Chen Lian

About Me

I am an assistant professor in UC Berkeley's Department of Economics. I work on macroeconomics, behavioral economics, and finance.

I received my Ph.D. in economics from MIT. A recent CV is available here. My Google Scholar profile is here.

Contact Information


Office: Evans Hall, #675

Working Papers

Determinacy without the Taylor Principle (with George-Marios Angeletos), April 2022, [Slides], conditionally accepted, Journal of Political Economy

Mistakes in Future Consumption, High MPCs Now, July 2022 [NBER version] [Slides] (This is a more general version of, and replaces with, Consumption with Imperfect Perception of Wealth.)


[NEW!] Dampening General Equilibrium: Incomplete Information and Bounded Rationality (with George-Marios Angeletos), Feb 2022, forthcoming, Handbook of Economic Expectations. (This subsumes an older version of Dampening General Equilibrium.)

Confidence and the Propagation of Demand Shocks (with George-Marios Angeletos), May 2022, Review of Economic Studies [Slides] [Online Appendix]

A Theory of Narrow Thinking, October 2021, Review of Economic Studies (Feature Article) [Online Appendix] [Short Slides]

Anatomy of Corporate Borrowing Constraints (with Yueran Ma), February 2021, Quarterly Journal of Economics [Online Appendix]

Low Interest Rates and Risk Taking: Evidence from Individual Investment Decisions (with Yueran Ma and Carmen Wang), June 2019, Review of Financial Studies (Lead Article) [Survey Appendix]

Forward Guidance without Common Knowledge (with George-Marios Angeletos), September 2018, American Economic Review [Online Appendix]

Incomplete Information in Macroeconomics: Accommodating Frictions in Coordination (with George-Marios Angeletos), October 2016, Handbook of Macroeconomics, Volume 2

Work in Progress

The Economics of Financial Stress (with Dmitriy Sergeyev and Yuriy Gorodnichenko) [slides available upon request]

FTPL Redux (with George-Marios Angeletos and Christian Wolf) [slides available upon request]


Spring 2022, NBER Behavioral Macroeconomics Research Boot Camp [Syllabus]

Spring 2022, Econ 138, Financial and Behavioral Economics

Spring 2021, Econ 236D, Behavioral Macroeconomics [Syllabus]