My research interest lies in macroeconomics, particularly the interaction between financial market and the macroeconomy.
My job market paper studies the long-term impact of mortgage expansion on the U.S. labor market. Empirically, it discusses how mortgage market fluctuations affect local employment, wage and firm dynamics. I’m also interested in the impact of financial friction on Chinese private firm performance.
I expect to graduate in 2020, and will be available for interviews at the 2019 CEEE meetings in Toronto and the 2020 ASSA/AEA meetings in San Diego.
JOB MARKET PAPER
What is the long-term effect of a credit boom on the real economy? To answer this question, I estimate the impact of mortgage expansion on U.S. county-level labor markets from 2003 to 2017. I measure the expansionary mortgage shock by interacting the lending strategies of multi-market lenders taken during 2002-2006 with a county's initial exposure to these lenders. Counties with larger mortgage shock did not experience significantly different changes in local labor markets in the expansion period, but experienced larger declines in employment during the Great Recession, and recovered faster after the recession, summing to zero net effect in the long run. These counties also experienced a slowdown in wage growth since the recession, which remained depressed until 2017. In addition, it is accompanied by a decline in the employment share of young firms. These facts suggest that credit market frictions affect local labor demand and the subsequent labor reallocation from young to old firms, which could explain the decline in wage growth if labor productivity is decreasing return to scale.[GO TO PAPER]
WORK IN PROGRESS
“Financial Friction and Chinese Firm Performance”
“Corporate Tax Cut and Technology Upgrading: Evidence from China” with Wei Cui, Weisi Xie, Jing Xing
Math Review for PhD Students Summer 2017-2019
Econ465 Market Structure Winter II 2019
Econ355 Introduction to International Trade Winter 2016-2018
Econ556 International Finance Winter 2016-2018
Econ345 Money and Banking Winter I 2017
Econ302 Intermediate Macroeconomics Winter II, Summer 2016
Econ602 Advanced Macroeconomics Winter I 2015