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The Value of Big Data in a Pandemic
Kairong Xiao, May 05, 2021This article summarizes a study of the economic and public health effects of the Health Code app in China. By exploiting the staggered implementation of this technology across 322 Chinese cities, this study finds that the Health Code app significantly reduced virus transmission and facilitated economic recovery during the COVID-19 pandemic. A macroeconomic susceptible-infectious-recovered (SIR) model calibrated to the micro-level estimates shows...
Trade Policy Uncertainty and Firm Innovation
Qing Liu, Hong Ma, May 12, 2021This study proposes a novel channel through which trade liberalization may induce innovation through the reduction of trade policy uncertainties (TPU) in destination markets. To verify this link, we utilize the significant reduction of TPU engendered by China's accession to the World Trade Organization (WTO) in 2001 as a quasi-natural experiment. We find that reduction in TPU significantly encourages firms' patent applications and that firms' innovation responses to TPU reduction vary by productivity, ownership, exporting status, and the irreversibility of investment.
Does Spatial Misallocation in China’s Housing and Land Markets Drive Up Housing Prices?
Yongheng Deng, Yang Tang, Ping Wang, Jing Wu, Mar 23, 2022We documented pervasive spatial misallocations in the housing and land markets in China. We find larger cities with more competitive land markets and strict land supply restrictions have fewer subsidies in housing sales, and consequently a higher housing price compared to its frictionless benchmark. Removing frictions brings welfare gain because more individuals live in larger cities.
Credit Constraints and Fraud Victimization: Evidence from a Representative Chinese Household Survey
Nan Gao, Yuanyuan Ma, Lixin Colin Xu, Jun 09, 2021How and why do household credit constraints affect fraud victimization when households face fraud schemes? Using the urban sample of a novel nationally representative data set on fraud victimization and household finance, we find that households facing credit constraints are associated with a higher probability of becoming fraud victims and suffer from higher economic losses from frauds than households...
What You Import Matters for Productivity Growth: Experience from Chinese Manufacturing Firms
Jiawei Mo, Larry D. Qiu, Hongsong Zhang, Xiaoyu Dong, Dec 22, 2021We find that capital import has a substantially larger productivity effect than intermediates import, by generating significant long-term productivity gains through R&D-capital synergy, R&D-inducing, and direct dynamic productivity effects. Our findings highlight the importance of tariff structure in tariff liberalization: the change in tariff structure explains 18% of the productivity gains following China’s WTO accession.
