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Currency Carry Trade by Trucks: The Curious Case of China’s Massive Imports from Itself
Xuepeng Liu, Heiwai Tang, Zhi Wang, Shang-Jin Wei, Apr 13, 2022Capital controls are common in many developing countries. With capital controls, the standard financial market transactions needed for currency carry trade are hard to implement. Yet, as long as there is a big difference between domestic and foreign interest rates, the incentive to engage in currency carry trade is present.
The Impact of Health Insurance on the Wellbeing of Older Chinese
Sisi Yang, Katja Hanewald, Aug 12, 2020Using data from the China Health and Retirement Longitudinal Study (CHARLS) in 2011, 2013 and 2015, we analyze whether the universal health insurance system in China increases the life satisfaction of middle-aged and older adults and to what extent the type of health insurance affects their life satisfaction. We find that the life satisfaction of middle-aged and older adults does not depend on having any health insurance...
Unequal School Enrollment Rights and Increased Inequality: The Case of Shanghai
Muyang Zhang, Jie Chen, Jan 03, 2018In Shanghai, housing entitlements with enrollment access to a good public primary school is associated with a 0.1-0.35 percentage point lower annual rental yield. This rental yield gap is the opportunity cost of securing such housing, which is within the affordability range of most middle-income families in Shanghai. This implies that, should there be no credit constraint for homeownership, children from middle-income families should have a higher likelihood of accessing better public education. We find, however, that the enrollment rights between homeowners and renters, together with the credit constraint to own a home, actually lowers the chance of children from middle-income families of attending better public schools relative to those children from families with high initial wealth. This resulting reduced intergeneration mobility exacerbates the social inequality in China.
Misallocation, Selection, and Productivity: A Quantitative Analysis with Panel Data from China
Tasso Adamopoulos, Loren Brandt, Jessica Leight, Diego Restuccia, Jan 05, 2022We examine the distorting effects of China’s land institutions on aggregate agricultural productivity and other outcomes. We argue these distortions affect two key margins: (1) the allocation of resources across farmers (misallocation); and (2) the type of farmers who operate in agriculture (selection).
How Do Workers and Households Adjust to Robots?
Osea Giuntella, Yi Lu, Tianyi Wang, Apr 26, 2023We analyze the effects of exposure to industrial robots on labor markets and household behaviors, exploring longitudinal household data from the China Family Panel Studies.
