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Xiaodong Zhu

Professor Emeritus, Department of Economics (UTM)
xzhu@chass.utoronto.ca
905-828-3907
homes.chass.utoronto.ca/~xzhu/
www.utm.utoronto.ca/economics/people/zhu-xiaodong

Areas of interest

  • Macroeconomics
  • Public Economics
  • Economic Development
  • Financial Economics

Biography

Main Bio

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Select publications

  • Ju, J., Ma, H., Wang, Z., & Zhu, X. (2024). Trade wars and industrial policy competitions: Understanding the US-China economic conflicts. Journal of Monetary Economics, 141, 42-58. https://doi.org/10.1016/j.jmoneco.2023.10.012
  • "Trade Wars and Industrial Policy Competitions: Understanding the US-China Economic Conflicts" (with Hong Ma, Zi Wang, Xiaodong Zhu), Journal of Monetary Economics, 141 (1), 42-58, 2024.
  • Chen, Chaoran, Habib, Ashique, and Zhu, Xiaodong. 2023. "Finance, Managerial Inputs, and Misallocation." American Economic Review: Insights, 5 (3): 409-26. DOI: 10.1257/aeri.20220285.
  • Zhu, Xiaodong. 2023. "China’s Productivity Challenge." Presentation at The Arc of the Chinese Economy, the 2023 annual conference of the Center for the Study of Contemporary China, March. [PDF] from xiaodongzhu.net.
  • “Structural Change and Aggregate Employment Fluctuations in China” (with Wen Yao), International Economic Review, 62 (1), 65-100, 2021.
  • “The Varying Shadow of China’s Banking System”, Journal of Comparative Economics, 49 (1), 135-146, 2021.
  • “The Effect of Migration Policy on Growth, Structural Change, and Regional Inequality in China” (with Tongtong Hao, Ruiqi Sun, and Trevor Tombe) Journal of Monetary Economics, 113, 112-134, 2020.
  • “Trade, Migration, and Productivity: A Quantitative Analysis of China” (with Trevor Tombe) American Economic Review, 109 (5) 1843-72, 2019.
  • “Trade, Migration and Growth: Evidence from China” 2016 Werner Sichel Lecture in The Impacts of China's Rise on the Pacific and the World, (edited by Wei-Chiao Huang and Huizhong Zhou) W.E. Upjohn Institute, 2018.
  • “Modernization of Agriculture and Long-Term Growth” (with Dennis Tao Yang), Journal of Monetary Economics, 60, 367-382, 2013.
  • “Factor Market Distortions across Time, Space and Sectors in China” (with Loren Brandt and Trevor Tombe), Review of Economic Dynamics, 16, 39-58, 2013.
  • “Understanding China’s Growth”, Journal of Economic Perspectives, 26 (4), 103-124, Fall 2012,
  • “Agriculture and aggregate productivity: A quantitative cross-country analysis” (with Diego Restuccia and Dennis Tao Yang), Journal of Monetary Economics, 55 (2), pp. 234-250, March 2008.
  • “Growth and structural transformation in China,” (with Loren Brandt and Chang-Tai Hsieh) in Loren Brandt and Thomas Rawski ed. China’s Great Economic Transformation, pp.569-632. Cambridge University Press, 2008.
  • “China’s Banking Sector and Economic Growth,” with Loren Brandt in Charles Calormiris (ed.) China’s Financial Transition at Cross-Road, pp.86-136, Columbia University Press, 2007.
  • “International Dimensions of China’s Long Boom,” (with Loren Brandt and Thomas G. Rawski), in William W. Keller and Thomas Rawski ed. China’s Rise and the Balance of Influence in Asia, pp. 14-46, University of Pittsburgh Press, 2007.
  • “Using Financial Market Information to Enhance Canadian Fiscal Policy,” (with Huw Lloyd-Ellis) Public Finance Management. Vol. 6 (2), August 2006, pp. 151-185.
  • “Tax Smoothing with Stochastic Interest Rates: A Re-assessment of Clinton’s Fiscal Legacy,” (with Huw Lloyd-Ellis and Shiqiang Zhan), Journal of Money, Credit, and Banking, 2003.
  • “Sharing Catastrophe Risk under Model Uncertainty,” in Heping Zhang and Jian Huang ed., Development of Modern Statistics and Related Topics, pp.179-88, World Scientific Publishing Co, River Edge, New Jersey, 2003.
  • “What Ails China: A Long-Run Perspective on Growth and Inflation (or Deflation) in China,” (with Loren Brandt) in A.E. Safarian and Wendy Dobson ed., East Asia in Transition: Economic and Security Challenges, pp. 49-72, University of Toronto Press, Toronto, 2002.
  • “Differential Fecundity and Gender Biased Parental Investments,” (with Aloysius Siow) Review of Economic Dynamics 5, pp.999-1024, 2002.
  • “Fiscal Shocks and Fiscal Risk Management,” (with Huw Lloyd-Ellis) Journal of Monetary Economics, 48, pp.309-38, 2001.
  • “Soft Budget Constraints and Inflation Cycles,” (with Loren Brandt) Journal of Development Economics, 64, pp.437-57, 2001.
  • “Redistribution in a Decentralized Economy: Growth and Inflation in China under Reform,” (with Loren Brandt) Journal of Political Economy, 108, pp.422-39, 2000.
  • “Financial Structure and Macro-Stability: Comparison between Taiwan and Mainland China,” (in Chinese) in S.F. Song and X. H. Fang ed., Raising International Competitiveness: Taiwan’s Experience and Its Implications for Mainland China, pp.143- 57. China Economic Press, Beijing, 1998.
  • “The Creation of Plants and Firms,” (with Aloysius Siow) Journal of Economic Dynamics and Control, 22, pp. 141-78, 1997.
  • “Endogenous Capital Utilization, Investor's Effort, and Optimal Fiscal Policy,” Journal of Monetary Economics, 36, pp. 655-77, 1995.
  • “Optimal Fiscal Policy in a Stochastic Growth Model,” Journal of Economic Theory, 58, pp. 250-89, 1992.
  • “Effects of Autocorrelations and Temporal Sampling Schemes on Estimates of Trend and Spatial Correlation,” (with G.C. Tiao et al.) Journal of Geophysical Research-Atmospheres, 95, pp.20507-517, 1990. “
  • Correlation of K-groups of Random Variables,” (with Yaoting Zhang), Chinese Journal of Applied Probability and Statistics, 4 (1988)

Awards & recognition

  • CICM Lecture, China International Conference for Macroeconomics, June 2021
  • Dean’s Excellence Award, University of Toronto, 2013, 2015-2017, 2019
  • Keynote Speaker, China Economics Annual Conference, December, 2019
  • Keynote Speaker, China and the World Economy annual conference, July 2019
  • Invited Speaker, China International Conference in Macroeconomics, June 2018
  • Keynote Speaker, New Structural Economics Winter Camp, December 2017 • Keynote Speaker, First FISF Economics and Finance Conference, October 2017
  • Invited Speaker, China Meeting of Econometric Society, June 2017
  •  Sichel Lecture, Western Michigan University, April 2016
  • Huada Lecture, Huazhong Normal University, March 2014
  •  Keynote Speaker, International Conference on Chinese Economy, Hong Kong Institute of Monetary Research, January 2013
  •  Mary-Lynn Williamson Lecture, University of Toronto Mississauga, November 2012
  • HSBC Lecture on Chinese Economy, Fudan University, December 2011
  • Lynde and Harry Bradley Foundation Fellowship, 1990-1991
  • University of Chicago Fellowship, 1986-1990