Fields of Interest
International Economics, Macroeconomics
Publications/Accepted Papers
The Impacts of the U.S. Trade War on Chinese Exporters, with Zhikuo Liu (Fudan), Zhiwei Tian (SUFE), Xiaxin Wang (Fudan), Review of Economics and Statistics, Volume 106, Issue 6, November 2024
A short summary by the Stanford Center on China's Economy and Institutions and a short summary on the VoxDev
This article has been awarded 2022 Pu Shan Award for Excellent Papers on International Economics, and 2023 Masahiko Aoki Best Paper Nomination Award.
Financial Crises, Bailouts and Monetary Policy in Open Economies, Online Appendix, Journal of International Economics, Vol. 151, September 2024.
International Trade and the Currency Composition of Corporate Debt, with Ohyun Kwon (Drexel) and Saiah Lee (UNIST), accepted by Journal of Money, Credit and Banking
Bubbly Booms and Welfare, with Feng Dong (Tsinghua SEM), and Haoning Sun (Tsinghua SEM), Review of Economic Dynamics, Vol. 53, July 2024.
From Ports to Prices: The Inflationary Effects of Global Supply Chain Disruptions, with Ting Lan (IMF), Yang Liu (IMF), Xinrui Zhou (Michigan), AEA Papers and Proceedings, vol. 116, May 2026
Working Papers
From Invoicing to Anchoring: How RMB Swap Lines Shape Exchange Rate Anchoring in Small Open Economies, with Ting Lan (IMF) and Rui Sun (Peking)
Does RMB Internationalization Promote Cross-Border Trade?, with Ohyun Kwon (Drexel), Saiah Lee (UNIST)
Asset Bubbles and Monetary Policy in Open Economies, with Feng Dong (Tsinghua SEM)and Siqing Wang (CUFE), Reject and Resubmit, Journal of International Economics
Dissecting the International Transmissions of U.S. Monetary Policy, with Peidi Chen (HKU) and Wenbin Wu (Fudan)
Geographic Fragmentation in a Knowledge Economy, with Lin Tian (INSEAD and CEPR)
Legal Information Transparency and Capital Misallocation: Evidence from China, with Zhengwen Liu (Peking) and Xiao Tang (Tsinghua) , Revise and Resubmit, American Economic Journal: Microeconomics
Financial Panics in Open Economies, with Dong Lu (Renmin), Chenxi Wang (Renmin), Hang Zhou (UIBE)
Globalization Shocks and Governance Reforms, with Shang-Jin Wei (Columbia Business School and NBER)
Natural Barriers and Policy Barriers, NBER WP28171, with Shang-Jin Wei (Columbia Business School and NBER)
What Does Financial Crisis Tell Us About Credit Reallocation and Exporter Behavior, with Yi Wen (Federal Reserve Bank of St. Louis)
Monetary Policy under Uncertain Expectations in an Emerging Economy , with Seunghoon Na (Korea University) and Anurag Singh (ITAM Business School), Revise and Resubmit, IMF Economic Review
Selected Work-in-Progress
Central Bank Swap Lines and Currency Choices in Trade: the Bank Risk Management Channel, with Ohyun Kwon, Saiah Lee and Shang-Jin Wei,
On the Role of Trade in Inflation: Evidence from United States in the Pandemic, with Prachi Mishra (IMF) and Antonio Spilimbergo (IMF)
Financial Sanctions and Russian Trade, with Shang-Jin Wei (Columbia and NBER), to be presented at the JIE - GCAP - BGS Conference on Geoeconomics
``Polluted'' Export Restrictions: The Unintended Consequences of China's Rare Earth Quota Policies, with Tuo Chen (Tsinghua), Yonghan Zhao(Fudan)
Shipping Delays and Domestic Inflation: Uncovering the Transmission Channels, with Ting Lan (IMF), Yang Liu (IMF), Yuning Xu (SMU), Xinrui Zhou (Michigan)
Referee Activities
Review of Economics and Statistics (x2), Journal of International Economics (x10), International Economic Review, Journal of Development Economics, Management Science, Review of International Economics (x2), Journal of Economic Geography, European Economic Review, Journal of Economic Behavior & Organization, Macroeconomic Dynamics, French National Research Agency