Macroeconomics and financial markets are interlinked; the study of one is inconceivable without the other. Globalisation, on the other hand, connects different parts of the world through international trade and an increasingly integrated international capital market. My research aims to identify key statistical patterns within this framework and translate their implications into applicable insights.

Previously, I have interned at CICC Global Institute. I hold a Ph.D. in Economics from the University of Hong Kong, and a B.Econ. from Sun Yat-sen University.

yzhang20@connect.hku.hk

Room 1120, K.K. Leung Building, The University of Hong Kong, Pokfulam, Hong Kong

Research

• Country Heterogeneity in the Global Bond Cycle: A Foreign Investor Composition Perspective, with Jiayi Li.
  Summary: Government bonds owned more by long-term investors such as insurance companies and pensions are less sensitive to various global risk factors. (Previous title: Foreign Long-term Institutional Investors, Government Debt, and Global Financial Stability)
  Presented at 2024 SASCA PhD Conference, 12th UECE Conference on Economic and Financial Adjustment, and HKU.
• Quantitative Easing and Exchange Rates: High-frequency Evidence from the United States, the Eurozone, the United Kingdom, and Japan.
  Summary: Quantitative easing news strongly depreciates currency values within days.
  Presented at HKU.

Discussion

• Mortgage Refinancing and the Marginal Propensity to Consume (Pesce, Zhang, 2024, SASCA PhD Conference).

Teaching Assistantship

• Fall 2024 PMBA2963 Managerial Economics.
• Spring 2023, 2024 ECON6008 International Macroeconomics and Finance.