
	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: Cecile 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

Participants

Stefania Albanesi, University of Miami and NBER
Brent Ambrose, Pennsylvania State University
Badar Nadeem Ashraf, Jiangxi University of Finance and Economics
Hang Bai, University of Connecticut
Yan Bai, University of Rochester and NBER
Panle Jia Barwick, University of Wisconsin-Madison and NBER
Martin Berka, Massey University
M. Ishaq Bhatti, La Trobe University
Cen Binfeng, Shanghai University of Finance and Economics
Alexander Bleck, University of British Columbia
Jan Brueckner, University of California at Irvine
Sophie Calder-Wang, University of Pennsylvania
Chun Chang, Shanghai Jiao Tong University
Guodong Chen, University of Michigan
Kaiji Chen, Emory University
Sihao Chen, Fudan University
Yi Chen, ShanghaiTech University
Kwang Soo Cheong, Johns Hopkins University
Hwee Kwan Chow, Singapore Management University
Ying-Foon Chow, Chinese University of Hong Kong
Dragana A. Cvijanovic, Cornell University
Zhi Da, University of Notre Dame
Yunhao Dai, Huazhong University of Science and Technology
Yongheng Deng, Wisconsin School of Business
Bingbing Dong, Central University of Finance and Economics
Jintao Du, City University of Hong Kong
Qianqian Du, Hong Kong Polytechnic University
Fabian Eckert, University of California, San Diego
Karen Eggleston, Stanford University and NBER
Sapnoti K. Eswar, London Business School
Benjamin Faber, University of California, Berkeley and NBER
Yi Fan, National University of Singapore
Ying Fan, University of Michigan and NBER
Hanming Fang, University of Pennsylvania and NBER
Hongyan Fang, Shanghai University of International Business and Economics
Jack Favilukis, University of British Columbia
Kristin Forbes, Massachusetts Institute of Technology and NBER
Amar Gande, Southern Methodist University
Lei Gao, Washington University
Pingyang Gao, University of Hong Kong
Peter M. Garber, Deutsche Bank
Cecile Gaubert, University of California, Berkeley and NBER
Edward L. Glaeser, Harvard University and NBER
Caitlin S. Gorback, University of Texas at Austin
Wei Guo, The World Bank
Joseph Gyourko, University of Pennsylvania and NBER
Bing Han, University of Toronto
Jinji Hao, Victoria University of Wellington
Ai He, University of South Carolina
Jia He, Nankai University
Bo Hu, VU University Amsterdam
Cheng Chun Huan, University of Utah
Hanwei Huang, City University of Hong Kong
Lin Huang, Southwest University of Finance & Economics
Qianqian Huang, City University of Hong Kong
Qiushi Huang, SAIF
Yi Huang, Fudan University
Yuting Huang Ms., National University of Singapore
Robert Hunt, Federal Reserve Bank of Philadelphia
Yannis M. Ioannides, Tufts University
Huang Ji, Chinese University of Hong Kong
Ruixue Jia, University of California, San Diego and NBER
Liangliang Jiang, Hong Kong Polytechnic University
Shenzhe Jiang, Beijing University
Matthew E. Kahn, University of Southern California and NBER
Thierry Kame Babilla, Euro Area Business Cycle Network (EABCN) and University of Yaounde II
Amir Kermani, University of California, Berkeley and NBER
Kala Krishna, Pennsylvania State University and NBER
Chun Kuang, George Washington University
Charles K. Leung, City University of Hong Kong
Antai Li, Huazhong University of Science and Technology
Geng Li, Federal Reserve Board
Jing Li, Singapore Management University
Jun Li, SAIF
Kai Li, Peking University
Lifang Li, Xi'an Jiaotong University
Ming Li, Chinese University of Hong Kong, Shenzhen
Nan Li, International Monetary Fund
Xiaoming Li, University of International Business and Economics
Yao Amber Li, Hong Kong University of Science & Technology
Rose C. Liao, Rutgers University
Regina Lin, Harbin Institute of Technology (Shenzhen)
Laura Liu, Peking University
Peng Liu, Cornell University
Tong Liu, Cornell University and National University of Singapore
Yun Liu, Shanghai Lixin University of Accounting and Finance
Zheng Liu, Federal Reserve Bank of San Francisco
Dong Lou, London School of Economics
Yiqing Lu, New York University Shanghai
Deming Luo, Zhejiang University China
Guannan Luo, City University of Hong Kong
Chang Ma, Fudan University
Fangyuan Ma, Peking University
Xiumin Martin, Washington University in St. Louis
Lin Mi, University of Queensland
Jianjun Miao, Boston University
Cheung Mingyan, Waseda Business School
Randall Morck, University of Alberta and NBER
Geng Niu, Southwestern University of Finance and Economics
Zilong Niu, Southwestern University of Finance and Economics
Xuhui Nick Pan, University of Oklahoma

