We study how extreme (high) temperatures affect firm dynamics—entry, exit, and (aggregate) productivity—in Chinese manufacturing sectors. Existing studies focus on the effects on incumbent firms (intensive margin), while we examine the effects on entry, exit (extensive margin), and their...

In this paper, I study a principal-multiagent model in which the principal adopts relative performance evaluation (RPE) as the compensation scheme, and agents are connected in an information network. The ability of each agent is private information, but adjacent agents in the information network...

In this paper, I study how 2007-2009 US financial crisis reshaped the structure of production networks and transmitted shocks from financial and real-estate (F/R) sectors to the entire economy through production networks. Sectors that are more closely related to F/R sectors lose more buyers and...

In this paper, I examine the role of firm lobbying in shaping the structure of US production networks, and its implications for misallocation in production networks across space. Using several instrumental variable strategies, I establish that firms that lobby have more buyers and suppliers, and...

I study organizations in which agents are connected through a fixed, un-directed, and unweighted network, and work collectively to produce a team output. Besides choosing own effort that contributes directly to the team output, agents can also exert helping effort to their network neighbors so...

In this paper, I study how anti-corruption shocks affect Chinese city leaders through political factions or social networks, or more specifically, how sharing college or workplace connections with government officials who have been investigated for corruption affects the city leaders' economic...

In this paper, I study the peer effects in corruption, or more specifically, how sharing hometown or college ties with other officials who have been investigated for corruption affects an official's likelihood of being investigated for corruption himself. In specifications including fixed...

We study the effects of state-owned enterprise (SOE) privatization on political distrust and social unrest in China. Exploiting variations in geography, time, and life-cycle stage induced by the influential 1998-2002 SOE reform and instrumental variable estimation, we document that working-age...