Publications

Optimal Bank Reserve Remuneration and Capital Control Policy [slides]  [replication files]  [working paper version]

with Stephanie Schmitt-Grohé and Martin Uribe

American Economic Journal: Macroeconomics (2025)

Lender Concentration of External Debts and Sudden Stops [working paper version]

Journal of Monetary Economics (2026)

Working Papers

Spatially Targeted LTV Policies and Collateral Values [slides]

with Cameron LaPoint and Ming-Jen Lin

Reject & Resubmit at Journal of Finance

  Media: Yale Insights 

Social Influence in Household Equity Investment: Evidence from Randomized Military Drafts

with Chih-Ching Hung, Ming-Jen Lin, and Kevin Tseng

Revise & Resubmit at Journal of Accounting & Economics

Flip or Flop? Tobin Taxes in the Real Estate Market [slides]

with Cameron LaPoint and Ming-Jen Lin

Submitted

Coordinating Monetary and Macroprudential Policies around Low Nominal Rates

Submitted

Macroprudential Policy and Asset Liquidity

Learning via the Band of Brothers: Evidence from Entrepreneurship Spillover

with Yen-Cheng Chang, Chih-Ching Hung, and Kevin Tseng

The Dynamics of #MeToo — Theory and Empirical Analyses

with C. Y. Cyrus Chu, and Chih-Sheng Hsieh

Revise & Resubmit

R&D Investment under Currency Depreciation: Should We Beggar-thy-neighbor?

Optimal Monetary Policy with Endogenous Productivity in a Small Open Economy

Accepted

Works in Progress

Diagnostic Expectations in Open Economies

with Seunghoon Na

Global Banks’ Subjective Beliefs and Systematic Debt Cycles in Emerging Economies

with Kenji Wada

Cost of Duty: Conscription Duration and Human Capital Accumulation

with Shang-Jin Wei

Fertility Decline and Housing Boom under Geopolitical Tension: Theory and Evidence

with Terry Cheung and Russell Tsz-Nga Wong

Homebuilder Concentration and Housing Market Dynamics

with Jui-Lin Chen and Kai-Yuan Ke

Employment and Hours over the Business Cycle Revisited

with Hsuan-Chih (Luke) Lin and C.C. Yang