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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

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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)

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My Primary Research and Teaching Areas

Macroeconomics, Financial Economics, Energy Economics

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My Education

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

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My C.V.

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My Dissertation:

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

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Publications:

• “A Dynamic General Equilibrium Model of Driving, Gasoline Use and Vehicle Fuel Efficiency,” Review of Economic Dynamics, forthcoming,
  
  
• “The Marginal Welfare Cost of Capital Taxation: Discounting Matters,” (with Marika Santoro), Journal of Economic Dynamics and Control, 2013, 37(4), pp. 897-909.
  
  
• “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), Macroeconomic Dynamics, 2012, 16, pp. 309-319, 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:

• “Green Stimulus: A Dynamic Discrete Analysis of Vehicle Scrappage Programs,” (with Shanjun Li), 2012

• "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 )

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Teaching:

• Intermediate Macro
• Money and Banking
• Macroeconomic Theory II
• Proseminar (Undergraduate Writing)

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Personal Links

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