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Hello and welcome to my website!

My research is on international macroeconomics and finance, banking, trade, and macroeconomics, often through the lens of economic history.

I am affiliated with the NBER, CEPR, SIEPR, and the King Center.

Please email me if you are interested in part-time research assistance opportunities.


"Reshaping Global Trade: The Immediate and Long-Term Effects of Bank Failures"

Quarterly Journal of Economics, Forthcoming


Publisher Version (Open Access)
Abstract   •   Draft   •   Online Appendix

Awards: AQR Top Finance Graduate Award, BlackRock Applied Research Prize Finalist, French Finance Association Research Prize, Economic History Society New Researcher Prize, World Economic History Congress Poster Prize

Media: Trade Talks PodcastTelegraph UKEconomistHoover InstituteStanford GSB Insights

"Real Effects of Stabilizing Private Money Creation"

with He Yang

Journal of Financial Economics, R&R


Abstract   •   Draft

Awards: WFA Cubist Systematic Strategies PhD Candidate Award for Outstanding Research

Media: VoxEU

Work in Progress

"The Financing Channel of Gains From Trade"

with Carlos Burga and Adrien Matray

"Origins of Serial Sovereign Default"

with Sasha Indarte

Funding: NSF Grant #2117003

"Historical Banking Crises"

Annual Review of Financial Economics, In preparation

with Carola Frydman

"International Banks: Re-Agents of Globalization"

with Wilfried Kisling and Chris M. Meissner

Funding: British Academy Leverhulme Grant

© 2022 Chenzi Xu