Senior Fellows/Fellows

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Senior Fellows/Fellows, Pandemic

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May 2020

Ten Keys in Beating Back Cov-19 and the Associated Economic Pandemic

Shang-Jin WEI
In a Project Syndicate column that I wrote on January 27, 2020, I predicted a turning point in the spread of the novel coronavirus in China by the second or third week of February and the end of the epidemic by early May. That projection is based on a combination of the experience in ending the SARS...
Keywords: COVID-19, Pandemic, Key points
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Commentaries

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Senior Fellows/Fellows, 2020, Pandemic

Ten Keys in Beating Back Cov-19 and the Associated Economic Pandemic

Shang-Jin WEI
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Senior Fellows/Fellows

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Senior Fellows/Fellows

Technological Links and Predictable Returns

Charles M. C. LEE, Stephen TENG Sun, Rongfei WANG, Ran ZHANG
This paper finds evidence of return predictability across technology-linked firms. Employing a classic measure of technological closeness between firms, we show that the returns of technology-linked firms have strong predictive power for focal firms’ returns.  A long-short strategy based on this ...
Keywords: Technology momentum, Stock Returns, return predictability, patents, technological closeness, limited attention, market efficiency
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Annual Conference

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International Macroeconomics, Money & Banking, Senior Fellows/Fellows

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May 2018

TechFin at Ant Financial: Credit Market Completion and its Growth Effect

Yi HUANG, Harald HAU, Hongzhe SHAN, Zixia SHENG
Ant Financial provides automated credit lines to more than a million firms trading on Alibaba’s Taobao e-commerce platform. Monthly credit records show how TechFin mitigates local credit supply frictions in China’s segmented credit market and extends the “frontier” of credit availability to ...
Keywords: TechFin, Credit Constraints, micro credit, Entrepreneurship
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Senior Fellows/Fellows

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Senior Fellows/Fellows, Pandemic

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May 2020

Taxing the rich to finance redistribution - Evidence from a permanent tax increase in Singapore

Sumit AGARWAL, Wenlan QIAN, Bernard YEUNG, Huanhuan ZHENG
Based on a representative sample of consumer financial transaction data, this paper studies the consumption and savings response to a 2015 permanent increase in the marginal income tax of the high-income taxpayers. Using difference-in-differences regressions, controlling for individual and time fixe...
Keywords: income tax, Consumption, savings, redistributive policy, Fiscal Policy
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