Assistant Professor of Finance and Business Economics
Foster School of Business, University of Washington
My research centers on financial intermediation. I am especially drawn to understanding how asset demand frictions shape the structure and stability of intermediaries and affect the transmission of monetary policy. In deposit markets, my papers highlight that depositor behavior gives rise to banks' market power, with new implications for aggregate monetary pass-through and financial stability. In equity markets, my work shows how institutional rebalancing and the structure of active management help explain puzzles in asset pricing and monetary transmission.
I received my PhD from Stanford GSB in 2023. Prior to that, I received bachelor's degrees from Tsinghua University in 2017.
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