanta, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 13 (701,062)

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infrastructure investment; monetary policy transmission; fiscal shocks; policy interaction; credit reallocation; LGFVs

Discount Shock, Price-Rent Dynamics, and the Business Cycle

Number of pages: 43 Posted: 23 May 2020
Jianjun Miao, Pengfei Wang and Tao A. Zha
Boston University - Department of Economics, HKUST, Department of Economics and Federal Reserve Bank of Atlanta
Downloads 13 (727,458)

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comovements, liquidity premium, stochastic discount factor, asset pricing, production economy, heterogenous firms, endogenous TFP, general equilibrium

Discount Shock, Price–Rent Dynamics, and the Business Cycle

International Economic Review, Vol. 61, Issue 3, pp. 1229-1252, 2020
Number of pages: 24 Posted: 30 Sep 2020
Jianjun Miao, Pengfei Wang and Tao A. Zha
Boston University - Department of Economics, HKUST, Department of Economics and Federal Reserve Bank of Atlanta
Downloads 0
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Cyclical Lending Standards: A Structural Analysis

Number of pages: 53 Posted: 23 May 2020
Kaiji Chen, Patrick C. Higgins and Tao A. Zha
Emory University - Department of Economics, Federal Reserve Banks - Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 11 (744,566)

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endogenous regime switching, asymmetric credit allocation, land prices, heavy GDP, debt-to-GDP ratio, nonlinear effects, GDP growth target, heavy loans, real estate

Cyclical Lending Standards: A Structural Analysis

Number of pages: 54 Posted: 26 May 2020 Last Revised: 19 Nov 2021
Kaiji Chen, Patrick C. Higgins and Tao A. Zha
Emory University - Department of Economics, Federal Reserve Banks - Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
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Monetary Stimulus Amidst the Infrastructure Investment Spree: Evidence from China&Apos;S Loan-Level Data

Number of pages: 81 Posted: 31 Aug 2020 Last Revised: 18 Nov 2021
Emory University - Department of Economics, Renmin University of China, Federal Reserve Banks - Federal Reserve Bank of Atlanta, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
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52.

Land Prices and Unemployment

Number of pages: 46 Posted: 30 Aug 2013 Last Revised: 18 Jun 2021
Zheng Liu, Zheng Liu, Jianjun Miao and Tao A. Zha
Federal Reserve Banks - Federal Reserve Bank of San Francisco, Federal Reserve Banks - Federal Reserve Bank of San Francisco, Boston University - Department of Economics and Federal Reserve Bank of Atlanta
Downloads 8 (740,499)
Citation 7

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The S-Curve: Understanding the Dynamics of Worldwide Financial Liberalization

Number of pages: 56 Posted: 05 Jul 2021 Last Revised: 18 Nov 2021
Nan Li, Chris Papageorgiou, Tong Xu and Tao A. Zha
International Monetary Fund (IMF), International Monetary Fund (IMF) - Research Department, Emory University and Federal Reserve Bank of Atlanta
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The S-Curve: Understanding the Dynamics of Worldwide Financial Liberalization

Number of pages: 55 Posted: 14 Jul 2021
Nan Li, Chris Papageorgiou and Tao A. Zha
International Monetary Fund (IMF), International Monetary Fund (IMF) - Research Department and Federal Reserve Bank of Atlanta
Downloads 1 (837,405)

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54.

Aggregate and Distributional Impacts of Ltv Policy: Evidence from China&Apos;S Micro Data

Number of pages: 74 Posted: 16 Nov 2020 Last Revised: 18 Nov 2021
Kaiji Chen, Qing Wang, Tong Xu and Tao A. Zha
Emory University - Department of Economics, Southwestern University of Finance and Economics (SWUFE), Emory University and Federal Reserve Bank of Atlanta
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55.

Does Monetary Policy Generate Recessions?

Federal Reserve Bank of Atlanta Working Paper 98-12
Posted: 04 Sep 1998
Christopher A. Sims and Tao A. Zha
Princeton University - Department of Economics and Federal Reserve Bank of Atlanta

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57.

Identifying Monetary Policy in a Small Open Economy Under Flexible Exchange Rates

Federal Reserve Bank of Atlanta Working Paper 95-7
Posted: 09 May 1998
Westminster College, Dept. of Economics and BusinessWestminster College - Department of Economics and Business and Federal Reserve Bank of Atlanta

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58.

Error Bands for Impulse Responses

Federal Reserve Bank of Atlanta WP 95-6
Posted: 06 May 1998
Christopher A. Sims and Tao A. Zha
Princeton University - Department of Economics and Federal Reserve Bank of Atlanta

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59.

Bayesian Methods for Dynamic Multivariate Models

FRB Atlanta Working Paper No. 96-13
Posted: 04 Feb 1997
Christopher A. Sims and Tao A. Zha
Princeton University - Department of Economics and Federal Reserve Bank of Atlanta

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60.

Identification, Vector Autoregression, and Block Recursion

Federal Reserve Bank of Atlanta Working Paper No. 96-8
Posted: 24 Sep 1996
Tao A. Zha
Federal Reserve Bank of Atlanta

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