Research

With Manuscript

10. Pollution Abatement Investment under Financial Frictions and Policy Uncertainty

      with Po-Hsuan Hsu and Chi-Yang Tsou (Covered in The FinReg Blog)

      revising/updates soon


09. Short-term Finance, Long-term Effects: Evidence from a Moroccan Credit Guarantee Program

      with Kenza Benhima, Omar Chafik, and Wenxia Tang 

      revising/updates soon


08. Debt Dilution, Debt Covenants, and Macroeconomic Fluctuations

      with Wentao Zhou 

      initial draft on 2023/10


07. Financing Innovation with Innovation

      with Zhiyuan Chen and Minjie Deng

      revising/updates soon


06. Place-based Land Policy and Firm Productivity: Evidence from China’s Coastal-Inland Regional Border

      with Libin Han, Zibin Huang, Ming Lu, and Li Zhang  (Supplementary to FHHLZ'22)

      initial draft on 2024/02

Under Revision

05. Place-based Land Policy and Spatial Misallocation: Theory and Evidence from China

      with Libin Han, Zibin Huang, Ming Lu, and Li Zhang (Covered in VoxChina; Supplementary: FHHLZ'24)

      reject/revise at International Economic Review


04. Lumpy Investment, Fluctuations in Volatility and Monetary Policy

      Sole Author (Job Market Paper)

      reject/revise at Review of Economic Studies

Publications

03. A Note on Nonconvex Adjustment Costs in Lumpy Investment Models: Mean versus Variance

  Sole Author | Links: [doi] [working paper] [codes]

  Macroeconomic Dynamics, June 2023, Volume 27, Issue 4, pp.1166-1177


02. Migration, Housing Constraints, and Inequality: A Quantitative Analysis of China

  with Zibin Huang | Links: [doi] [working paper] [slides] [online appendix]

  Labour Economics, October 2022, Volume 78: 102200 (Lead Article: Special Issue of AASLE 2021)


01. Debt Maturity Heterogeneity and Investment Responses to Monetary Policy

      with Minjie Deng | Links: [doi] [working paper] [slides] [codes] [online appendix]

  European Economic Review, May 2022, Volume 144: 104095

In Progress

04. What Do Alibaba Data Tell Us about Inflation and Quality Growth in China?

      with Mark Bils, Zibin Huang, and Ming Lu


03. Development Zones in Space: Theory and Evidence from China

      with Binkai Chen, Zibin Huang, Ming Lu, Christopher Timmins, and Kuanhu Xiang


02. Unequal Debt Crisis: Sovereign Default Risk and (Wealth) Inequality

      with Minjie Deng, Philipp Renner, and Simon Scheidegger


01. Conglomerate Market Power

      with Xiaomei Sui

Ph.D. Research Training (projects under the lead by our great students!)

03. Quantifying Inflation and Quality Growth in China: 1986 — 2015

      with Qilin Zhang (leading) and Yuchen Zhu


02. Monetary Policy and Lumpy Innovation Dynamics

      with Qiushi Hua (leading) 


01. Gender-biased Dynastic Precautionary Savings: Evidence from China

      with Qilin Zhang (leading) and Yuchen Zhu

Media Coverage

02. Financial Frictions and Policy Uncertainty Matter for Pollution Abatement Investment

      The FinReg Blog: By the Duke Financial Economics Center, April 2023


01. Does China’s Place-Based Land Policy Lead to Spatial Misallocation?

      VoxChina: A Bridge on Economic Issues between China and the World, November 2021

Discussions

07. "Local Leaders’ Hometown Connections and Spatial Development" by Xiangyu Shi

      2023/10 | The 17th Urban Economics Association (Toronto)


06. "Too Levered for Pigou" by Robin Dottling and Magdalena Rola-Janicka

      2023/07 | The 2023 China International Conference in Finance (Shanghai)


05. "Endogenous Economic Structure, Climate Change, and the Optimal Abatement Path" by H. Liao and H. Ye

      2023/01 | The 2023 ASSA Annual Meetings (New Orleans)


04. "Collateral Quality and House Prices" by Jing Zhou

      2022/06 | The 4th China International Conference in Macroeconomics (Shenzhen)


03. "The Real Estate Consequences of Repatriations" by Gustavo Cortes and Vinicios Sant’Anna

      2021/04 | The 10th European Meeting of the Urban Economics Association (Copenhagen)


02. "College Location and Migration" by Shu Cai, Xiaozhou Ding, and Rui Du

      2021/01 | The 2021 ASSA Annual Meetings (Chicago)


01. "Entrepreneurship, Financial Frictions, and the Market for Firms" by Rafael Guntin and Federico Kochen

      2020/08 | The 2020 Young Economist Symposium (UPenn)