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A Tale of Tier 3 Cities
Kenneth Rogoff, Yuanchen Yang, Mar 29, 2023This paper provides new estimates of the housing stock, construction rates, and price developments by city tier in China.
“I Still Haven’t Found What I’m Looking For”: Evidence of Directed Search from a Field Experiment
Haoran He, David Neumark, Qian Weng, Jun 16, 2021We explore the impact of wage offers on job applications, testing implications of the directed search model and trying to distinguish it from random search. We use a field experiment conducted on an online Chinese job board, with real jobs for which we randomly varied the wage offers across three ranges. We find that higher wage offers raise application rates overall, which is consistent with directed search...
Boosting Pension Enrollment and Household Consumption by Example: A field Experiment on Information Provision
Chong-En Bai, Wei Chi, Tracy Xiao Liu, Chao Tang, Jian Xu, Aug 18, 2021We conduct a large-scale field experiment in the Guangdong province of China to examine the effect of informing individuals about government pension programs on their pension enrollment decisions and household consumption. Our experimental findings show the effectiveness of combining concrete and personalized information in designing informational material as well as the importance of targeting the most responsive population during information delivery.
Empowered Young Women: Trade Liberalization and Women’s Family Decisions in China
Difei Ouyang, Weidi Yuan, Yuan Zi, Mar 08, 2023How do women’s marriage and fertility decisions respond to trade liberalization? This column finds that Chinese prefectures more exposed to the US granting of permanent normal trade relations to China have experienced a relative increase in the fraction of unmarried young women and young women without children.
A Summary of Retail Investors and Momentum
Jun Du, Dashan Huang, Jane Yu Liu, Yushui Shi, Avanidhar Subrahmanyam, Huacheng Zhang, Oct 26, 2022We explore the link between momentum and retail investing via an identification strategy in China, where retail investors dominate. We propose that due to a round lot restriction, small retail investors are less likely to hold and trade stocks with high nominal prices, and find supporting evidence.
