about me
I'm an assistant professor at the Research Institute of Global Value Chains, University of International Business and Economics.
Ph.D., University of Minnesota 2022
Welcome to my website
Photo credit to Ying Wang
Office 413 Keyan Annex Bldg.
No.10 Huixin Dongjie Road
Chaoyang District 100029
Beijing China
Inferring the Prices of Intangible Investment by Digital Platforms
As publishers of online advertisements, the digital platforms use viewership as input and rely on algorithms and viewers’ data. From the observables on the platforms’ financial statements and other macro variables, I infer the shadow prices of (i) the ‘free’ online content created by the digital platforms and (ii) the own-account intangible investment by the digital platforms in their stock of data and algorithms. Both prices lack market transaction counterparts. I show that the shadow prices are relevant to measuring the welfare impact of the digital platforms and find that the share of real intangible investment by the digital platforms in real GDP increased from 2.6% to 3.1% during 2018-2021.
Multinational Production, Intangible Capital, and Structural Change in the U.S.
This paper assesses the contribution of technological progress and increased degree of openness on the reallocation of sectoral value-added in the U.S. using a two-country-two-sector dynamic model with multinational production (MP). I find that exogenous technological progress explained 70% of the decline in the measured value-added share of the goods sector in the U.S. from 1982 to 2012. If the model is recalibrated to abstract from multinational production, the impact of technological progress is underestimated by one percentage point, accounting for 20% of the observed decline in measured value-added share in the goods sector.