A Bridge on Economic Issues between China and the World
Facebook 
Twitter 
Instagram
WeChat 
Email Most Popular
Is the Wife A Risk Mitigator? Evidence from Family Firms in China
Yue Pan, Jinli Xiao, Vincent W. Yao, Jian Zhang, Jun 06, 2018Firm-level decisions are largely made by corporate executives whose preferences and attitudes can be shaped by historical traits and what is happening inside their households. We investigate how the involvement of a founder’s wife through marital ownership influences the family firm’s level of risk-taking and explore the underlying mechanisms.
Does China’s Place-Based Land Policy Lead to Spatial Misallocation?
Min Fang, Libin Han, Zibin Huang, Ming Lu, Li Zhang, Nov 17, 2021After 2003, the Chinese central government implemented an inland-favoring land supply policy that distributed more construction land quotas to underdeveloped non-eastern regions. We investigate the effect of the policy and find that it drastically increased land and housing prices in more-developed eastern regions, which consequently created substantial spatial misallocation of land and labor. The policy seems to reduce regional output gaps; however, it hurt...
How Did the US-China Trade War Affect American Communities?
Michael E. Waugh, Apr 22, 2020The US-China trade war—the unprecedented tit-for-tat increase in tariffs by the US and China—provided a unique laboratory to study and understand how changes in trade policy can redistribute the gains from trade. I argue that the trade war induced concentrated losses in consumption and employment for American communities most exposed to Chinese retaliatory tariffs.
Reluctant Entrepreneurs: Evidence from China’s SOE Reform
Hanming Fang, Ming Li, Zenan Wu, Yapei Zhang, Oct 09, 2023In this column, we examine how the presence of state-owned enterprises (SOE) affects the private sector by influencing the allocation of skills across SOEs, private sector waged employment and entrepreneurship.
Does Good Luck Make People Overconfident? Evidence from a Natural Experiment in China
Huasheng Gao, Donghui Shi, Bin Zhao, Aug 01, 2018We find that retail investors who win an allotment for an IPO subscription subsequently become more overconfident relative to retail investors who do not have an allotment. The former group subsequently trades more frequently and loses more money. Overall, our evidence indicates that the experience of good luck makes people more overconfident about their prospects.
