Research

Publications

Market Fragility and the Paradox of the Recent Stock-Bond Dissonance (2018) - Economics Letters 

with Christos Koulovatianos (U Luxembourg) and Fabienne Weber (U Luxembourg) 

The Long Shadows of War in China: Battle Shocks in Early Life and Health/Wealth Accumulation (2020) - China Economic Review 

with Christos Koulovatianos (U Luxembourg)

Urban Innovation and Inter-City Patent Collaboration: A Network Analysis of China's National Innovation System (2020) - Technological Forecasting & Social Change 

with Li Yao (ZJGSU) and Jun Li (U of Essex)

The Role of Labor-Income Risk in Household Risk-Taking (2020)  - European Economic Review 

with Sylwia Hubar and Christos Koulovatianos (U Luxembourg)

Financial Risk-Taking, Religiosity and Denomination Heterogeneity (2022)  - Journal of Empirical Finance

Demographics and FDI: Lessons from China's One-Child Policy (2024) -Macroeconomic Dynamics

with John Donaldson (Columbia), Christos Koulovatianos (U Luxembourg) and Rajnish Mehra (ASU)

Air Pollution and Household Stock Market Participation (2025) - Journal of Banking and Finance

with Geng Niu (SWUFE), Yang Zhou (WHU), Hongwu Gan (RUC), and Mengmeng Guo (SWUFE)


Working Papers

Combining a Survey Experiment with a Lifecycle Model to Evaluate Pronatalist Policies (2025)  - Revised and Resubmitted to the International Economic Review

with Joshua R. Goldstein (UC Berkeley), Christos Koulovatianos (U Luxembourg), and Carsten Schroeder (DIW and Free U Berlin)

Completing the Market: Generating Shadow CDS Spreads by Machine Learning (in major revision, IMF Working Paper No. 19/292)  

Link to current draft 

with Nan Hu (Goethe U Frankfurt & Hong Kong Monetary Authority) and  Alexis Meyer-Cirkel (IMF)

Thus spoke FOMC: The Fed and Sovereign CDS Spreads (2025)

with Mingyu Liu (DUFE)  

Rewiring Risks: Robots and Households' Balance Sheets (2025)

with Tong Wang (Shandong U) and Xiao Han (Shandong U)   


Research Funding

Zhejiang Natural Science Foundation (ZJ-NSF) - Youth Project (2020 - 2022, LQ20G030006)

China Scholarship Council  (CSC) - Funding Scheme for Visiting Scholar (2023, Department of Finance, University of Luxembourg)


Other Publications in Economics

Fiscal Decentralization, Preference for Government Innovation and City Innovation: Evidence from China (2020) - Chinese Management Studies 

with Zheng Li and Siying Yang (Jilin U)

Promoting Financial Literacy through a Digital Platform: A Pilot Study in Luxembourg (2021) - International Journal of Finance & Economics

with Alexis Meyer-Cirkel (IMF)

高铁开通、方言多样性与城市创新 (2021)  - 制度经济学研究 

with Siying Yang (Jilin U) and Guangzhao Sun (JXUFE)

The Influence of High-speed Rails on Urban Innovation and the Underlying Mechanism (2022)  - PLoS ONE

with Yue Lu (Jilin U) and Siying Yang (Jilin U)


Conference Papers in Computer Science

Trustworthy AI: Deciding What to Decide (2023). - Computing (SAI) Conference 2024 

with Caesar Wu (U Luxembourg), Yuan-Fang Li (Monash), Jingjing Xu (U Luxembourg), Pascal Bouvry (U Luxembourg)

Strategic Predictions and Explanations By Machine Learning (2023). - ICOIN Conference 2024 

with Caesar Wu (U Luxembourg), Jingjing Xu (U Luxembourg), Pascal Bouvry (U Luxembourg)