【tangyifei】会议议程| 2021中国宏观经济国际年会

the the third China international conference in macroeconomics

第三届中国宏观经济国际年会

ABOUT THE CONFERENCE

the the third China international conference in macroeconomics(cicm)will be held on June 28-30，2021 in Beijing，China and simultaneous

the meeting is the third annual conference organized joint ly by the China forum of macroeconomic research and collaborating academic institutions

the conference is in English and is composed of 18 regular academic sessions，2 lecture series and 2 keynote speeches . acceptance rate from on

Founding Co-organizers:

清华大学PBC学校FINANCE CHINA Forum of MACROECONOMIC RESEARCH

Co-organizers:

institute of new structural economics at Peking university Tsinghua university PBC school of finance China forum of macroeconomic research

Keynote Speakers:

Ravi bansal，j . b . fuqua professor of finance and economics，duke university fabrizio Zili botti，tun tex professor of internet

Co-Chairs:

定制，Peking university Jianjun Miao，Boston university Hao Zhou，Tsinghua university Xiaodong Zhu，Toronto university

Local Organizing Committee:

沈哲江、培金大学杨王(chair)、培金大学陈赞武、培金大学俊杰夏、培金大学

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Lijun Zhu, Peking University

Program Committee Members:

• Hengjie Ai, University of Minnesota
• Jinhui Bai, Washington State University and Peking University
• Yan Bai, University of Rochester
• Christophe Chamley, Boston University
• Hui Chen, Massachusetts Institute of Technology
• Kaiji Chen, Emory University and Federal Reserve Bank of Atlanta
• Wei Cui, University College London
• Feng Dong, Tsinghua University
• Kevin Huang, Vanderbilt University and Shanghai University of Finance and Economics
• Jiandong Ju, Tsinghua University
• Sagiri Kitao, University of Tokyo
• Erica Xuenan Li, Cheung Kong Graduate School of Business
• Justin Yifu Lin, Peking University
• Laura Xiaolei Liu, Peking University
• Xuewen Liu, The University of Hong Kong
• Zheng Liu, Federal Reserve Bank of San Francisco
• Yulei Luo, The University of Hong Kong
• Jianjun Miao, Boston University
• Alexander Michaelides, Imperial College London
• Toshihiko Mukoyama, Georgetown University
• Jun Nie, Federal Reserve Bank of Kansas City
• Nicolas Petrosky-Nadeau, Federal Reserve Bank of San Francisco
• Vincenzo Quadrini, University of Southern California
• Thomas Sargent, New York University and Peking University
• Liugang Sheng, The Chinese University of Hong Kong
• Kang Shi, The Chinese University of Hong Kong
• Michael Zheng Song, The Chinese University of Hong Kong
• Mark Spiegel, Federal Reserve Bank of San Francisco
• Jian Wang, The Chinese University of Hong Kong, Shenzhen
• Pengfei Wang, Peking University
• Yong Wang, Peking University
• Yi Wen, Federal Reserve Bank of St. Louis
• Daniel Yi Xu, Duke University
• Jenny Juanyi Xu, The Hong Kong University of Science and Technology
• Zhiwei Xu, Shanghai Jiao Tong University
• Liyan Yang, University of Toronto
• Vivian Zhanwei Yue, Emory University and Federal Reserve Bank of Atlanta
• Yuzhe Zhang, Texas A&M University and Peking University
• Jackie Kai Zhao, University of Connecticut
• Hao Zhou, Tsinghua University
• Zhen Zhou, Tsinghua University
• Shenghao Zhu, University of International Business and Economics
• Xiaodong Zhu, University of Toronto

关于会议

第三届中国宏观经济国际年会将于2021年6月28日至6月30日在北京举行（同时在线上举行），由北京大学新结构经济学研究院承办。北京大学新结构经济学研究院、清华大学五道口金融学院以及中国宏观经济研究论坛作为会议的联合主办方共同参与会议的组织工作。

年会由18个学术分会议、2个系列讲座和2个主旨演讲组成，交流语言为英文。本届年会公开提交论文的接受率为11.2%。

创始主办单位：

• 清华大学五道口金融学院
• 中国宏观经济研究论坛

主办单位：

• 北京大学新结构经济学研究院
• 清华大学五道口金融学院
• 中国宏观经济研究论坛

主旨演讲人：

• Ravi Bansal，杜克大学J.B. Fuqua 经济学与金融学讲席教授
• Fabrizio Zilibotti，耶鲁大学Tuntex国际与发展经济学讲席教授

