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一、报告题目:

Financing Intermediate Goods and Misallocation in China


二、报告人:

王文雅,上海财经大学金融学院


三、报告时间:

2019年4月25日(周四)  上午10:00-11:30


四、报告地点:

知新楼B215


五、报告人简介:

王文雅博士,现任上海财经大学金融学院助理教授,2017年获加拿大西安大略大学经济学博士学位。研究领域为宏观经济学、企业动态、中国经济、发展经济学。论文曾在世界计量经济学年会亚洲会议和北美会议、美国中西部宏观经济学会议(Midwest Macro)、加拿大经济学年会等学术会议上宣讲。


六、 报告摘要:
This paper quantifies the novel role of intermediate goods frictions, i.e. time-to-order and borrowing constraints, in accounting for the documented substantial misallocation in China Industrial Enterprise Survey (CIES) (Hsieh and Klenow, 2009; Brandt, Van Biesebroeck, and Zhang, 2012). The empirical part of this paper documents substantial intermediate goods misallocation and suggestive evidence of time-to-order and borrowing constraint frictions on intermediate goods in China's data. Quantitaive works find that a standard dynamic investment model with intermediate goods frictions can account for 70% of gross output misallocation in China, twice of the magnitude generated in an investment model with adjustment costs and borrowing constraints on capital only.


七、主办单位:

香港12生肖49号码表图

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