Research

Publications

1. Liu, Jinan, Apostolos Serletis. 2025. ``Volatility and Dependence in Crude Oil and Agricultural Commodity Markets.'' Applied Economics, 57(12), 1314--1325.

2. Liu, Jinan, Victor Valcarcel. 2024. ``Hedging Inflation Expectations in the Bitcoin Spot and Futures Markets.'' Journal of Financial Stability, 70, 101205.

3. Liu, Jinan, Apostolos Serletis. 2023. "Volatility and Dependence in Cryptocurrency and Financial Markets: A Copula Approach." Studies in Nonlinear Dynamics and Econometrics 2, 22 - 29.

4. Liu, Jinan, Apostolos Serletis. 2023. "Volatility and Dependence in Energy Markets." Journal of Economics and Finance 47, 15 - 37.

5. Liu, Jinan, Apostolos Serletis. 2022. "Credit Cards, the Demand for Money, and Monetary Aggregates." Macroeconomic Dynamics 26 (8), 2161 - 2203.

6. Liu, Jinan, Apostolos Serletis. 2022. "World Commodity Prices and Economic Activity in Advanced and Emerging Economies." Open Economies Review 33, 347-374.

7. Liu, Jinan, and Apostolos Serletis. 2022. "The Complex Relationship between Inflation and Equity Returns." Journal of Economic Studies 49 (1), 159 - 184. (No revision requested).

8. Liu, Jinan, Sajjadur Rahman and Apostolos Serletis. 2021. "Cryptocurrency Shocks." The Manchester School 89, 190-202. 

9. Serletis, Apostolos, and Jinan Liu. 2020. "Inflation and Economic Activity in Advanced and Emerging Economies."  International Journal of Finance and Economics 1-28. 

10. Liu, Jinan, Cosmas Derry, and Apostolos Serletis. 2020. "Recent Monetary Policy and the Credit Card-Augmented Divisia Monetary Aggregate." Journal of Macroeconomics 64.

11. Liu, Jinan, and Apostolos Serletis. 2020. "Money Growth Variability and Output: Evidence with Credit Card-Augmented Divisia Monetary Aggregates." Studies in Nonlinear Dynamics and Econometrics 24 (5).

12. Barnett, William, and Jinan Liu. 2019. "User Cost of Credit Card Services under Risk with Intertemporal Nonseparability." Journal of Financial Stability 42: 18-35. Invited Submission to the Special Issue on Financial Services Indices, Liquidity and Economic Activity.

13. Liu, Jinan, and Apostolos Serletis. 2019. "Volatility in the Cryptocurrency Market." Open Economies Review 30: 779-811.

Working Paper

Liu, Jinan. 2026. "Money Growth and Inflation: Evidence with Credit Card-augmented Divisia Monetary Aggregates." Working paper at the Center for Financcial Stability, Advances in Monetary and Financial Measurement (AMFM).

Work in Progress

"The Relationship between Equity and Bond Returns" (with Apostolos Serletis)

"Cryptocurrency and Financial Markets" (with Victor Valcarcel)

"The Euro Area Monetary Asset Demand System - A Copula Approach" (with Barry Jones and Adrian Fleissig)

Invited Seminars and Workshops

2016 Initiative for Computational Economics (ICE) and Stanford Institute for Theoretical Economics (SITE), Stanford University, Stanford, California

Conference Presentations

2026: Southern Economic Association Annual Meeting, Houston, Texas (forthcoming)

2026: Missouri Valley Economic Association 63rd Annual Conference, Omaha, Nebraska (forthcoming, session chair)

2026: SEM 10th Conference, Washington University, St. Louis, Missouri (session chair)

2026: Western Economic Annual Conference, Denver, Colorado

2026: The Association of Private Enterprise Education 50th Annual Conference, Las Vegas, Nevada

2026: Department of Economics Seminar Series, University of Nebraska Omaha, Nebraska 

2025: Missouri Valley Economic Association 62nd Annual Conference, Kansas City, Kansas (session chair)

2025: Great Plains Economics and Business Conference, Federal Reserve Bank of Kansas City Omaha Branch, Nebraska 

