professional

Chao Wei

        Department of Economics
        2115 G Street, NW, Room 317
        George Washington University
        Washington, DC 20052

Email: cdwei@gwu.edu
Phone: (202) 994-2374

Professional Appointments

Associate Professor of Economics at George Washington University (2010 – Present)

Congressional Budget Office Economic Policy Fellow (August 2010 – May 2011)

Assistant professor of Economics at George Washington University (2003 – 2010)

Assistant Professor of Economics at University of North Carolina at Chapel Hill (2001 – 2003)

My Primary Research and Teaching Areas

Macroeconomics, Financial Economics, Energy Economics

My Education

       Ph.D. - Economics, Stanford University, 2001
        M.A. - Economics, Columbia University, 1996
        B.A. - International Finance, Fudan University, 1991

My C.V.

My Dissertation:

Energy, the Stock Market and the Putty-Clay Investment Model

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Publications:

“Taxation, Investment, and Asset Pricing,” (with Marika Santoro), Review of Economic Dynamics, 2011, 14(3), pp. 443-454.
“Inflation Illusion or No Illusion: What Did Pre- and Post-War Data Say?” (with Fred Joutz), Applied Financial Economics, 2011, 21, pp. 1599-1603.
"Inflation and Stock Prices: No Illusion," Journal of Money, Credit and Banking, March-April 2010, 42(2-3), pp. 325-346.
“A Note on the Impact of Progressive Dividend Taxation on Investment Decisions,” (with Marika Santoro), forthcoming, Macroeconomic Dynamics, 2010, DOI: 10.1017/S1365100509990964
"Does the Stock Market React to Unexpected Inflation Differently Across Business Cycles?" Applied Financial Economics), December 2009, 19 (24), pp. 1947-1959.
"A Quartet of Asset Pricing Models in Nominal and Real Economies," Journal of Economic Dynamics and Control, 2009, 33, pp. 154-165.
"Energy, the Stock Market and the Putty-Clay Investment Model," American Economic Review, March 2003, 93(1), pp. 311-324.

"Energy, the Stock Market and the Putty-Clay Investment Model," ( pdf ), an old version, revised March 26th, 2001. This version contains a cross-industry event study that shows that the energy-intensive industries were not the ones which suffered the greatest declines in the market value in 1974. This result was cited by Hobijn and Jovanovic (AER 2001).

" Income Equality and Redistribution in Five Countries ," (with Christina De Nardi and Liqian Ren), Federal Reserve Bank of Chicago Economic Perspectives, Second Quarter, 2000.

Working Papers:

“A Dynamic General Equilibrium Model of Driving, Gasoline Use and Vehicle Fuel Efficiency,” 2010.

This paper has been cited by Ramey and Vine, “Oil, Automobiles and the U.S. Economy: How Much Have Things Really Changed?” forthcoming, NBER Macroeconomics Annual

“The Welfare Cost of Capital Taxation: An Asset Market Approach,” (with Marika Santoro), 2011.
“To Scrap or Not to Scrap: A Dynamic Stochastic Discrete Choice Model of Vehicle Scrappage,” (with Shanjun Li), 2011

“Capital Income Taxation and Consumption Volatility,” (with Marika Santoro), Working Paper, 2009.
"Unexpected Inflation, Firm Characteristics and Equity Returns in a New-Keynesian Model," ( Abstract, Paper under Revision)
"A General Equilibrium Model of Inflation and Credit Spread: Theory and Empirical Evidence," (with Long Chen), Working Paper ( abstract )

Teaching:

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