Binbin Deng
Binbin Deng OFFICE:
Compass Lexecon 332 South Michigan Avenue Suite 1300 Chicago, IL 60604 312.470.0536 direct 312.322.0218 fax E-mail: [email protected]
EDUCATION 2016, Ph.D. in Economics, University of Chicago 2012, M.A. in Economics, University of Chicago 2011, B.Sc. in Economics and Finance, minors in Mathematics and Social Science, Hong Kong University of Science and Technology, with First Class Honors and the Academic Achievement Medal; SBM Dean’s List; SHSS Dean’s Award; Outstanding Student Award FIELDS OF SPECIALIZATION Empirical Finance, Financial Econometrics, Asset Pricing, Macroeconomics PROFESSIONAL EXPERIENCE Oct 2016 – Present, Senior Economist, Compass Lexecon, Chicago RESEARCH EXPERIENCE Dec 2014 – Dec 2015, Research Fellow, Fama-Miller Center for Research in Finance, Chicago (Shadow Banking) Jul – Dec 2013, Research Assistant, University of Chicago Booth School of Business, Chicago (Dynamic Factor Modeling of Multivariate Count Data) Jun 2009 – May 2011, Research Associate, Center for Economic Development, HKUST, Hong Kong (Demographic Transition and Economic Growth) TEACHING EXPERIENCE Mar 2014 – Jun 2016, Teaching Assistant, University of Chicago Department of Economics and the College, Chicago - Money and Banking
- Intermediate Macroeconomics - Topics in International Macroeconomics - Understanding Labor Markets: Theory, Empirics and Policies Jan 2016 – Mar 2016, Teaching Assistant, University of Chicago Harris School of Public Policy, Chicago - Economics for Public Policy Jan 2014 – Mar 2014, Teaching Assistant, University of Chicago Booth School of Business, Chicago - Financial Econometrics (MBA) - Time-series Analysis (PhD) Jul – Aug 2013, Adjunct Teaching Associate, Citadel LLC, Technology New Graduate Program, Chicago - FTAP Advanced Statistics (MS) Sep 2010 – Dec 2010, Teaching Assistant, University of Pennsylvania Department of Economics, Philadelphia - Economics of Family PUBLICATIONS “Counterparty Risk, Central Counterparty Clearing and Aggregate Risk,” Annals of Finance, 2017, 13(4), 355–400. “A Simple Model of Managerial Incentives and Portfolio-Investment Decision,” Journal of Business and Economics, 2016, 7(7), 1059-1076. “Regime Learning and Asset Prices in A Long-run Model: Theory,” Proceedings of the 2015 Cambridge Business & Economics Conference, Jul 2015. “Casual Talk on New-type PE Fund,” China Construction Bank Fortune, 2014, No.1, 5861 (with Zihan Xie, in Chinese). “Fertility and Economic Growth in the Process of Demographic Transition,” Contemporary Economics, 2009, No.20, 90-91 (in Chinese). WORKING PAPERS “A Simple Model of Political Cycles, Government Exposures and Stock Returns,” Eurasian Journal of Economics and Finance, accepted. “Regime Learning and Asset Prices in A Long-run Model,” Quarterly Review of Economics and Finance, under review. “Bilateral vs. Central Counterparty Clearing in OTC Markets: Counterparty Exposures, Allocation Efficiency, and Applications,” Economic Modelling, under review. “Ultra-High-frequency Stochastic Volatility: Realized Variation, Mean-reversion, and GMM Estimation,” Quantitative Finance, under review (with Sibo Yan).
