Hello! I am a PhD candidate in Economics at Stanford University.
I am an economic historian who uses the tools of economic theory, industrial organization, and applied econometrics to understand historical economic development. My current research investigates the economic dynamics of two transformations in early modern Europe: the advent of printing and the political economy of the Reformation. My job market paper examines how printing technology’s economic features shaped product choices, firm behavior, and industry structure in the early modern book market.
I am on the job market in 2025-26.
Having defended my dissertation earlier this year, I have won the Alexander Gerschenkron Prize for the best dissertation in non-North American economic history (EHA) and the Gino Luzzatto Prize for the best economic history dissertation defended in the past two years (EHES).
How to pronounce my first name: "chee-yee"
My CV is here
Email: qiyizhao@stanford.edu
Research
Technological Change and the Market for Books, 1450-1550 (Job Market Paper - draft coming soon)
Abstract: This paper considers how movable-type printing’s economic features shaped the early modern book market using product-level data. Building on a lively medieval tradition of manuscript production, Gutenberg’s innovation did not simply reduce costs; it introduced new incentives and constraints that altered both the product’s nature and the market’s structure. First, printing’s business model encouraged the production of shorter and simpler books targeting a poorer and less literate audience. Second, its cost structure led to product differentiation and prolific trade rather than direct competition and localized production, making available a greater variety of products offering diverse information and perspectives. Rather than simply making medieval books cheaper and more abundant, these changes may represent printing technology’s true contribution to European economic development.
Rethinking “Distance From”: the Examples of Wittenberg and Mainz (appendix)
Abstract: An influential literature uses distance-based variables as proxies for exposure, or access, to treatment interventions that entailed potential economic impacts. This paper examines the assumptions underlying this practice and finds historical and econometric drawbacks that engender misleading conclusions. Historical data challenge the assumption that distance determined access to ideas or technology even in pre-industrial societies. Replication exercises and statistical simulations reveal that “distance from” variables frequently produce falsely significant estimates in first-stage IV and OLS regressions and potentially violate the exclusion restriction in the IV second stage. My findings suggest caution in using distance-based measures as proxies for the diffusion of information and resources.
Abstract: A large literature measures the economic consequences of the Reformation, particularly Protestantism. An important yet overlooked question is what kinds of people became Protestants in the first place, and whether economic factors influenced their decisions. I study this question using rare individual-level data from 16th-century German urban referenda. I find that privileged citizens, whether defined by birth, political status, or residential address, supported Protestantism less than ordinary citizens. Guilds making a living from capital also showed less support than guilds relying on labor. As a possible explanation, Catholic institutions offered the elite exclusive rights and economic networks that Protestantism threatened to abolish. These results highlight the roles of self-selection and preexisting demand, shedding new light on the current literature’s findings and assumptions.
Teaching
I am passionate about helping students learn to think like economists. Having TAed for both technical and writing-intensive classes, I enjoy supporting students from all backgrounds as they develop analytical rigor, the ability to think critically and quantitatively about evidence and arguments, and clear communication skills.
TA for Econ 102A: Introduction to Statistical Methods (Dr. Scott McKeon) - Winter 2024-25
TA for Econ 101: Economic Policy Seminar (Dr. Christopher Makler) - Spring 2022-23
Grader for MGTECON 349 (Stanford GSB): Smart Pricing and Market Design (Prof. Michael Ostrovsky) - Winter 2019-20
Prior to Stanford:
Grader for Math 113: Abstract Algebra and Math 185: Complex Analysis, UC Berkeley - Fall 2018-19, Spring 2017-18