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Meet the Economists

Photo of Bo Sun

Bo Sun

Principal Economist International Financial Stability Section International Finance
202-452-2217
bo.sun@frb.gov

Education

  • Ph.D., Economics, University of Virginia, 2009
  • M.A., Economics, University of Virginia, 2006
  • B.A., Finance (Mathematics), Peking University, 2004
Current Research Topics
  • Contracting and asset pricing implications of
  • information frictions
  • Principal Economist

    Board of Governors of the Federal Reserve System

    2018 - present
  • Senior Economist, Economist

    Board of Governors of the Federal Reserve System

    2014 - 2017
  • Assistant Professor

    Peking University

    2011 - 2014
  • Economist

    Board of Governors of the Federal Reserve System

    2009 - 2011
  • Husted, Lucas, John Rogers, and Bo Sun (forthcoming). "Monetary Policy Uncertainty," Journal of Monetary Economics.
  • Lin, Tse-Chun, Qi Liu, and Bo Sun (2019). "Contractual Managerial Incentives with Stock Price Feedback," American Economic Review, vol. 109, no. 7, pp. 2446-68.
  • Husted, Lucas, John Rogers, and Bo Sun (2018). "Uncertainty, Currency Excess Returns, and Risk Reversals," Journal of International Money and Finance, vol. 88, pp. 228-241.
  • Liu, Qi, Lei Lu, and Bo Sun (2018). "Incentive Contracting under Ambiguity Aversion," Economic Theory, vol. 66, no. 4, pp. 929-950.
  • Sun, Bo, and Qi Liu (2018). "Managerial Manipulation, Corporate Governance, and Limited Market Participation," Journal of Economic Dynamics and Control, vol. 90, pp. 98-117.
  • Liu, Qi, and Bo Sun (2015). "Managerial Compensation Under Privately-Observed Hedging and Earnings Management," Economics Letters, vol. 137, pp. 1-4.
  • Sun, Bo (2014). "Asset Returns Under Periodic Revelations of Earnings Management," International Economic Review, vol. 55, no. 1, pp. 255-282.
  • Sun, Bo (2014). "Executive Compensation and Earnings Management Under Moral Hazard," Journal of Economic Dynamics and Control, vol. 41, pp. 276-290.
  • Cull, Robert, Wei Li, Bo Sun, and Lixin Colin Xu (2015). "Government Connections and Financial Constraints: Evidence from a Large Representative Sample of Chinese Firms," Journal of Corporate Finance, vol. 32, pp. 271-294.
  • Husted, Lucas, John Rogers, and Bo Sun (2017). "Monetary Policy Uncertainty," International Finance Discussion Papers 1215. Board of Governors of the Federal Reserve System (U.S.).
  • Husted, Lucas, John Rogers, and Bo Sun (2017). "Uncertainty, Currency Excess Returns, and Risk Reversals," International Finance Discussion Papers 1196. Board of Governors of the Federal Reserve System (U.S.).
  • Liu, Qi, Lei Lu, and Bo Sun (2017). "Incentive Contracting Under Ambiguity Aversion," International Finance Discussion Papers 1195. Board of Governors of the Federal Reserve System (U.S.).
  • Husted, Lucas F., John Harold Rogers, and Bo Sun (2016). "Measuring Monetary Policy Uncertainty: The Federal Reserve, January 1985-January 2016," IFDP Notes 2016-04-11. Board of Governors of the Federal Reserve System (U.S.).
  • Datta, Deepa, Juan M. Londono, Bo Sun, Daniel Beltran, Thiago Ferreira, Matteo Iacoviello, Mohammad R. Jahan-Parvar, Canlin Li, Marius Rodriguez, and John Rogers (2017). "Taxonomy of Global Risk, Uncertainty, and Volatility Measures," International Finance Discussion Papers 1216. Board of Governors of the Federal Reserve System (U.S.).
  • Husted, Lucas, John Rogers, and Bo Sun (2016). "Measuring Cross Country Monetary Policy Uncertainty," IFDP Notes 2016-11-23. Board of Governors of the Federal Reserve System (U.S.).
  • Liu, Qi, and Bo Sun (2016). "Managerial Compensation Under Privately-Observed Hedging," International Finance Discussion Papers 1160. Board of Governors of the Federal Reserve System (U.S.).
  • Liu, Qi, and Bo Sun (2016). "Relative Wealth Concerns, Executive Compensation, and Systemic Risk-Taking," International Finance Discussion Papers 1164. Board of Governors of the Federal Reserve System (U.S.).
  • Cull, Robert, Wei Li, Bo Sun, and Lixin Colin Xu (2015). "Government Connections and Financial Constraints: Evidence from a Large Representative Sample of Chinese Firms," International Finance Discussion Papers 1129. Board of Governors of the Federal Reserve System (U.S.).
  • Lin, Tse-Chun, Qi Liu, and Bo Sun (2015). "Contracting with Feedback," International Finance Discussion Papers 1143. Board of Governors of the Federal Reserve System (U.S.).
  • Sun, Bo (2015). "Do Financial Market Frictions Affect Executive Compensation?" IFDP Notes 2015-07-20. Board of Governors of the Federal Reserve System (U.S.).
  • Cull, Robert, Wei Li, Bo Sun, and Lixin Colin Xu (2013). "Government Connections and Financial Constraints: Evidence from a Large Representative Sample of Chinese Firms," Policy Research Working Paper Series 6352. The World Bank.
  • Carey, Mark S., and Bo Sun (2015). "Risk Choices and Compensation Design," International Finance Discussion Papers 1130. Board of Governors of the Federal Reserve System (U.S.).
  • Liu, Qi, Lei Lu, Bo Sun, and Hongjun Yan (2015). "A Model of Anomaly Discovery," International Finance Discussion Papers 1128. Board of Governors of the Federal Reserve System (U.S.).
  • Sun, Bo (2013). "The Optimal Shape of Compensation Contracts with Earnings Management," Applied Economics, vol. 45, no. 19-21, pp. 3102-3109.
  • Chen, Qingqing, Chor-Ching Goh, Bo Sun, and Lixin Colin Xu (2011). "Market Integration in China," Policy Research Working Paper Series 5630. The World Bank.
  • Sun, Bo (2009). "Asset Returns with Earnings Management," International Finance Discussion Papers 988. Board of Governors of the Federal Reserve System (U.S.).
  • Sun, Bo (2009). "Executive Compensation and Earnings Management Under Moral Hazard," International Finance Discussion Papers 985. Board of Governors of the Federal Reserve System (U.S.).
  • Chen, Qingqing, Chor-Ching Goh, Bo Sun, and Lixin Colin Xu (2011). "Market Integration in the People's Republic of China," Asian Development Review, vol. 28, no. 1, pp. 72-93.

