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About
Hi! I am Xu Lu. My research explores the incentives and constraints shaping asset demand, drawing out their aggregate implications for asset prices, monetary transmission, and financial stability.
I am an assistant professor of finance and business economics at the University of Washington. I received my PhD in Finance from Stanford GSB in 2023 and bachelor’s degrees in economics, finance, and mathematics from Tsinghua University in 2017.
Curriculum vitae (updated: Apr 2026).​​
Work
Working Papers ​
Banking on Inattention, with Lingxuan Wu.
Updated: Mar 2026.
VoxEU article: "Banking on inattention: When deposits hedge or amplify interest rate risk."
Supported by the NBER Financial Frictions and Market Risk Initiative, and AWS Cloud Credit for Research.
Monetary Transmission and Portfolio Rebalancing: A Cross-Sectional Approach, with Lingxuan Wu.
Updated: Feb 2026.
Revise and Resubmit, Journal of Financial Economics.
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Tracing the Impact of Payment Convenience on Deposits: Evidence from Depositor Activeness, with Yang Song, and Yao Zeng.
Updated: Sep 2025.
Knowledge at Wharton article: "How bank depositors are becoming more alert."
The Dynamics of Deposit Flightiness and its Impact on Financial Stability, with Kristian Blickle, Jane Li, and Yiming Ma.
Updated: Aug 2025.
Liberty Street Economics article: "The rise in deposit flightiness and its implications for financial stability​."
The Political Economy of China's Housing Boom, with Adam Zhang.
Updated: Mar 2023.
Accepted Papers
Remeasuring Scale in Active Management, with Shiyang Huang, Yang Song, and Hong Xiang.
Updated: May 2025​.
Accepted, Review of Financial Studies.
Teaching
Teach
Finance 423: Banking and the Financial System, Winter 2024
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