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WORK IN PROGRESS “Shadow Banking, Capital Misallocation, and Macro Implications in China,” with Hao Zhou and Danxia Xie. “Low-price Premium and Stochastic Volatility of the Chinese A-Shares Market,” with Sibo Yan and Xiao Qiao. “Mean-reversion with Jumps: Volatility of Volatility and the Leverage Effects,” with Sibo Yan. “Learning about Technological Change and Asset Prices.” INVITED TALKS, DISCUSSIONS AND PRESENTATIONS May 2016 and 2017, 11th and 12th Annual International Symposium on Economic Theory, Policy and Applications, ATINER Jul 2015, 2015 Cambridge Business & Economics Conference, Cambridge University Apr 2015, 5th Annual HKUST Finance Conference, HKUST Business School Feb 2015, 6th LSE SU Emerging Markets Forum, London School of Economics Dec 2014, 2nd Paris Financial Management Conference, IPAG Business School May 2014, 14th Annual Trans-Atlantic Doctoral Conference, London Business School Apr 2014, Global Alternative Investment Forum Japan 2014, Private Equity International Mar 2014, CCBG Economics and Finance Seminar, CCSRG, University of Chicago Dec 2013, Cao Fengqi Financial Development Fund Forum, GSM, Peking University AD HOC REFEREE Annals of Finance, Economic Modelling, Quantitative Finance, Quarterly Journal of Finance, Quarterly Review of Economics and Finance, Review of Financial Economics HONORS AND AWARDS Dec 2014 – Dec 2015, John and Serena Liew Fellowship, Fama-Miller Center for Research in Finance Sep 2013 – Aug 2016, Social Sciences Doctoral Fellowships, University of Chicago Summer 2013, Social Sciences Division Summer Research Grant, University of Chicago Sep 2012 – Aug 2013, Munk Fellowship, University of Chicago Sep 2012 – Aug 2013, Financial-Tech Research Grant, ProMetric LLC Sep 2011 – Aug 2012, Delta Fellowship, King Birds Group International
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MEMBERSHIPS AND AFFILIATIONS Econometric Society (since Jun 2017) Chicago Chinese Social Research Group (since Sep 2014, Founding Committee Member) Western Economic Association International (since Jun 2014) American Finance Association (since Jul 2013) American Economic Association (since Mar 2012) Beta Gamma Sigma (since Sep 2010) LANGUAGES Hakka, Cantonese, Mandarin Chinese (native); English (fluent); Spanish (basic) SKILLS R, Stata, SAS, MATLAB, Mathematica, EViews, Python
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Compass Lexecon 332 South Michigan Avenue Suite 1300 Chicago, IL 60604 312.470.0536 direct 312.322.0218 fax E-mail: [email protected]
EDUCATION 2016, Ph.D. in Economics, University of Chicago 2012, M.A. in Economics, University of Chicago 2011, B.Sc. in Economics and Finance, minors in Mathematics and Social Science, Hong Kong University of Science and Technology, with First Class Honors and the Academic Achievement Medal; SBM Dean’s List; SHSS Dean’s Award; Outstanding Student Award FIELDS OF SPECIALIZATION Empirical Finance, Financial Econometrics, Asset Pricing, Macroeconomics PROFESSIONAL EXPERIENCE Oct 2016 – Present, Senior Economist, Compass Lexecon, Chicago RESEARCH EXPERIENCE Dec 2014 – Dec 2015, Research Fellow, Fama-Miller Center for Research in Finance, Chicago (Shadow Banking) Jul – Dec 2013, Research Assistant, University of Chicago Booth School of Business, Chicago (Dynamic Factor Modeling of Multivariate Count Data) Jun 2009 – May 2011, Research Associate, Center for Economic Development, HKUST, Hong Kong (Demographic Transition and Economic Growth) TEACHING EXPERIENCE Mar 2014 – Jun 2016, Teaching Assistant, University of Chicago Department of Economics and the College, Chicago - Money and Banking
