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Dr. Heng CHEN


Associate Professor

2857 8506
Dr. Heng CHEN

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Heng CHEN finished his PhD studies at the University of Zurich in 2010.  Before he moved to Switzerland, Heng has also studied at Harvard University, Stockholm University and the Chinese Academy of Social Sciences.  Heng specializes in macroeconomics and Chinese Economy.  He works intensively on topics related to economic and political crises, such as bank runs, currency attacks and political collective actions, e.g., the driving force and propagation mechanisms of crises. He is also interested in saving behaviors at both household and firm levels.  In this line of research, he develops dynamic stochastic general equilibrium models with heterogeneous agents or firms. Heng follows the development of Chinese economy closely and works on various pertinent issues.

Area of Interest

  • Learning in Macroeconomics
  • Political Economy             
  • Chinese Economy


  • Ph.D., University of Zurich                  
  • M.A., Chinese Academy of Social Sciences                 
  • B.A., China Agricultural University

Selected Publications

  • "Aspiring for Change: A Theory of Middle Class Activism"
    (with Wing Suen), Forthcoming, The Economic Journal.
  • "The Power of Whispers: A Theory of Rumor, Communication and Revolution"
    (with Yang Lu and Wing Suen), International Economic Review, 2016, 57(1): 89-116
  • "Falling Dominoes: A Theory of Rare Events and Crisis Contagion"
    (with Wing Suen), American Economic Journal: Microeconomics, 2016, 8(1): 228-55
  • "Attention Misallocation, Social Welfare and Policy Implications"
    (with Yulei Luo and Guangyu Pei), Journal of Economic Dynamics and Control, 2015, 59(Oct): 37-57

Working Papers

  • "The Great Famine and Household Saving in China"
    (with Maelys Rupelle)
  • "Competition for Attention in the News Media Market" 
    (with Wing Suen)
  • "The Role of Information Intermediary in Financial Market"  
    (with Guangyu Pei)
  • "The Great Gatsby Curve, Bequest and Preference Transmission" 
    (with Baochun Peng)
  • "The Saving Puzzle and Intergenerational Habit Persistence" 
    (with Qingyuan Du and Jianjun Xu)
  • "The Self-financing, Corporate Savings and Trade Liberalization"
    (with Qingyuan Du and Yongjin Wang)
  • "Financial Market Diversification and Excess Consumption Growth Volatility in Developing Countries"
  • "Mortgage Loans, Risk Sharing and the Decline of the Household Saving Rate"
    (with Christoph Winter)


Office Room 915, KK Leung Building
Tel. (852)2857 8506

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