About me

I’m a PhD candidate from the Department of Economics, Business School, Hong Kong University of Science and Technology. I obtained my master’s degree in Public Finance from the Chinese Academy of Fiscal Science, Ministry of Finance of China, and bachelor’s degree in Financial Engineering from Xiamen University. I was a visiting scholar at the University of California San Diego and a senior associate at the Bank for International Settlements.

My CV. Email: jyaoam@connect.ust.hk

Research Interests

My research interests lie in International Macro and Finance, Monetary Economics, International Trade, and Chinese Economy. My current and future work centers on two broad themes:

• From macro to micro: Understanding the causal effects and transmission mechanisms of macroeconomic shocks—such as monetary policy surprises—on real economic outcomes and financial markets, with a particular focus on international propagation. In this line, I employ state-of-the-art causal identification strategies and leverage detailed micro-level datasets—such as firm-product-level customs records, high-frequency nighttime light data, land transaction information, bond issuance data, forecast surveys, and intraday financial market variations—to trace the propagation of macro shocks.
• From micro to macro: Studying the macroeconomic implications of market frictions and the design of optimal policy responses. In this regard, I develop structural DSGE models to examine how financial frictions shape the responses of inflation, output, and trade to macroeconomic disturbances. I also analyze optimal policy design and potential international policy coordination in these contexts.