Seminar Schedule, Fall 2020

Seminars are held online through Tencent Meet ID: 903 5233 2020,or Zoom (for seminars with a * sign).

Regularly 16:10-17:40 on Thursday, with a few exceptions.

All times displayed in Beijing time.

For further information on the talks, please check the detailed section. Some parts are with links to the speakers' bio or work.





24 Sept, Thur, 16:40-18:10

Digital Footprints as Collateral for Debt Collection


We examine the role of borrowers' digital footprints in debt collection. Using a large sample of personal loans from a fintech lender in China, we find that the information acquired by the lender through borrower's digital footprints can increase the repayment likelihood on delinquent loans by 18.5%. The effect can be explained by two channels: bonding borrower's obligations with their social networks and locating borrowers' physical addresses. Moreover, the lender is more likely to approve loan applications from borrowers with digital footprints, even though these borrowers have a higher likelihood of delinquency. The use of digital footprints remains legitimate in many instances under stringent privacy protection regulations and fair debt collection practices. Our findings suggest that digital footprints, as a new type of collateral, can ultimately enhance financial inclusion by facilitating the lender's collection of delinquent loans.


29 Oct, Thur, 16:10-17:40





03 Nov, Tue, 16:10-17:40

Environmental Regulation and Inward Foreign Direct Investment: Evidence from the Eleven Five-Year Plan in China


This paper investigates whether environmental regulations affect inward foreign direct investment. The identification uses the reduction target policy for air pollutants during 11th Five Year Plan period implemented by the Chinese government in 2006. Our difference-in-difference-in-differences estimation explores three-dimension variations; specifically, prefecture (i.e., high target prefectures versus low target prefectures), industry (more polluting industries relative to less polluting ones), and year (i.e., before and after 2005). We find that tougher environmental regulations lead to less inward foreign direct investment (FDI) through increasing the probability of exit and reducing the probability of entry of foreign invested enterprises. Mechanism analysis shows that foreign invested enterprises with relatively low productivity demonstrate strong negative response. This allocation of resource improves industry productivity.


05 Nov, Thur, 16:10-17:40

周航 Zhou, Hang


Shanghai University of Finance and Economics

11 Nov, Wed, 16:10-17:40


19 Nov, Thur, 16:10-17:40

International Liberalization and Intranational Deviations from the Law of One Price


Literature usually takes a bilateral perspective when studying the deviations from the Law of One Price (LOP). This paper shows that trade relation with a third party (or region) might be important in affecting the price deviations between two markets. We develop a simple open-economy model showing that international trade liberalization can reduce the volatility of deviations between cities with a country. We find strong supporting evidence using highly disaggregated monthly retail price data of China. The paper demonstrates that a non-bilateral perspective might be needed when studying the deviations from LOP under circumstances such as when the pair of markets experienced large changes in trade with a third country (or region).


26 Nov, Thur, 16:10-17:40





10 Dec, Thur, 16:10-17:40

The Value of Information Disclosure: Evidence from Mask Consumption in China


We study the effect of information provision on avoidance behaviors. The identification is based on a staggered roll-out of air pollution information and a unique dataset of high-frequency mask purchase transactions in China. Using a generalized difference-in-differences approach, we estimate that the provision of air pollution information increases expenditures on PM2.5 respirators by 31.9. The effect, driven by the improved information quality and the adding of PM2.5 information, is enhanced by people's increased attention to pollution avoidance and mainly exists during polluted days. Our results highlight the potential benefits of information provision on inducing effective pollution avoidance and improving health outcomes.

18 Dec, Fri, 16:10-17:40

Incomplete Financial markets, food price, and monetary policy in developing countries


In a small open developing economy model with incomplete financial markets and a subsistence level of food consumption, headline inflation targeting performs better in terms of stabilizing the economy, thus generating welfare gains relative to core inflation targeting. By incorporating the input-output linkages between sectors and endogenous capital accumulation, we reexamine this result and conclude that, compared with headline inflation targeting, core inflation targeting is more successful in stabilizing the economy, thereby improving welfare outcomes. The main reason is that the spillover effect produced through the input-output linkages between sectors, together with endogenous capital accumulation, amplify the depressing effect of the higher interest rate present under headline inflation targeting regime. By contrast, a slight increase in the interest rate under core inflation targeting regime is more helpful in stabilizing the economy.


07 Jan, Thur, 16:10-17:40

Do efficiency improvements result in lower livestock emissions? Evidence from the global livestock sector


Adoption of more efficient production techniques is the major driver behind reducing emissions in the global livestock sector. However, estimated effectiveness may suffer from measurement errors if market responses to such efficiency improvements are not accounted for, which can lead to formulation of less efficient policies. We investigate the presence of rebound effects that explain the factors limiting the potential emissions-reduction effect of efficiency improvements in the global beef production systems during 1990-2017. We develop theoretical, numerical, and econometric frameworks suitable to empirically investigate the relationship between production efficiency, the required heads of cattle, and emissions while controlling for market factors, allowing us to estimate the extent of rebound effects. Our results demonstrate that market factors partially offset the emission-reduction benefits of livestock productivity improvements, indicating that calculations failing to include market factors may overestimate the effect of efficiency improvements. These results have policy implications for climate change adaptation and mitigation strategies: efforts to reduce livestock emissions based on efficiency improvements might be hampered if the effects of mediating factors are not considered. Estimated rebound effects vary between industrialized and developing countries.

© 2020 Jinhe Center for Economic Research, Xi'an Jiaotong University

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