Papers accepted or under revision at journals

Fragile New Economy: Intangible Capital, Corporate Savings Glut, and Financial Instability, conditional accept at the American Economic Review, SSRN 

Tokenomics: Dynamic Adoption and Valuation, with Lin Will Cong, Neng Wang, Review of Financial Studies Volume 34, Issue 3, March 2021 (Editor's Choice), RFS, NBER,  SSRN

Network Risk and Key Players: A Structural Analysis of Interbank Liquidity, with Ed Denbee, Christian Julliard, Kathy Yuan, Journal of Financial Economics, Volume 141, Issue 3, Sep. 2021 (Lead Article), JFE, SSRN 

Dynamic Banking and the Value of Deposits, with Patrick Bolton, Neng Wang, Jinqiang Yang, revise & resubmit at the Journal of Finance, NBER, SSRN

The Procyclicality of Intermediated Credit, revise & resubmit at the Journal of Finance, under revision

Updates

Bank Credit and Money Creation on Payment Networks: A Structural Analysis of Externalities and Key Players, updated Jan. 2022, with Yi Li, Huijun Sun, SSRN

Link to more working papers

Presentation and discussion in 2022  ( * discussion;  ** presentation by coauthors ):  AFA, ABFER Webinar (Innovation, Productivity, and Challenges in the Digital Era), Adam Smith Workshop at INSEAD, ASU Sonoran Winter Finance Conference*, Boston College finance seminar, European Winter Finance Summit, EBC Network Conference at Tilburg,  Federal Reserve Board**, GSU-RFS Fintech Conference**, HEC-McGill Winter Finance Workshop, Imperial College finance seminar, NYU Econ/Stern macro seminar, Midwest Finance Association**, RCFS Winter Conference*, University of Zurich, Utah Winter Finance Conference**