联席组织者：

• 林毅夫，北京大学
• 苗建军，波士顿大学
• 周 皓，清华大学
• 朱晓冬，多伦多大学

地方组委会：

• 江深哲，北京大学
• 王 勇（负责人），北京大学
• 吴春赞，北京大学
• 夏俊杰，北京大学
• 朱礼军，北京大学

论文评审委员会成员：

• 艾恒杰，明尼苏达大学
• 白金辉，华盛顿州立大学、北京大学
• 白 艳，罗彻斯特大学
• Christophe Chamley，波士顿大学
• 陈 晖，麻省理工学院
• 陈凯迹，埃默里大学、美联储亚特兰大分行
• 崔 巍，伦敦大学学院
• 董 丰，清华大学
• 黄晓东，范德比尔特大学
• 鞠建东，清华大学
• Sagiri Kitao，东京大学
• 李学楠，长江商学院
• 林毅夫，北京大学
• 刘晓蕾，北京大学
• 刘学文，香港大学
• 刘 铮，美联储旧金山分行
• 罗雨雷，香港大学
• 苗建军，波士顿大学
• Alexander Michaelides，帝国理工大学
• Toshihiko Mukoyama，乔治城大学
• 聂 军，美联储堪萨斯分行
• Nicolas Petrosky-Nadeau，美联储旧金山分行
• Vincenzo Quadrini，南加州大学
• Thomas Sargent，纽约大学、北京大学
• 盛柳刚，香港中文大学
• 施 康，香港中文大学
• 宋 铮，香港中文大学
• Mark Spiegel，美联储旧金山分行
• 王 健，香港中文大学（深圳）
• 王鹏飞，北京大学
• 王 勇，北京大学
• 文 一，美联储圣路易斯分行
• 徐 熠，杜克大学
• 徐隽翊，香港科技大学
• 许志伟，上海交通大学
• 杨立岩，多伦多大学
• 岳占崴，埃默里大学、美联储亚特兰大分行
• 张玉哲，德州农工大学、北京大学
• 赵 开，康涅狄格大学
• 周 皓，清华大学
• 周 臻，清华大学
• 朱胜豪，对外经济贸易大学
• 朱晓冬，多伦多大学

//Note: The program is indicated in Beijing time, please carefully convert the time to your local time. For example:

PROGRAM SUMMARY

会议日程

PROGRAM DETAILS

Sunday, June 27, 2021, 14:00 - 20:00

Conference Registration - Hotel Lobby, 1/F, The Lakeview Hotel

Monday, June 28, 2021, 07:30 - 08:00

Conference Registration - Daxuetang 4, B1/F, The Lakeview Hotel

Monday, June 28, 2021, 08:00 - 08:25

Welcome Speech - Daxuetang 4, The Lakeview Hotel & Zoom

Moderator: Yong Wang, Academic Deputy Dean and Associate Professor of Economics, Institute of New Structural Economics at Peking University

Speakers: Justin Yifu Lin, Peking University Boya Chair Professor; Dean, Institute of New Structural Economics at Peking University

Jianjun Miao, Professor of Economics, Boston University; President, China Forum of Macroeconomic Research

Monday, June 28, 2021, 08:25 - 08:40

Group Photo

Monday, June 28, 2021, 08:40 - 11:00

Growth, Development and the Chinese Economy - Daxuetang 4, The Lakeview Hotel & Zoom

Session Chair: Zheng (Michael) Song, The Chinese University of Hong Kong

The Unintended Consequence of Eliminating Capital Distortion in China

Kaiji Chen, Emory University

Xuewen Liu, The University of Hong Kong

Zhikun Lu, Emory University

Yong Wang, Peking university

Discussant: Ernest Liu, Princeton University

College Expansion, Trade, and Innovation: Evidence from China

Xiao Ma, University of California, San Diego

Discussant: Jing Hang, Sun Yat-sen University

Growing through Competition: the Reduction of Entry Barriers among Chinese Manufacturing Firms

