Thursday, May 20
Format: Authors will have twenty minutes to present their papers, discussants will have eight minutes for remarks, and there will be seven minutes for general discussion.
8:00 pm
Opening Remarks:
Chun Chang, Professor of Finance and Executive Dean, Shanghai Advanced Institute of Finance (SAIF), Shanghai Jiao Tong University

James Poterba, President of NBER and Mitsui Professor of Economics at Massachusetts Institute of Technology
Session I
Chair: Hong Yan, Professor of Finance and Deputy Dean, Shanghai Advanced Institute of Finance (SAIF), Shanghai Jiao Tong University
8:15 pm

Hukou and Homeownership Premiums: A Study of Chinese Price-to-Rent Ratios

Joseph Gyourko, University of Pennsylvania and NBER
Xiaodan Wang, Tsinghua University
Jing Wu, Tsinghua University
Rongjie Zhang, Tsinghua University

Discussant:
Edward L. Glaeser, Harvard University and NBER
8:50 pm

Aggregate and Distributional Impacts of LTV Policy: Evidence from China

Kaiji Chen, Emory University
Qing Wang, Southwest University of Finance and Economics
Tong Xu, Southwestern University of Finance and Economics
Tao Zha, Emory University and NBER

Discussant:
Nancy Qian, Northwestern University and NBER
9:25 pm

Property Right Uncertainty, Prices, and Speculation: Evidence from China's Housing Market

Hanming Fang, University of Pennsylvania and NBER
Jing Wu, Tsinghua University
Vincent Yao, Georgia State University

Discussant:
Yongxiang Wang, Shanghai Advanced Institute of Finance
10:00 pm
Break
Session II
Chair: James Poterba, President of NBER and Mitsui Professor of Economics at Massachusetts Institute of Technology
10:10 pm

Capital Leakage, House Prices, and Consumer Spending: Quasi-Experimental Evidence from House Purchase Restriction Spillovers (slides)

Yinglu Deng, Tsinghua University
Li Liao, Tsinghua University
Jiaheng Yu, MIT Sloan School of Management
Yu Zhang, Peking University

Discussant:
Jack Favilukis, University of British Columbia
10:45 pm
Keynote Address:
Hui Shan, Chief China Economist, Goldman Sachs Research
slides
11:30 pm
Adjourn
Friday, May 21
Session III
Chair: Hanming Fang, University of Pennsylvania and NBER
8:00 am

Unintended Consequences of Demand-side Housing Policies: Evidence from Household Reallocation of Capital

Wenlan Qian, National University of Singapore
Hong Tu, Nankai University
Jing Wu, Tsinghua University
Weibiao Xu, Nankai University

Discussants:
Laura Liu, Peking University
Maisy Wong, University of Pennsylvania and NBER
8:35 am

China's Housing Bubble, Infrastructure Investment, and Economic Growth

Shenzhe Jiang, Beijing University
Jianjun Miao, Boston University
Yuzhe Zhang, Texas A&M University

Discussant:
Zheng Michael Song, Chinese University of Hong Kong
9:10 am

Housing Prices, Inter-Generational Co-Residence, and “Excess” Savings by the Young: Evidence using Chinese Data

Mark Rosenzweig, Yale University and NBER
Junsen Zhang, Chinese University of Hong Kong

Discussant:
Shang-Jin Wei, Columbia University and NBER
9:45 am
Break
Session IV
Chair: Shang-Jin Wei, Columbia University and NBER
10:00 am

City Characteristics, Land Prices and Volatility

Sheridan Titman, University of Texas at Austin and NBER
Guozhong Zhu, University of Alberta

Discussant:
Timothy J. Riddiough, University of Wisconsin
10:35 am

Spatial Misallocation in Housing and Land Markets: Evidence from China

Yongheng Deng, Wisconsin School of Business
Yang Tang, Nanyang Technological University, Singapore
Ping Wang, Washington University in St Louis and NBER
Jing Wu, Tsinghua University

Discussant:
Cécile Gaubert, University of California, Berkeley and NBER
11:10 am
Closing Remarks:
Jiang Wang, MIT and NBER and SAIF (Chair, Academic Advisory Council)

James Poterba, MIT and NBER
11:30 am
Adjourn