 | Assessing Macro-Financial Risks of Household Debt in China Author/Editor: Fei Han, Emilia M Jurzyk, Wei Guo, Yun He, Nadia Rendak. Release Date:November, 2019 High household indebtedness could constrain future consumption growth and increase financial stability risks. This paper uses household survey data to analyze both macroeconomic and finanical more...
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 | Integrating Solvency and Liquidity Stress Tests: The Use of Markov Regime-Switching Models Author/Editor: Fei Han, Mindaugas Leika. Release Date:November, 2019 The paper presents a framework to integrate liquidity and solvency stress tests. An empirical study based on European bond trading data finds that asset sales haircuts depend on the total amount of more...
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 | Anatomy of Sudden Yen Appreciations Author/Editor: Fei Han, Niklas J Westelius. Release Date:July, 2019 The yen is an important barometer for the Japanese economy. Depreciations are typically associated with favorable economic developments such as increased corporate profits, rising equity prices, and more...
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 | Demographics and the Natural Rate of Interest in Japan Author/Editor: Fei Han. Release Date:February, 2019 Japan’s aging and shrinking population could lower the natural rate of interest and, together with low inflation expectations, challenge the Bank of Japan’s efforts to reflate the economy. This more...
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 | Scarcity Effects of Quantitative Easing on Market Liquidity: Evidence from the Japanese Government Bond Market Author/Editor: Fei Han, Dulani Seneviratne. Release Date:May, 2018 Quantitative easing could improve market liquidity through many channels such as relaxing bank funding constraints, increasing risk appetite, and facilitating trades. However, it can also reduce more...
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 | Credit Expansion in Emerging Markets : Propeller of Growth? Author/Editor: Mercedes Garcia-Escribano, Fei Han. Release Date:September, 2015 This paper explores the contribution of credit growth and the composition of credit portfolio (corporate, consumer, and housing credit) to economic growth in emerging market economies (EMs). Using more...
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 | Measuring External Risks for Peru: Insights from a Macroeconomic Model for a Small Open and Partially Dollarized Economy Author/Editor: Fei Han. Release Date:September, 2014 This paper quantifies the effects of external risks for Peru, with particular attention to two major external risks, China’s investment slowdown and the U.S. monetary policy tightening. In more...
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 | What Drives Credit Growth in Emerging Asia? Author/Editor: Selim Elekdag, Fei Han. Release Date:February, 2012 This paper seeks to uncover the main drivers of credit growth in emerging Asia using a multi-country structural vector autoregressive (SVAR) model. Taking a novel approach, we developed a two-block more...
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