This paper studies how the COVID-19 pandemic has affected labor demand using over 100 million posted jobs on one of the largest online platforms in China. Our data reveals that, due to the effects of the pandemic both in China and abroad, the number of newly posted jobs within the first 13 weeks...

This paper studies the evolution of China's production and trade patterns during its integration into the global economy. We document and explain new facts concerning changes in production and exports at the industry and firm levels using microdata and a quantitative Ricardian and...

Since the 1990s, China's real estate market has experienced a dramatic and long-lasting boom across China. This boom has led to substantial concerns in both academic and policy circles that the rising housing prices might have developed into a gigantic housing bubble, which might eventually...

We examine window dressing phenomenon in the public sector by studying the strategic responses of Chinese local officials to the compulsory education promotion program launched by the central government in the 1990s. According to this program, the Chinese counties should receive inspections on...

Recent research has found that the Taylor-rule fundamentals have power to forecast changes in U.S. dollar exchange rates out of sample. Our work casts some doubt on that claim. However, we find strong evidence of a related in-sample anomaly. When we include U.S. inflation in the well-known...