Grace Li

My name is Grace Li. I am currently a Research Scientist at Department of Economics, Virginia Tech. Here is my Google Citation Link.

Research Interest

    Labor Economics, with emphasis on incentives for migration, wage distribution, labor market choices and educational impact;

    Applied Microeconomics, with emphasis on bank failure, banking regulations, informational transparency, credit worthiness and default behavior;


Clemson University Clemson, SC                                                                             PhD in Economics, Aug 2010 

University of Wyoming – Laramie, WY                                                                         MSC in Finance, May 2006   

the London School of Economics – London, UK                                                        MSC in Economics, May 2004                    

Beijing Technology and Business University – Beijing, China                                  BSC in International Trade and Economics, May 2003     

Professional Experiences            

Department of Economics, Virginia Tech. – Blacksburg, VA                                   Jan 2012 – present                                                                           

Visiting Assistant Professor

Resurgent Capital Services Inc. – Greenville, SC                                                      May 2010 – Dec 2011                                                                           

Applied Statistician II, I

Published Papers

1. "Forecasting Bank Failures: Timeliness versus Number of Failures"

    with Sherill Shaffer and Lee Sanning, Applied Economics Letters, Volume 18, Issue 16, 2011

2. “Expected Income and Labor Market Choices of U.S. Married Couples: A Locally Weighted Regression Approach" 

    with Thomas A. Mroz, Regional Science and Urban Economics, Volume 43, Issue 6, 2013

3. “Re-Examining the Impact of Housing Wealth and Stock Wealth on Household Spending:  Does Persistence in Wealth Changes Matter? "

    with Richard Ashley, Journal of Housing Economics, Volume 26, Pages 109 –118, 2014

Working Papers

1. “Reciprocal Brokered Deposits, Bank Risk, and Recent Deposit Insurance Policy "

   (with Sherrill Shaffer, R&R at North American Journal of Economics and Finance)

2. “Migration and Child Educational Production: Aggregated vs. Disaggregated Resource Modeling"

   (with Thomas A. Mroz, submitted)

3. “Regional Financial Development and Financing Constraints in R&D Investments: A Panel Study of Chinese High-Tech Firms"

   (with Jie Hu, R&R at China Economic Review)

4. “Tiebout Forces, Public School Competition and Educational Policy"(submitted)

Work in Progress

1. “A Longitudinal Analysis of Family Migration and Child Educational Performance" (with Haiyong Liu)

2. “Reciprocal Brokered Deposits: Does It Increase Bank Risk, or Simply Reflects It?" (with Sherrill Shaffer and Lakshmi Balasubramanyan)

4. “Financial Development and Technology Innovation: Does Industry Characteristic Matter?" (with Jie Hu)

5. “Food Expenditures, Parental Time Allocation and Childhood Overweight: New Empirical Evidences"


1. Virginia Tech, Department of Economics Undergraduate Courses:

Analysis of Economic Data (ECON 3254), Spring 2015, Fall 2014, Spring 2014, Spring 2012

Principal of Macroeconomics (ECON 2006), Fall 2013 

International Economics (ECON 4136), Spring 2013, Fall 2012

2. Clemson University, College of Business Undergraduate Courses:

Lab Instructor for Principle of Macroeconomics (ECON 212), Spring 2010

Lab Instructor for Principle of Microeconomics (ECON 211), Fall 2009

Conference Presentations

          Southern Economic Association Annual Conference, Tampa, FL in Nov. 2013; 

          Midwest Economic Association Annual Conference, Chicago, IL in Mar. 2014;

          Society of Labor Economists Annual Conference, Washington DC in May, 2014;

          2014 North American Summer Meeting of the Econometric Society, Minneapolis, MN in June, 2014;

          Global Innovation Economic Congress 2014, Da Lian, Liao Ning, China in June, 2014;

Referee Services

          I am currently a reviewer for Review of Economics and Statistics, Journal of Housing Economics, and Review of Economics and Finance.


          Virginia Tech CIDER Teacher of the Week, 2013

         "Creative Chicken" Award, Resurgent Capital Services, 2011

          Hugh H. Macaulay Award for Outstanding First Year Graduate Student, Clemson University, 2007

Professional Memberships

          American Economic Association, the Econometric Society, the Society of Labor Economists, Southern Economic Association, Midwest Economic Association