An, Zhiyong (安志勇)

Ph.D. in Economics from University of California at Berkeley (May 2007) 

Contact Information

 Research Interests

  • Public Economics
  • Financial Economics
  • Applied Microeconomics
  • Chinese Economy
 Teaching (Note: The Teaching language of the following courses is English)
  • Public Economics (Undergraduate, Master, and PhD)
  • Microeconomics (Undergraduate and Master)
  • Principles of Economics (Undergraduate)
Academic Journal Articles (in English)
  1. An, Zhiyong, "A Proposal to Reform the Size-Based Policies of China's VAT," Tax Notes International, 2018, 89(2), 169-170 (Download).
  2. An, Zhiyong, "Policy and Taxable Income Elasticity: A Comment on Hendren," Tax Notes, 2017, 157(10), 1449-1551 (Download).
  3. An, Zhiyong, "The Debate over U.S. Corporate Tax Reform: How should China Respond?" Tax Notes International, 2017, 86(9), 819-823 (Download).
  4. An, Zhiyong, "Private Property Rights and Capital Structure: Empirical Evidence from the 2004 Constitutional Amendment in China" Journal of Institutional and Theoretical Economics, 2017, 173(3), 454-469 (Download).
  5. An, Zhiyong, "A New Comparison between Ad Valorem and Unit Taxation in a Monopoly," Tax Notes, 2017, 155(10), 1461-1463 (Download).
  6. An, Zhiyong, "When Preferences Differ: ETI Insufficient to Calculate DWL," Tax Notes, 2017, 155(6), 825-827. (Download).
  7. An, Zhiyong, "A Note on the Puzzle of the Standard Model of Tax Compliance," Tax Notes, 2017, 154(1), 143-145. (Download).
  8. An, Zhiyong, "How Should the Government Address the Concern for Relative Consumption in Housing: Property Tax or Income Tax?" Journal of Housing Research, 2016, 25(1), 105-113. (Download).
  9. An, Zhiyong, "On the Sufficiency of Using the Elasticity of Taxable Income to Calculate Deadweight Loss: the Implications of Charitable Giving and Warm Glow," International Tax and Public Finance, 2015, 22(6), 1040-1047. (Download).
  10. An, Zhiyong, and Zhiwei Chong, "Debt Centralization and Soft Budget Constraint," Public Finance and Management, 2015, 15(2), 153-164.(Download)
  11. An, Zhiyong, "A Note on Voting over Taxes with Tax Avoidance," FinanzArchiv/Public Finance Analysis, 2015, 71(3), 407-414.(Download)
  12. An, Zhiyong, and Congyan Tan, "Taxation and Income Shifting: Empirical Evidence from a Quasi-Experiment in China," Economic Systems, 2014, 38(4), 588-596. (Download)
  13. An, Zhiyong, "Taxation and Debt Maturity: Empirical Evidence from a Quasi-Experiment in China," Journal of Multinational Financial Management, 2014, 25-26, 21-29. (Download)
  14. An, Zhiyong, Ping Cheng, Zhenguo Lin, and Yingchun Liu, "How do Market Conditions Impact Price-TOM Relationship? Empirical Evidence from Real Estate Owned (REO) Sales," Journal of Housing Economics, 2013, 22(3), 250-263. (Download)
  15. An, Zhiyong, "Private Property Rights, Investment Patterns, and Asset Structure," Economics & Politics, 2013, 25(3), 481-495.  (Download).
  16. An, Zhiyong, "An Alternative Approach to Income Taxation," Economic Modelling, 2013, 30(1), 875-878. (Download)
  17. An, Zhiyong, "Taxation and Capital Structure: Empirical Evidence from a Quasi-Experiment in China," Journal of Corporate Finance, 2012, 18(4), 683-689. (Download)
  18. An, Zhiyong, and Congyan Tan, "Are the Government-Sponsored Enterprises (GSEs) Justified?," Housing Policy Debate, 2012, 22(2), 133~139. (Download)
    • von Furstenberg, George M., "Comment on 'Are the Government-Sponsored Enterprises (GSEs) Justified?'," Housing Policy Debate, 2012, 22(2), 141~147.(Download)
    • Gould Ellen, Ingrid, and Mark Willis, "Comments on 'Are the Government-Sponsored Enterprises (GSEs) Justified?'," Housing Policy Debate, 2012, 22(2), 149-152.(Download)
  19. An, Zhiyong, "Taxation and Foreign Direct Investment (FDI): Empirical Evidence from a Quasi-Experiment in China," International Tax and Public Finance, 2012, 19(5), 660-676. (Download)
  20. An, Zhiyong, "An Indirect Approach to Estimate the Jumbo-Conforming Spread," Journal of Fixed Income, 2010, 20(1), 59~66.(Download)
  21. An, Zhiyong, "Stigma, Optimal Income Taxation, and the Optimal Welfare Program: A Numerical Simulation Approach," Public Finance Review, 2010, 38(1), 102~119. (Download)
  22. An, Zhiyong, "Aggregate Price Stickiness," Annals of Economics and Finance, 2009, 10(1), 15~28. (Download)
  23. An, Zhiyong, “Regressive State Tax Systems: Facts, Several Possible Explanations, and Empirical Evidence,” National Tax Association Proceedings, 14~23, 2008. (Download)
  24. An, Zhiyong, “Identity and Tax Evasion,” National Tax Association Proceedings, 50~63, 2006. (Download)
  25. Bloomquist, Kim M., and Zhiyong An, “Geographic Variation in Schedule H Filing Rates: Why should Location Influence the Decision to Report ‘Nanny’ Taxes?” National Tax Association Proceedings, 26~39, 2005. (Download
    • Note: This paper is cited by Mr. David Cay Johnston, a Pulitzer-Prize winning author and a columnist for Tax Notes.

