Xuewen Liu

University of Hong Kong (HKU), HKU Business School

Professor

Pokfulam Road

Hong Kong

China

http://xuewenliu.com/

  • University of Hong Kong (HKU), HKU Business School

SCHOLARLY PAPERS

19

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SSRN CITATIONS
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115

CROSSREF CITATIONS

40

Scholarly Papers (19)

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1.

A Model of China's State Capitalism

Number of pages: 76 Posted: 20 May 2012 Last Revised: 15 Aug 2015
Xi Li, Xuewen Liu and Yong Wang
University of Arkansas - Department of Finance, University of Hong Kong (HKU), HKU Business School and Peking University- Institute of New Structural Economics
Downloads 3,240 (5,819)
Citation 32

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State Capitalism, China Economy, Growth and Development, SOEs, Structural Change, International Trade, Sustainability

2.

Exchange-Traded Funds and Real Investment

Review of Financial Studies, forthcoming
Number of pages: 91 Posted: 24 Feb 2018 Last Revised: 16 May 2022
Constantinos Antoniou, Frank Weikai Li, Xuewen Liu, Avanidhar Subrahmanyam and Chengzhu Sun
University of Warwick - Warwick Business School, Singapore Management University - Lee Kong Chian School of Business, University of Hong Kong (HKU), HKU Business School, University of California, Los Angeles (UCLA) - Finance Area and The Hong Kong Polytechnic University
Downloads 995 (35,933)
Citation 2

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ETFs, Real Efficiency, Informational Efficiency, Managerial Learning

3.

The Creditor Channel of Liquidity Crises

Journal of Money, Credit, and Banking, Forthcoming
Number of pages: 53 Posted: 06 Apr 2009 Last Revised: 24 Sep 2018
Xuewen Liu and Antonio S. Mello
University of Hong Kong (HKU), HKU Business School and University of Wisconsin - Madison - Department of Finance, Investment and Banking
Downloads 678 (60,264)
Citation 4

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systemic crises, creditor runs, market liquidity, coordination risk, amplifications

4.

The Fragile Capital Structure of Hedge Funds and the Limits to Arbitrage

Journal of Financial Economics (JFE), Vol. 102, No. 3, 2011
Number of pages: 38 Posted: 30 Apr 2009 Last Revised: 02 Apr 2014
Xuewen Liu and Antonio S. Mello
University of Hong Kong (HKU), HKU Business School and University of Wisconsin - Madison - Department of Finance, Investment and Banking
Downloads 396 (116,352)
Citation 13

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Limits to arbitrage; Coordination risk; Fragile capital structure; Market liquidity

5.

Credit Expansion and Credit Misallocation

Journal of Monetary Economics, Vol. 94, 2018
Number of pages: 38 Posted: 18 Oct 2011 Last Revised: 11 Sep 2018
Alexander Bleck and Xuewen Liu
University of British Columbia - Sauder School of Business and University of Hong Kong (HKU), HKU Business School
Downloads 342 (137,036)
Citation 12

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Corporate liquidity; Collateral values; Asset specificity; Speculation

6.

Financial Markets, the Real Economy, and Self-Fulfilling Uncertainties

Downloads 230 (205,291)
Citation 18

Financial Markets, the Real Economy, and Self-Fulfilling Uncertainties

Journal of Finance, Forthcoming
Number of pages: 54 Posted: 07 Mar 2017 Last Revised: 16 Jan 2019
Jess Benhabib, Xuewen Liu and Pengfei Wang
New York University - Leonard N. Stern School of Business - Department of Economics, University of Hong Kong (HKU), HKU Business School and HKUST, Department of Economics
Downloads 210 (223,582)
Citation 2

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Information production, Strategic complementarity, Real economy, Two-way learning, Economic uncertainty

Financial Markets, the Real Economy, and Self-Fulfilling Uncertainties

NBER Working Paper No. w24984
Number of pages: 65 Posted: 17 Sep 2018 Last Revised: 08 Oct 2022
Jess Benhabib, Xuewen Liu and Pengfei Wang
New York University - Leonard N. Stern School of Business - Department of Economics, University of Hong Kong (HKU), HKU Business School and HKUST, Department of Economics
Downloads 20 (805,679)
Citation 13

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7.

Interbank Market Freezes and Creditor Runs

Review of Financial Studies, Vol. 29, No. 7, 2016
Number of pages: 63 Posted: 06 Jan 2014 Last Revised: 18 Sep 2016
Xuewen Liu
University of Hong Kong (HKU), HKU Business School
Downloads 230 (205,291)
Citation 10

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Interbank market, creditor runs, insolvency risk, illiquidity risk, global games, general equilibrium

8.

Short-Selling Attacks and Creditor Runs

Management Science, Vol. 61, No. 4, pp. 814-830, 2015.
Number of pages: 41 Posted: 09 Mar 2011 Last Revised: 25 May 2015
Xuewen Liu
University of Hong Kong (HKU), HKU Business School
Downloads 226 (208,754)
Citation 10

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Short-selling attacks, Creditor runs, Coordination, Information asymmetry, Feedback

9.

A Dynamic Model of Systemic Bank Runs

Number of pages: 42 Posted: 08 May 2019 Last Revised: 09 May 2019
Xuewen Liu
University of Hong Kong (HKU), HKU Business School
Downloads 196 (238,144)
Citation 1

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10.

