Published Papers:

1. Information Frictions, Monetary Policy, and the Paradox of Price Flexibility 2021 
    with Shengliang Ou and Renbin Zhang
     Journal of Monetary Economics 120, 70-82
     Local copy: click here. Older version: SSRN Working Paper
    PwC 3535 Finance Forum Best Paper Award 
     Outstanding Research Paper Award 2021, China Information Economics Society

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2. Term Structure, Forecast Revision and the Signaling Channel of Monetary Policy 2022
​​     Journal of the European Economic Association 20 (4), 1522–1553
     Local copy: click here
      Online Appendix.

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3. Bubbly Firm Dynamics and Aggregate Fluctuations 2022
​    with Haozhou Tang
    Journal of Monetary Economics 
     Local copy: click here. 
    Online Appendix. 

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4. Assessing Macroeconomic Tail Risk 2025
   with Francesca Loria and Christian Matthes.
   The Economic Journal
    First version 2019,  FEDS Working Paper

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5. The Return of Greenspan: Mumbling with Great Incoherence, 2025     
      with Shengliang Ou and Renbin Zhang. [Replication Package]
     ​ Journal of the European Economic Association
       First version April 2022, SSRN Working Paper 

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6. Quantifying the Federal Reserve's Objectives Using a Structural Vector Autoregressive Model, 2025
     with Shengliang Ou
     Economica
     ​First version 2020,  SSRN Working Paper

7. Monetary Policy, Firm Heterogeneity, and the Distribution of Investment Rates, 2025                  
​      with Matthias Gnewuch. [Online Appendix] [Replication Package] [VoxEU Column]
    Journal of Monetary Economics
      First version Sep 2021, SSRN Working Paper

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​Working Papers:

6. A Theory of Lumpy Innovation and Aggregate Dynamics​, May 2025 (Submitted)     
     with Lixing Wang. 
​     First version May 2024, SSRN Working Paper

5. The Macroeconomic Effects of Unemployment Insurance Extensions: A Policy Rule-Based Identification Approach
    Feb 2025 (Submitted)        
​     with Rubén Domínguez-Díaz​.
​      First version March 2024, SSRN Working Paper

4. Nominal Rigidities, Rational Inattention, and the Optimal Monetary Policy​, Jan 2025          
     with Shengliang Ou, Penghui Yin, and Renbin Zhang.
​       Revise & Resubmit (2nd Run) at the Journal of Economic Theory
       First version July 2023, SSRN Working Paper

3. Bubbly Credit Cycles, Dec 2023          
      with Haozhou Tang.
      First version 2022, SSRN Working Paper

2. The (Unequal) Rise of Market Power, Nominal Rigidities, and Monetary Non-Neutrality​, March 2023 (Submitted)       
      with Christian Höynck and ​​Minghao Li. SSRN Working Paper
      Reject & Resubmit at European Economic Review ​

1. The Ambiguous Signaling Channel of Monetary Policy, May 2022         
     Reject and resubmit at the Economic Journal
       First version 2017, SSRN Working Paper

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