Address: 55th Floor, Two International Finance Centre, 8 Finance Street, Central, Hong Kong SAR, China
Tel.: (852) 2878 1753
Email: ygao@hkma.gov.hk
2024 - Present
2019 - 2023
Manager, Hong Kong Monetary Authority
Economist/ Economic Analyst, International Monetary Fund (OAP)
2019 - 2022
2017 - 2019
2013 - 2017
Ph.D. in Public Policy, University of Tokyo
M.A. in Economics, University of Tokyo
B.A. in Finance, University of International Business and Economics (Beijing, China)
Macroeconomics and Finance.
"Sustainable Path to Inclusive Growth in Japan: How to Tackle Income Inequality?" (with Purva Khera). Japan: Selected Issues, IMF Country Report No.24/119, 2024; IMF Selected Issues Paper (SIP/2024/026), 2024
"The Financial Impact of Carbon Taxation on Corporates" (RA for Jochen Schmittmann). IMF Selected Issues Paper (SIP/2023/034), 2023
“Green Bond Pricing And Greenwashing Under Asymmetric Information” (with Jochen Schmittmann). IMF Working Papers WP/2022/246, 2022. (Paper) (Slides) (Video) (Cited by FT news: "New standards keep the greenwash off green bonds," April 17, 2023)
“Loan Screening When Banks Have Superior Information Technology” (with Kenichi Ueda). CARF Working Papers CARF-F-580. (Paper)
“Equilibrium Excess Reserves During Banking Crisis” (with Kenichi Ueda).
“Alternative Credit, Financial Development, and Bank Risk-Taking in ASEAN+3” (with John Beirne (ADB), Eric Sugandi).
Do Green Bonds Really Help Green Business? An E-DSGE Approach (with Lu Xu)
Green Bond Price Premium in the Primary Market (with Chenxu Fu)
Corporate Governance Reform During Japanese Abenomics Using Network Analysis (with Saisawat Samutpradit)
2023
The 11th Hong Kong Economic Association Biennial Conference, Hong Kong SAR, China
2022
The 19th Chinese Finance Annual Meeting, Shanghai, China
Asian Meeting of the Econometric Society in East and South-East Asia, Tokyo, Japan
The 2nd CEPR Rising Asia Workshop, Tokyo, Japan
Asian Meeting of the Econometric Society in China, Hong Kong SAR, China
2020
Japanese Economic Association Spring Meeting, Kyushu, Japan