  • seminar

    2018

    American University, 2018 IRFMP conference

    Monetary Policy Uncertainty

  • seminar

    2017

    University of Toronto, University of Alberta, Bank of Canada, 2017 CEPR Financial Symposium

    Contractual Managerial Incentives with Stock Price Feedback

  • conference

    2016, 2017

    WFA, CPER, SED

    Contracting with Feedback

  • seminar

    2015

    Carnegie Mellon University, Baruch College, Cornell University, Federal Reserve Board

    Contracting with Feedback

  • conference

    2015

    NBER Summer Institute, UVA-Richmond Fed Research Conference, Junior Theory Conference (Kellogg)

    Contracting with Feedback

  • conference

    2015

    EFA

    A Model of Anomaly Discovery

  • conference

    2013

    LAEF Conference in ”Accounting for Accounting in Economics”

    Regulatory Intensity, Crash Risk, and the Business Cycle

  • seminar

    2013

    Carnegie Mellon University, Federal Reserve Board, Tsinghua PBC School of Finance, Peking University

    Regulatory Intensity, Crash Risk, and the Business Cycle

  • conference

    2011

    American Law and Economics Association Annual Meeting (Columbia Law School), Financial Management Association annual meeting

    Risk Choices and Compensation Design

  • seminar

    2011

    Federal Reserve Board, Peking University, Midwest Theory Conference (Wisconsin-Madison), Royal Economic Society Annual Meeting

    Managerial Manipulation, Stock Prices, and Limited Market Participation

  • conference

    2010

    SED Annual Meeting, Econometric Society World Congress, Midwest Macro Conference, Journal of Accounting Research Annual Conference (U. Chicago)

    Asset Returns Under Earnings Management

  • seminar

    2010

    Georgetown University, Hong Kong University of Science and Technology, University of Tokyo, Chinese University of Hong Kong, University of Hong Kong,

    Asset Returns Under Earnings Management

  • seminar

    2009

    Wharton, Chicago Booth, INSEAD, University of Maryland, Boston University, Cornell University, Carnegie Mellon University

    Asset Returns Under Earnings Management

  • seminar

    2009

    Federal Reserve Board, Federal Reserve Bank of Cleveland, World Bank, Tsinghua University, Peking University

    Asset Returns Under Earnings Management

  • seminar

    2008

    Wharton School of Business, Darden School of Business, Federal Reserve Bank of Richmond, University of Virginia, Federal Reserve Board

    Asset Returns Under Earnings Management

  • conference

    2008

    Midwest Theory Conference (University of Illinois at Urbana-Champaign)

    Asset Returns Under Earnings Management

Conference Organization

  • April 2018 | Federal Reserve Board

    Global Risk, Uncertainty and Volatility

    Co-organizer

  • November 2013 | University of Santa Barbara

    Laboratory for Aggregate Economics and Finance - Accounting for Accounting in Economics

    Co-organizer

Last update: September 14, 2020