Assistant Professor of Finance
Hong Kong University of Science and Technology
Ph.D. in Economics, MIT, 2017
Research Interests:
Asset Pricing, and Its Connection with Industrial Organization Frictions in Financial Markets and Product Markets Micro-Founded Macroeconomic Models, Macro-Labor-SearchContact
Room 5005, Department of Finance
Lee Shau Kee Business Building
Hong Kong University of Science and Technology
Clear Water Bay, Kowloon, Hong Kong
(852)23588298, jiy@ust.hk
Working Papers
Granular vs Micro Uncertainty: Credit Misallocation and Endogenous Disasters (with Winston Dou, Pengfei Wang, 2020)
Predation or Self-Defense? Endogenous Competition and Financial Distress (with Hui Chen, Winston Dou, Hongye Guo, 2019)
High Discounts and High Competition (with Winston Dou, Wei Wu, 2019, Online Appendix), Revise and Resubmit, Journal of Financial Economics
Job Search under Debt: Aggregate Implications of Student Loans (2020, Online Appendix)
External Financing and Customer Capital: A Financial Theory of Markups (with Winston Dou, 2019), Revise and Resubmit, Management Science
Publications
Distinguishing Constraints on Financial Inclusion and Their Impact on GDP, TFP, and The Distribution of Income (with Era Dabla-Norris, Robert Townsend, D. Filiz Unsal, 2020, Online Appendix), Journal of Monetary Economics, forthcoming
Inalienable Customer Capital, Corporate Liquidity, and Stock Returns (with Winston Dou, David Reibstein, Wei Wu, 2019, Online Appendix), Journal of Finance, forthcoming
Work in Progress
Monetary Policy, Competition, and Asset Prices (with Winston Dou, Michael Weber)
Bad Beta and Good Beta under Imperfect Competition (with Winston Dou, Wei Wu)