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PUBLICATIONS
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Employment Under Marijuana. Journal of Financial and Quantitative Analysis, 2025, 1-34. Sole author.
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Household debt in the times of populism. Journal of Economic Behavior & Organization, 205, 202-215.
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Does a firm’s lobbying activity respond to its peers’ lobbying activity?. Public Choice, 2023, 194(3), 297-324.
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The effect of populism on high-skilled migration: Evidence from inventors. European Journal of Political Economy, 2023, 79, 102447.
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Measuring US regional economic uncertainty. Journal of Regional Science, 62, 1149–1178. (with Shixuan Wang and James Reade)
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Female political leaders and R&D investment, Research in International Business and Finance, 2024, 70, 102396. with Yuexin Guan, and Siyu Tang.
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Modelling Australian electricity prices using indicator saturation. Energy Economics, 2023, 120, 106616. with Nicholas Apergis, James Reade, and Shixuan Wang.
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Measuring economic uncertainty in China. Emerging Markets Finance and Trade, 2022, 58(5), 1359-1389. with Xinjie Wang and Shixuan Wang.
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Measuring Economic Uncertainty in China, forthcoming in Emerging Markets Finance and Trade, (with Shixuan Wang and Xinjie Wang)
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Debt Maturity, Leverage, and Political Uncertainty, forthcoming in The North American Journal of Economics and Finance, (joint with Xinjie Wang and Shanxiang Yang)
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The effect of economic and political uncertainty on sovereign CDS spreads. International Review of Economics & Finance, 2024, 89, 143-155. with Xinjie Wang, Yaqing Xiao, Weike Xu, and Jinfan Zhang
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Building sectoral job search indices for the United States, forthcoming in Economics Letters, Data for Job search indices can be found here. Please cite our paper when using these indices.
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Does investor sentiment drive stock market bubbles? Beware of excessive optimism!, forthcoming in Journal of Behavioral Finance
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How does the macroeconomy respond to stock market fluctuations? The role of sentiment, forthcoming in Macroeconomic Dynamics
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Detecting bubbles in China's regional housing market, (2019), Empirical Economics, 56(4), 1413–1432
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Does the stock market really cause unemployment? A cross-country analysis, The North American Journal of Economics and Finance 44, (2018), pp. 34-43.
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Sentiment and asset price bubble in the precious metals markets, (2018), Finance Research Letters, 26, 106-111.
SELECTED WORKING PAPERS
（1）Unintended Labour Market Consequences of Shareholder Litigation R&R at Journal of Financial and Quantitative Analysis
Abstract: We use the adoption of universal demand (UD) laws as a quasi-natural experiment to examine the impacts of shareholder litigation, as a corporate governance mechanism on the labour market. We observe that reduced derivative lawsuit risk (following the passage of UD laws) leads to higher firm net hiring. However, such increases in hiring are probably inefficient because firms tend to over-hire and UD laws reduce their investment inefficiencies in terms of labour. We further show that UD laws reduce labour productivity and have stronger effects for firms facing less product competition, have low financial slack, and are highly unionised.
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