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Zhengyang Chen

Papers by Zhengyang Chen tracked in the Macro Paper Warehouse.

4 papers tracked 0 forthcoming 4 classics

Showing 4 papers

Published Classic Macroeconomic Dynamics Online 30 Sep 2024 Published Jan 2025

A granular investigation on the stability of money demand

This 2024 Macroeconomic Dynamics paper by Zhengyang Chen and Victor J. Valcarcel asks whether the long-documented instability of U.S.

Money Demand Aggregates

Published Classic Journal of Macroeconomics Published Mar 2026

Demystifying monetary policy surprises: Fed response to financial conditions and wait and see for new economic data

Zhengyang Chen

This 2026 Journal of Macroeconomics paper by Zhengyang Chen asks why high-frequency monetary policy surprises (MPS) -- changes in short-term interest-rate futures measured in narrow windows around …

High Frequency Identification Central Bank Communication

Published Classic Journal of Economic Dynamics and Control Published Jan 2025

Modeling inflation expectations in forward-looking interest rate and money growth rules

Zhengyang Chen · Victor J. Valcarcel

This 2025 Journal of Economic Dynamics and Control paper by Zhengyang Chen and Victor J. Valcarcel proposes a "rational expectations structural VAR" (RE-SVAR) — a way to embed rational expectations …

Structural Var Inflation Expectations

Published Classic Journal of Economic Dynamics and Control Published Oct 2021

Monetary transmission in money markets: The not-so-elusive missing piece of the puzzle

Zhengyang Chen · Victor J. Valcarcel

This 2021 Journal of Economic Dynamics and Control paper by Zhengyang Chen and Victor Valcarcel shows that the Wu-Xia (2016) shadow federal funds rate — a standard modern-sample proxy for the stance …

Divisia Aggregates Monetary Policy Transmission