Cameron Peng, London School of Economics
Qing Peng, Shanghai Jiao Tong University
Qiusha Peng, Fudan University
James M. Poterba, Massachusetts Institute of Technology
Franklin Qian, University of North Carolina
Nancy Qian, Northwestern University and NBER
Wenlan Qian, National University of Singapore
Xincheng Qiu, Arizona State University
Song Quanyun, Southwest University of Finance & Economics
Luis E. Quintero, Johns Hopkins University
Alessandro Rebucci, Johns Hopkins University and NBER
Timothy J. Riddiough, University of Wisconsin
Mark Rosenzweig, Yale University and NBER
Hong Ru, Massachusetts Institute of Technology
Jarjisu Sa-Aadu, University of Iowa
Hui Shan, Goldman Sachs
Jeff Shen, Hong Kong Polytechnic University
Jialu Shen, University of Missouri
Leslie Sheng Shen, Federal Reserve Bank of Boston
Huihong Shi, Capital University of Economics and Business
Wei Shi, Jinan University
Tao Shu, Chinese University of Hong Kong, Shenzhen
Eric R. Sims, University of Notre Dame and NBER
Changcheng Song, University of Florida
Zhaogang Song, Johns Hopkins University
Zheng Michael Song, Chinese University of Hong Kong
Chester S. Spatt, Carnegie Mellon University and NBER
Jun Su, Beijing Technology and Business University
Zhenyu Su, Xi'an Jiaotong-Liverpool University
Lin Sun, Fudan University
Yijian Sun, SAIF
Heiwai Tang, Hong Kong University
Yang Tang, Nanyang Technological University, Singapore
Gary Tian, Macquarie University
Sheridan Titman, University of Texas at Austin and NBER
Linh T. Tô, Boston University
Susan M. Wachter, University of Pennsylvania
Nancy E. Wallace, Haas School of Business, University of California, Berkeley
Baolian Wang, University of Florida
Chongyu Wang, Florida State University
Jiang Wang, Massachusetts Institute of Technology and NBER
Kai Wang, Central University of Finance and Economics
Ping Wang, Washington University in St. Louis and NBER
Qijian Wang, Sun Yat-sen University
Tong Wang, Shandong University
Xi Wang, Peking University
Xin Wang, Chinese University of Hong Kong
Yongqin Wang, Fudan University
Yongxiang Wang, Shanghai Advanced Institute of Finance
Yulong Wang, Syracuse University
Michael Weber, University of Chicago and NBER
Shang-Jin Wei, Columbia University and NBER
Michelle J. White, University of California, San Diego and NBER
Maisy Wong, University of Pennsylvania and NBER
Derek Wu, University of Virginia
Ge Wu, University of Richmond
Howei Wu, CEIBS
Jing Wu, Tsinghua University
Tao L. Wu, Illinois Institute of Technology
Wenbin Wu, Fudan University
Xueping Wu, City University of Hong Kong
Jing Jian Xiao, University of Rhode Island
Jin Xie, Peking University
Nancy R. Xu, Boston College
Tong Xu, Southwestern University of Finance and Economics
Yuan Xu, Beijing Normal University
Chen Xue, University of Cincinnati
Hong Yan, Shanghai Advanced Institute of Finance
Zhipeng Yan, Brandeis University
Ei Yang, Shanghai University of Finance and Economics
Liyan Yang, University of Toronto
Youzhi Yang, Shanghai University of Finance and Economics
Yu (Alan) Yang, Peking University Guanghua School of Management
Vincent Yao, Georgia State University
Yildiray Yildirim, Baruch College
Fan Yu, Claremont McKenna College
Frank Yu, China Europe International Business School
Jiaheng Yu, MIT Sloan School of Management
Tong Yu, University of Cincinnati
Tao Zha, Emory University and NBER
Junfu Zhang, Clark University
Linyi Zhang, Chinese University of Hong Kong
Na Zhang, Fudan University
Nicole Zhang, Shanghai Jiao Tong University
Xiaoqian Zhang, Zhejiang University
Xiaoyu Zhang, Chinese University of Hong Kong
Yifei Zhang, Toulouse School of Economics
Yu Zhang, Peking University
Yuxin Zhang, Imperial College London
Rong Zhao, Haskayne School of Business
Xiaoxue Zhao, Wesleyan University
Kuang Yu Zhen, Sina Corporation
Fang Zheng, Central University of Finance and Economics
Tingyu Zhou, Florida State University
Yifan Zhou, Fudan University
Zhengyi Zhou, Shanghai University of Finance and Economics
Guozhong Zhu, University of Alberta
Qi Zhu, Fudan University
Chao Zi, University of Illinois at Urbana-Champaign
Oren Ziv, Michigan State University