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大陆成人直播
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宏观经济学workshop：Home Values and Auto Purchases
发布日期：2018-05-15 10:19 来源：大陆成人直播-成人直播中文
时间：2018年5月15日（星期二）13：30－15：00
地点：北大国发院/中国经济研究中心小教室
主讲人：Rong Li（中国人民大学）
题目：
Home Values and Auto Purchases
演讲内容简介：
Along with the significant decline in U.S. home values during the last recession, new vehicle sales fell nearly 40 percent. This paper examines the connection between home values and vehicle sales first using a county-level panel from the episode and finds: (1) A one-dollar fall in home values reduced new vehicle spending by about 0.9 cents; and (2) Falling home values explain approximately 19 percent of the aggregate vehicle spending decline. Next, examining state-level data from 1997-2016, we find: (3) The short-run responses of vehicle consumption to home value changes are larger in the 2005-2011 period relative to other years, but at longer horizons (e.g. 5 years), the responses are similar across the two sub-periods; and (4) The service flow from vehicles, as measured from miles traveled, responds very little to house price shocks. We also detail the sources of the differences between our findings (1) and (2) from existing research.
主讲人简介：
Rong Li is an associate professor at School of Finance, Renmin University of China. He graduated from department of economics, the Ohio State University. His primary research fields are fiscal and monetary policy, macroeconomics and Chinese Economy. His current research investigates the channels through which fiscal policy affects the economy and quantifies the size of fiscal multiplier. Dr. Li has published papers in leading economics journals, including European Economic Review, Journal of Money, Credit, and Banking, and Economics Letters.
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大陆成人直播
-
宏观经济学workshop：Home Values and Auto Purchases
发布日期：2018-05-15 10:19 来源：大陆成人直播-成人直播中文
时间：2018年5月15日（星期二）13：30－15：00
地点：北大国发院/中国经济研究中心小教室
主讲人：Rong Li（中国人民大学）
题目：
Home Values and Auto Purchases
演讲内容简介：
Along with the significant decline in U.S. home values during the last recession, new vehicle sales fell nearly 40 percent. This paper examines the connection between home values and vehicle sales first using a county-level panel from the episode and finds: (1) A one-dollar fall in home values reduced new vehicle spending by about 0.9 cents; and (2) Falling home values explain approximately 19 percent of the aggregate vehicle spending decline. Next, examining state-level data from 1997-2016, we find: (3) The short-run responses of vehicle consumption to home value changes are larger in the 2005-2011 period relative to other years, but at longer horizons (e.g. 5 years), the responses are similar across the two sub-periods; and (4) The service flow from vehicles, as measured from miles traveled, responds very little to house price shocks. We also detail the sources of the differences between our findings (1) and (2) from existing research.
主讲人简介：
Rong Li is an associate professor at School of Finance, Renmin University of China. He graduated from department of economics, the Ohio State University. His primary research fields are fiscal and monetary policy, macroeconomics and Chinese Economy. His current research investigates the channels through which fiscal policy affects the economy and quantifies the size of fiscal multiplier. Dr. Li has published papers in leading economics journals, including European Economic Review, Journal of Money, Credit, and Banking, and Economics Letters.
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