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The Fourth CCER Summer Institute Successfully Held


From June, 21 to 24, 2019, “The Fourth CCER Summer Institute” hosted by China Center for Economic Research (CCER) and National School of Development (NSD) at Peking University was successfully held in Thaiwoo Town, Chongli County, Zhangjiakou City, Hebei Province. This symposium was attended by 90 scholars, with speakers coming from well-known overseas universities such as the London School of Economics and Political Science (LSE), University of Melbourne, University of Colorado, Northwestern University, The Pennsylvania State University, University of Notre Dame, University of Pennsylvania, Duke University, University College London, University of Wisconsin-Madison, Rice University, The Johns Hopkins University, University of Tokyo and Hitotsubashi University, etc., and famous domestic universities such as Peking University, The Chinese University of Hong Kong, Renmin University of China, Central University of Finance and Economics and Nankai University, etc.

On the morning of June 22, Professor Yao Yang, Dean of NSD and Director of CCER, delivered a speech at the opening ceremony of the symposium. On behalf of the organizers, he welcomed the arrival of professors and scholars from all around the world, and expressed his wishes that this symposium could provide a flatform for further discussion and deeper understanding for all.

Divided into three parallel sub-forums, this symposium highlighted the relevant topics in the fields of applied microeconomics and macroeconomics, and the participating scholars introduced their latest research on corporate social responsibility, trade, finance, labor, education, housing market and transportation etc., leading to further discussions.

The four topics talked about in parallel sub-forum A included "corporate social responsibility", "trade", "micro-level empirical research" and "micro theory", the four parts of discussion were hosted by Ma Jingjing, Li lixing, Mahao and Wanghao from NSD respectively. In the forum, Alexander Cherney from Northwestern University shared his study on the impact of corporate social responsibility on decision making of consumers; Tai ji Furusawa from The University of Tokyo gave a report entitled "Relationship Specificity, Market Thickness, and International Trade", Anthea Yan Zhang from Rice University studied how the patent invalidation of enterprises in the technology market affects their subsequent patents acquisition and the realization of patent benefits; Chen Yongmin from University of Colorado, USA, introduced the multi-stage sequential search problem in heterogeneous commodity markets.

Four special sessions consisted the parallel sub-forum B, with the topic of the first two special sessions on finance and the last two on labor economics, and they were hosted by Huang Zhuo, Shen Yan, Zhang Dandan from NSD and Lisa Cameron from University of Melbourne respectively. During the process, Li Jia from Duke University, USA, gave a speech themed "Measuring China's Stock Market Sentiment"; Zhi Da from University of Notre Dame, USA, shared the study entitled "Extrapolative Beliefs in the Cross-Section: What Can We Learn from the Crowds?", looking into how individuals form their expectations for future cross-section stock returns using new data from crowdsourcing platforms for stock ranking; Lisa Cameron from University of Melbourne delivered a speech with the title of "Parental Absence in Childhood and Adult Criminal Behavior: Evidence from Survey and Experimental Data from Prison Inmates in China", concerning the impact of the lack of parental care on adult crime; Shuangxin Wang from The Chinese University of Hong Kong shared a report under the title of "Direct and Spillover Effects of Free Education on Schooling and Migration".

Parallel sub-forum C covered four themes, namely "capital flow and financial policies", "growth and heterogeneity in macroeconomics", "China's economy and housing market", and "macro finance", which were presided by Yu Changhua, Zhao Bo, Yao Yang and Yan Ping from NSD separately. Around the themes, Gianluca Benigno from The London School of Economics and Political Science conducted a keynote speech entitled "Monetary and Financial Policies in Emerging Market Economies"; with the research on the contribution of redistribution policies such as public education, social security and tax transfer etc. to economic growth, Ananth Seshadri from University of Wisconsin-Madison made a speech themed "Can Redistribution Lead to Economic Development?"; Fang Hanming from University of Pennsylvania delivered a theme report under the title of "Property Right and Housing Market"; Nancy Qian from Northwestern University reported the research on the achievements of VAT invoice reform in China.

In addition to the keynote speeches mentioned above, other 40+ speakers who also participated in the symposium had all reported their research findings in relevant sub-forums followed by in-depth and candid exchanges and discussions.

The symposium, which was unanimously praised by participants at home and abroad, came to a successful conclusion at noon on June 24, and all attendees had expressed their earnest expectations for the upcoming one next year.