Helu Jiang, Shanghai University of Finance and Economics

Yu Zheng, Queen Mary University of London

Lijun Zhu, Peking University

Discussant: Tuo Chen, Tsinghua University

An Anatomy of the Patent Quality: China vs. US

Hanming Fang, University of Pennsylvania

Zheng (Michael) Song, The Chinese University of Hong Kong

Hanyi Tao, ShanghaiTech University

Yiran Zhang, The Chinese University of Hong Kong

Discussant: Pengfei Han, Peking University

Monday, June 28, 2021, 08:40 - 11:00

Wealth and Consumption - Daxuetang 2, The Lakeview Hotel & Zoom

Session Chair: Yulei Luo, The University of Hong Kong

Getting Rich in China: An Empirical and Structural Investigation of Wealth Mobility

Vincenzo Quadrini, University of South California

Qi Sun, Luohan Academy

Junjie Xia, Peking University

Ting Zeng, Southwest University of Finance and Economics

Discussant: Markus Poschke, McGill University

Accounting for Wealth Concentration in the US

Baris Kaymak, University of Montreal

David Leung, National Taiwan University

Markus Poschke, McGill University

Discussant: Xiaowen Lei, University of Oxford

Mistakes in Future Consumption, High MPCs Now

Chen Lian, University of California, Berkeley

Discussant: Yu Zhang, Peking University

Income Risks and Optimal Attention-Consumption Allocation

Yulei Luo, The University of Hong Kong

Jun Nie, Federal Reserve Bank-Kansas City

Penghui Yin, Shandong University

Discussant: Junjie Guo, Central University of Finance and Economics

Monday, June 28, 2021, 11:30 - 12:30

Conference Lunch - Greenery Coffee, 1/F, The Lakeview Hotel

Monday, June 28, 2021, 12:30 - 14:00

Break

Monday, June 28, 2021, 14:00 - 15:00

Keynote Speech - Daxuetang 4, The Lakeview Hotel & Zoom

Moderator: Yong Wang, Academic Deputy Dean and Associate Professor of Economics, Institute of New Structural Economics at Peking University

Speaker: Fabrizio Zilibotti, Tuntex Professor of International and Development Economics, Yale University

Speech: From Imitation to Innovation: Where Is All That Chinese R&D Going?

Monday, June 28, 2021, 15:00 - 16:45

Growth and Development - Daxuetang 4, The Lakeview Hotel & Zoom

Session Chair: Yong Wang, Peking University

Firm Dynamics and SOE Transformation During China's Economic Reform

Shijun Gu, Central University of Finance and Economics

Chengcheng Jia, Federal Reserve Bank of Cleveland

Discussant: Helu Jiang, Shanghai University of Finance and Economics

Rule of Law, Economic Structure and Development

Roberto Samaniego, George Washington University

Juliana Yu Sun, Singapore Management University

Discussant: Yang Tang, Nanyang Technological University

Structural Change within the Services Sector, Baumol's Cost Disease, and Cross-Country Productivity Differences

Ali Sen, University of Hamburg

Discussant: Wen Yao, Tsinghua University

Monday, June 28, 2021, 17:00 - 18:45

Migration - Daxuetang 4, The Lakeview Hotel & Zoom

Session Chair: Jiandong Ju, Tsinghua University

Trade, Migration, and Pandemics: the Effect of COVID-19 Containment Policies in the United States

Xiao Chen, University of International Business and Economics

Hanwei Huang, The City University of Hong Kong

Jiandong Ju, Tsinghua University

Ruoyan Sun, University of Alabama at Birmingham

Jialiang Zhang, Tsinghua University

Discussant: Yang Jiao, Fudan University

Rural-Urban Migration, Structural Transformation, and Housing Markets in China

Carlos Garriga, Federal Reserve Bank of St. Louis

Aaron Hedlund, University of Missouri

Yang Tang, Nanyang Technological University

Ping Wang, Washington University in St. Louis

Discussant: Wei You, Peking University

Migration Controls, Inequality, and Access to Educational Opportunities in China

Holger Sieg, University of Pennsylvania

Chamna Yoon, Korea Advanced Institute of Science and Technology

Jipeng Zhang, Southwestern University of Finance and Economics

Discussant: Rongsheng Tang, Shanghai University of Finance and Economics

Monday, June 28, 2021, 18:45 - 19:30

Conference Dinner - Greenery Coffee, 1/F, The Lakeview Hotel

Monday, June 28, 2021, 19:30 - 21:00

Break

Monday, June 28, 2021, 21:00 - 22:45

Computational Methods for Heterogeneous Agent Models - Zoom

Session Chair: Jinhui Bai, Washington State University and Peking University

Automated Solution of Heterogeneous Agent Models

David Childers, Carnegie Mellon University

Discussant: Michael Reiter, Institute for Advanced Studies (Vienna); New York University Abu Dhabi