Newspaper Column Articles (in Chinese; As Part of My Public Services)

  1. An, Zhiyong, and Chunrong Zheng "On the Systematic 'Budgeting Bias' of Chinese Local Governments and its Implications," China Business News,9/19/2017(Download
  2. An, Zhiyong, "On the Relationship between Market and Government: Talking from Hoodwinking," China Business News,6/7/2017(Download
  3. An, Zhiyong, "On the Essence of VAT and Its Two Implications," China Business News,5/17/2017(Download
  4. An, Zhiyong, "Cutting Excess Production Capacity and Inventory Warrants Appropriate Government Intervention," China Business News,5/9/2017(Download
  5. An, Zhiyong, "Strengthening Private Property Rights Protection Can Help Promote Investment and Innovation," China Business News,3/30/2017(Download
  6. An, Zhiyong, "More Time Is Needed before Conducting a Comprehensive Evaluation of the VAT Reform," China Business News,12/19/2016(Download
  7. An, Zhiyong, "Strengthening Private Property Rights Protection Can Help Deleverage," China Business News,11/1/2016(Download
  8. An, Zhiyong, "On the Theoretical Arguments of Collecting Real Estate Property Taxes," China Business News,9/26/2016(Download)
  9. An, Zhiyong, "The Impact of Taxation on Macroeconomic Fluctuations Is Theoretically Ambiguous," China Business News,9/13/2016(Download
  10. An, Zhiyong, "What's the Real Difference between Ad Valorem and Unit Taxation?" China Business News,8/3/2016(Download
  11. An, Zhiyong, "Supply-Side Reform Doesn't Necessarily Imply Cutting Taxes," China Business News,7/12/2016(Download
  12. An, Zhiyong, "On the Relationship between Institutional Reform and Tax Reform," China Business News,6/5/2016(Download
  13. An, Zhiyong,“Reforming the Corporate Income Tax Can Help Deleverage,” China Business News,2/4/2016(Download
  14. An, Zhiyong,“The Big Four Commercial Banks Should Not Enjoy Public Guarantees from the Government,” China Business News,12/8/2015.(Download
  15. An, Zhiyong,“The Implications of the Chinese Stock Market Turmoil for the Functionality and Responsibility of the State-owned Assets Supervision and Administration Commission of the State-Council (SASAC),” China Business News,9/24/2015. (Download)
  16. An, Zhiyong,“On the Impact of Raising Tobacco Taxes,” China Business News,6/11/2015. (Download)
  17. An, Zhiyong,“Taxation Theories Can Not Deal with Illegitimate Income,” China Business News,3/18/2015. (Download)
  18. An, Zhiyong,“The Industry Structure and Corruption in Present China,” China Business News,10/9/2014. (Download)
  19. An, Zhiyong,“Why Is the Present Plan of Reverse Mortgage Insurance Infeasible?” China Business News,4/18/2014. (Download

