Lessons from the Baby Bonus in South Korea: Increased Births and Restored Natural Sex Ratio
Wookun Kim, Jan 20, 2021
I study the causal effects of South Korea’s baby bonus on fertility by exploiting temporal and spatial variation in pro-natalist cash transfers provided to families with newborn babies. Based on registry records spanning the universe of births from 2000 to 2015, I find that the baby bonus increased completed fertility: in the absence of the policy, the total fertility rate in 2015 would have been lower by 3%, which is equivalent to 450,000 fewer babies born...
Impacts of Housing Policy: China’s Experiment
Kaiji Chen, Qing Wang, Tong Xu, Tao Zha, Jan 13, 2021
China’s unprecedented and unexpected loosening of loan-to-value ratio (LTV) policy during 2014Q4–2016Q3 provides an ideal case to study the role of housing policy in housing booms and busts and its impacts on consumption and debt burdens among households. Evidence from three unique micro datasets shows that such a policy change disproportionately increased the share of mortgages to middle-aged and high-income homeowners in the total amount of newly issued mortgages and at the same time reduced their consumption growth...
VoxChina Covid-19 Forum (Second Edition): China’s Post-Lockdown Economic Recovery
VoxChina, Apr 18, 2020
The lockdowns induced by Covid-19 have led to unprecedented challenges to economies across the globe. The second edition of the VoxChina Covid-19 Forum focuses on China’s post-lockdown economic recovery, with three presentations that are based on data analysis of small businesses, consumption, e-commerce, and beyond, each for 15 minutes. There will be 30 minutes of Q&As.