Embedded Files
Working Papers
14. The Rise of AI Pricing: Trends, Driving Forces, and Implications for Firm Performance
with Jonathan Adams, Zheng Liu, and Yajie Wang
Journal of Monetary Economics, Consolidated (Carnegie-Rochester-NYU Conference)
13. Place-based Land Policy and Spatial Misallocation: Theory and Evidence from China
with Libin Han, Zibin Huang, Ming Lu, and Li Zhang | VoxChina
International Economic Review, 2nd Round R&R
12. Monetary Policy and Firm Heterogeneity: The Role of Leverage Since the Financial Crisis
with Aeimit Lakdawala and Timothy Moreland
Management Science, 2nd Round R&R
11. Short-term Finance, Long-term Effects
with Kenza Benhima, Omar Chafik, and Wenxia Tang
Journal of Political Economy Macroeconomics, R&R
10. Lumpy Investment, Fluctuations in Volatility and Monetary Policy
sole author (Job Market Paper@Rochester)
Review of Economic Studies, Rej&R
09. Financial Frictions and Pollution Abatement Over the Life Cycle of Firms
with Po-Hsuan Hsu and Chi-Yang Tsou | The FinReg Blog
updated on 2024/10
08. Incomplete Information and Investment Inaction
with Jonathan Adams, Cheng Chen, Takahiro Hattori, and Eugenio Rojas
updated on 2024/12
07. Debt Covenants as Macroeconomic Stabilizers
with Wentao Zhou
updated on 2023/10
06. The Inventory Decelerator for Monetary Policy
with Wentao Zhou
updated on 2025/04
05. Place-based Land Policy and Firm Productivity: Evidence from China’s Eastern-Inland Regional Border
with Libin Han, Zibin Huang, Ming Lu, and Li Zhang
updated on 2024/08
04. Financing Innovation with Innovation: A Quantitative Analysis of Patent Collateral in China
with Zhiyuan Chen and Minjie Deng
updated on 2024/04
Publications
03. A Note on Nonconvex Adjustment Costs in Lumpy Investment Models: Mean versus Variance
sole 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
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
09. "Can Growth Stabilize Debt? A Fiscal Theory Perspective" by M. Elfsbacka-Schmöller and N. McClung
2025/02 | New Challenges for Fiscal and Monetary Policy (UMiami)
08. "Aggregate Demand and Irreversible Investment" by Lintong Li
2024/06 | The 5th China International Conference in Macroeconomics (CUHK)
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)
2020/08 | The 2020 Young Economist Symposium (UPenn)
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