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Working Paper:
1.Supply Chain Management and Aggregate Fluctuations.
The extensive margin adjustment in the number of suppliers amplifies productivity shocks and generates large economic fluctuations due to a return to scale in production.
—— presented at Econometric Society World Congress (2020), University of Pennsylvania (2019), Federal Reserve Bank of Philadelphia (2019), Georgetown University (2019 GCER Biennial Alumni Conference).
2.Foreign Price Shocks, Production Networks, and Monetary Policy (Update soon!) (with Zhesheng Qiu, Yicheng Wang, and Francesco Zanetti)
In an open economy, the importance of a sector's inflation in the monetary policy target depends on the sector's direct and indirect (through production network) use of domestic labor.
—— presented at Biennial Conference of China Development Studies at Shanghai Jiao Tong University (2023), Hong Kong Junior Macro Group (2023), and Sixth PHBS Workshop in Macroeconomics and Finance (2023).
3.The Adoption and Termination of Suppliers over the Business Cycle (with Yang Yu and Francesco Zanetti) Under revision at The Journal of Monetary Economics
Costs of managing and adjusting suppliers generate countervailing effects that explain the procyclical adoption and acyclical termination of suppliers over the business cycle.
—— presented at Biennial Conference of China Development Studies at Shanghai Jiao Tong University (2022), European Meetings of the Econometric Society (2022), Asian Meetings of the Econometric Society in China (2022) and Tokyo (2022), the East China Normal University (2023), SED annual meeting (2023), and Shanghai Macroeconomics Workshop (2023).
4.The Innovation-Based Comparative Advantages of Firms (Draft available upon request) (with Zhihao Ma, Xi Qu, and Chao Yang)
A higher similarity between a firm and a product in the space of patent fields predicts a higher probability of diversifying into that product.
—— presented at Biennial Conference of China Development Studies at Shanghai Jiao Tong University (2022) and Asian Meetings of the Econometric Society in China (2022).
5.Land Price, Export Shocks, and Investment in China: A Tale of Two Sectors. (Draft available upon request)
An RBC model with a service and an industrial sector, and export price shocks explains the negative correlation between the real land price and aggregate investment in China.
—— presented at Asian Meeting of the Econometrics Society at Xiamen University (2019), Biennial Conference of China Development Studies at Shanghai Jiao Tong University (2019), University of Pennsylvania (2016).
Work in Progress:
1.Local Government Competition and Spatial Mismatch between Workers and Firms (with Ming Lu, Yuta Suzuki, Xican Xi, and Yuejun Zhong)
2.Industry Heterogeneity, Production Networks, and Monetary Policy (with Zhesheng Qiu and Jianhong Xin)
(1) Impulse responses of prices on industry level
(2) Equation by equation identification
(3) Medium scale DSGE with production networks
—— presented at Peking University (2019), University of Pennsylvania (2019).
3.Machine Learning and Financial Crises Forecasting (with Kevin Wiseman, IMF, Silvia Iorgova, IMF, and Antonio Chan-Lau, IMF).
Publication:
Returns to Dialect: Identity Exposure Through Language in the Chinese Labor Market. China Economic Review 30 (2014): 27-43. (with Zhao Chen and Lu Ming)