Diversification and Systemic Bank Runs

Number of pages: 36 Posted: 18 Jul 2018 Last Revised: 26 May 2019
Xuewen Liu
University of Hong Kong (HKU), HKU Business School
Downloads 194 (240,299)
Citation 5

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Diversification, market liquidity, panic runs, systemic crises, coordination risk

11.

Sentiments, Financial Markets, and Macroeconomic Fluctuations

Downloads 170 (269,668)
Citation 14

Sentiments, Financial Markets, and Macroeconomic Fluctuations

Journal of Financial Economics (JFE), Vol. 120, No. 2, 2016
Number of pages: 45 Posted: 09 Feb 2015 Last Revised: 18 Sep 2016
Jess Benhabib, Xuewen Liu and Pengfei Wang
New York University - Leonard N. Stern School of Business - Department of Economics, University of Hong Kong (HKU), HKU Business School and HKUST, Department of Economics
Downloads 136 (324,799)
Citation 4

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Sentiments, Asset Prices, Feedback, Real Economy, Self-fulfilling Equilibrium

Sentiments, Financial Markets, and Macroeconomic Fluctuations

NBER Working Paper No. w21294
Number of pages: 52 Posted: 22 Jun 2015 Last Revised: 09 Mar 2023
Jess Benhabib, Xuewen Liu and Pengfei Wang
New York University - Leonard N. Stern School of Business - Department of Economics, University of Hong Kong (HKU), HKU Business School and HKUST, Department of Economics
Downloads 34 (696,077)
Citation 2

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12.

Delayed Crises and Slow Recoveries

Number of pages: 59 Posted: 31 Mar 2020 Last Revised: 17 Feb 2023
Xuewen Liu, Pengfei Wang and Zhongchao Yang
University of Hong Kong (HKU), HKU Business School, HKUST, Department of Economics and School of Economics and Management - Economics and Management School
Downloads 141 (314,612)

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13.

A Model of Systemic Bank Runs

Journal of Finance, forthcoming
Number of pages: 61 Posted: 02 Feb 2023 Last Revised: 24 Mar 2023
Xuewen Liu
University of Hong Kong (HKU), HKU Business School
Downloads 120 (366,250)

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14.

Self-Fulfilling Risk Panics: An Expected Utility Framework

Downloads 99 (408,766)
Citation 1

Self-Fulfilling Risk Panics: An Expected Utility Framework

NYU Stern School of Business Forthcoming
Number of pages: 26 Posted: 21 Jan 2021
Jess Benhabib, Xuewen Liu and Pengfei Wang
New York University - Leonard N. Stern School of Business - Department of Economics, University of Hong Kong (HKU), HKU Business School and HKUST, Department of Economics
Downloads 96 (420,617)

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Self-Fulfilling Risk Panics: An Expected Utility Framework

NBER Working Paper No. w28284, NYU Stern School of Business Forthcoming
Number of pages: 27 Posted: 28 Dec 2020 Last Revised: 14 Oct 2022
Jess Benhabib, Xuewen Liu and Pengfei Wang
New York University - Leonard N. Stern School of Business - Department of Economics, University of Hong Kong (HKU), HKU Business School and Peking University HSBC Business School
Downloads 3 (966,370)

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15.

Market Liquidity and Creditor Runs: Feedback, Amplification, and Multiplicity

Number of pages: 22 Posted: 18 Jul 2018 Last Revised: 08 Aug 2018
Xuewen Liu
University of Hong Kong (HKU), HKU Business School
Downloads 95 (417,283)
Citation 1

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Global games, bank runs, strategic complementarities, equilibrium multiplicity, systemic crises

16.

Asset-market Sentiments and Business-cycle Fluctuations

Number of pages: 62 Posted: 19 Aug 2022
Xuewen Liu, Pengfei Wang and Sichuang Xu
University of Hong Kong (HKU), HKU Business School, Peking University HSBC Business School and The Chinese University of Hong Kong, Shenzhen
Downloads 65 (519,110)

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Sentiment, Self-Fulfilling Risk, Asset Market, Housing Price, Macroeconomy

17.

Endogenous Information Acquisition and Countercyclical Uncertainty

Journal of Economic Theory, Vol. 165, 2016
Number of pages: 49 Posted: 19 Sep 2016
Jess Benhabib, Xuewen Liu and Pengfei Wang
New York University - Leonard N. Stern School of Business - Department of Economics, University of Hong Kong (HKU), HKU Business School and HKUST, Department of Economics
Downloads 60 (540,111)
Citation 1

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Information acquisition, Countercyclical uncertainty, Strategic complementarity and substitutability, Resource misallocation

18.

Consumption-led Industrial Upgrading

Number of pages: 47 Posted: 16 Mar 2023
Xuewen Liu and Sichuang Xu
University of Hong Kong (HKU), HKU Business School and The Chinese University of Hong Kong, Shenzhen
Downloads 20 (795,564)

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19.

The Capital Structure of Private Equity-Backed Firms

Posted: 06 May 2009 Last Revised: 18 Oct 2011
Xuewen Liu
University of Hong Kong (HKU), HKU Business School

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