Global DSGE Models

Dan Cao, Georgetown University

Wenlan Luo, Tsinghua University

Guangyu Nie, Shanghai University of Finance and Economics

Discussant: SeHyoun Ahn, Norges Bank

Pareto Extrapolation: An Analytical Framework for Studying Tail Inequality

Emilien Gouin-Bonenfant, Columbia University

Alexis Akira Toda, University of California at San Diego

Discussant: Shenghao Zhu, University of International Business and Economics

Monday, June 28, 2021, 21:00 - 22:45

Macro Finance I - Zoom

Session Chair: Yi Wen, Federal Reserve Bank of St. Louis

Information Acquisition and the Pre-Announcement Drift

Hengjie Ai, University of Minnesota

Ravi Bansal, Duke University

Leyla Jianyu Han, University of Hong Kong

Discussant: Jun Li, Shanghai Jiao Tong University

Credit Horizons

Nobuhiro Kiyotaki, Princeton University

John Moore, University of Edinburgh

Shengxing Zhang, London School of Economics

Discussant: Sichuang Xu, The Chinese University of Hong Kong, Shenzhen

Contagious Bubbles

Feng Dong, Tsinghua University

Zhen Huo, Yale University

Yi Wen, Federal Reserve Bank of St. Louis

Discussant: Wei Cui, University of College London

Tuesday, June 29, 2021, 08:00 - 09:00

Keynote Speech - Daxuetang 4, The Lakeview Hotel & Zoom

Moderator: Hao Zhou, Associate Dean and Unigroup Chair Professor of Finance, Tsinghua University PBC School of Finance

Speaker: Ravi Bansal, J.B. Fuqua Professor of Finance and Economics, Duke University

Speech: Uncertainty-Induced Reallocations, Innovation, and Growth

Tuesday, June 29, 2021, 09:15 - 11:00

International Macro - Daxuetang 4, The Lakeview Hotel & Zoom

Session Chair: Jian Wang, The Chinese University of Hong Kong, Shenzhen

Inflation and Income Inequality in an Open Economy

Ruiyang Hu, University of Macau

Jian Wang, The Chinese University of Hong Kong, Shenzhen

Yibai Yang, University of Macau

Zhijie Zheng, Beijing Normal University at Zhuhai

Discussant: Xing Guo, Bank of Canada

Sudden Stop with Local Currency Debt

Siming Liu, Shanghai University of Finance and Economics

Chang Ma, Fudan University

Hewei Shen, University of Oklahoma

Discussant: Jian Wang, The Chinese University of Hong Kong, Shenzhen

Faking Trade for Capital Control Evasion: Evidence from Dual Exchange Rate Arbitrage in China

Renliang Liu, University of Guelph

Liugang Sheng, The Chinese University of Hong Kong

Jian Wang, The Chinese University of Hong Kong, Shenzhen

Discussant: Changhua Yu, Peking University

Tuesday, June 29, 2021, 09:15 - 11:00

International Finance and Crises - Daxuetang 2, The Lakeview Hotel & Zoom

Session Chair: Vivian Zhanwei Yue, Emory University and Federal Reserve Bank of Atlanta

Dissecting Mechanisms of Financial Crises: Intermediation and Sentiment

Arvind Krishnamurthy, Stanford University

Wenhao Li, University of Southern California

Discussant: Xiaolin (Sylvia) Xiao, Peking University

The S-curve: Understanding the Dynamics of Worldwide Financial Reforms

Nan Li, International Monetary Fund

Chris Papageorgiou, International Monetary Fund

Tong Xu, Southwestern University of Finance and Economics

Tao Zha, Emory University

Discussant: Jinfan Zhang, The Chinese University of Hong Kong, Shenzhen

International Equity and Debt Flows to Emerging Market Economies: Composition, Crises, and Controls

