A Bridge on Economic Issues between China and the World
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“To Go Electric or to Burn Coal? A Randomized Field Experiment of Informational Nudges”
Hanming Fang, King King Li, Peiyao Shen, Feb 07, 2024We conducted a randomized field experiment of informational nudges in northern China to investigate the potential obstacles that may hinder households from adopting cleaner heating, and evaluate the effectiveness of simple SMS nudges in encouraging the transition to electric heating.
Early Childhood Exposure to Health Insurance and Adolescent Outcomes: Evidence from Rural China
Wei Huang, Hong Liu, Jul 19, 2023We examine the impact of early-life exposure to public health insurance, the New Cooperative Medical Scheme (NCMS), on outcomes in adolescence in rural China.
Internationalizing Like China
Chris Clayton, Amanda Dos Santos, Matteo Maggiori, Jesse Schreger, Feb 08, 2023China’s strategy for internationalizing the renminbi involves controlling the access of foreign investors to the domestic bond market.
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.
Building Tall, Falling Short: An Empirical Assessment of Chinese Skyscrapers
Ziyang Chen, Ting Chen, Yatang Lin, Jin Wang, Jun 04, 2025Amid debates around state-led urbanization in developing countries, we analyze the causes and consequences of China’s skyscraper boom. We find that local governments often subsidize these projects through discounted land prices, motivated by political incentives. However, we find that such subsidies offer minimal long-term benefits, largely due to a mismatch with local conditions.
