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Working Paper
Wealth distribution with state-dependent risk aversion
Zhang, Bei; Nie, Jun; Chu, Rong-Wei (2014-01-01)
Research Working Paper , Paper RWP 13-9

Working Paper
Trade and Inequality in an Overlapping Generations Model with Capital Accumulation
Ravikumar, B.; Sposi, Michael; Nie, Jun (2024-09-23)
We study the lifecycle aspect of within-country inequality that stems from capital and labor services supplied by individuals. Our environment is a combination of a multicountry trade model and an overlapping generations model with production and capital accumulation. Trade liberalization increases the measured total factor productivity in each country, which increases the marginal product of capital and incentivizes capital accumulation. Higher capital stock and higher measured productivity raise the marginal product of labor and, hence, wages. Inequality, measured by the ratio of old ...
Working Papers , Paper 2024-018

Working Paper
Robust control, informational frictions, and international consumption correlations
Luo, Yulei; Young, Eric R.; Nie, Jun (2010)
In this paper we examine the effects of two types of information imperfections, robustness (RB) and nite information-processing capacity (called rational inattention or RI), on international consumption correlations in an otherwise standard small open economy model. We show that in the presence of capital mobility in nancial markets, RB lowers the international consumption correlations by generating heterogeneous responses of consumption to income shocks across countries facing different macroeconomic uncertainty. However, the calibrated RB model cannot explain the observed consumption ...
Research Working Paper , Paper RWP 10-16

Journal Article
Economic growth in foreign regions and U.S. export growth
Taylor, Lisa; Nie, Jun (2013-04)
U.S. export growth depends crucially on foreign demand. Lower foreign economic growth is associated with lower U.S. export growth. And recently, some parts of the world, particularly Asia and Europe, have shown signs of slowing growth. ; Disaggregating historical data by region, authors Nie and Taylor measure the changes in U.S. export growth associated with changes in different regions' economic growth. They find the change in U.S. export growth associated with change in a given foreign region's growth depends both on the size of the region's economy and on the share of U.S. exports destined ...
Economic Review , Issue Q II , Pages 31-63

Journal Article
Global capital flows from China
Sly, Nicholas; Nie, Jun (2015-09-08)
Jun Nie and Nicholas Sly examine recent trends in capital flows from China and the implications for the United States.
Macro Bulletin

Journal Article
Who Benefited Most from the CARES Act Unemployment Insurance Provisions?
Fang, Lei; Xie, Zoe; Nie, Jun (2022-04-07)
The regular unemployment insurance (UI) program in the United States requires workers to have a minimum amount of earnings as well as a sufficient work history before unemployment. Low-wage workers are more likely to have a short work history before unemployment because they are more likely to be separated from their jobs. Pandemic Unemployment Assistance (PUA) under the CARES Act temporarily eliminated the requirements for minimum past earnings and length of employment, thus making many low-wage workers who were ineligible for UI under the regular program temporarily eligible. The extra ...
Policy Hub , Volume 2022 , Issue 4 , Pages 6

Journal Article
U.S.exports and foreign economic growth : which regions matter most?
Taylor, Lisa; Nie, Jun (2013-11)
U.S. export growth tends to vary with changes in different foreign regions' economic growth rates. This article estimates how much change in U.S. export growth may be associated with a rise or fall in a given region's GDP growth.
Macro Bulletin

Working Paper
Forecasting Foreign Economic Growth Using Cross-Country Data
Nie, Jun; Hakkio, Craig S. (2018-12-01)
We construct a monthly measure of foreign economic growth based on a wide range of cross-county indicators. Unlike GDP data, which are normally released with a delay of one to two quarters in most countries, our monthly measure incorporates monthly information up to the current month. As new information arrives, this measure of foreign growth can be updated as frequently as daily. This monthly measure of foreign growth not only helps gauge the economic conditions in other countries but also provides a timely measure of foreign demand to help forecast U.S. export growth.
Research Working Paper , Paper RWP 18-14

Journal Article
China’s slowing housing market and GDP growth.
Nie, Jun; Cao, Guangye (2014-08-25)
Macro Bulletin

Working Paper
Model uncertainty and intertemporal tax smoothing
Luo, Yulei; Young, Eric R.; Nie, Jun (2012)
In this paper we examine how model uncertainty due to the preference for robustness (RB) affects optimal taxation and debt structure in the Barro tax-smoothing model (1979). We first study how the government spending shocks are absorbed in the short run by varying taxes or through debt under RB. Furthermore, we show that introducing RB can improve the model?s predictions by generating (i) the observed relative volatility of the changes in tax rates to government spending and (ii) the observed comovement between government deficits and spending, and (iii) more consistent behavior of government ...
Research Working Paper , Paper RWP 12-01

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