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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 (2022)


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

"Banking Crises in Historical Perspective"

Annual Review of Financial Economics, In preparation

with Carola Frydman


"Real Effects of Supplying Safe Private Money"

Journal of Financial Economics, R&R

with He Yang

Abstract   •   Draft

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

Media: VoxEU

"Liquidity, Debt Denomination, and Currency Dominance"

with Antonio Coppola and Arvind Krishnamurthy

"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

"International Banks: Re-Agents of Globalization"

with Wilfried Kisling and Chris M. Meissner

Funding: British Academy Leverhulme Grant

© 2022 Chenzi Xu