Résumé - Zhiwen (Steve) Wang: Cation

Résumé — Zhiwen (Steve) Wang
 +65 9860 5702 (Singapore) |  [email protected]
Education
National University of Singapore - NUS Business School Singapore
Master by Research in Management, President’s Graduate Fellowship Aug. 2015 - Jan. 2018
• Doctoral Economics Modules (GPA 4.63/5): Applied Economics, Labour Economics, Applied Econometrics I, Applied Econo-
metrics II.
National University of Singapore Singapore
M.Sc. in Quantitative Finance, Department of Mathematics Aug. 2013 - Feb. 2015
Xi’an Jiaotong University Xi’an, China

B.Sc. in Economics Aug. 2009 - Jul. 2013
• Economics Modules (GPA 89.29/100, RANK: 1/34): Microeconomics, Macroeconomics, Econometrics, Economic-
Mathematical Modeling, Industrial Economics, Consumer Economics, Economic Law.
• Mathematics Modules (GPA 91.20/100, RANK: 1/34): Advanced Mathematics (II) 1, Advanced Mathematics (II) 2, Advanced
Mathematics (IV) 1, Advanced Mathematics (IV) 2, Statistics, Linear Algebra and Analytic Geometry, Probability and Mathemat-
ical Statistics.
Research papers
Nutrition, Labor Supply, and Productivity: Evidence from Ramadan in Indonesia (with Zihan Hu, accepted
by and presented in conferences (American Society of Health Economists, Western Economic Association
International) and seminars (Cornell U, Peking U), submitted to Review of Economic Studies)
There is vast literature investigating the long-term effects of malnutrition; however, few papers examine the short-term
causal effects of nutrition deficiency on labor supply and productivity. This is primarily due to data limitations and
a shortage of credible exogenous short-term nutrition shocks for workers. We overcome both challenges by using
administrative data from a large retailer in Indonesia to study the nutrition shock induced by fasting during Ramadan
among Muslim workers.
Based on an event study approach comparing Muslim and non-Muslim salespersons, we find a 17.2% decrease in
productivity during the two hours before sunset, the period they experience the most energy-deficient. Productivity
recovers immediately after sunset, when they can eat again. We also find graduate increasing effects of Ramadan on
absence from work among Muslim salespersons (2.6-5.1 percentage points), and it takes more than a month for such
effects to fade away after Ramadan. Muslim salespersons leave work 14 minutes earlier during Ramadan around the
time of the most energy-deficient. We provide a detailed discussion about how the effects of Ramadan are in line with
nutrition mechanism. We further rule out other competing explanations such as demand shocks, family reunion events,
additional religious rituals, sleep deprivation, and holiday effects.
The Causal Effect of Alcohol Consumption on Health, Crime, and Economic Behaviors (with Sumit Agarwal
and Jussi Keppo, almost finished and aim at Nature)
It is the first paper, to our knowledge, that establishes the causal relationship between alcohol consumption and six
common diseases, economic behaviors, and crimes. Most research correlates alcohol intake and disease incidence. Such
results could be biased by confounding factors and serious endogeneity. Studies on the causal effects of alcohol and
economic behaviors, such as schooling and traffic accident, utilized the legal drinking age and implemented a regression
discontinuity design. However, such methodology lacked generality that investigating a particular sub-population group
– teenagers around legal drinking age.
Utilizing a policy shock and applying a difference-in-difference identification strategy, we show in a nationwide
sample that alcohol consumption increased asthma by 3.1%, epilepsy by 2.9%, and decreased coronary heart disease
by 4.4%. We find no causal effect of alcohol consumption on diabetes, rheumatoid arthritis, and psychosis. These
three diseases were believed to correlate with alcohol consumption in current medical studies. We also show causal
relationships between alcohol consumption and employment (-2.3%), voting turnout (-5.4%), and the number of people
finished vocational education (-0.8%). We did not find causal evidence on young women pregnant, suicide, and the
number of people finished higher education. We find that impulsive crimes such as assault, aggravated property damage,
and manslaughter surged significantly, yet premeditated crimes like murder, theft, and fraud remained unchanged after
the policy changes. Our results are robust under various identifications and placebo tests.
The Cost of Sleep Deprivation in the Workplace (with John Ham, Jussi Keppo, and Hongchao Zhao, under
process)
Despite the high prevalence of sleep deprivation and related disorders, the magnitude of its effect on workers’ produc-
tivity is poorly addressed. Current studies on this topic suffer from serious endogenous issues. Utilizing a comprehensive
sales data, we look into salespersons who worked overtime until mid-night resulted from a random stock inspection
implemented by the top management office towards the stores, and apply a difference-in-differences approach.
We first show that our treatment and controls are similar at least in various observable dimensions in the pretreat-
ment period. Then, we test other possible unobservable differences between them which could contaminate our results
and performing various robustness checks. Our preliminary results indicate that the productivity of our treatment who
received less sleeping time decreased by 22.9% the next day. Moreover, this negative impact is more evident among the
female and the elder salespersons.
Academic Employment
Center of Family and Population Research, National University of Singapore Singapore
Full-time Research Assistant Feb. 2018 - Jun. 2019
• Co-authoring with Prof. Jussi Keppo & Prof. John Ham. Propose research idea and conduct research design; perform data
collection, cleaning, and analyses; and work on paper writing in papers: The Causal Effect of Alcohol Consumption on Health,
Crime, and Economic Behaviors and The Cost of Sleep Deprivation in the Workplace.
NUS Business School, National University of Singapore Singapore

Part-time Research Assistant Aug. 2015 - Feb. 2018
• For Prof. Jussi Keppo. Spent over a year assisting in methodology, data analyzing, and paper revising in: Risk Targeting and
Policy Illusions - Evidence from the Announcement of the Volcker Rule, published in Management Science
We find, after the announcement of the Volcker Rule, affected banks reduced their trading assets but did not lower their overall
risk level. To keep risk targets, they raised their trading risk and decreased the hedging of their banking business.
• For Prof. Sumit Agarwal. Overconfidence and Risk-seeking: Evidence from Golf Players’ Real Estate Investment. We find
some evidence that overconfident golf players tend to be more risk-seeking in real estate investment that they have a higher
Loan-to-value ratio and a greater probability of bankruptcy. The effect is more evident among the single and the female.
NUS Business School, National University of Singapore Singapore

Teaching Assistant Jan. 2017 - Mar 2017
• Teach tutorials in module DCS2008 Business Analytics at NUS Business School for sophomores on data analysis, e.g., basic
statistics, hypothesis tests, univariate & multivariate regression, statistical inference, model diagnostics, etc.
Honors & Awards

2016 & 2015 1/14, The only winner, President’s Graduate Fellowship, NUS Business School
Top 3%, Team Leader & Founder , National Third Prize and Provincial First Prize of the Third National
2012
University San Chuang E-Business Competition, Ministry of Education of P.R. China
2012 & 2011 Top 15%, Siyuan Scholarship, XJTU
2011 1/213, The only winner , China Development Bank Financial Scholarship, China Development Bank
Additional Information
Language: English (Fluent, Study & Research in an English-speaking University for Five Years), Mandarin (Native)
IT Skills: Stata (>1000h), R (>250h), Python (>250h), LATEX (> 250h), Matlab (>200h), ArcGIS (>100h), VBA (>100h)
Interests: Reading, Cooking, Running, Swimming

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Résumé — Zhiwen (Steve) Wang

 +65 9860 5702 (Singapore) |  [email protected]

Xi’an Jiaotong University Xi’an, China

NUS Business School, National University of Singapore Singapore

NUS Business School, National University of Singapore Singapore

Honors & Awards

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