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Cathy Zhang

Cathy Zhang

Associate Professor of Economics


Ph.D., Economics, University of California, Irvine
M.A., Economics, University of California, Irvine (2010)
B.A., Economics, University of California, Berkeley (2008)


Professor Zhang joined the Krannert faculty as an Assistant Professor in 2013 after receiving a Ph.D. and M.A. in Economics from the University of California, Irvine. Her research interests are in macroeconomics, monetary economics, international economcis, and search theory. Professor Zhang's current work examines the emergence of an international currency and the role of monetary policy on currency competition,  the adoption of new forms of electronic payments such as credit cards and its impact on monetary transactions, and an experimental study on competing means of payment. 


Journal Articles

  • Gomis-Porqueras, Pedro and Cathy Zhang (2019). Optimal Monetary and Fiscal Policy in a Currency Union with Frictional Goods Markets. Macroeconomic Dynamics, | Download |
  • Guillaume Rocheteau, Randall Wright, and Cathy Zhang (2018). Corporate Finance and Monetary Policy. American Economic Review, | Download |
  • Janet Hua Jiang and Cathy Zhang (2018). Competing Currencies in the Laboratory. Journal of Economic Behavior and Organization,
  • Tai-Wei Hu and Cathy Zhang (2017). Responding to the Inflation Tax. Macroeconomic Dynamics, forthcoming. | Download |
  • Sebastien Lotz and Cathy Zhang. (2016). Money and Credit as Means of Payment: A New Monetarist Approach. Journal of Economic Theory, 164, 68-100. | Related Website | Download |
  • Cathy Zhang (2014). An Information-Based Theory of International Currency. Journal of International Economics, vol. 93 (2), 286-301. | Related Website | Download |
  • Gary Richardon and Cathy Zhang (2013). A Review of Barry Eichengreen's Exorbitant Privilege: the Rise and Fall of the Dollar and the Future of the International Monetary System. Economia, vol. 2 337-344.

Working Papers

  • Guillaume Rocheteau, Russell Tsz-Nga Wong, and Cathy Zhang (2017). Lending Relationships and Optimal Monetary Policy. | Related Website |
  • Pedro Gomis-Porqueras and Cathy Zhang (2017). Optimal Monetary and Fiscal Policy with Migration in a Currency Union.
  • Faculty promotions at Purdue approved by board

    Purdue University’s Board of Trustees on Friday (April 12) approved the following faculty promotions within the Krannert School of Management effective with the 2019-20 academic year: Timothy N. Bond and Cathy M. Zhang; associate professor of economics; Sergey Chernenko and Thanh T. Nguyen; associate professor of management; Roy M. Dejoie, clinical associate professor of management; Troy D. Janes, clinical professor of management. Congratulations to all.

    Full story: Faculty promotions at Purdue approved by board

Phone: 62048
Office: RAWL 4026

Quick links

Personal website

Area(s) of Expertise

monetary economics, search theory, macroeconomics, international economics