Research

You can also find my articles on my Google Scholar profile.

Published Papers

Consumer Perceptions and Willingness to Adopt rCBDCs Before and After the e-HKD Pilot
(joint with Kohei Kawaguchi, Si Yuan Jin and Haicheng Guo) - Published in Distributed Ledger Technologies: Research and Practice, 2026 Read more
[Publication] [Draft]
Higher-Order Forward Guidance
(joint with Seung Joo Lee) - Published in Journal of Economic Theory, 2026 Read more
[Publication] [Draft] [Slides]
The Spatial Transmission of US Banking Panics: Evidence from 1870-1929
(joint with Seung Joo Lee) - Published in Oxford Bulletin of Economics and Statistics, 2026 Read more
[Publication] [Draft] [Slides]
Infrequent but long-lived zero lower bound episodes and the optimal rate of inflation
(joint with Olivier Coibion, Yuriy Gorodnichenko and Johannes Wieland) - Published in Annual Review of Economics, 2016 Read more
[Publication] [Draft] [Slides] [VOX-EU, CEPR Policy Portal article]

Liquid Staking and the Control-Exposure Wedge
(joint with Gloria Christina Heesen, and Kohei Kawaguchi) Read more
[Draft] [Slides]
Self-fulfilling Volatility and a New Monetary Policy
(joint with Seung Joo Lee) - Revise and Resubmit for Journal of the European Economic Association, 2025 Read more
[Draft] [Slides]
Efficiency, Risk and the Gains from Trade in Interbank Markets
(joint with Matthias Hoelzlein and Jens Orben) - Revise and Resubmit for Journal of International Economics, 2025 Read more
[Draft] [Slides]
Yield-Curve Control Policy under Inelastic Financial Markets
(joint with Seung Joo Lee) - Revise and Resubmit for The Economic Journal, 2025 Read more
[Draft] [Slides]
Endogenous Firm Entry and the Monetary Policy ‘Room’
(joint with Seung Joo Lee and Zhenghua Qi) - Submitted Read more
[Draft] [Slides]
How Monetary Policy Is Made: Lessons From Historical FOMC Discussions
(joint with Cooper Howes, Olivier Coibion, and Yuriy Gorodnichenko) - Submitted Read more
[Draft] [Slides] [VOX-EU, CEPR Policy Portal article]

Implementing the Optimal Staked Share for Proof-of-Stake Ethereum
(joint with Kohei Kawaguchi, Yang Lu, and Harlly Zhou) Read more
Informational Experiment on Consumer’s Perception of Central Bank Digital Currency as Liquidity Assets
(joint with Kohei Kawaguchi and Si Yuan Jin) Read more
Gender Gap, Structural Change and Female Comparative Advantage: A Quantitative Analysis of China
(joint with Cassie Xiang) Read more