U Washington
CVDynamic Banking and the Value of Deposits, with Patrick Bolton, Neng Wang, Jinqiang Yang, forthcoming at the Journal of Finance, link
Firm Quality Dynamics and the Slippery Slope of Credit Intervention, with Wenhao Li, forthcoming at the Review of Economic Studies, link
Fragile New Economy: Intangible Capital, Corporate Savings Glut, and Financial Instability, the American Economic Review Volume 115, No. 4 (2025), link
Network Risk and Key Players: A Structural Analysis of Interbank Liquidity, with Ed Denbee, Christian Julliard, Kathy Yuan, the Journal of Financial Economics (Lead Article) Volume 141, Issue 3 (2021), link
Tokenomics: Dynamic Adoption and Valuation, with William Cong, Neng Wang, the Review of Financial Studies (Editor's Choice) Volume 34 Issue 3 (2021), link
Token-based Platform Finance, with William Cong, Neng Wang, the Journal of Financial Economics, Volume 144 Issue 3 (2022), link
Public Liquidity and Intermediated Liquidity, revise and resubmit the Journal of Finance (2022), link
Information-Concealing Credit Architecture, with Gary Gorton, Guillermo Ordoñez (2025), link
Data as a Networked Asset, with Bo Bian, Qiushi Huang, Huan Tang (2024), link
Slicing an Asset to Learn about Its Future: A New Perspective on Return and Cash-Flow, with Chen Wang (2024), link
The Network Structure of Money Multiplier, with Yi Li, Huijun Sun (2023), link
Payment Risk and Bank Lending: Reassessing the Bundling of Payment Services and Credit, with Yi Li (2022), link
Money Creation in Decentralized Finance: A Dynamic Model of Stablecoin and Crypto Shadow Banking, with Simon Mayer (2022), link