(Updated Nov 2024)
RESEARCH INTERESTS
International Macroeconomics/Finance, Monetary Economics
ACADEMIC POSITIONS
2021 - Present University of California, San Diego – Assistant Professor of Economics
2020-2021 University of British Columbia – Postdoctoral Research Fellow
EDITORIAL POSITIONS
2024 - Present Journal of International Money and Finance – Associate Editor
EDUCATION
2020 University of Wisconsin - Madison – Ph.D., Economics
2014 Boston University – M.A., Economics
2011 The University of Hong Kong – Bachelor of Economics and Finance
PUBLICATIONS
“Carry Trades and FX Risk Buffers: Foreign Currency Debt of Emerging Market Firms” with Annie Lee. Forthcoming, Review of Economics Statistics (link)
“Cheap USD Credit: Panacea or Poison? Firm-level Evidence from Emerging Markets”, with Xiao Wang, Haichun Ye. Forthcoming, Journal of Money, Credit and Banking (link)
“Liquidity and Exchange Rates: An Empirical Investigation”, with Charles Engel. The Review of Economic Studies, Volume 90, Issue 5, October 2023, Pages 2395–2438 (link)
“Forecasting the U.S. Dollar in the 21st Century”, with Charles Engel. Journal of International Economics, Volume 141, March 2023, 103715 (link)
“The Uncovered Interest Rate Parity Puzzle, Exchange Rate Forecasting, and Taylor Rules,” with Charles Engel, Dohyeon Lee, Chang Liu, Chenxin Liu. Journal of International Money and Finance 95, July 2019, 317-331 (link)
WORKING PAPERS
“Team Persistent or Team Transitory? Sectoral Linkage and Inflation Persistence” with Liugang Sheng and Zhentao Shi (preliminary draft, link)
“Monetary Policy and the Secular Decline in Long-term Bond Yields: A Global Perspective” with Boris Hofmann and Zehao Li (preliminary draft, link)
“Exchange Rate Models are Better than You Think, and Why They Didn't Work in the Old Days” with Charles Engel (link)
“Collateral Advantage: Exchange Rates, Capital Flows, and Global Cycles”, with Charles Engel and Michael B. Devereux (link)
“Foreign Reserves Management and Original Sin”, with Michael B. Devereux (link)
“Original Sin Redux: A Model Based Evaluation”, with Boris, Hofmann, Nikhil Patel (link)
“Corporate Balance Sheets and Sovereign Risk Premia” (link)
WORK IN PROCESS
“Exchange rate puzzles: Evidence from Rigidly Fixed Nominal Exchange Rate Systems”, with Charles Engel, Jimmy Shek and Feng Zhu (link)
SHORT TERM VISITS
Jul 2024 Visiting Assistant Professor, HKUST
Jun 2024 Visiting Research Fellow Bank for International Settlements
Nov 2022 Visiting Scholar, Federal Reserve Bank of San Francisco
PRESENTATIONS
Conferences
2024 ASSA annual meeting, Barcelona Summer Forum, SED 2024, Macro Midwest Fall
2023 Debtcon6 (Princeton), UCLA International Macro conference, ABFER annual meeting (Singapore), HKU-UCL-ESRC Summer Workshop (Hong Kong), NBER SI IFM, Stanford SITE 1st Global Capital Allocation conference, 4th Joint Workshop-BoE-BdF-IMF-OECD-BoI-on International Capital Flows and Financial Policies (Rome), CEPR IMF Annual Meeting (London)
2022 NBER IFM Spring Meeting, SED, SF Fed Pacific Basin Research Conference, Chicago BFI 10th International Macro Finance Conference
