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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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On foreign-invested enterprises’ exit: Economic development or labor market price regulation?
September 2022
We use the prefecture-level panel data and enterprise-level data of China's manufacturing enterprises from 2001 to 2009 to investigate the effects of economic development and minimum wage policy on...
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Lightening up Africa: The effects of Chinese aid on the economic development in Africa
September 2022
This article studies the effects of Chinese aid on economic development in Africa. We geographically match Chinese aid in Africa to the satellite nightlight and other variables. Using a grid-cell panel...
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Can information and communication technologies boost rural households’ income and narrow the rural income disparity in China?
September 2022
Using panel data from National Rural Fixed Point Survey and a supplementary survey about rural ICT projects, this paper empirically analyzes the impact of ICTs on rural households’ income and income...
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Does lowering housing provident fund contribution rate promote employment?
September 2022
The housing provident fund is an important part of payroll taxes. This paper quantifies its impact on employment. Although the fund helps enterprises with R&D to recruit more employees, it will also...
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Can digitalized tools help stimulate the domestic economy? Evidence from the effects of digital coupons on merchant operation
September 2022
By analyzing high-frequency data of mobile platform transactions in a large Chinese city, this paper explores the effects of digital coupons on catering and retailing businesses. The results show that...
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