WORKING PAPERS AND WORK IN PROGRESS
Finance, Endogenous TFP, and Misallocation (with Chaoran Chen and Ashique Habib). Conditionally accepted by the American Economic Review: Insight
Migration Costs, Sorting, and the Agricultural Productivity Gap (with Qingen Gai, Naijia Guo, Bingjing Li, and Qinghua Shi) Revision requested by Econometrica (Working Paper version)
Trade Wars along the Global Value Chains: Quantifying the US-China Trade Conflicts (with Jiandong Ju, Hong Ma, and Zi Wang)
Policy Distortions in Credit Allocation: Evidence from China’s Stimulus Policy (with Chun-yu Ho, Dan Li, and Shuhua Tian)
Temporary Migration, Lasting Effects: Schooling Choices and the Dynamic Effects of Trade and Migration in China (with Chao Wei)
Structural Change and the Dynamics of China-US Real Exchange Rate (with Jenny Xu and Yong Wang). Preliminary draft (December 2015).
Accounting for China’s Growth (with Loren Brandt), University of Toronto Working Paper No.394, February 2010.
PUBLUCATIONS
China
Structural Change and Aggregate Employment Fluctuations in China (with Wen Yao). International Economic Review, 62 (1), 65-100, 2021, Older Version (April 2018).
The Varying Shadow of China’s Banking System, Journal of Comparative Economics, 49 (1), 135-146, 2021. Working Paper (May, 2018)
The Effect of Migration Policy on Growth, Structural Change, and Regional Inequality in China (with Tongtong Hao, Ruiqi Sun, Trevor Tombe). Journal of Monetary Economics (Carnegie-Rochester-NYU Conference SI) 113, 112-134, 2020
Trade, Migration, and Productivity: A Quantitative Analysis of China
(with Trevor Tombe). American Economic Review 109 (5) 1843-72, 2019, Old working paper version (June, 2015)
Factor Market Distortions across Time, Space, and Sectors in China Appendix (with Loren Brandt and Trevor Tombe), Review of Economic Dynamics vol. 16(1), pp. 39-58, January 2013
Understanding China’s Growth: Past, Present and Future, Journal of Economic Perspectives, Fall, 2012. Presentation Slides
Growth and Structural Transformation in China (with Loren Brandt and Chang-Tai Hsieh), in Loren Brandt and Thomas Rawski ed. China’s Great Economic Transformation, pp. 569-632, Cambridge University Press, 2008.
Soft Budget Constraint and Inflation Cycles: A Positive Model of the Macro Dynamics in China during Transition Appendix (with Loren Brandt), Journal of Development Economics, 24(2), 2001.
Redistribution in a Decentralized Economy: Growth and Inflation in China under Reform (with Loren Brandt), Journal of Political Economy, 108(2), 2000.
The Varying Shadow of China’s Banking System, Journal of Comparative Economics, 49 (1), 135-146, 2021. Working Paper (May, 2018)
The Effect of Migration Policy on Growth, Structural Change, and Regional Inequality in China (with Tongtong Hao, Ruiqi Sun, Trevor Tombe). Journal of Monetary Economics (Carnegie-Rochester-NYU Conference SI) 113, 112-134, 2020
Trade, Migration, and Productivity: A Quantitative Analysis of China
(with Trevor Tombe). American Economic Review 109 (5) 1843-72, 2019, Old working paper version (June, 2015)
Factor Market Distortions across Time, Space, and Sectors in China Appendix (with Loren Brandt and Trevor Tombe), Review of Economic Dynamics vol. 16(1), pp. 39-58, January 2013
Understanding China’s Growth: Past, Present and Future, Journal of Economic Perspectives, Fall, 2012. Presentation Slides
Growth and Structural Transformation in China (with Loren Brandt and Chang-Tai Hsieh), in Loren Brandt and Thomas Rawski ed. China’s Great Economic Transformation, pp. 569-632, Cambridge University Press, 2008.
Soft Budget Constraint and Inflation Cycles: A Positive Model of the Macro Dynamics in China during Transition Appendix (with Loren Brandt), Journal of Development Economics, 24(2), 2001.
Redistribution in a Decentralized Economy: Growth and Inflation in China under Reform (with Loren Brandt), Journal of Political Economy, 108(2), 2000.
Growth and Development (non-China)
Modernization of Agriculture and Long Term Growth (with Dennis Tao Yang), Journal of Monetary Economics 60(3), 2013.
Agriculture and Aggregate Productivity: A Quantitative Cross-Country Analysis (with Diego Restuccia and Dennis Tao Yang), Journal of Monetary Economics 55(2), 2008.
Agriculture and Aggregate Productivity: A Quantitative Cross-Country Analysis (with Diego Restuccia and Dennis Tao Yang), Journal of Monetary Economics 55(2), 2008.
Fiscal Policy
Using Financial Market Information to Enhance Canadian Fiscal Policy (with Huw Lloyd-Ellis), Public Finance and Management 6(2), 2006.
Tax Smoothing under Stochastic Interest Rate: A Re-evaluation of Clinton’s Fiscal Legacy (with Huw Lloyd-Ellis and Shiqiang Zhan), Journal of Money, Credit, and Banking, 37(4), 2005.
Fiscal Shocks and Fiscal Risk Management (with Huw Lloyd-Ellis), Journal of Monetary Economics, 48(2), 2001.
Endogenous Capital Utilization, Investor’s Effort and Optimal Fiscal Policy, Journal of Monetary Economics, 36(3), 1995.
Optimal Fiscal Policy in a Stochastic Growth Model, Journal of Economic Theory, 58(2), 1992.
Tax Smoothing under Stochastic Interest Rate: A Re-evaluation of Clinton’s Fiscal Legacy (with Huw Lloyd-Ellis and Shiqiang Zhan), Journal of Money, Credit, and Banking, 37(4), 2005.
Fiscal Shocks and Fiscal Risk Management (with Huw Lloyd-Ellis), Journal of Monetary Economics, 48(2), 2001.
Endogenous Capital Utilization, Investor’s Effort and Optimal Fiscal Policy, Journal of Monetary Economics, 36(3), 1995.
Optimal Fiscal Policy in a Stochastic Growth Model, Journal of Economic Theory, 58(2), 1992.
Other Topics
“Differential Fecundity and Gender Biased Parental Investments,” (with Aloysius Siow) Review of Economic Dynamics 5, pp.999-1024, 2002.
“The Creation of Plants and Firms,” (with Aloysius Siow) Journal of Economic Dynamics and Control, 22, pp. 141-78, 1997.
“The Creation of Plants and Firms,” (with Aloysius Siow) Journal of Economic Dynamics and Control, 22, pp. 141-78, 1997.