Yin Germaschewski

Yin Germaschewski

Phone: (603) 862-3369
Office: Economics, Paul College Rm 322, Durham, NH 03824

Yin Germaschewski is an Associate Professor of Economics at the University of New Hampshire. Majority of her work focuses on the analysis of optimal monetary and fiscal policies in emerging market economies. She has done extensive research on business cycle studies in both developed and developing countries. Her current research studies the main driving forces of house price dynamics in emerging markets, and the optimal policy responses to rapidly rising house prices that reduce housing affordability in these countries.

Courses Taught

  • ECON 401: Principles of Economics Macro
  • ECON 401H: Honors/Prin of Economics Macro
  • ECON 645: International Economics
  • ECON 928: Times Series Econometrics
  • ECON 946: Open Economy Macro


  • Ph.D., Economics, Indiana University
  • M.A., Economics, University of New Hampshire
  • M.A., Economics, Indiana University
  • B.A., Economics, Wuhan University

Research Interests

  • International Economics
  • Macroeconometrics
  • Monetary/Fiscal Policy
  • Open Economy Macroeconomics

Selected Publications

  • Germaschewski, Y. (2022). House price volatility in China: Demand versus supply. ECONOMIC INQUIRY. doi:10.1111/ecin.13112

  • Germaschewski, Y., & Wang, S. -L. (2022). Fiscal stabilization in high-debt economies without monetary independence. JOURNAL OF MACROECONOMICS, 72. doi:10.1016/j.jmacro.2022.103398

  • Germaschewski, Y., Horvath, J., & Zhong, J. (2022). Oral interventions in the foreign exchange market: evidence from Australia. EMPIRICAL ECONOMICS, 62(6), 2713-2737. doi:10.1007/s00181-021-02112-5

  • Germaschewski, Y. (2022). House price, credit supply, and government policy in China. Canadian Journal of Economics/Revue canadienne d'économique, 55(2), 971-1026. doi:10.1111/caje.12594

  • Germaschewski, Y., & Wang, S. -L. (2021). Distributional effects of nonresident investors on the housing market and welfare. REVIEW OF INTERNATIONAL ECONOMICS, 29(5), 1300-1326. doi:10.1111/roie.12544

  • Germaschewski, Y., Horvath, J., & Rubini, L. (2021). Property rights, expropriations, and business cycles in China. JOURNAL OF ECONOMIC DYNAMICS & CONTROL, 125. doi:10.1016/j.jedc.2021.104100

  • Germaschewski, Y. (2020). Stabilization policy, infrastructure investment, and welfare in a small open economy. ECONOMIC MODELLING, 84, 322-339. doi:10.1016/j.econmod.2019.04.023

  • Germaschewski, Y. (2016). Getting help from abroad: The macroeconomics of foreign direct investment in infrastructure in low-income countries. CANADIAN JOURNAL OF ECONOMICS-REVUE CANADIENNE D ECONOMIQUE, 49(4), 1502-1535. doi:10.1111/caje.12242

  • Germaschewski, Y. (2013). Reserve financing and government infrastructure investment: An application to China. JOURNAL OF POLICY MODELING, 35(6), 992-1013. doi:10.1016/j.jpolmod.2013.07.001

  • Germaschewski, Y., Horvath, J., & Rubini, L. (2022, May 20). Property Rights and the Volatility of Consumption. In Mid West Macroeconomic Conference. Utah State University.

  • Most Cited Publications