yhuang

Professor of Finance(on leave); Advisor at the Bank for International Settlements. Views are my own.

[Guy Parmelin @ParmelinG]

We have concluded the negotiations to modernise our Free Trade Agreement with China 🇨🇭🇨🇳
Delighted to welcome Minister Wang Wentao to Bern as we mark this important milestone for Swiss businesses and take another step forward in our economic relations.

[Zhengyang Jiang @ProfJiang]

Treasury is buying back long debt + issuing short debt. This is yield curve *elasticity* management.

In Convenience Lost (https://t.co/IWDpgdt8nn), we show that demand for long debt is much less elastic.

But there’s a tradeoff: short-term financing increases rollover risk.

[Cesar Sosa Padilla @cesarspa1]

Thanks to the @MinneapolisFed for this very nice write up of our paper!

[Yucheng Yang @YuchengYang1993]

Very excited to share new work with @zha_tao! Identification has long been disciplined in SVARs; in the big data era, the information set deserves the same. We provide it: a Bayesian method, applied to household credit & monetary shocks under recursive & proxy identification.

[CEPR @cepr_org]

New CEPR Discussion Paper - DP21839
The Evolving Nexus: Sovereigns, Banks and NBFIs
Stefan Avdjiev @StefanAvdjiev @BIS_org, Bryan Hardy @BIS_org, Maximilian Jager (Frankfurt School of Finance & Management)
https://t.co/ZfAW5X71bt
#CEPR_IMF #EconTwitter

[Barry Eichengreen @B_Eichengreen]

https://t.co/PyN2A6E1dl

[Mohamed A. El-Erian @elerianm]

From @nriapia’s FT column, “How economics is changing:”
“Modern-day economics is a Cambrian explosion of new methodology and research subfields. Thousands of papers in the subject are published each year, many of which weave in insights about human behaviour and social norms. Indeed, it is now the fifth most popular A-level in England. And researchers in the field are increasingly stretching into more exotic areas and collaborating across boundaries.”
#economics @ft

[CEPR @cepr_org]

New CEPR Discussion Paper - DP21814
Meritocracy and the Networks It Forged: China's Imperial Examination
Ying Bai (University of Hong Kong), Ruixue Jia (@GPS_UCSD, University of Hong Kong)
https://t.co/YhGNHLrTMO
#CEPR_DE #CEPR_EH #CEPR_PoE #CEPR_PE #EconTwitter

[NBER @nberpubs]

Demonstrating that multiple self-fulfilling fundamental as well as sentiment driven stochastic inflation equilibria exist in the Lucas (1973) island model, from @BenhabibJess, Pengfei Wang, and Yi Wen https://t.co/U85BARh566

[Evgenia Passari @evgenia_passari]

Thank you @FT for featuring our work with @helene_rey and @joshuaarkirk

https://t.co/lcDU20cNm8

[NBER @nberpubs]

Paul Goldsmith-Pinkham, Associate Professor of Finance at the Yale School of Management, presented "Using AI in Household Finance Research: A Practical Guide" at the Household Finance Conference during the 2026 Summer Institute.
https://t.co/5vXuqAFqXS

[CEPR @cepr_org]

New CEPR Discussion Paper - DP21788
An Autopsy of the Voluntary Carbon Market
Ugo Panizza @upanizza @GVAGrad, Francesco Tripoli @HarvardHBS, Beatrice Weder di Mauro @bweder @GVAGrad
https://t.co/sPdn3Bw33N
#CEPR_AP #CEPR_CCE #EconTwitter

[NBER @nberpubs]

Industry distress predicts lower returns beyond firm-level distress: industry left-tail risk weakens competition-distress feedback, thus reducing negative discount-rate exposure, from Hui Chen, Winston Wei Dou, Hongye Guo, and Yan Ji https://t.co/ZbBVI8fFab

[Rustam Jamilov @RustamJamilov]

The Anatomy of Cyber Risk (with Hélène Rey @helene_rey and Tahoun Ahmed) is now accepted and forthcoming at the Journal of Finance @JofFinance.

Paper link: https://t.co/t7NlXSFsli
Firm-level cyber risk exposure data: https://t.co/NgkNaKlmhd

[Elias Papaioannou @EliasPapaioann2]

Great piece with reasonable advice to China and the US by @GitaGopinath @helene_rey @pogourinchas on global imbalances and remedies at @TheEconomist. If only world leaders listened….

[Luca Fornaro @LucaFornaro3]

This is especially true in a monetary union. With downward wage rigidities, asymmetric demand shocks across countries look like an adverse cost-push shock at the union level, worsening the employment/inflation trade off faced by the central bank
https://t.co/RAGSSbypLp

[Harry Haishi Li @hhaishili]

I'm happy to report that my paper with @GusMicrotoMacro on the employment effects of tariffs along the supply chain has been accepted by the Review of Economics and Statistics.

We have worked on this paper for almost a decade (and many thanks to the great editor @DanielYiXu for continuing to guide us for so long, even after he moved to AEJ Micro).

We believe the new empirical strategy studying the supply chain effects of tariffs developed in this paper can find wide applications beyond Brazil. A🧵:

[VoxEU @voxeu]

Assaf Razin: International economist for a global age
Gene M. Grossman @Princeton, Elhanan Helpman @Harvard @HarvardEcon
https://t.co/YXtjXn5KQ9

[Morten O. Ravn @MortenORavn]

Yay - @EconUCL we just promoted five great scholars:

Wei Cui to Prof.
Deniz Kattwinkel to Assoc. Prof.
@LukaszRachel to Assoc. Prof.
Liyang Sun to Assoc. Prof.
Gabriel Ulyssea to Prof.

What a bunch - outstanding economists & persons, looking forward to learning lots from them!

[Peking University @PKU1898]

Yesterday at the opening of the 2026 International Congress of Mathematicians, Wang Hong and Deng Yu, the 2007 PKU Cohort, received the Fields Medal — the first Chinese mathematicians to earn this distinction.

Adding to this milestone, 14 PKU faculty and alumni have been invited to deliver lectures at this congress, setting a new record.

The group includes faculty members Chen Songxi, Yuan Xinyi, Sun Xin, Xie Junyi, and alumni Zhu Yongchang, Xu Feng, Lu Jianfeng, Lin Lin, Deng Yu, Tang Yunqing, Wang Hong, Zhang Ruixiang, Shen Junliang, and Zhuang Ziquan.

A true mathematical dialogue took centre stage.