Chang Ma, Fudan University

Shang-Jin Wei, Columbia University, Fudan University and National Bureau of Economic Research (NBER)

Discussant: Ling Feng, Shanghai University of Finance and Economic

Tuesday, June 29, 2021, 11:30 - 12:30

Conference Lunch - Greenery Coffee, 1/F, The Lakeview Hotel

Tuesday, June 29, 2021, 12:30 - 14:00

Break

Tuesday, June 29, 2021, 14:00 - 15:45

Information in Macroeconomics - Daxuetang 4, The Lakeview Hotel & Zoom

Session Chair: Zhen Zhou, Tsinghua University

A Rational Theory of Limited Attention

Alexandre Kohlhas, Institute for International Economic Studies

Donald Robertson, Cambridge University

Discussant: Jieran Wu, Zhejiang University

Central Bank Balance Sheet Policies Without Rational Expectations

Luigi Iovino, Bocconi University

Dmitriy Sergeyev, Bocconi University

Discussant: Alexandre Kohlhas, Institute for International Economic Studies

Learning, Delay and Coordination

Christophe Chamley, Boston University

Zhen Zhou, Tsinghua University

Discussant: Liang Dai, Shanghai Jiao Tong University

Tuesday, June 29, 2021, 16:00 - 17:45

Asset Pricing and Asset Bubble - Daxuetang 4, The Lakeview Hotel & Zoom

Session Chair: Pengfei Wang, Peking University HSBC School of Finance

China's Housing Bubble, Infrastructure Investment, and Economic Growth

Shenzhe Jiang, Peking University

Jianjun Miao, Boston University

Yuzhe Zhang, Texas A&M University

Discussant: Zhiwei Xu, Shanghai Jiao Tong University

Asset Pricing with Misallocation

Winston Dou, University of Pennsylvania

Yan Ji, The Hong Kong University of Science and Technology

Di Tian, University of Pennsylvania

Pengfei Wang, Peking University

Discussant: Bo Zhao, Peking University

Self-Fulfilling Risk, Land Price and Macroeconomic Fluctuations

Xuewen Liu, The University of Hong Kong

Pengfei Wang, Peking University

Sichuang Xu, The Chinese University of Hong Kong, Shenzhen

Discussant: Yan Ji, The Hong Kong University of Science and Technology

Tuesday, June 29, 2021, 18:00 - 19:00

Conference Dinner - Greenery Coffee, 1/F, The Lakeview Hotel

Tuesday, June 29, 2021, 19:00 - 20:00

Break

Tuesday, June 29, 2021, 20:00 - 21:00

Lecture Series - Zoom

Moderator: Pengfei Wang, Associate Dean and PHBS Chair Professor of Economics, Peking University HSBC School of Finance

Speaker: Jianjun Miao, Professor of Economics, Boston University; President, China Forum of Macroeconomic Research

Speech: Asset Bubbles and The Macroeconomy

Tuesday, June 29, 2021, 21:00 - 22:45

Unconventional Fiscal and Monetary Policy - Zoom

Session Chair: Feng Dong, Tsinghua University

Targeted Reserve Requirements for Macroeconomic Stabilization

Zheng Liu, Federal Reserve Bank of San Francisco

Mark Spiegel, Federal Reserve Bank of San Francisco

Jingyi Zhang, Shanghai University of Finance and Economics

Discussant: Ji Zhang, Tsinghua University

How Does Local Government Financing Affect Bond Market in China: Evidence from Municipal Corporate Bond

Keqi Chen, Tsinghua University

Yi Huang, Graduate Institute, Geneva

Kathy Yuan, London School of Economics and Political Sciences

Hao Zhou, Tsinghua University

Discussant: Claire Yurong Hong, Shanghai Jiao Tong University

Fiscal and Monetary Policy interactions in a Model with Low Interest Rates

Jianjun Miao, Boston University

Dongling Su, Boston University

Discussant: Feng Dong, Tsinghua University

Tuesday, June 29, 2021, 21:00 - 22:45

Macro Finance II - Zoom

Session Chair: Ye Li, The Ohio State University

The SOE Premium and Government Support in China’s Credit Market

Zhe Geng, Shanghai Jiao Tong University

Jun Pan, Shanghai Jiao Tong University

Discussant: Wukuang Cun, Shanghai University of Finance and Economics

State Ownership Structure and Asset Prices: Return Predictability in China

Frederico Belo, INSEAD, National Bureau of Economic Research (NBER), and Center for economic Policy Research (CEPR)

