Papers

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The Rise of Factor Investing: Asset Market Implications and "Passive" Security Design

Douglas Xu, Shiyang Huang Lin William Cong (叢林)   Nov 21,2024

Working Paper No.00133-01

We model financial innovations such as Exchange-Traded Funds, smart beta products, and many index-based vehicles as composite securities (CSs) that... Read More

Production, Trade, and Cross-Border Data Flows

Qing Chang,Longtian Zhang,Liyong Wang, Lin William Cong (叢林)   Nov 21,2024

Working Paper No.00135-01

We build a tractable general equilibrium model to analyze the effects of cross-border data flows and pre-existing development gaps in... Read More