Shu-Chun S. Yang’s scientific contributions

... More broadly, a set of related papers studies the source and borrowers' country-specific drivers of cross-border bank lending (De Haas and van Lelyveld, 2014;Rose and Wieladek, 2014;Cetorelli and Goldberg, 2012;Giannetti and Laeven, 2012;De Haas and van Horen, 2012;Buch et al., 2014;Cerutti et al., 2014;Cerutti et al., 2015). 2 Regarding the second strand of works on how monetary policy and fiscal policy interact: research findings on the joint roles of monetary policy and government debt have converged little, even as assessing these policies' interaction (key for fine-tuning the policy effects) has become increasingly policy relevant (Blinder, 1982). Various models have proposed how monetary policies could interact with fiscal policy (Davig and Leeper, 2011;Dosi et al, 2015;Cochrane, 2018;Cui, 2016;Kocherlakota, 2022;Beetsma and Jense, 2005;Traum and Yang, 2011). The third strand of papers examine financial repression -that is, government policies that affect banks' balance sheet composition and lending. ...

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How Does Fiscal Policy affect the Transmission of Monetary Policy into Cross-border Bank Lending? Cross-country Evidence

... Five fiscal instruments are used as policy tools for decision-making. This model adopts an approach similar to those of Leeper et al. [53], Stähler and Thomas [27], and Drygalla et al. [29] when defining expenditure and revenue shocks in the fiscal sector. However, I slightly modify the approach to suit the research objectives. ...

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Effects of Expansionary Fiscal Policy in a Commodity-Exporting Economy: Evidence from Mongolia

... Second, the positive effect of expansionary fiscal policy on the federal deficit, output and prices are imposed only on lag 1 and 2. The reason is the following. On one hand, the effects of fiscal policy decisions on public expenditures or receipts are often delayed by several months as discussed in the fiscal foresight literature, see Leeper et al. (2013). On the other hand, the sign and the size of the impact effects of such decisions on output and prices are not obvious. ...

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Policy and Business Cycle Shocks: A Structural Factor Model Representation of the US Economy

... More specifically, I develop a reasonably simple stochastic neoclassical growth model to carry out shocks and scenarios analysis. Similar models have been used by Mankiw and Weinzierl (2006), Leeper and Yang (2008), Davig,Leeper,and 3 It is a legal requirement for the CBO to produce projections under current policy settings. 4 The CBO is currently (March 2021) projecting gross government debt in the US to increase from 102 percent of GDP at the end of 2021 to 107 percent of GDP by 2031, and 202 percent of GDP by 2051 (see CBO, 2021). ...

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Shocks and Scenarios Analysis Using a Stochastic Neoclassical Growth Model Background Paper for the