Research
Working Papers
➤ Consumer Heterogeneity and the Stimulus Effect of Digital Coupons, with Ying Chen, Jiaming Mao, and Jingyi Zhou.
Abstract: This paper studies the stimulus effect of a large scale digital coupon program implemented in Beijing during the Covid-19 pandemic.
Our analysis based on quantile regression uncovers significant variation in responses among those who obtained digital coupons.
Using the causal forest approach, we estimate the high-dimensional heterogeneity in consumption responses and identify the key design features that drive spending.
Finally, we examine the spatial distribution of the program's stimulus effects and conduct counterfactual analyses to assess the outcomes of alternative programs.
Through these empirical investigations, our research sheds light on the dynamics of the digital coupon program and provides valuable insights for policymakers seeking to optimize economic stimulus measures.
Work-in-Progress
➤ Balancing the Power of Coal-Fired Power Plants: Growth versus Sustainability, with Ying Chen and Shihe Fu.
Abstract: In emerging market countries, power shortage is a major obstacle to economic progress.
Coal-fired power plants are the primary power source due to their affordability and stable power supply in these regions.
However, these plants also contribute to severe air pollution and pose a threat to public health.
This paper utilizes a Rosen-Roback style spatial framework and an instrumental variable approach to examine the impact and underlying mechanisms of coal-fired power plants on local labor markets.
Our findings indicate that these plants enhance local firm productivity, attracting an inflow of population.
However, they also worsen air pollution, leading to an outflow of population.
Notably, the inflow of population on average exceeds the outflow at the granular county level.
This study highlights the trade-offs faced by emerging economies as they strive to balance the need for a stable electricity supply with concerns about environmental hazards.