Calvin Zhang

Learn More
  • Atif Mian, Kamalesh Rao, Mastercard Advisors, Amir Sufi, Lucy Hu, Ernest Liu +3 others
  • 2011
We show that the 2007-09 housing collapse in the United States resulted in a very unequal distribution of wealth shocks due to the geographical concentration of ex-ante leverage and house price decline. We investigate the consumption consequences of these wealth shocks and show that the consumption risk-sharing hypothesis is easily rejected. We estimate an(More)
  • Michael Faulkender, Mitchell Petersen, Jerry Hoberg, Vojislav Maksimovic, David Matsa, Gordon Phillips +12 others
  • 2011
The American Jobs Creation Act (AJCA) significantly lowered US firms' tax cost when accessing their unrepatriated foreign earnings. Using this temporary shock to the cost of internal financing, we examine the role of capital constraints in firms' investment decisions. Controlling for the capacity to repatriate foreign earnings under the AJCA, we find that a(More)
A fundamental challenge in neuroscience is to understand how biologically salient motor behaviors emerge from properties of the underlying neural circuits. Crayfish, krill, prawns, lobsters, and other long-tailed crustaceans swim by rhythmically moving limbs called swimmerets. Over the entire biological range of animal size and paddling frequency, movements(More)
We examine the phase response properties of half-center oscillators (HCOs) that are modeled by a pair of Morris-Lecar-type neurons connected by strong fast inhibitory synapses. We find that the two basic mechanisms for half-center oscillations, “release” and “escape”, give rise to strikingly different phase response curves (PRCs). Release-type HCOs are most(More)
The probabilistic nature of neurotransmitter release in synapses is believed to be one of the most significant sources of noise in the central nervous system. We show how p0, the probability of release per docked vesicle when an action potential arrives, affects the dynamics of the rate of vesicle release in response to changes in the rate of arrival of(More)
  • 1