WorldCat Identities

Bai, Yan

Overview
Works: 188 works in 242 publications in 2 languages and 615 library holdings
Genres: Fiction 
Roles: Author, Editor, Translator
Classifications: PL2892.A428, 641.5951
Publication Timeline
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Most widely held works about Yan Bai
 
Most widely held works by Yan Bai
Sovereign default risk and firm heterogeneity by Cristina Arellano( )

5 editions published in 2017 in English and held by 65 WorldCat member libraries worldwide

This paper studies the recessionary effects of sovereign default risk using firm-level data and a model of sovereign debt with firm heterogeneity. Our environment features a two-way feedback loop. Low output decreases the tax revenues of the government and raises the risk that it will default on its debt. The associated increase in sovereign interest rate spreads, in turn, raises the interest rates paid by firms, which further depresses their production. Importantly, these effects are not homogeneous across firms, as interest rate hikes have more severe consequences for firms that are in need of borrowing. Our approach consists of using these cross-sectional implications of the model, together with micro data, to measure the effects that sovereign risk has on real economic activity. In an application to Italy, we find that the progressive heightening of sovereign risk during the recent crisis was responsible for 50% of the observed decline in output
Financial frictions and fluctuations in volatility by Cristina Arellano( )

5 editions published between 2012 and 2017 in English and held by 50 WorldCat member libraries worldwide

During the recent U.S. financial crisis, the large decline in aggregate output and labor was accompanied by both a tightening of financial conditions and a large increase in the dispersion of growth rates across firms. The tightened financial conditions manifested themselves as increases in firms' credit spreads and decreases in both equity payouts and debt purchases. These features motivate us to build a model in which increased volatility of firm level productivity shocks generates a downturn and worsened credit conditions. The key idea in the model is that hiring inputs is risky because financial frictions limit firms' ability to insure against shocks. Hence, an increase in idiosyncratic volatility induces firms to reduce their inputs to reduce such risk. We find that our model can generate most of the decline in output and labor in the Great Recession of 2007-2009 and the observed tightening of financial conditions
Sovereign risk contagion by Cristina Arellano( )

4 editions published in 2017 in English and held by 48 WorldCat member libraries worldwide

We develop a theory of sovereign risk contagion based on financial links. In our multi-country model, sovereign bond spreads comove because default in one country can trigger default in other countries. Countries are linked because they borrow, default, and renegotiate with common lenders, and the bond price and recovery schedules for each country depend on the choices of other countries. A foreign default increases the lenders' pricing kernel, which makes home borrowing more expensive and can induce a home default. Countries also default together because by doing so they can renegotiate the debt simultaneously and pay lower recoveries. We apply our model to the 2012 debt crises of Italy and Spain and show that it can replicate the time path of spreads during the crises. In a counterfactual exercise, we find that the debt crisis in Spain (Italy) can account for one-half (one-third) of the increase in the bond spreads of Italy (Spain)
Default risk, sectoral reallocation, and persistent recessions by Cristina Arellano( )

5 editions published in 2017 in English and held by 46 WorldCat member libraries worldwide

Sovereign debt crises are associated with large and persistent declines in economic activity, disproportionately so for nontradable sectors. This paper documents this pattern using Spanish data and builds a two-sector dynamic quantitative model of sovereign default with capital accumulation. Recessions are very persistent in the model and more pronounced for nontraded sectors because of default risk. An adverse domestic shock increases the likelihood of default, limits capital inflows, and thus restricts the ability of the economy to exploit investment opportunities. The economy responds by reducing investment and reallocating capital toward the traded sector to support debt service payments. The real exchange rate depreciates, a reflection of the scarcity of traded goods. We find that these mechanisms are quantitatively important for rationalizing the experience of Spain during the recent debt crisis
Gu dian yin yue jia man tan by Zhongtanggao{27586d}( Book )

1 edition published in 1996 in Chinese and held by 17 WorldCat member libraries worldwide

Jiu yi ba di guo meng nei mu : Liutiaohu li shi da bao zha zhi mi by Yan Bai( Book )

4 editions published in 1997 in Chinese and held by 15 WorldCat member libraries worldwide

Si xiang gai zao fan li by Yan Bai( Book )

2 editions published in 1949 in Chinese and held by 13 WorldCat member libraries worldwide

Hao lao po de zhou mo si fang cai by Yan Bai( Book )

2 editions published in 2007 in Chinese and held by 12 WorldCat member libraries worldwide

Do financial frictions explain Chinese firms' saving and misallocation? by Yan Bai( )

2 editions published in 2018 in English and held by 12 WorldCat member libraries worldwide

