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
Publications
Competition, Profitability, and Discount Rates (with Winston Dou, Wei Wu, 2020, Online Appendix), Journal of Financial Economics, forthcoming
External Financing and Customer Capital: A Financial Theory of Markups (with Winston Dou, 2020), Management Science, forthcoming
Job Search under Debt: Aggregate Implications of Student Loans (2020, Online Appendix), Journal of Monetary Economics, forthcoming
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
Working Papers
The Oligopoly Lucas Tree: Consumption Risk and Industry-Level Risk Exposure (with Winston Dou, Wei Wu, 2020)
Granular Uncertainty and Disastrous Misallocation (with Winston Dou, Pengfei Wang, 2020)
Feedback and Contagion through Distressed Competition (with Hui Chen, Winston Dou, Hongye Guo, 2020, Online Appendix)
Bank Branch Expansion vs. International Capital Flows: Integrating Local Spatial Markets with Macro Aggregates (with Robert Townsend, 2019)
Work in Progress
Monetary Policy, Competition, and Asset Prices (with Winston Dou, Michael Weber)