Bio
Wen Yao is the Associate Professor (with tenure) in School of Economics and Management, Tsinghua University. She is a Research Fellow at the National Institute for Fiscal Studies at Tsinghua University, a Research Fellow at the Institute for National Governance and Global Governance at Tsinghua University, and a Research Fellow at The Chinese University of Hong Kong —Tsinghua University Joint Research Center on Chinese Economy.
Her research interests lie in Macroeconomics, International Economics and Chinese Economy. Dr. Yao’s research has focused on growth and business cycle fluctuations, with a particular focus on the business cycles in China, earnings inequality in China and the business cycle transmissions across countries. Her research has published in top field journals such as, International Economic Review, Journal of Development Economics, Journal of International Economics, Review of Economic Dynamics and Journal of International Money and Finance. Dr. Yao’s research has been funded by the National Natural Science Foundation in China.
Research Field
Macroeconomics, International Economics and Chinese Economy
Work Experience
Current Position
Associate Professor (with tenure), School of Economics and Management, Tsinghua University
Research Fellow, National Center for Economic Research, Tsinghua University
Research Fellow, National Institute for Fiscal Studies, Tsinghua University
Research Fellow, Institute for National Governance and Global Governance, Tsinghua University
Research Fellow, Joint Research Center on Chinese Economy, The Chinese University of Hong Kong —Tsinghua University
Past Appointments
Assistant Professor of Economics, Tsinghua University, 2012-2019
Senior Economist, Bank of Canada, 2011-2012
Visiting Appointments
Visiting Scholar, People’s Bank of China, Aug. 2011 – Sept. 2011
Summer Intern, Federal Reserve Bank of New York, June 2010 – Aug. 2010
Summer Intern, Morgan Stanley, Hong Kong, June 2008 – Aug. 2008
Education
Ph.D. in Economics, University of Pennsylvania, 2006-2011
B.Eng. in Computer Systems Engineering, University of Birmingham, 2004-2006
B.S. in Computer Science, Fudan University, 2002-2006
Publications
Aidi Tang and Wen Yao, “The Effects of Financial Integration during Crises”, Journal of International Money and Finance, Volume 124, 102613, 2022.
Wen Yao and Xiaodong Zhu, “Structural Change and Aggregate Employment Fluctuations in China”, International Economic Review, Volume 62, No.1, 2021
Chong-En Bai, Qing Liu, and Wen Yao, “Earnings Inequality and China’s Preferential Lending Policy”, Journal of Development Economics, Volume 145, 102477, 2020
Wen Yao, “International Business Cycles and Financial Frictions”, Journal of International Economics (獨立作者), Volume 118, pp 283-291, 2019
Dario Caldara, Jesús Fernández-Villaverde, Juan F. Rubio-Ramírez, and Wen Yao, “Computing DSGE Models with Recursive Preferences and Stochastic Volatility”, Review of Economic Dynamics, Volume 15, Issue 2, 2012
姚雯，唐愛迪，《金融一體化與經濟周期的跨國傳導》，《經濟學報》，2020年02期，61-85頁
Grants
National Natural Science Foundation Grant, “Income Effect on Employment Fluctuations and Structural Change in China”, Principal Investigator, 2021-2024
Tsinghua University Initiative Scientific Research Grant, “Income Effect and Business Cycles in China”, Principal Investigator, 2020-2022
National Natural Science Foundation Grant, “Impact of Government Infrastructure Investment on Skill Premium, Capital Return and Welfare”, Principal Investigator, 2017-2019
Tsinghua University Initiative Scientific Research Grant, “Government Infrastructure Investment and Factor Misallocations”, Principal Investigator, 2016-2018
Ministry of Education Grant, “Infrastructure Investment and its Macroeconomic Implications: Theory, Evidence and Policy”, Substantial Contributor, 2016-2019
National Natural Science Foundation Grant, “International Capital Flow and Macro Prudential Policy”, Substantial Contributor, 2014-2016
Tsinghua University Research Foundation Grant, Principal Investigator, 2012-2015
CSWEP Fellowship, American Economic Association, 2010