2025: Midwest Econometric Group Meeting, University of Illinois Urban Champaign, Illinois 

2025: KC Fed’s Tenth District Monetary-Macro Academic Roundtable, Federal Reserve Bank of Kansas City, Missouri

2025: Department of Economics Seminar Series, University of Nebraska Omaha, Nebraska

2025: Western Economic Annual Conference, San Francisco, California

2025: 12th Annual Omaha Dialogue, Omaha, Nebraska 

2025: Midwest Economic Annual Conference, Kansas City, Missouri

2024: SEM 9th Conference, Georgia Institute of Technology, Atlanta, Georgia (session chair)

2023 33rd Annual Midwest Econometrics Group Conference, Federal Reserve Bank of Cleveland, Cleveland, Ohio

2023 Department of Economics, Babson College, Wellesley, Massachusetts

2023 Department of Economics, Stonehill College, North Easton, Massachusetts

2023 Department of Economics, Gettysburg College, Gettysburg, Pennsylvania

2022 Department of Economics, University of Texas Dallas, Dallas, Texas

2022 SEM 7th Conference, Bank of Canada and University of Calgary, Calgary, Canada (session chair)

2021 Uncertainty, Risk Measurement and COVID-19 Challenges, University of Birmingham, UK

2021 7th International Young Finance Scholars' Conference, Peiking University HSBC Business School

2021 Department of Finance, BI Norwegian School of Business, Oslo, Norway

2021 Southwest Social Science Association Annual Meeting

2021 Department of Economics, University of Calgary, Calgary, Canada

2021 Midwest Economic Association 85th Virtual Annual Meeting 

2021 College of Business Administration,  University of Nebraska Omaha (Virtual)

2021 College of Business,  University of Texas Arlington (Virtual)

2021 Mike Cottrell College of Business,  University of North Georgia (Virtual)

2021 College of Business Administration, Niagara University (virtual)

2021 Department of Economics Seminar,  University of Calgary (Virtual)

2020 Southern Economic Association 90th Annual Meeting, New Orleans, Louisiana

2019 Society for Economic Measurement's 6th Conference, Goethe-Universität and European Central Bank, Frankfurt, Germany

2018 World Economics Association Forum: Monetary Policy after the Global Crisis, in honor of William A. Barnett

2018 Department of Economics, Kansas State University, Manhattan, Kansas

2017 Department of Quantitative Business Administration, University of Zurich, Switzerland

2017 Missouri Valley Economic Association 54th Annual Conference, Kansas City, Kansas

2017 Society for Economic Measurement's 4th Conference, MIT, Cambridge, Massachusetts

2017 Bank of England Conference: Financial Services Indices, Liquidity and  Economic Activity, in honor of  William A. Barnett, Bank of England, London, UK

2015 Graduate Research Conference, University of Kansas, Kansas

2014 Ohio Association of Economists and Political Scientists 74th Annual Meeting and Conference, Perrysburg, Ohio

Research Experience

Research Fellow at International Center for Emerging Market Research, Advanced Financial Economics Program, RUDN University, Moscow, Russia, April 2017 - present

Researcher at Economics and Environmental Policy Research Network (EEPRN) and Greening Growth Partnership, Smart Prosperity Institute, University of Ottawa, Canada, November 2020 - present

Research Assistant for Professor Apostolos Serletis, University of Calgary, January 2020 - May 2020

Research Assistant for Professor Jennifer Winter, University of Calgary, March 2020 - present

Referee Service

The European Journal of Finance (4) International Review of Economics and Finance (2) Journal of Economic Studies (5) China Finance Review International (2) Journal of Forecasting (2) Physica A: Statistical Mechanics and its Applications (1) Journal of Multinational Financial Management (1) Quantitative Finance and Economics (1) Environmental Science and Pollution Research (1) Asia and the Global Economy (2) International Review of Financial Analysis (2) Financial Innovation (2) Finance Research Letters (4) Studies in Nonlinear Dynamics and Econometrics (1) SN Business & Economics (1) Journal of International Financial Markets, Institutions & Money (2) Journal of Economic Asymmetries (2) International Journal of Forecasting (2) Computational Economics (1) Energy Economics (2) Journal of Economics and Finance (2)