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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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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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 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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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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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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The effect of state capital injection on private firms’ performance: Evidence from Chinese industrial firms
June 2022
Based on Chinese industrial firms’ data, this study found that state capital injection weakened the technological progress and management efficiency of private firms, which led to a reduction in enterprises’...
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Stabilizing economic growth: Growth target and government expenditure since World War II
June 2022
This paper investigates how the government stabilizes economic growth from the perspective of government expenditure. We contribute a method to identify the government expenditure aimed at stabilizing...
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Aid and conflict: Evidence from Chinese aid
June 2022
Using data from AidData and the conflict report from Uppsala Conflict Data Program (UCDP) from 2000 to 2014, we find that China's other official flows (OOF) aid can significantly reduce the frequency...
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Trade shock, refugee, and the rise of right-wing populism: Evidence from European Parliament elections
June 2022
Recent years have witnessed the rising support for right-wing populism in European politics. We rely on the outcomes of the 2014 European Parliament elections to empirically examine the economic and...
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Targeting more effective industrial policies: Evidence from massive media data on R&D manipulation
June 2022
R&D manipulation prevails in firms' application for high-tech enterprise certification. This paper provides evidence on how media coverage significantly inhibits firms' R&D manipulation behaviour by...
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Financial repression, SOE reform and fiscal-monetary policy coordination
June 2022
We build a dynamic stochastic general equilibrium (DSGE) model with financial repression and conduct estimation and simulation with it using aggregate data. We discuss the interaction and optimal combination...
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Natural calamity and cultural formation: A study on Yellow River flooding region
March 2022
Traditional culture is usually regarded as the response to environmental change. In this paper, we tried to investigate the impact of natural calamity on the cultural formation by a case study of Yellow...
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Does corporate donation lead to more tax aggressiveness?
March 2022
With regard to the supply of public goods, existing literature mainly focuses on the crowding out effect of public provision of public goods on private provision, while the adverse effect has been largely...
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How transportation infrastructure affects firm Productivity?Evidence from China
March 2022
The national trunk highway system (NTHS), consisting of five vertical and seven horizontal national trunk highways, is taken as a natural experiment to study the impact of transportation infrastructure...
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