Working Papers

Unequal Transition: The Widening Wealth Gap amidst China's Rapid Growth. with Yangtian Jiang and Yu Zheng. CEPR Discussion Paper No. 17802. [Paper]

Technical Progress and Labor Share Decline in the Manufacturing and Distribution Industry. with Michele Boldrin. [Paper]

Mergers and Acquisitions and the Average Markup. with Linyi Cao. Revision requested at Macroeconomic Dynamics. [Paper]

Work in Progress

Soft Budget Constraints, Reform, and Growth through the Lens of a Schumpeterian Model, with Linyi Cao

Catching up by Switching Lanes: Directed Technical Change in China's Transition to Electrical Vehicles. with Yong Wang and Wan Xu

Breaking the ``Iron Rice Bowl": Reform, Labor Market Misallocation, and Productivity. with Helu Jiang and Runsheng Wang

Publications

A Theory of the Dynamics of Factor Shares. with Michele Boldrin, David K. Levine, and Yong Wang. Forthcoming at Journal of Monetary Economics. [Paper Link] [Appendix]

Entry Barriers and Growth: the Role of Endogenous Market Structure. with Lucia Helu Jiang and Yu Zheng. Forthcoming at International Economic Review. [Paper Link] [Appendix]

Haste Makes Waste? Quantity-Based Subsidies under Heterogeneous Innovations. with Linyi Cao, Lucia Helu Jiang, and Guangwei Li.  Journal of Monetary Economics, volume 142, March 2024. [Paper Link] [Appendix]

Social-economic Change and Its Impact on Violence: Homicide History of Qing China. with Zhiwu Chen and Kaixiang Peng. Explorations in Economic History, 2017, 63, 8-25. [Paper Link]

Learning, Innovation and Economic Growth: the Role of Knowledge-embodied Imports for Developing Countries. with Zhongchen Fan and Jimmy Xu, 经济学 (季刊 ) [China Economic Quarterly], 2023, 23 (2), 585-603.