The appropriate level of financial inclusion: The perspective of financial stability
September 2023
We construct a global financial inclusion index using data from the World Bank, IMF, and V-Lab and propose an inverted U-shaped relationship between financial inclusion and financial stability. The...
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The Impact of tariff increase on export and employment of Chinese firms
September 2023
This paper examines the impact of the tariff increase implemented by the U.S. in 2018 on Chinese firms' export and subsequent employment adjustment. Under the influence of front run shipment and expected...
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Education burden reduction, family education investment, and education equity
September 2023
How to effectively reduce the burden of students has received widespread attention in recent years. A series of burden reduction policies have been issued, yet there exists large dispute over the effectiveness...
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The health and welfare effects of environmental regulation
September 2023
Using the difference-in-differences method, we examine the impact of environmental regulation on individual health, employment, income, and welfare. We find that environmental regulation significantly...
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The effects of the entries by bike-sharing platforms on urban air quality
September 2023
We study the effects of bike-sharing usage on urban air quality in China. Our Difference-in-Differences strategy exploits the staggered entries by two leading bike-sharing companies, ofo and Mobike,...
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Financial technology, macroeconomic uncertainty, and commercial banks’ proactive risk-taking in China
June 2023
In this paper, we collect the annual data of 145 commercial banks in China from 2010 to 2019 and use a panel data fixed-effect model to study how fintech (financial technology) affects the influence...
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Risk perception, online search and consumption distortion
June 2023
Using earthquake as an example, I investigate how risk perception affects household consumption with China Urban Household Survey data and Baidu index dataset. The empirical results show that consumption...
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Covid-19 outbreak, ambiguity aversion, and macroeconomic expectations
June 2023
How will the outbreak of Covid-19 affect people's expectations on the macroeconomy? We conduct an online experiment in China to investigate the relationship between ambiguity aversion, risk aversion,...
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How minimum wage shortens employment terms?
June 2023
The nationwide implementation of the minimum wage system in 1993 was followed by the “Minimum Wage Regulations” in 2004 with an attempt to enhance regulatory stringency of the system. The article constructs...
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Opportunity of higher education and the choice of high schools
June 2023
This research uses CHIP(China Household Income Project) data of 2018 to examine the impact of higher education opportunities on the middle school graduates’ choice between academic and vocational high...
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The returns to computer use in the Chinese labor market
June 2023
With rising wages and increasing maturity of computer technology, computer use in the workplace is becoming increasingly common. Based on data from an urban labor survey, 58 percent of urban workers...
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Effect of export opportunity on the demand for skilled migrants and their next generation's education: Evidence from China
March 2023
This paper examines whether increased export opportunity improved the relative demand for skilled labors in China's migrants, and whether such effects further improved their investments in their next...
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The effectiveness of lending facilities in China —evidence from bank lending
March 2023
This study examines the impact of lending facilities on commercial banks’ lending and its underlying mechanism by employing the difference-in-difference method utilizing Chinese banking data. It is...
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Measuring real estate policy uncertainty in China
March 2023
Referring to the newspaper textual analysis method by Baker et al. (2016), this study constructs a monthly Chinese Real Estate Policy Uncertainty (REPU) index from 2001 to 2018. The index increases...
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Digital transformation of commercial banks in China: Measurement, progress and impact
March 2023
Nowadays, digital transformation has become an urgent strategic task for traditional commercial banks. Due to the lack of measurement of banks’ digital transformation, whether digital transformation...
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Monetary policy shocks and the signaling channel of monetary policy in China
March 2023
This paper identifies exogenous monetary policy shocks based on the high frequency transaction data of China's interest rate swap market, and explores the ‘signaling channel’ of monetary policy by investigating...
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Consumer streets: Microscopic evidence of road density and consumption vitality
March 2023
Increased consumption is a key driving factor for further economic development in China. This study examines the influence of road network density on consumption vitality, using big data and various...
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Vertical integration and corporate value under uncertainty shock: Evidence from the COVID-19 pandemic
December 2022
Using the exogenous shock of the COVID-19 pandemic, we examine whether vertical integration creates value for firms when facing increasing uncertainty. Using cross-sectional data during the outbreak...
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Trade openness and human capital allocation: From a perspective of occupational choice between public sector and private sector
December 2022
This paper investigates the impacts of trade openness on the allocation of human capital between public sector and private sector. Using a matched dataset of the 1% survey of China's population in 2005...
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Education resource reallocation and innovation: Evidence from university mergers in China
December 2022
Based on the university mergers policy in China that began in the 1990s, this paper uses a DID regression model to study the impact of higher education resource reallocation on university R&D. It reveals...
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Labor protection and private firms’ exports
December 2022
Using several micro-datasets and the difference-in-differences (DID) method, we attempt to study the effects of labor protection on private firms’ exports. We find that labor protection has enormous...
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Local judicial system reform and corporate investment: Evidence from unified management of local courts below the province
December 2022
Using the policy of unified management of local courts below the province, we found that the independence of the judiciary can significantly improve the success rate of firms in administrative litigation...
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Ex-ante fairness under constrained school choice: An experimental approach
December 2022
In a college admission mechanism, students are often matched with colleges by using a noisy signal of their true abilities (e.g., their exam scores). The matching outcome thus may be imperfect in terms...
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Digital financial inclusion and household risk sharing: Evidence from China's digital finance revolution
December 2022
This paper examines how digital finance development affects household risk sharing in China. We provide convincing evidence that households that experience idiosyncratic negative shocks on income growth...
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How housing rent affect migrants’ consumption and social integration? ——Evidence from China Migrants Dynamic Survey
September 2022
In this paper, we examine the impact of housing rent increase on migrants' household consumption and social integration. Using the China Migrants Dynamic Survey 2011–2014, we find that rent increase...
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