We use daily transaction data in 214 cities to study the impact of COVID-19 on consumption after China's outbreak in late January 2020. Based on difference-in-differences estimation, daily offline consumption—via UnionPay card and QR scanner transactions—fell by 32%, or 18.57 million RMB per...

We empirically investigate how households reallocate their funds in response to an austere housing-market cooling intervention—the Housing Purchase Restriction (HPR) policy in China—that depresses housing demand. Based on a proprietary dataset on individual stock accounts from a large stock...

We study how COVID-19 affected the prevalence, expectations, and attitudes toward remote work using specially designed surveys. The incidence of remote work remains higher than pre-pandemic levels and both men and women expect this to persist post-pandemic. Workers also report increased...

We examine the differential effects of automation on the labor market and educational outcomes of women relative to men over the past four decades. Although women were disproportionately employed in occupations with a high risk of automation in 1980, they were more likely to shift to high-skill,...

We study how COVID-19 affected the prevalence, expectations, and attitudes toward remote work using specially designed surveys. The incidence of remote work remains higher than pre-pandemic levels and both men and women expect this to persist post-pandemic. Workers also report increased...

We evaluate the effects of the 2009 Home Affordable Modification Program (HAMP) that provided intermediaries with sizeable financial incentives to renegotiate mortgages. HAMP increased intensity of renegotiations and prevented substantial number of foreclosures but reached just one-third of its...