Working papers
- "Inflation and inequality in an open-economy growth model with liquidity constraints," with Ruiyang Hu, Yibai Yang and Zhijie Zheng. (This draft: November 2023)
- "International Trade Price Stickiness and Exchange Rate Pass-through in Micro Data: A Case Study on US-China Trade," with Kim Mina, Deokwoo Nam, and Jason Wu, Globalization and Monetary Policy Institute Working Paper No. 135.
- “Long-Horizon Forecasts of Asset Prices when the Discount Factor is close to Unity,” with Charles Engel and Jason Wu, Globalization and Monetary Policy Institute Working Paper No. 36.
REFEREED JOURNAL Publications
- "Faking Trade for Capital Control Evasion: Evidence from Dual Exchange Rate Arbitrage in China," with Renliang Liu and Liugang Sheng, accepted by Journal of International Money and Finance.
- VoxChina article about this paper
- Young Scholar Award (学术新秀奖) of 2020 Beijing University PhD Academic Forum
- "Benefits of FDI subsidies: The role of funding sources," with Wontae Han and Xiao Wang. Online appendix, accepted by Pacific Economic Review.
- "FDI and firm productivity in host countries: The role of financial constraints," with Wontae Han and Xiao Wang. Online appendix, Journal of International Money and Finance, June 2022.
- VoxChina article about this paper
- "Free trade agreements partnership and value chain linkages: Evidence from China," with Dazhong Cheng and Zhiguo Xiao, The World Economy, January 2022.
- "Is Capital Flow Management Effective? Evidence Based on U.S. Monetary Policy Shocks," with Jason Wu, Journal of International Money and Finance, November 2021.
- Econbrowser article about this paper
- "Global Value Chain and Growth Convergence: Applied Especially to China," with Dazhong Cheng and Zhiguo Xiao, Pacific Economic Review, April 2020, 1-22.
- VoxChina article about this paper
- "Lottery-Related Anomalies: The Role of Reference-Dependent Preferences," with Li An, Huijun Wang, and Jianfeng Yu, Management Science, 66(1), 473-501, 2020.
- First Prize, 2016 CQAsia Conference
- "Mood Swings and Business Cycles: Evidence from Sign Restrictions," with Deokwoo Nam, Journal of Money, Credit and Banking, 51(6), 1623-49, 2019. Appendix
- Previously circulated as "Do Mood Swings Drive Business Cycles and is it Rational?" NBER Working Paper No. 17651.
- "Understanding the Effect of Productivity Changes on International Relative Prices: the Role of News Shocks," with Deokwoo Nam, Pacific Economic Review, February 2017.
- "Benefits of Foreign Ownership: Evidence from Foreign Direct Investment in China," with Xiao Wang, Journal of International Economics, 97(2), 325-338, 2015.
- 2017 Pushan Best Paper Award for World Economics
- "The Effects of Surprise and Anticipated Technology Changes on International Relative Prices and Trade," with Deokwoo Nam, Journal of International Economics, 97(1), 162-177, 2015.
- "Are Predictable Improvements in TFP Contractionary or Expansionary: Implications from Sectoral TFP?" with Deokwoo Nam Economics Letters, 124(2), 171-75, 2014. Working paper version: Globalization and Monetary Policy Institute Working Paper No.114
- “The Taylor Rule and Forecast Intervals for Exchange Rates,” with Jason Wu, Journal of Money, Credit and Banking, 44(1), 103-144, 2012.
- “Exchange Rate Pass-Through: Evidence Based on Vector Autoregression with Sign Restrictions,” with Lian An, Open Economies Review, 23(2), 359-380, 2012.
- “International Trade in Durable Goods: Understanding Volatility, Comovement, and Elasticities,” with Charles Engel, Journal of International Economics, 83(1), 37-52, 2011. Technical Appendix
- “Home Bias, Exchange Rate Disconnect, and Optimal Exchange Rate Policy,” Journal of International Money and Finance, 29, 55-78, 2010. Technical Appendix
- “Favorite Son? Specialized Child Laborers and Students in Poor LDC Households,” with Andrew W. Horowitz, Journal of Development Economics, 73, 631-42, 2004.
Other Publications
- "Foreign Direct Investment: Financial Benefits Could Surpass Gains in Technology," Economic Letter, Vol 10, No. 9, October 2015, Federal Reserve Bank of Dallas.
- "Understanding Trade, Exchange Rates and International Capital Flows," Federal Reserve Bank of Dallas, Globalization and Monetary Policy Institute 2014 Annual Report.
- "Micro-Foundations of International Trade, Global Imbalances and Implications on Monetary Policy," Federal Reserve Bank of Dallas, Globalization and Monetary Policy Institute 2014 Annual Report.
- "China’s Sputtering Housing Boom Poses Broad Economic Challenge," Economic Letter, Vol 9, No. 9, August 2014, Federal Reserve Bank of Dallas.
- "Conference on International Capital Flows and Safe Assets," Federal Reserve Bank of Dallas, Globalization and Monetary Policy Institute 2013 Annual Report.
- “Asia Recalls 1997 Crisis as Investors Await Fed Tapering,” with Janet Koech and Helena Shi, Economic Letter, Vol 8, No. 10, October 2013, Federal Reserve Bank of Dallas.
- "Gauging International Shocks and Their Implications," Federal Reserve Bank of Dallas, Globalization and Monetary Policy Institute 2012 Annual Report.
- "China's Slowdown May Be Worse Than Official Data Suggest," with Janet Koech, Economic Letter, Vol 7, NO. 8, August 2012, Federal Reserve Bank of Dallas.
- Media Report by Wall Street Journal and Dow Jones
- “Exchange Rate Pass-Through Into U.K. Import Prices: Evidence from Disaggregated Data” With Haroon Mumtaz and Ozlem Oomen, Staff Papers, Federal Reserve Bank of Dallas, No. 14, June 2011.
- "With Reforms in China, Time May Correct U.S. Current Account Imbalance," Economic Letter, Vol 6, NO. 1, January 2011, Federal Reserve Bank of Dallas.
- Media Report by Wall Street Journal
- "Durable Goods and the Collapse of Global Trade," Economic Letter, Vol 5, NO. 2, February 2010, Federal Reserve Bank of Dallas.
- Media Report by Econbrowser
- "Why Are Exchange Rates So Difficult to Predict?," Economic Letter, Vol 3, NO. 6, June 2008, Federal Reserve Bank of Dallas.
- Media Report by the Economist's View also see the RGE Monitor
- Media Report by Dow Jones
- "Understanding Exchange Rates as Asset Prices," VoxEU, September 5, 2008.