Dr Xiaoshan Chen's Outputs (2)

Asset Prices, Credit and Business Cycles. (2012)
Journal Article
Chen, X., Kontonikas, A., & Montagnoli, A. (2012). Asset Prices, Credit and Business Cycles. Economics Letters, 117(3), 857-861. https://doi.org/10.1016/j.econlet.2012.08.040

This paper uses the multivariate unobserved components model with phase shifts to analyse the interaction of interest rates, output, asset prices and credit in the US. We find close linkages amongst cyclical fluctuations in the variables.

Realized and Optimal Monetary Policy Rules in an Estimated Markov-Switching DSGE Model of the United Kingdom. (2012)
Journal Article
Chen, X., & MacDonald, R. (2012). Realized and Optimal Monetary Policy Rules in an Estimated Markov-Switching DSGE Model of the United Kingdom. Journal of Money, Credit and Banking, 44(6), 1091-1116. https://doi.org/10.1111/j.1538-4616.2012.00524.x

This paper investigates underlying changes in the UK economy over the past 35 years using a small open economy dynamic stochastic general equilibrium model. Using Bayesian analysis, we find UK monetary policy, nominal price rigidity and exogenous sho... Read More about Realized and Optimal Monetary Policy Rules in an Estimated Markov-Switching DSGE Model of the United Kingdom..