Research

 Working Papers

1. Leasing and Falling Interest Rates, 2024  [latest version] 

2. Facilitating Entry through Leasing (joint with Weiwei Hu and Kai Li) [paper]

International Economic Review, conditionally accepted 

• Conferences: 7th PKU-NUS 2023

• Seminars/Workshops: Cambridge PhD Macro Workshop (2021, 2022), PHBS Sargent Institute PhD Macro-Finance Reading Group 2021 

3. Leasing, Pecuniary Externality, and Aggregate Efficiency (joint with Kai Li and Yicheng Wang) [paper]

• Conferences: PHBS Macro and Finance Workshop 2023**, China Economic Association Annual Meeting 2021**

• Seminars/Workshops: PHBS Brownbag 2022**, Fudan University**

4. Capital Misallocation: Sources behind Lease-Adjustment [draft available upon request]

 Publications

1. Leasing as a Mitigation Channel of Capital Misallocation (joint with Weiwei Hu and Kai Li) [paper] 

Journal of Financial Economics, accepted

• FMA Conference Best Paper Awards: semi-finalist 

• Conferences: EFA 2023, FMA 2022, SFS Cavalcade North America 2022, FIRS 2022**, CICM 2022, CICF 2022, MFA 2022**, AEA poster 2022, Royal Economic Society Annual Meeting 2022, AEDC 2022, RiskLab/BoF/ESRB poster 2022, China Economic Association Annual Meeting 2021, SED 2021**, PHBS Macro and Finance Workshop 2021**, 5th PKU-NUS 2021, MMF 2022 (canceled), NFA 2022 (canceled)  ( ** presented by co-author)

• Seminars/Workshops: Cambridge PhD Macro Workshop (x2), HITSZ 2021**, CKGSB 2021**, Peking Guanghua 2021**, Shanghai Jiaotong 2023**,  Tsinghua PBCSF 2024**

2. Lease-Adjusted Productivity Measurement, joint with Weiwei Hu and Kai Li [paper]

Journal of Banking and Finance, July 2024

•  Conference: AEA poster 2023

3. Leasing and the Allocation Efficiency of Finance, joint with Weiwei Hu and Kai Li [paper]

Journal of Empirical Finance, December 2023

• FMA Conference Best Paper Awards: semi-finalist 

• Conferences: FMA 2022, Asia Meeting of the Econometric Society 2022, 6th PKU-NUS 2022