Minli Yu and team win SBFC Best PhD paper award

PhD candidate Minli Yu and her team have won the Best PhD paper award at the Sydney Banking and Financial Stability Conference (SBFC). They received the award for the paper titled ‘The cross-border effect of monetary policy on house price expectations'.

Minli Yu is a PhD candidate at the Faculty of Economics and Business’ (FEB) department of Global Economics & Management (GEM). Her co-authors Jakob de Haan and Daniel te Kaat are her supervisors. De Haan is Professor of Political Economy at FEB’s GEM department and Te Kaat is Associate Professor of Finance at FEB’s department of Economics, Econometrics and Finance (EEF). In their paper, Yu, Te Kaat and De Haan study the cross-border transmission of monetary policy shocks on house price expectations. Specifically, they examine the effect of China’s monetary policy on house price expectations in Canada.

Their findings suggest that tighter monetary policy in China leads to lower expected house price growth in Canadian regions with large Chinese populations. This effect is transmitted through lower capital outflows, higher loan interest rates, and lower Chinese house prices. Yu, Te Kaat and De Haan’s study suggests that the monetary policy of a country from which real estate capital inflows originate can explain the differences in local house price expectations across regions.

This research project is part of Yu’s PhD dissertation. In her dissertation, she examines the effectiveness of central bank communication and monetary policy, focusing on China. Yu is honored to receive this recognition for her work. ‘I really appreciate my supervisors’ guidance, and attending SBFC was a rewarding experience.’

Sydney Banking and Financial Stability Conference

SBFC is an annual conference organized by the University of Sydney Business School that provides a platform where international academics can gather, interact, and exchange their latest insights in Banking, Financial system stability, and other topics within the traditional and emerging fields of Finance. SBFC stimulates collaborative endeavours to address the most pressing and contemporary issues concerning banking and financial stability. Furthermore, the topics covered at the conference contribute to public policy discussions and fortifying the financial system’s resilience for the future. Apart from the Best PhD paper award, the Best Paper Awards for Banking and Financial Stability are also presented during the conference.