Speaker: Prof. Song Zheng, Department of Economics, the Chinese University of Hong Kong
Date: December 24, 2015
Time: 2:30 p.m.-4:00 p.m.
Location: Juxian Lecture Hall, Room B423, Zhixing Building, Central Campus
Sponsor: the School of Economics
Shadow banking in China has grown very rapidly during the past decade. This paper studies the causes and impending consequences. We begin by documenting important differences in the cross-section of Chinese banks to isolate the regulatory triggers for shadow banking. We then build a model that rationalizes the facts and use it to conduct policy experiments. We find that asymmetric competition between banks is both a short-run stabilizer and a long-run risk, with new regulations potentially exacerbating the tipping point.
Prof. Song Zheng completed his Ph.D. from Stockholm University. He is currently a professor of Department of Economics in the Chinese University of Hong Kong and he is Associate Editor of Journal of the European Economic Association. His main research interests focus on macroeconomics, Chinese Economy and political economy. His paper Growing like China was published in American Economic Review and was awarded by Sun Yefang Foundation. He has published in top journals such as Econometrica, Journal of Economic Theory, Journal of Monetary Economics, International Economic Review, American Economic Journal: Macroeconomics.
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