2021 Banca d’Italia-ECB FX workshop, BIS/BoE/ECB/IMF Spillover Conference, OIFM, ES China meeting, ES Asian meeting, FMCGC, CEF International conference, CEA, Warsaw MMF, PKU-NUS annual conference, IBEFA summer meeting, IYFS, SED, 2nd International Macro/Finance and Sovereign Debt Workshop in East Asia, ABFER annual meeting
2020 The 5th International Macroeconomics and Finance Conference (Seoul)*, ES European Meeting
2019 Midwest Macro Meetings (Fall 2019), Economics Graduate Student Conference (St Louis), Minnesota-Wisconsin International/Macro Conference (Spring2019, Fall 2019), Conference on “Exchange Rates and Macroeconomic Policies: Recent Developments” (CityU HK)
2018 Midwest Macro Meetings (Spring 2018)
Seminars
2024 HKUST, BIS HK, OSU, LSU, UCI
2023 UCR, Waseda, Keio, GRIPS, BOJ, BIS HK, HKUST, BIS Basel, U Virginia
2022 Santa Clara U, UCR, Wisconsin, USC, UCI, UCSB, UCSC, VEAMS, HKU, CUHK, UHouston, National Tsing Hua University, UWash
2021 Drexel U, Chicago Fed, YESS, Bank of Korea, Korean U
2020 Dartmouth, Williams, Rutgers U, UOregon, SF Fed, UCSD, UBC, Western U, HKUST, CityU HK
2018 Hong Kong Institute of Monetary Research
2017 IMF
TEACHING
Fall 2021, Winter 2024 EC246 International Macro (Advanced PhD course)
Winter 2023, 2024 EC183 Topics in Macro (undergrad International Finance course)
HONORS AND AWARDS
2024 Faculty Teaching Award, Econ Department, UCSD
2024 UCSD Faculty Career Development Program (FCDP)
2024, 2023 UCSD Senate Grant
2019 Ko and Ying Shih Fellowship, UW-Madison
2019 Robock Award in Empirical or Experimental Economics (with Annie Lee), UW-Madison
2018 Walker Family Fellowship, UW-Madison
2017 Summer research fellowship, UW-Madison
2010 HKU Worldwide Exchange Scholarship, HKU
PREVIOUS EMPLOYMENT
2016-2020 Research Assistant for Professor Charles Engel, UW-Madison
Winter, Summer 2019 PhD Fellow, Bank for International Settlements
Summer 2018 PhD Fellow, Hong Kong Institute of Monetary Research (Hong Kong Monetary Authority)
Summer 2017 PhD Intern, Fund Internship Program, International Monetary Fund
Summer 2016 Research Assistant for Professor Ken West, UW-Madison
2011-2012, 2014 Trainee, Société Générale Corporate and Investment Banking, Hong Kong
REFEREE SERVICE
Econ journal: Review of Economic Studies (REStud), AEJ: Macro, Canadian Journal of Economics (CJE), European Economic Review (EER), Economic Journal (EJ), Economics Letters (EL), Journal of International Economics (JIE), Journal of International Money and Finance (JIMF), Journal of Money, Credit and Banking (JMCB), Review of Economics and Statistics (REStat), Review of Economic Dynamics (RED), Quantitative Economics (QE)
Finance journal: Journal of Finance (JF)
LANGUAGES
English (fluent), Cantonese (native), Mandarin (fluent), Taiwanese (fluent), French (basic)
Programming: Fortran, Julia, Python, MatLab, Stata, R, RATS
CITIZENSHIP
Hong Kong SAR (China)
REFERENCES
Charles Engel
Donald Hester Professor of Economics
University of Wisconsin-Madison
Phone number: +1 (608) 262-3697
Email: cengel@ssc.wisc.edu
Kenneth West
John D. MacArthur and Ragnar Frisch Professor of Economics
University of Wisconsin-Madison
Phone number: +1 (608) 262-0033
Email: kdwest@wisc.edu
Menzie David Chinn
Professor of Public Affairs and Economics
University of Wisconsin-Madison
Phone number: +1 (608) 262-7397
Email: mchinn@lafollette.wisc.edu