We use firm-level data to identify financial frictions in China and explore the extent to which they can explain firms' saving and capital misallocation. We first document the features of the data in terms of firm dynamics and debt financing. State-owned firms have higher leverage and pay much lower interest rates than non-SOEs. Among privately owned firms, smaller firms have lower leverage, face higher interest rates, and operate with a higher marginal product of capital. We then develop a heterogeneous-firm model with two types of financial frictions, default risk, and a fixed cost of issuing loans. Our model generates endogenous borrowing constraints as banks consider the firm's productivity, asset, and debt when providing a loan. Using evidence on the firm size distribution and financing patterns, we estimate the model and find it can explain aggregate firms' saving and investment and around 50 percent of the dispersion in the marginal product of capital within private firms, which translates into a TFP loss as high as 12%
Si shi ba jie yin shi bao jian by Jingwu Xu( Book )

4 editions published in 1988 in Chinese and held by 10 WorldCat member libraries worldwide

Ben shu yi yue fen wei xu, Gong fen 12 bu fen, Mei bu fen you she"jie muJie ling", "yin shiShi xian", "qing quHua shi", "bao jianYang sheng"4 xiao jie. Quan shu yi bao jian yang sheng nei rong wei zhu xian guan chuan shi mo, Bao kuo shen me shi hou chi shen me, You na xie jie ling huo dong, Ying yu fang na xie shi ling bing deng deng
Qujing min ying jing ji yan jiu( )

1 edition published in 2015 in Chinese and held by 9 WorldCat member libraries worldwide

Detailed summary in vernacular field only
Sheng mu Mazu( Book )

2 editions published in 1977 in Chinese and held by 9 WorldCat member libraries worldwide

Zhongguo gong chan dang fu nü gan bu pei yang jiao yu yan jiu = Research on cultivation and education of women cadres of Chinese communist party by Yan Bai( Book )

2 editions published in 2012 in Chinese and held by 9 WorldCat member libraries worldwide

Shen qi zhan zhang gong : Bai Yan jiao ni wei fu zhen dong zi jiu shu : 3 fen zhong qi tong, chu bing gen, qi yu bai bing! by Yan Bai( Book )

1 edition published in 2018 in Chinese and held by 8 WorldCat member libraries worldwide

3 fen zhong lan ren qi gong fa : qiang jiu ni de jian kang wei ji by Yan Bai( Book )

3 editions published between 2006 and 2009 in Chinese and held by 7 WorldCat member libraries worldwide

Gan wu sheng ming : yi wei bu xing nu hai de xing yun gu shi by Yan Bai( Book )

2 editions published in 2000 in Chinese and held by 6 WorldCat member libraries worldwide

Ke ting, men ting, can ting zhuang xiu yi ben tong = Sitting room, hallway, dining hall by Jing Zhang( Book )

2 editions published in 2000 in Chinese and held by 6 WorldCat member libraries worldwide

Min shi gong yi su song li lun wen ti yan jiu = A study on theoretical issues in civil public interest litigation by Yan Bai( Book )

1 edition published in 2016 in Chinese and held by 5 WorldCat member libraries worldwide

Zui yin mou : Shi jie shang zui shen mi de quan shi ju le bu by Wenkui Lin( Book )

2 editions published in 2011 in Chinese and held by 5 WorldCat member libraries worldwide

Ben shu zai zhen shi xin xi ji chu shang, Jie mi bi de bo ge ju le bu de chuang li mu de he fa zhan li shi, Yu du zhe fen xiang ge ge ling yu de jing ying ren shi dui bi de bo ge ju le bu de ping jia, Shi du zhe dui zhei ge bu tong fan xiang de ju le bu de li shi you suo le jie, Bing qie neng gou zheng que di ren shi dang jin shi jie de fa zhan xing shi
Gui fan, de xing, de xing : Dong tai lun li dao de ti xi de shi jian xing yan jiu by Shiwei Yu( Book )

2 editions published in 2009 in Chinese and held by 5 WorldCat member libraries worldwide

Ben shu gong fen 6 ge zhang jie, Nei rong bao kuo:de xing ti xi zhong de dao de gui fan ji qi nei hua tiao jian, Ying xiang de xing jian gou de xin li fen xi, De xing yu gui fan xiang tong yi de dao de shi jian, De xing yu de xing de fu za shi jian guan xi, Dong tai ti xi zhong de"gui fan- de xing- de xing"de lun li shi jian deng
 
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Audience Level
0
Audience Level
1
  Kids General Special  
Audience level: 0.69 (from 0.51 for Shen qi zh ... to 0.90 for Si shi ba ...)

Languages
Chinese (34)

English (21)