Dapeng Hao, Renmin University of China

Xiaoji Lin, University of Minnesota

Zhigang Qiu, Renmin University of China

Jincheng Tong, University of Toronto

Discussant: Chengcheng Jia, Federal Reserve Bank of Cleveland

Dynamic Banking and the Value of Deposits

Patrick Bolton, Columbia University

Ye Li, The Ohio State University

Neng Wang, Columbia University

Jinqiang Yang, Shanghai University of Finance and Economics

Discussant: Chao Ying, University of Minnesota

Wednesday, June 30, 2021, 08:00 - 09:00

Lecture Series - Daxuetang 4, The Lakeview Hotel & Zoom

Moderator: Yong Wang, Academic Deputy Dean and Associate Professor of Economics, Institute of New Structural Economics at Peking University

Speaker: Xiaodong Zhu, Professor of Economics, University of Toronto

Speech: Migration Barriers in China: Micro Evidence and Macro Effects

Wednesday, June 30, 2021, 09:15 - 11:00

Banking and Monetary Policy: Perspectives from China - Daxuetang 4, The Lakeview Hotel & Zoom

Session Chair: Kaiji Chen, Emory University and Federal Reserve Bank of Atlanta

The Collateral Channel of Monetary Policy: Evidence from China

Hanming Fang, University of Pennsylvania

Yongqin Wang, Fudan University

Xian Wu, Xiamen University

Discussant: Zhuo Chen, Tsinghua University

Bank Risk Taking and Monetary Policy Transmission: Evidence from China

Xiaoming Li, Shanghai Advanced Institute of Finance

Zheng Liu, Federal Reserve Bank of San Francisco

Yuchao Peng, Central University of Finance and Economics

Zhiwei Xu, Shanghai Jiao Tong University

Discussant: Zheng (Michael) Song, Chinese University of Hong Kong

Bank Wholesale Funding, Monetary Transmission and Systemic Risks: Evidence from China

Kaiji Chen, Emory University and Federal Reserve Bank of Atlanta

Yiqing Xiao, Emory University

Tao Zha, Emory University and Federal Reserve Bank of Atlanta

Discussant: Chang Ma, Fudan University

Wednesday, June 30, 2021, 09:15 - 11:00

Networks - Daxuetang 2, The Lakeview Hotel & Zoom

Session Chair: Ernest Liu, Princeton University

Dynamical Structure and Spectral Properties of Input-Output Networks

Ernest Liu, Princeton University

Aleh Tsyvinski, Yale University

Discussant: Wu Zhu, University of Pennsylvania

Dynamic Formation of Knowledge Networks and Innovating Firm

Jie Cai, Shanghai University of Finance and Economics

Can Tian, University of North Carolina

Discussant: Song Ma, Yale University

Decentralized Industrial Policy

Wei Chen, The Chinese University of Hong Kong

Ernest Liu, Princeton University

Zheng (Michael) Song, The Chinese University of Hong Kong

Discussant: Jingting Fan, Pennsylvania State University

Wednesday, June 30, 2021, 11:30 - 12:30

Conference Lunch - Greenery Coffee, 1/F, The Lakeview Hotel

Wednesday, June 30, 2021, 12:30 - 14:00

Break

Wednesday, June 30, 2021, 14:00 - 15:45

Fintech - Daxuetang 4, The Lakeview Hotel & Zoom

Session Chair: Yi Huang, Graduate Institute, Geneva

FinTech as a Financial Liberator

Greg Buchak, Stanford University

Jiayin Hu, Peking University

Shang-Jin Wei, Columbia University, Fudan University, and National Bureau of Economic Research (NBER)

