Peer-Reviewed Articles

Housing and Liquidity 

Chao He, Randall Wright, and Yu Zhu, Review of Economic Dynamics, 2015

Price is hump-shaped in borrowing constraint and have complicated dynamics.

On Complicated Dynamics in Simple Models of Liquidity

Chao He and Randall Wright, Journal of Money, Credit and Banking, 2019 

Complicated dynamics do not exist in a class of simple models of liquidity.

Education Policies, Pre-college Human Capital Investment and the Educated Unemployment

Tiantian Dai, Chao He, Xiangting Hu, and Xiangbo Liu, Journal of Economics, 2020

How capacity expansion and subsidy affect college grad unemployment.

Talent in the Public Sector: The Role of Migration and Housing Policies

Tiantian Dai, Chao He, and Shengyi Jiang, Economic Modelling, 2023

Talent allocation between private and public sectors, with housing policies.

The Paradox of Search Intensity

Chao He and Xiaodong Fan, Journal of Economic Theory, 2024 

Explain countercyclical search intensity (SI). SI can lower firm entry.

Surveys：

搜寻匹配理论的发展和在宏观经济学中的应用 

何超, 韩晗, 经济学（季刊）, 2024

Recent Working Papers

Hospital Runs and Dynamic Capacity Management

Wanyi Chen and Chao He

Excluding nonurgent patients is suboptimal. A planner dynamically hospitalizes nonurgent patients who do not deserve treatment during normal times.

Locaion, Location, Location: How Favorable Industry Shocks Can Be Bad for You

Chao He and Qi Tong

Document favorable industry shocks lower industry employment and wages in inland China. A theory of inland entrepreneurs moving to coastal cities to take advantage of the shock, causing lower local labor demand.