Xuewen LIU

 

Professor

HKU Business School

The University of Hong Kong

Pokfulam Road, Hong Kong

Office: Room 823, K.K. Leung Building

Phone: (852) 3917 0055 (Office)

Email: xuewenl at hku.hk

 

Member of Finance Theory Group

 

CV

 

Research Interests: Financial Economics, Macroeconomics, Growth and Development, Chinese Economy

 

 

Selected Working Papers

   

·       Dynamic Big Push (with Sichuang Xu)

Previously circulated under the title “Consumption-led Industrial Upgrading”

 

·       Self-Fulfilling Risk Panics: An Expected Utility Framework (with Jess Benhabib and Pengfei Wang)

 

·       Diversification and Systemic Bank Runs

Society for Economic Dynamics (SED) Annual Meeting 2018, SFS Cavalcade Asia Pacific 2018, Econometric Society China Meeting 2018, AFR Summer Institute of Economics and Finance 2019, CICM 2019...

 

·       A Model of China's State Capitalism (with Xi Li and Yong Wang)

NBER Summer Institute 2013, SED 2013, Econometric Society China Meeting 2013, China Economics Summer Institute 2012, Summer Institute of Finance (SIF) 2013...

 

 

Publications

 

·       Asset-market Sentiments and Business-cycle Fluctuations (with Pengfei Wang and Sichuang Xu)

International Economic Review, forthcoming.

 

·       Delayed Crises and Slow Recoveries (with Pengfei Wang and Zhongchao Yang)

Journal of Financial Economics, 2024, 152,103757.

 

·       A Model of Systemic Bank Runs

Journal of Finance, 2023, 78 (2), 731-793.

A simple illustration of SVB event

 

·       Exchange-Traded Funds and Real Investment (with Constantinos Antoniou, Weikai Li, Avanidhar Subrahmanyam and Chengzhu Sun)

Review of Financial Studies, 2023, 36 (3), 1043–1093.

 

·       Financial Markets, the Real Economy, and Self-fulfilling Uncertainties (with Jess Benhabib and Pengfei Wang)

Journal of Finance, 2019, 74 (3), 1503-1557.

 

·       Credit Expansion and Credit Misallocation (with Alexander Bleck)

Journal of Monetary Economics, 2018, 94, 27-40.

 

·       The Creditor Channel of Liquidity Crises (with Antonio Mello)

Journal of Money, Credit and Banking, 2017, 49(6), 1113-1160.

 

·       Endogenous Information Acquisition and Countercyclical Uncertainty (with Jess Benhabib and Pengfei Wang)

Journal of Economic Theory, 2016, 165, 601-642.

 

·       Interbank Market Freezes and Creditor Runs

Review of Financial Studies, 2016, 29(7), 1860-1910.

Yihong Xia Best Paper Award, China International Conference in Finance, 2014

 

·       Sentiments, Financial Markets, and Macroeconomic Fluctuations (with Jess Benhabib and Pengfei Wang)

Journal of Financial Economics, 2016, 120(2), 420-443.

 

·       Short-selling Attacks and Creditor Runs

Management Science, 2015, 61(4), 814-830.

 

·       The Fragile Capital Structure of Hedge Funds and the Limits to Arbitrage (with Antonio Mello)

Journal of Financial Economics, 2011, 102(3), 491-506.

 

·       Market Transparency and the Accounting Regime (with Alexander Bleck)

Journal of Accounting Research, 2007, 45(2), 229-256.

 

 

 

 

 

 

 

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