Financial Reforms and Consumption Smoothing

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主讲人	Tianxiao Zheng	简介	<p>We study how financial reforms or financial liberalization affect the extent of consumption smooth-ing in a dynamic stochastic general equilibrium model. The empirical literature highlights that financial reforms and development improve consumption smoothing in industrialized economies, but not in emerging economies. Our model emphasizes consumer credit and home production. In accord with the empirical literature, our model predicts that equity market reforms ameliorate consumption smoothing. Our model also predicts that reforms that relax interest and credit controls may deteriorate consumption smoothing in emerging economies where a large share of the population is credit constrained and where home production is particularly important.</p>
时间	2017-11-02(Thursday)16:40-18:00	地点	N302, Econ Building
讲座语言	English	主办单位	WISE&SOE
承办单位		类型	系列讲座
联系人信息		主持人	Hao Jin
专题网站		专题
主讲人简介	<p>Assistant Professor at Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University. She earned her PhD of Economics from University of Colorado-Boulder, her research interests include macroeconomics and international finance.&nbsp;</p> <div>Please see <a href="/Upload/File/2017/10/20171026115810475.pdf">Prof. Zheng's CV</a> for more information.</div>	期数	“WISE-SOE”高级经济学系列讲座2017秋第四讲（总第388讲）

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