中文版
Zheng Liu
Senior Research Advisor,
Federal Reserve Bank of San Francisco

zliu001@gmail.com

CV

Support Staff: Han Wang hwang@saif.sjtu.edu.cn

  • PROFILE
  • RESEARCH
  • TEACHING
Zheng Liu is currently a Special-Term Professor of Economics at Shanghai Advanced Institute of Finance (SAIF), and Director of the Center for Pacific Basin Studies at the Federal Reserve Bank of San Francisco. Prior to joining the Fed in 2008, he was Associate Professor of Economics (with tenure) at Emory University. He has been a visiting scholar at the European Central Bank and a number of Federal Reserve Banks. Professor Liu was also a visiting scholar at the University of Minnesota and Boston University.
 
Professor Liu’s research focuses on macroeconomics, monetary economics, and international finance. His articles have been published in leading academic journals including the American Economic Review, American Economic Journal: Macro, Econometrica, Economic Journal, and Journal of Monetary Economics. He is currently serving as an associate editor for Journal of Money, Credit and Banking and for Journal of Economic Dynamics and Control. Professor Liu won the prestigious Sun Yefang Prize in 2016 for his paper “Capital Controls and Optimal Chinese Monetary Policy” published in the Journal of Monetary Economics (coauthored with Chun Chang and Mark Spiegel).  He also won the Best Paper Award (second prize) at the conference on “The Phillips Curve and the Natural Rate of Unemployment” in 2007.
 
Professor Liu has taught Macroeconomics, Monetary economics, International finance, and Macro-finance at undergraduate, master’s, and Ph.D. levels. 
 
Professor Liu holds an M.A. (1994) and a Ph.D. (1997) in economics from University of Minnesota.  He also holds an M.A. and B.A. degree in Economics from the Renmin University of China. 


Research Interests
Macroeconomics, Credit and Housing, Monetary Economics, Open Economy Macroeconomics

Journal Publications & Working Papers
1. Liu, Zheng, Jianjun Miao, and Tao Zha, 2016, Land Prices and Unemployment, Journal of Monetary Economics.
2. Liu Zheng , 2015, Discussion of Notarpietro and Siviero, Journal of Money, Credit and Banking.
3. Zheng Liu and Mark M. Spiegel, 2015, Optimal Monetary Policy and Capital Account Restrictions in a Small Open Economy, IMF Economic Review.
4. Chun Chang, Zheng Liu, and Mark M. Spiegel , 2015, Capital Controls and Optimal Chinese Monetary Policy, Journal of Monetary Economics.
5. Kevin X.D. Huang, Zheng Liu, and Qi Zhu, 2015, Temptation and Self-Control: Some Evidence and Applications, Journal of Money, Credit and Banking.
6. Zheng Liu, Pengfei Wang, 2014, Credit Constraints and Self-fulfilling Business Cycles, American Economic Journal.
7. Zheng Liu, 2014, Job Uncertainty and Chinese Household Savings, Economics Letters.
8. Sylvian Leduc, Zheng Liu, 2013, Uncertainty and the Slow Labor Market Recovery , Economics Letters.
9. Zheng Liu, Pengfei Wang and Tao Zha, 2013, Land-Price Dynamics and Macroeconomic Fluctuations, Econometrica.
10. Zheng Liu, Louis Phaneuf, 2013, The Transmission of Productivity Shocks: What Do We Learn about DSGE Modeling?, Annales d'Economie et de Statistique (Annals of Economics and Statistics).
11. Karsten Jeske, Zheng Liu, 2013, Should the Central Bank be Concerned about Housing Prices?, Macroeconomic Dynamics.
12. Zheng Liu, Mark Spiegel, 2012, External Shocks and China’s Monetary Policy, Economics Letters.
13. Sylvain Leduc, Zheng Liu, 2012, Uncertainty, Unemployment, and Inflation, Economics Letters.
14. Zheng Liu, Mark Spiegel, 2011, Boomer Retirement: Headwinds for US Equity Markets?, Economics Letters.
15. Zheng Liu, Justin Weidner, 2011, Does Headline Inflation Converge to Core?, Economics Letters.
16. Zheng Liu, Tao Zha and Dan Waggoner, 2011, Sources of the Macroeconomic Fluctuations: A Regime-Switching DSGE Approach, Quantitative Economics.
17. Zheng Liu, Glenn Rudebusch, 2010, Inflation: Mind the Gap, Economics Letters.
18. Zheng Liu, Dan Waggoner and Tao Zha, 2009, Asymmetric Expectation Effects of Regime Shifts in Monetary Policy, Review of Economic Dynamics.
19. Kevin X.D. Huang, Zheng Liu, Tao Zha, 2009, Learning, Adaptive Expectations, and Technology Shocks, Economic Journal.
20. E. Pappa,Zheng Liu, 2008, Gains from International Monetary Policy Coordination: Does It Pay to be Different?, Journal of Economic Dynamics and Control.
21. Hui He,Zheng Liu, 2008, Investment-Specific Technological Change, Skill Accumulation, and Wage Inequality, Review of Economic Dynamics.
22. L. Phaneuf,Zheng Liu, 2007, Technology Shocks and Labor Market Dynamics: Some Evidence and Theory, Journal of Monetary Economics.
23. K. Huang,Zheng Liu, 2007, Business Cycles with Staggered Prices and International Trade in Intermediate Inputs, Journal of Monetary Economics.
24. K. Huang,Zheng Liu, 2006, Sellers’ Local Currency Pricing or Buyers’ Local Currency Pricing: Does It Matter for International Welfare Analysis?, Journal of Economic Dynamics and Control.
25. K. Huang,Zheng Liu, 2005, Inflation Targeting: What Inflation Rate to Target?, Journal of Monetary Economics.
26. F. De Fiore,Zheng Liu, 2005, Does Trade Openness Matter for Aggregate Instability?, Journal of Economic Dynamics and Control.
27. K. Huang, L. Phaneuf,Zheng Liu, 2004, Why Does the Cyclical Behavior of Real Wages Change Over Time?, American Economic Review.
28. K. Huang,Zheng Liu, 2004, Input-Output Structure and Nominal Rigidity: The Persistence Problem Revisited, Macroeconomic Dynamics.
29. K. Huang,Zheng Liu, 2002, Staggered Price-Setting, Staggered Wage-Setting, and Business Cycle Persistence, Journal of Monetary Economics.
30. K. Huang,Zheng Liu, 2001, Production Chains and General Equilibrium Aggregate Dynamics, Journal of Monetary Economics.
31. Zheng Liu, 2000, Seasonal Cycles, Business Cycles, and Monetary Policy, Journal of Monetary Economics.
32. Zheng Liu with Pengfei Wang, Credit Constraints and Self-fulfilling Business Cycles.
33. Zheng Liu with K. Huang and Q. Zhu, Temptation and Self-Control: Some Evidence and Applications.
34. Zheng Liu with Chun Chang and Mark Spiegel, Monetary Policy in a DSGE Model with Chinese Characteristics.
35. Zheng Liu with Sylvain Leduc, Uncertainty Shocks Are Aggregate Demand Shocks.
36. Zheng Liu with Jianjun Miao and Tao Zha, Land Prices and Unemployment .
37. Zheng Liu with Hui He, Feng Huang, and Dongming Zhu),, Breaking the ‘Iron Rice Bowl’ and Precautionary Savings: Evidence from Chinese State-Owned Enterprises Reform.

Teaching Interests
No current data at this time.

Current Courses
No current courses at this time.

Faculty & Research
© Shanghai Advanced Institute of Finance All Rights Reserved.