"Optimal Foreign Reserve Intervention and Financial Development" (with Scott Davis, Kevin Huang, and Mark Spiegel), Federal Reserve Bank of San Francisco Working Paper 2025-27, November 2025.
"Information Acquisition and the Finance-Uncertainty Trap" (with Ding Dong, Allen Hu, and Zhaorui Li), Federal Reserve Bank of San Francisco Working Paper 2025-12, July 2025.
"The Crowding-In Effects of Local Government Debt in China" (with Yuchao Peng, Xiaoming Li, and Zhiwei Xu), Federal Reserve Bank of San Francisco Working Paper 2024-35, November 2024. Revise and resubmit, Journal of Monetary Economics
"Inflation Disagreement Weakens the Power of Monetary Policy" (with Ding Dong, Pengfei Wang, and Min Wei), Federal Reserve Bank of San Francisco Working Paper 2024-27, August 2024. Revise and resubmit, Journal of Monetary Economics
"Targeted Reserve Requirements for Macroeconomic Stabilization" (with Mark Spiegel and Jingyi Zhang), Federal Reserve Bank of San Francisco Working Paper 2023-13, April 2023. R&R, International Economic Review.
"Fiscal Stimulus under Average Inflation Targeting" (with Jianjun Miao and Dongling Su), Federal Reserve Bank of San Francisco Working Paper 2022-22, November 2022.
"Can Pandemic-Induced Job Uncertainty Stimulate Automation?" (with Sylvain Leduc), Federal Reserve Bank of San Francisco Working Paper 2020-19, May 2020. Media mentions: VoxEu