A Bridge on Economic Issues between China and the World
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In-Consumption Social Listening with Moment-to-Moment Unstructured Data
Qiang Zhang, Wenbo Wang, Yuxin Chen, Jan 03, 2019Major video and live streaming platforms in China have recently introduced a live commenting feature that allows viewers to post comments in real time during video content consumption. Building on the rich live comment data, this research proposes a novel approach for in-consumption social listening to extract live consumption experience. The approach is demonstrated in the context of online movie watching...
The Great Chinese Inequality Turnaround
Ravi Kanbur, Yue Wang, Xiaobo Zhang, Jul 26, 2017This paper argues that after a quarter century of sharp and sustained increase, Chinese inequality is now plateauing and even turning using various data sources and inequality perspectives. The evolution of inequality is further examined through decomposition by income sources and subgroups. Some preliminary explanations are provided for these trends in terms of shifts in policy and the structural transformation of the Chinese economy.
Do Interest Rates Play a Major Role in Monetary Policy Transmission in China?
Gunes Kamber, Madhusudan Mohanty, Aug 17, 2018We explore the role of interest rates in monetary policy transmission in China in the context of its multiple instrument setting. In doing so, we construct a new series of monetary policy surprises using information from high frequency Chinese financial market data around major monetary policy announcements. We find that a contractionary monetary policy surprise increases interest rates and significantly reduces inflation and economic activity. Our findings provide further support to recent studies suggesting that monetary policy transmission in China has become increasingly similar to that in advanced economies.
Relocating or Redefined: A New Perspective on Urbanization in China
Li Gan, Qing He, Ruichao Si, Daichun Yi, Mar 18, 2020We study the urbanization process in China during the past decade by deconstructing different sources of new urban residents. We find that around one-third of urban population growth in the past decade has consisted of redefined migrants from communities that have been reclassified from rural to urban, though they do not actually move. We further find evidence that failing to consider the number of redefined migrants and their housing behaviors leads to a high housing vacancy rate in China’s urban areas.
Is China Becoming a Service Economy?
Xilu Chen, Guangyu Pei, Zheng Song, Fabrizio Zilibotti, Oct 12, 2022We document a process of rapid tertiarization of the Chinese economy since 2005. We estimate total factor productivity through different methodologies and find that productivity has increased faster in services than in the manufacturing sector in recent years.