Discussant: Danqing Mei, Cheung Kong Graduate School of Business

Technology Adoption and Leapfrogging: Racing for Mobile Payments

Pengfei Han, Peking University

Zhu Wang, Federal Reserve Bank of Richmond

Discussant: Shumiao Ouyang, Princeton University

Central Bank Digital Currency: A Corporate Finance Perspective

Mei Dong, University of Melbourne

Xiaolin(Sylvia) Xiao, Peking University

Discussant: Yizhou Xiao, The Chinese University of Hong Kong

Wednesday, June 30, 2021, 16:00 - 17:45

Heterogeneity and Monetary Policy Transmission - Daxuetang 4, The Lakeview Hotel & Zoom

Session Chair: Jenny Juanyi Xu, The Hong Kong University of Science and Technology

Rational Inattention, Financial Heterogeneity and Effectiveness of Monetary Policy

Zijian Wang, Bocconi University

Discussant: Jing Zhou, Fudan University

Monetary Policy Transmission with Heterogeneous Banks and Firms: The Case of China

Guofeng Sun, People's Bank of China

Ji Zhang, Tsinghua University

Xiaodong Zhu, University of Toronto

Discussant: Jingyi Zhang, Shanghai University of Finance and Economics

Consumption Heterogeneity and Monetary Policy In Open Economy

Sihao Chen, Fudan University

Michael Devereux, University of British Columbia

Kang Shi, The Chinese University of Hong Kong

Juanyi Xu, The Hong Kong University of Science and Technology

Discussant: Jiao Wang, The University of Melbourne

Wednesday, June 30, 2021, 18:00 - 19:00

Conference Dinner - Greenery Coffee, 1/F, The Lakeview Hotel

Wednesday, June 30, 2021, 19:00 - 21:20

New Structural Economics - Zoom

Session Chair: Justin Yifu Lin, Peking University

Agglomeration Economies, Factor Endowment, and Local Economic Development: Evidence from China’s Early-Stage Industrial Investment

Justin Yifu Lin, Peking University

Xin Wang, Peking University

Haochen Zhang, Peking University

Discussant: Ben Zou, Michigan State University

Endowment Structure and Role of State in Industrialization and Reforms

Justin Yifu Lin, Peking University

Yong Wang, Peking University

Yi Wen, Federal Reserve Bank of St. Louis

Yangfan Xu, Peking University

Discussant: Joseph Kaboski, University of Notre-Dame

Optimal Infrastructure Investment in Developing Countries

Shenzhe Jiang, Peking University

Justin Yifu Lin, Peking University

Ling Wang, Peking University

Discussant: Linyi Cao, Shanghai University of Finance and Economics

A Theory of Primitive Accumulation

Michele Boldrin, Washington University in St Louis

Yong Wang, Peking University

Lijun Zhu, Peking University

Discussant: Jackie Kai Zhao, University of Connecticut

Wednesday, June 30, 2021, 19:00 - 21:20

Firm and Labor Frictions - Zoom

Session Chair: Junjie Xia, Peking University

Occupational Reallocations within and across Firms: Implications for the Labor-Market Polarization

Toshihiko Mukoyama, Georgetown University

Naoki Takayama, Hitotsubashi University

Satoshi Tanaka, University of Queensland

Discussant: Alexandr Kopytov, The University of Hong Kong

Superstar Firms and Frictional Labor Market

Ji-Woong Moon, Shanghai University of Finance and Economics

Discussant: Jeong Ho (John) Kim, Emory University

Constant Pass-Through

Kiminori Matsuyama, Northwestern University

Philip Ushchev, HSE University

Discussant: Margaret Jacobson, Federal Reserve Board

Capital Budgeting, Uncertainty, and Misallocation

Ben Charoenwong, National University of Singapore

Yosuke Kimura, Tokyo Institute of Technology

Alan Kwan, Hong Kong University

Eugene Tan, University of Toronto

Discussant: Zu Yao Hong, University of Maryland College Park

Wednesday, June 30, 2021, 21:20 - 21:30

Best Pape Award - Zoom

Moderator: Yong Wang, Academic Deputy Dean and Associate Professor of Economics, Institute of New Structural Economics at Peking University

Award Presenters: Justin Yifu Lin, Peking University Boya Chair Professor; Dean, Institute of New Structural Economics at Peking University

Hao Zhou, Associate Dean and Unigroup Chair Professor of Finance, Tsinghua University PBC School of Finance

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