Research

[17] The Macroeconomics of Capital Durability, with Hui-Jun Chen, Spyridon Gkikopoulos, and Chi-Yang Tsou (Available Upon Request)

[16] The Economics of Pollution Abatement Over the Life Cycle of Firms, with Hui-Jun Chen, Po-Hsuan Hsu, and Chi-Yang Tsou

[15] Incomplete Information and Irreversible Investment, with Jonathan Adams, Cheng Chen, Takahiro Hattori, and Eugenio Rojas

[14] Debt Covenants as Macroeconomic Stabilizers, with Wentao Zhou

[13] The Inventory Decelerator for Monetary Policy, with Wentao Zhou

[12] Innovative Human Capital and Stock Returns: A Global Perspective, with Po-Hsuan Hsu, Hanni Jie, and Yan Xu 

[11] Financing Innovation with Innovation: Patent Collateral in China, with Zhiyuan Chen, Minjie Deng, and Yunzhou Shang 

[10] Place-based Land Policy and Firm Productivity: Evidence from China, with Libin Han, Zibin Huang, Ming Lu, and Li Zhang 

[09] Lumpy Investment, Fluctuations in Volatility and Monetary Policy, with Wentao Zhou

Review of Economic Studies, Rej&R (1st Round Revising)

[08] Short-term Finance, Long-term Effects, with Kenza Benhima, Omar Chafik, and Wenxia Tang

Journal of Political Economics Macroeconomics, R&R (1st Round Revising)

[07] Monetary Policy and Firm Heterogeneity: The Role of Leverage Since the Financial Crisis, with Aeimit Lakdawala and Timothy Moreland

Management Science, R&R (2nd Round Resubmitted)

[06] Sex and the City: Demographics, Spatial Sorting, and the Marriage Market, with Zibin Huang, Yushi Wang, and Yu Yang

International Economic Review, Special Issue (Accepted for PHBS-IER Conference)

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

with Libin Han, Zibin Huang, Ming Lu, and Li Zhang | links: [ssrn] [slides]

International Economic Review, Accepted

[04] The Rise of AI Pricing: Trends, Driving Forces, and Implications for Firm Performance

with Jonathan Adams, Zheng Liu, and Yajie Wang | links: [doi] [ssrn] [slides]

Journal of Monetary Economics,  January 2026, Volume 157: 103875

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

solo author | links: [doi] [ssrn] [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] [ssrn] [slides]

Labour Economics, October 2022, Volume 78: 102200

[01] Debt Maturity Heterogeneity and Investment Responses to Monetary Policy

with Minjie Deng | links: [doi] [ssrn] [slides] [codes]

European Economic Review, May 2022, Volume 144: 104095

[10] "Banks and the State-Dependent Effects of Monetary Policy" by Eichenbaum, Puglisi, Rebelo, and Trabandt

Midwest Finance Association Annual Meeting (MFA Chicago), March 2026

[09] "Can Growth Stabilize Debt? A Fiscal Theory Perspective" by M. Elfsbacka-Schmöller and N. McClung

New Challenges for Fiscal and Monetary Policy (UMiami), February 2025

[08] "Aggregate Demand and Irreversible Investment" by Lintong Li

The 5th China International Conference in Macroeconomics (CUHK), June 2024

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

The 17th Urban Economics Association (Toronto), July 2023

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

The 2023 China International Conference in Finance (Shanghai), July 2023

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

The 2023 ASSA Annual Meetings (New Orleans), January 2023

[04] "Collateral Quality and House Prices" by Jing Zhou

The 4th China International Conference in Macroeconomics (Shenzhen), June 2022

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

The 10th European Meeting of the Urban Economics Association (Copenhagen), April 2021

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

The 2021 ASSA Annual Meetings (Chicago), January 2021

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

The 2020 Young Economist Symposium (UPenn),  August, 2020

[02] Gator Macroeconomics Workshop, University of Florida, April 2025

[01] Bradbury Lecture in International Economics by Prof. Narayana Kocherlakota, April 2025

[03] Sex and the City: Demographics, Spatial Sorting, and the Marriage Market

VoxChina: A Bridge on Economic Issues between China and the World, To Appear Soon

[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