- Intermediate Macroeconomics - Topics in International Macroeconomics - Understanding Labor Markets: Theory, Empirics and Policies Jan 2016 – Mar 2016, Teaching Assistant, University of Chicago Harris School of Public Policy, Chicago - Economics for Public Policy Jan 2014 – Mar 2014, Teaching Assistant, University of Chicago Booth School of Business, Chicago - Financial Econometrics (MBA) - Time-series Analysis (PhD) Jul – Aug 2013, Adjunct Teaching Associate, Citadel LLC, Technology New Graduate Program, Chicago - FTAP Advanced Statistics (MS) Sep 2010 – Dec 2010, Teaching Assistant, University of Pennsylvania Department of Economics, Philadelphia - Economics of Family PUBLICATIONS “Counterparty Risk, Central Counterparty Clearing and Aggregate Risk,” Annals of Finance, 2017, 13(4), 355–400. “A Simple Model of Managerial Incentives and Portfolio-Investment Decision,” Journal of Business and Economics, 2016, 7(7), 1059-1076. “Regime Learning and Asset Prices in A Long-run Model: Theory,” Proceedings of the 2015 Cambridge Business & Economics Conference, Jul 2015. “Casual Talk on New-type PE Fund,” China Construction Bank Fortune, 2014, No.1, 5861 (with Zihan Xie, in Chinese). “Fertility and Economic Growth in the Process of Demographic Transition,” Contemporary Economics, 2009, No.20, 90-91 (in Chinese). WORKING PAPERS “A Simple Model of Political Cycles, Government Exposures and Stock Returns,” Eurasian Journal of Economics and Finance, accepted. “Regime Learning and Asset Prices in A Long-run Model,” Quarterly Review of Economics and Finance, under review. “Bilateral vs. Central Counterparty Clearing in OTC Markets: Counterparty Exposures, Allocation Efficiency, and Applications,” Economic Modelling, under review. “Ultra-High-frequency Stochastic Volatility: Realized Variation, Mean-reversion, and GMM Estimation,” Quantitative Finance, under review (with Sibo Yan).
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WORK IN PROGRESS “Shadow Banking, Capital Misallocation, and Macro Implications in China,” with Hao Zhou and Danxia Xie. “Low-price Premium and Stochastic Volatility of the Chinese A-Shares Market,” with Sibo Yan and Xiao Qiao. “Mean-reversion with Jumps: Volatility of Volatility and the Leverage Effects,” with Sibo Yan. “Learning about Technological Change and Asset Prices.” INVITED TALKS, DISCUSSIONS AND PRESENTATIONS May 2016 and 2017, 11th and 12th Annual International Symposium on Economic Theory, Policy and Applications, ATINER Jul 2015, 2015 Cambridge Business & Economics Conference, Cambridge University Apr 2015, 5th Annual HKUST Finance Conference, HKUST Business School Feb 2015, 6th LSE SU Emerging Markets Forum, London School of Economics Dec 2014, 2nd Paris Financial Management Conference, IPAG Business School May 2014, 14th Annual Trans-Atlantic Doctoral Conference, London Business School Apr 2014, Global Alternative Investment Forum Japan 2014, Private Equity International Mar 2014, CCBG Economics and Finance Seminar, CCSRG, University of Chicago Dec 2013, Cao Fengqi Financial Development Fund Forum, GSM, Peking University AD HOC REFEREE Annals of Finance, Economic Modelling, Quantitative Finance, Quarterly Journal of Finance, Quarterly Review of Economics and Finance, Review of Financial Economics HONORS AND AWARDS Dec 2014 – Dec 2015, John and Serena Liew Fellowship, Fama-Miller Center for Research in Finance Sep 2013 – Aug 2016, Social Sciences Doctoral Fellowships, University of Chicago Summer 2013, Social Sciences Division Summer Research Grant, University of Chicago Sep 2012 – Aug 2013, Munk Fellowship, University of Chicago Sep 2012 – Aug 2013, Financial-Tech Research Grant, ProMetric LLC Sep 2011 – Aug 2012, Delta Fellowship, King Birds Group International
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MEMBERSHIPS AND AFFILIATIONS Econometric Society (since Jun 2017) Chicago Chinese Social Research Group (since Sep 2014, Founding Committee Member) Western Economic Association International (since Jun 2014) American Finance Association (since Jul 2013) American Economic Association (since Mar 2012) Beta Gamma Sigma (since Sep 2010) LANGUAGES Hakka, Cantonese, Mandarin Chinese (native); English (fluent); Spanish (basic) SKILLS R, Stata, SAS, MATLAB, Mathematica, EViews, Python
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