I’m a PhD candidate in Economics at Simon Fraser University, supervised by Lucas Herrenbrueck. My research interests lie in macroeconomic theory, monetary policy, and family economics. I study how policies transmit through banks and households: on the monetary side, I analyze China’s 2015 deposit-rate liberalization and reserve-requirement adjustments to quantify pass-through and to build structural models of deposit pricing and bank competition; on the family side, I develop overlapping-generations (OLG) frameworks and use micro data to examine how fertility, education, and pensions interact with policy and demographics. In addition, I collaborate with computer science researchers on a game-theoretic framework for censorship and circumvention, which models adaptive strategies between censors and censorship-resistance systems. Outside of research, I enjoy photography.
Download my CV (PDF).
Working paper (2025). After the removal of the deposit-rate ceiling, bank deposit rates become more responsive to RRR changes, while average deposit rates decline. I provide supporting bank-level difference-in-differences evidence and a structural deposit-pricing model with reserve requirements that rationalizes both findings.
Slides for EWMES2025:
Slides for AMES2026:
Working paper (2026). An overlapping-generations model with endogenous fertility, public debt, and pay-as-you-go pensions can generate multiple demographic steady states. The framework features a low-fertility, debt-unstable equilibrium and a high-fertility, debt-sustainable equilibrium consistent with the same tax rate and long-run debt target. I show that a temporary, debt-financed increase in pension promises can coordinate expectations and move the economy from the low-fertility trap to the high-fertility, stable regime.
with Lucas Herrenbrueck and Zijian Wang
Working paper (2026). We revisit the classic Fisher equation by showing that the standard formulation implicitly prices an unrealistically illiquid safe asset. Recognizing that real “safe” assets also serve as liquid means of payment, we show how moneyness affects the observed relationship between nominal rates, consumption growth, and inflation. This perspective helps resolve empirical puzzles in tests of the Fisher equation and clarifies how monetary policy transmits through financial markets.
with Yuqi Hu
Working paper (2025). Censorship and circumvention are strategic: censors adapt blocking while circumventors adjust obfuscation. I develop a unified game-theoretic framework where detectability is endogenous. The model characterizes one-shot and repeated-game equilibria, derives incentive-compatibility thresholds for sustained obfuscation, and shows how variance and seasonality in traffic can deter aggressive blocking under risk-averse censors.
with Yang Li
Work in progress. After the 2016 integration of China’s urban and rural pension systems, rural elderly individuals experience changes in healthcare utilization and medical spending. Using CHARLS panel data, we provide difference-in-differences and stacked RD–DID evidence showing that pension eligibility increases medical spending while having limited short-run effects on underlying health status.
Research Assistant, Simon Fraser University 06/2024 – Present
Assisted Prof. Lucas Herrenbrueck on liquidity pricing.
Research Assistant, Simon Fraser University 06/2023 – 01/2024
Assisted Prof. Serena Canaan on advisor religion and student outcomes.
Research Assistant, UBC Vancouver School of Economics 01/2020 – 09/2020
Worked with Prof. Li Hao on “Nash Equilibrium in Penalty Shootouts.”
Teaching Assistant, Simon Fraser University 09/2022 – Present