@article{chen2024exorbitant,
  title={Exorbitant privilege gained and lost: Fiscal implications},
  author={Chen, Zefeng and Jiang, Zhengyang and Lustig, Hanno and {Van Nieuwerburgh}, Stijn and Xiaolan, Mindy Z},
  year={2024},
  journal={Journal of Political Economy},
  volume={forthcoming}
}