Policy Reports (in Chinese; As Part of My Public Services)

    1. An, Zhiyong, Hongwei Wang, Wei Shi, “The Implications of the Failure of the GSEs in the U.S. for the Development of the Real Estate Financial Market in Shanghai,” Submitted to the Shanghai Municipal Government, March 2012.
    2. An, Zhiyong, “A Report on the Necessity and Feasibility of Constructing the Home Price Index (HPI) in China,” Submitted to the People’s Bank of China, December 2008 March 2012.

    Recent Invited Presentations

    • 2017/02, Wharton School of Business, University of Pennsylvania, Philadelphia, PA, USA.
    • 2016/02, Federal Reserve Bank of Philadelphia, Philadelphia, PA, USA.
    • 2016/01, Fiscal Affairs Department, IMF, Washington, DC, USA.
    • 2015/12, Maxwell School of Citizenship and Public Affairs, Syracuse University, Syracuse, NY, USA.
    • 2015/09, Federal Reserve Bank of Chicago, Chicago, IL, USA.
    • 2015/01, Department of Economics, Northern Illinois University, DeKalb, IL, USA.

    Conference Presentations

    • 2016/11, The 109th Annual Conference of National Tax Association, Baltimore, MD, USA.
    • 2014/04, The American Real Estate Society (ARES) 2014 Annual Meeting, CA, USA.
    • 2013/04, The American Real Estate Society (ARES) 2013 Annual Meeting, HI, USA.
    • 2012/05, The International Conference on Local Government Debt, Shanghai, China.
    • 2011/08, The 67th Annual Congress of the International Institute of Public Finance, Ann Arbor, MI, USA.
    • 2011/06, The 2011 AREUEA Mid-Year Meeting, Washington, DC, USA.
    • 2011/04, The 3rd Annual Conference of the Global Chinese Real Estate Congress, Hangzhou, China.
    • 2009/11, The 102nd Annual Conference of National Tax Association, Denver, CO, USA.
    • 2009/08, The 1st Annual Conference of the Global Chinese Real estate Congress, Beijing, China.
    • 2009/07, The International Conference "The Shadow Economy, Tax Evasion and Social Norms", Muenster, Germany.
    • 2008/11, The 101st Annual Conference of National Tax Association, Philadelphia, PA, USA.
    • 2006/11, The 99th Annual Conference of National Tax Association, Boston, MA, USA.
    • 2005/11, The 98th Annual Conference of National Tax Association, Miami, FL, USA.

    Journal Referees

    • American Economic Journal: Economic Policy
    • Journal of Urban Economics
    • Journal of Economic Behavior & Organization
    • International Tax and Public Finance
    • Public Finance Review
    • Public Choice
    • Economics & Politics
    • Economics of Transition
    • World Economy
    • Journal of Economic Policy Reform
    • Journal of Economic Psychology
    • China Economic Review
    • Annals of Economics and Finance
    • Emerging Markets Review
    • Emerging Markets Finance and Trade
    • Japanese Economic Review
    • Economic Change and Restructuring
    • Journal of Housing and the Built Environment


    • 2015, Research Grant from the Shanghai University of Finance and Economics, China
    • 2014, Research Grant from the National Social Science Fund of China
    • 2012, Research Grant from the Shanghai University of Finance and Economics, China
    • 2011, Research Grant from the Shanghai Minicipal Government, China
    • 2010, Research Grant from the Ministry of Education, China
    • 2009, Best Paper Prize, The 1st Annual Conference of the Global Chinese Real Estate Congress (Paper Title: "Conforming Loan Limit and Jumbo-Conforming Spread" (with Zhenguo Lin and Yingchun Liu) ) (Certificate)
    • 2006, IBER Mini Grant, U.C. Berkeley
    • 2006, Summer Grant, U.C. Berkeley
    • 2006, Dean's Normative Time Fellowship, U.C. Berkeley
    • 2005, Academic Progress Award, U.C. Berkeley
    • 2004, Burch Center Fellowship, Department of Economics, U.C. Berkeley