Daojing Zhai | Yale University

Welcome! I am a PhD Candidate in Finance at Yale University. My research interest lies in macrofinance, financial institutions and central banking. I am currently studying how government debt supply and unconventional monetary policy influence asset prices and broader corporate decisions.

Job Market Paper

[1] “When Treasuries Crowd the Debt Market: Treasury Market Inelasticity and the Basis Trade”

[Slides]

Working Paper

[2] “How Do Quantitative Easing and Tightening Affect Firms?”

with Egemen Eren and Denis Gorea, August 2025 [BIS Working Paper]

[3] “The Expansion and Dynamic Equilibrium Effects of Institutional Landlords”

with Zhichun Wang, October 2025