About Me

I am an Associate Professor of Finance at Kellogg School of Management, Northwestern University, and a Faculty Research Fellow at the National Bureau of Economic Research (NBER). I work on international finance and macroeconomics.

  • My main line of inquiry is about the government's role in the provision of currencies and safe assets. I use financial valuation-based tools to study the monetary, exchange rate, and real consequences of government borrowing, and to evaluate the government's fiscal capacity and sustainability.

  • A related topic is how currencies and safe assets are intermediated in the international monetary system, how they generate a liquidity premium in this intermediation process, and how this process is affected by the monetary policy.

  • In the broader field, I also work on the asset pricing theories of exchange rates, and the roles international trade, incomplete markets, and portfolio allocation play in such theories.

I received my doctor of philosophy in finance from Stanford Graduate School of Business, and a bachelor degree in math and business economics from California Institute of Technology. View my [Curriculum Vitae] and [Department Profile]. Outside of academia, I enjoy playing cello, working out, and reading.


Email: zhengyang.jiang [at] kellogg.northwestern.edu

Twitter: [@ProfJiang]

Phone: 847-491-2848

Address: Finance Department, Kellogg School of Management, 2211 Campus Drive, Evanston, IL 60208

Public Goods

We ran an Online International Finance and Macro Seminar during the 2020--2021 lockdown. Visit our [Website] for the archived presentations and discussions.