Yizhen Wang
Email: wyz@cufe.edu.cn
Address: School of Finance, Central University of Finance and Economics, Shahe Higher Education Park, Changping District, Beijing 102206, China
Website: https://sites.google.com/view/yizhen-wang
Education
- Ph.D. in Economics, School of Economics and Management, Tsinghua University, Sept 2021 – June 2026
- B.S. in Mathematics & B.A. in Economics, Economics-Mathematics Experimental Class, Renmin University of China, Sept 2017 – June 2021
Employment
- Assistant Professor, School of Finance, Central University of Finance and Economics, July 2026 – present
Research Interests
Macrofinance, Government Debt, Open Economy, Monetary and Fiscal Policy
Publications
1. “Debt as a Blessing: A Capital Screening Mechanism,” with Feng Dong, Thomas J. Sargent and Pengfei Wang. PNAS, 123(27): e2602272123, 2026. (https://doi.org/10.1073/pnas.2602272123)
2. “The Evolution of Government Debt Theory in the Low-Interest-Rate Era: A Literature Review from the Perspective of Asset Bubbles” (《低利率时代下的政府债务理论演进：基于资产泡沫视角的研究述评》), with Liutang Gong, Ran Shi and Feng Dong. Quarterly Journal of Finance (《金融学季刊》), 2026.
Working Papers
1. “Global Collateral Demand and Public Debt Rollover,” with Feng Dong and Haozhou Tang. Conditionally accepted at American Economic Journal: Macroeconomics.
2. “A Ramsey Approach to Debt as a Blessing,” with Feng Dong, Thomas J. Sargent and Pengfei Wang.
3. “Local Government Debt Risk Assessment and Collaborative Governance: An Analysis Based on a Dynamic Spatial General Equilibrium Model” (《地方政府债务风险评估与协同治理：基于动态空间一般均衡模型的分析》), with Guang Yang and Feng Dong. R&R.
4. “Shifts in Real Estate Market Expectations and Macroeconomic Policy Regulation” (《房地产市场预期转变与宏观政策调控》), with Yuwei Luo and Feng Dong.
5. “Global Inflation and the Chinese Economy” (《全球通胀与中国经济》), with Haoning Sun and Feng Dong.
Teaching
Teaching Assistant, Tsinghua University:
- Advanced Econometrics I (Ph.D. course, 2022, 2023; instructor: Liangjun Su)
- Panel Data Econometrics (Ph.D. course, 2022; instructor: Liangjun Su)
- Advanced Macroeconomics IIa (Ph.D. course, 2023; instructor: Feng Dong)
- Principles of Economics (Undergraduate course, 2023, 2025; instructor: Feng Dong)
- Principles of Economics (II) (Undergraduate course, 2024, 2025; instructor: Feng Dong)
- Frontier Issues in the Chinese Economy (MBA course, 2024, 2025; instructor: Levin Zhu)
Internship
- Research Bureau (Macroeconomic Division), People’s Bank of China, Sept 2023 – Sept 2024
Academic Conferences
AMES-China 2026; CICF 2026; CICM 2025; ESWC 2025; WESAEM 2025; etc.
