He Nie (聂禾)

About Me

• (untenured) Associate Professor in Finance, Wuhan Uni.; Associate Editor, Financial Economics Letters.

Research Interests

• Monetary and Fiscal Policy, Banking and Financial Markets, Environmental and Energy Economics

News

• [Nov. 2024] Does the real cost channel exist in China? How should China’s optimal fiscal-monetary policy coordination take this channel into account? Our paper provides a new perspective.
• [Nov. 2024] My paper on avoiding expectations-driven zero lower bound (ZLB) with the real cost channel has been awarded the First Prize at the 21st Chinese Finance Annual Meeting.
• [Sep. 2024] We propose a model to improve the interpretability of dimension reduction estimation methods for latent factors: Manifold-based Sparse Principal Component Analysis (MSPCA).
• [Jun. 2024] Can Local Happiness Attract Corporate Investment in China? Our study finds that companies invest more in happier regions, especially private firms and when GDP differences are small.
• [Jun. 2024] Why is consumption tax policy ineffective at ZLB? Our paper presents a new explanation.
• [May. 2024] What effect does the unexpected monetary policy have on corporate asset allocation? Does it exacerbate the trend of corporate financialization? Our latest paper offers a new explanation.
• [Feb. 2024] Our new paper about Salience theory in Cryptocurrency returns and trading volume. [Link]

Selected Works

• Macroeconomic effects of monetary and fiscal policy in tractable DSGE models:
  1. The Promises (and Perils) of Control-Contingent Forward Guidance
     with Jordan Roulleau-Pasdeloup
     Review of Economic Dynamics, 2023.
  2. Government Spending Multipliers with the Real Cost Channel
     Macroeconomic Dynamics, 2024.
• Quantitative modelling and financial econometrics modelling:
  1. Time-varying long-term memory in Bitcoin market
     with Jiang, Yonghong, and Ruan, Weihua
     Finance Research Letters, 2018.
  2. Do cryptocurrencies hedge against EPU and the equity market volatility during COVID-19?–New evidence from quantile coherency analysis
     with Jiang, Yonghong et al.
     Journal of International Financial Markets, Institutions and Money, 2021.
  3. The dynamics of crude oil future prices on China’s energy markets: Quantile‐on‐quantile and casualty‐in‐quantiles approaches
     with Meng, Juan and Mo, Bin
     Journal of Futures Markets, 2023.

TextBooks

1. Macroeconomics: 马工程; Mankiw;
2. International Finance: International economics theory and policy (Paul R. Krugman, Maurice Obstfeld etc.); International Macroeconomics;

Suggested Books

1. Introduction to Python for Econometrics, Statistics and Data Analysis by Kevin Sheppard