• YUAN, Zhichao

    Visiting Professor

  • Email:

    zcyuan@saif.sjtu.edu.cn

  • 　　

    　　

  • Support Staff:

    Yaqian Ding

  • Support Staff Email:

    yqding@saif.sjtu.edu.cn

  • Research Interests

    Bubbles and Crises, Liquidity, Mutual Funds, Hedge Funds, and Asset Pricing.

Professor Yuan is a Visiting Professor at Shanghai Advanced Institute of Finance (SAIF), and a Professor of Finance at London School of Economics and Political Science. Prior to receiving her Ph.D. in Economics, she worked briefly in the Emerging Markets Trading Desk at J. P. Morgan (now JPMorgan-Chase). Professor Yuan’s research is in the area of developing new asset pricing theories with heterogeneous information and market frictions and testing their empirical implications. Her articles have appeared in leading journals including the Journal of Finance, Review of Financial Studies, and Review of Economic Studies. As a member of FMG and CEPR, she has received Houblon-Norman Fellowship at the Bank of England.


Journal Publications

1. Julliard, Christian, Ran Shi, and Kathy Yuan, 2023, The spread of COVID-19 in London: Network effects and optimal lockdowns, Journal of Econometrics, 235(2), 2125-2154.

2. Ozdenoren, Emre, Kathy Yuan, and Shengxing Zhang, 2023, Dynamic Asset-Backed Security Design, Review of Economic Studies, 90(6), 3282-3314.

3. Chabakauri, Georgy, Kathy Yuan, and Konstantinos E. Zachariadis, 2022, Multi-asset Noisy Rational Expectations Equilibrium with Contingent Claims, Review of Economic Studies, 89(5), 2445-2490.

4. Denbee, Edward, Christian Julliard, Ye Li, and Kathy Yuan, 2021, Network risk and key players: A structural analysis of interbank liquidity, Journal of Financial Economics, 141(3), 831-859.

5. Cuñat, Vicente, Dragana Cvijanovic, and Kathy Yuan, 2018, Within-bank spillovers of real estate shocks, Review of Corporate Finance Studies, 7(2), 157-193.

6. Ozdenoren, Emre, and Kathy Yuan, 2017, Contractual externalities and systemic risk, Review of Economic Studies, 84(4), 1789-1817.

7. Goldstein, Itay, Emre Ozdenoren, and Kathy Yuan, 2013, Trading frenzies and their impact on real investment, Journal of Financial Economics, 109(2), 566-582.

8. Goldstein, Itay, Emre Ozdenoren, and Kathy Yuan, 2011, Learning and complementarities in speculative attacks, Review of Economic Studies, 78(1), 263-292.

9. Gupta, Nandini, and Kathy Yuan, 2009, On the growth effect of stock market liberalizations, Review of Financial Studies, 22(11), 4715-4752.

10. Ozdenoren, Emre, and Kathy Yuan, 2008, Feedback effects and asset prices, Journal of Finance, 63(4), 1939-1975.

11. Dittmar, Robert F., and Kathy Yuan, 2008, Do sovereign bonds benefit corporate bonds in emerging markets?, Review of Financial Studies, 21(5), 1983-2014.

12. Yuan, Kathy, Lu Zheng, and Qiaoqiao Zhu, 2006, Are investors moonstruck? Lunar phases and stock returns, Journal of Empirical Finance, 13(1), 1-23.

13. Boyer, Brian H., Tomomi Kumagai, and Kathy Yuan, 2006, How do crises spread? Evidence from accessible and inaccessible stock indices, Journal of Finance, 61(2), 957-1003.

14. Yuan, Kathy, 2005, The liquidity service of benchmark securities, Journal of the European Economic Association, 3(5), 1156-1180.

15. Yuan, Kathy, 2005, Asymmetric price movements and borrowing constraints: A rational expectations equilibrium model of crises, contagion, and confusion, Journal of Finance, 60(1), 379-411.

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