Academic and Professional Qualification
- Ph.D., MSc, London School of Economics (LSE)
- MSc, Fudan University
- BSc, University of Shanghai for Science and Technology
Biography
Professor Xuewen Liu is currently a full professor at HKU. Prior to joining HKU, he was an associate professor and an assistant professor at HKUST and was an assistant professor at Imperial College Business School. He obtained his Ph.D. degree at London School of Economics (LSE).
Professor Liu is an economic theorist. His research areas include financial economics (corporate finance, financial markets, financial institutions, and financial crises), macroeconomics, growth and development, and Chinese economy.
Professor Liu has published in leading finance and economics journals, such as Journal of Finance, Journal of Financial Economics, Review of Financial Studies, Journal of Economic Theory, Journal of Monetary Economics.
Research Interest
- Financial Economics
- Macroeconomics
- Growth and Development
- Chinese Economy
Selected Publications
- Asset-market Sentiments and Business-cycle Fluctuations (with Pengfei Wang and Sichuang Xu), 2024, International Economic Review, forthcoming.
- Delayed Crises and Slow Recoveries (with Pengfei Wang and Zhongchao Yang), 2024, Journal of Financial Economics, 152, 103757.
- A Model of Systemic Bank Runs, 2023, Journal of Finance, 78(2), 731-793.
- Exchange-Traded Funds and Real Investment (with Constantinos Antoniou, Frank Weikai Li, Avanidhar Subrahmanyam, and Chengzhu Sun), 2023, Review of Financial Studies, 36(3), 1043–1093.
- Financial Markets, the Real Economy, and Self-Fulfilling Uncertainties (with Jess Benhabib and Pengfei Wang), 2019, Journal of Finance, 74(3), 1503-1557.
- Credit Expansion and Credit Misallocation (with Alexander Bleck), 2018, Journal of Monetary Economics, 94, 27-40.
- The Creditor Channel of Liquidity Crises (with Antonio S. Mello), 2017, Journal of Money, Credit and Banking, 49(6), 1113-1160.
- Endogenous Information Acquisition and Countercyclical Uncertainty (with Jess Benhabib and Pengfei Wang), 2016, Journal of Economic Theory, 165, 601-642.
- Interbank Market Freezes and Creditor Runs, 2016, Review of Financial Studies, 29(7), 1860-1910.
(Yihong Xia Best Paper Award, China International Conference in Finance, 2014) - Sentiments, Financial Markets, and Macroeconomic Fluctuations (with Jess Benhabib and Pengfei Wang), 2016, Journal of Financial Economics, 120(2), 420-443.
- Short-Selling Attacks and Creditor Runs, 2015, Management Science, 61(4), 814-830.
- The Fragile Capital Structure of Hedge Funds and the Limits to Arbitrage (with Antonio S. Mello), 2011, Journal of Financial Economics, 102(3), 491-506.
- Market Transparency and the Accounting Regime (with Alexander Bleck), 2007, Journal of Accounting Research, 45(2), 229-256.