Grants and Programs
1. National Natural Science Foundation of China for Excellent Young Scholars, Macroeconomic Theory, 2022-2024, PI (国家自然科学基金优秀青年科学基金项目).
2. National Natural Science Foundation of China for Original Exploration Program, Economic Theory of New Production Functions under Carbon Neutrality, 2023-2024, PI (国家自然科学基金原创探索计划项目).
3. National Natural Science Foundation of China for Youth, Asset Bubbles, Monetary Policy and Macro-Prudential Policy, 2020-2022, PI (国家自然科学基金青年项目).
4. Tsinghua University Spring Breeze Fund Program, Macroeconomic Implications of Covid-19 and Policy Response, 2020-2022, PI.
5. School of Economics and Management, Tsinghua University, "Influence" Enhancement Program, Asset Bubbles: Theory, Application, and Policy, 2021-2024, PI.
Publications in English
1. Aggregate Implications of Financial Frictions for Unemployment, Review of Economic Dynamics, 2023, Volume 48, pp.45-71.
2. Public Disclosure and Private Information Acquisition: A Global Game Approach, with Zhifeng Cai, Journal of Economic Theory, accepted.
3. Bubbly Bailout, with Zhiwei Xu, Journal of Economic Theory, 2022, Volume 202, 105460.
——Best Paper Award in 2022 by the China Information Economics Society.
4. Asset Bubbles and Monetary Policy, with Jianjun Miao and Pengfei Wang, Review of Economic Dynamics, Vol. 37, June 2020, S68-S98.
——Frontiers of Business Cycle Research, Volume II.
5. Adverse Selection and Self-Fulfilling Business Cycles, with Jess Benhabib and Pengfei Wang, Journal of Monetary Economics, Volume 94, April 2018, pp. 114-130.
6. Long and Plosser Meet Bewley and Lucas: Monetary Policy in Production Networks, with Yi Wen, Journal of Monetary Economics, Volume 102, April 2019, pp. 70-92.
7. Cycles of Credit Expansion and Misallocation: The Good, The Bad and The Ugly, with Zhiwei Xu, Journal of Economic Theory, Vol. 186, March 2020.
——Best Paper Award in 2020 by the China Information Economics Society.
8. The Perils of Credit Booms, with Jianjun Miao and Pengfei Wang, Economic Theory, Volume 66, December 2018, Issue 4, pp. 819–861, lead article.
9. Credit Search and Credit Cycles, with Pengfei Wang and Yi Wen, Economic Theory, Volume 61, February 2016, Issue 2, pp. 215–239, lead article.
10. A Search-Based Model of Capital Reallocation, with Pengfei Wang and Yi Wen, European Economic Review, Volume 128, July 2020.
11. A Model of Secular Migration from Centralized to Decentralized Trade, with Zhifeng Cai, Economic Theory, Vol. 72, 2021, pp. 201–244.
12. Flight to Housing in China,with Jianfeng Liu, Zhiwei Xu and Bo Zhao, Journal of Economic Dynamics and Control, 2021, Vol. 130.
13. Economic Slowdown and Housing Dynamics in China: A Tale of Two Investments by Firms, with Yumei Guo, Yuchao Peng, and Zhiwei Xu, Journal of Money, Credit and Banking, forthcoming.
14. Speculative Bubbles and Talent Misallocation, with Yandong Jia and Siqing Wang, Journal of Economic Dynamics and Control, forthcoming.
15. Bubbly Bitcoin, with Zhiwei Xu and Yu Zhang, Economic Theory, forthcoming.
16. Firm Debt and Labor Share: The distribution effect of de-leverage, with Guangjun Shen and Yang Jiao, China Economic Quarterly International, Volume 1, Issue 1, 2021, pp. 59-71.