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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, 2021

We 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.

A Summary of Retail Investors and Momentum

Jun Du, Dashan Huang, Jane Yu Liu, Yushui Shi, Avanidhar Subrahmanyam, Huacheng Zhang, Oct 26, 2022

We 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.

China’s New Goal for Income Distribution: What Does it Mean and are There Tradeoffs?

Martin Ravallion, Shaohua Chen, Mar 16, 2022

China’s political leadership recently committed to expanding the proportion of middle-income groups to create a less polarised, and more ‘olive-shaped’, distribution of wealth. This column considers the potential trade-offs between reducing income polarisation and other goals, including poverty reduction.

A Tale of Tier 3 Cities

Kenneth Rogoff, Yuanchen Yang, Mar 29, 2023

This paper provides new estimates of the housing stock, construction rates, and price developments by city tier in China.

Empowered Young Women: Trade Liberalization and Women’s Family Decisions in China

Difei Ouyang, Weidi Yuan, Yuan Zi, Mar 08, 2023

How 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.