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publications:

"Delayed crises and slow recoveries", 2024, Journal of Financial Economics, with Xuewen Liu and Pengfei Wang [pdf]


"Upstream subsidy or downstream subsidy? A quantitative analysis of credit subsidy in China", 2023, Economic Modelling, with Hengxu Song and Yue Zhou [pdf]

working papers:

"Synchronization Risk and Price Stickiness: Theory and Evidence ", with Xuewen Liu, Hengxu Song, and Pengfei Wang 


"Stress Test under Adverse Selection and Moral Hazard"

 
"Sentiment, Investor Sophistication, and Asset Bubbles", with Xuewen Liu and Pengfei Wang [pdf]
 

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