A Bridge on Economic Issues between China and the World
Facebook 
Twitter 
Instagram
WeChat 
Email Most Popular
Housing Wealth and Online Consumer Behavior: Evidence from the Xiong’an New Area in China
Hanming Fang, Long Wang, Yang Yang, Nov 16, 2022We provide new evidence on the causal effects of housing wealth on consumer behavior.
What Happens to Rural Labor Supply Following the Birth of a Son or a Daughter?
Shing-Yi Wang, Nov 20, 2019Our research shows that rural Chinese women's labor supply falls for one year following the birth of a daughter before returning to pre-birth levels while the negative impact of a son on women's labor supply is larger and persists for four years. Furthermore, there is a decrease in household cigarette consumption, and an increase in the mother's probability of being in school, her leisure time, and her participation in...
Financial Reporting and Disclosure Practices in China
Hai Lu, Jee-Eun Shin, Mingyue Zhang, Jul 04, 2024This article discussing that Chinese firms tend to emphasize the stability of financial performance in their reports. In contrast to U.S. firms, their financial disclosures are significantly swayed by non-shareholder stakeholders and do not leverage voluntary disclosures to mitigate capital costs.
Interest rates and exchange rates when the money supply goes up
Saleem Bahaj, Ricardo Reis, May 21, 2025The power of monetary policy to affect interest rates and exchange rates depends on the downward slope of the demand function. This column uses the Chinese experiment with parallel currencies to study the impact of sudden increases in money supply. The authors find causal evidence that increases in money supply lead to currency depreciations, and use this to quantify the interest elasticity of reserve demand. The results can be used to understand how the People’s Bank of China maintained the peg between the mainland and parallel currencies.
Do Richer Households Exit Agriculture? Positive Income Shocks in Rural China
Jessica Leight, Jul 18, 2018Rural households in China have experienced a steadily increasing rise in their real income over the last twenty years as economic reforms have revitalized this sector. Analyzing an unusual natural experiment generated by an increase in prices paid for mandatory grain procurement in China post-1993, I seek to provide evidence around how an increase in permanent income affects households’ production portfolio. Evidence suggests that households experiencing positive income shocks substitute away from agricultural production and are more likely to migrate and to invest in non-agricultural production. They also increase their observed levels of borrowing and non-staple consumption.
