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Ye Li
Associate Professor of Finance and Business Economics
William A. Fowler Endowed Professor

Education

  • PhD Columbia University (2017)

Expertise

asset pricing, financial institutions, fintech, liquidity in the macroeconomy

Selected Publications

  1. Firm Quality Dynamics and the Slippery Slope of Credit Intervention, with Wenhao Li, forthcoming at the Review of Economic Studies
  2. Dynamic Banking and the Value of Deposits, with Patrick Bolton, Neng Wang, Jinqiang Yang, the Journal of Finance (2025)
  3. Fragile New Economy: Intangible Capital, Corporate Savings Glut, and Financial Instability, the American Economic Review (2025)
  4. Network Risk and Key Players: A Structural Analysis of Interbank Liquidity, with Ed Denbee, Christian Julliard, Kathy Yuan, the Journal of Financial Economics (Lead Article) Volume 141, Issue 3 (2021)
  5. Tokenomics: Dynamic Adoption and Valuation, with William Cong, Neng Wang, the Review of Financial Studies (Editor's Choice) Volume 34 Issue 3 (2021)
  6. Token-based Platform Finance, with William Cong, Neng Wang, the Journal of Financial Economics (2022)

Working Papers

  1. Information-Concealing Credit Architecture, with Gary Gorton, Guillermo Ordoñez (2025)
  2. Financial Intermediation with Fragile Seigniorage: A Dynamic Model of Stablecoin Issuers, with Simon Mayer (2025)
  3. The Information Cliff, with Chen Wang (2025)
  4. Data as a Networked Asset, with Bo Bian, Qiushi Huang, Huan Tang (2024), Revise and Resubmit at the Journal of Political Economy
  5. The Network Structure of Money Multiplier, with Yi Li, Huijun Sun (2023)
  6. Financial Intermediation Cycles without Fire Sales (2022)
  7. Payment Risk and Bank Lending, with Yi Li (2021)
Ye Li

Academic Department

Finance & Business Economics