Research Interests: Macro-Finance, with a focus on firm dynamics, financial frictions, and development.
Contact: wenyaw111@gmail.com
Publications
Persistent fiscal expansions in sudden-stop crises: The expectation channel, with Siming Liu and Hewei Shen, Economics Letters, Volume 257, 2025 [Publisher Version][Accepted Manuscript]
Financing Intermediate Inputs and Misallocation, with Jing Xu, Macroeconomic Dynamics (Special Issue), Volume 29, 2025 [Publisher Version] [Accepted Manuscript] Previously circulated as "Size-Dependent Intermediate Distortions and Misallocation"
Outsourcing Bank Loan Screening: The Economics of Third-Party Loan Guarantees, with Chenyu Shan and Yongjun Tang, Journal of Money, Credit and Banking, Volume 57, Issue 8, 2025 [Publisher Version] [Accepted Manuscript]
Bargaining Power and Trade Credit: The Heterogeneous Effect of Credit Contractions, with Qiyu Xu and Ei Yang, Journal of Banking and Finance, Volume 161, 2024 [Publisher Version] [Accepted Manuscript]
Multi-Product Firms and Misallocation, with Ei Yang, Journal of Development Economics, Volume 163, 2023 [Publisher Version] [Accepted Manuscript]
Working Papers
Credit Tightening, Trade Credit and Misallocation on Supply Chains, with Franklin Allen, Min Min, and Chenyu Shan, submitted [SSRN]
Pollution Prevention or Green Innovation? Unraveling Firms’ Environmental Choices, with Sumaya Memon and Yingjun Su (coming soon)
Agency Frictions, Intangible Capital, and Cross-Country Equity Financing, with Qi Sun (coming soon)
Work in Progress
Electricity Reform and Changes of Firm Performance in India, with Sumaya Memon and Subal Kumbharkar
Equity Frictions and Comparative Advantage, with Qi Sun
Teaching
Binghamton:
Monetary Economics, International Monetary Economics, Principles of Microeconomics
SUFE:
Undergraduate: International Finance
Master (International students): Econometrics, Chinese Economy
PhD: Macroeconomic Theories
UWO:
Intermediate Macroeconomics
Data & Programs
China National Catalog of Products for Statistical Purposes [NBS Original Website] [Cleaned Stata Files]
US Industry Deflators (sourced from BLS) [Stata Files]
Referee Services
AEJ: Macro, China Economic Review, Singapore Economic Review, Energy Economics, Applied Economics, International Review of Financial Analysis, 经济学季刊