主题：Dragon Babies（龙年宝宝）
主讲人：钱文澜，新加坡国立大学商德州扑克大小
副教授
日期：2017年6月8日（周四）
时间：上午10:00-11:30
地点：德州扑克大小
金融德州扑克大小
4号楼101教室
语言：英文
摘要：
Using multiple sources of administrative data
from the multicultural city state of Singapore, we study the life outcomes of
large birth cohorts created by the Chinese superstitious practice of zodiac
birth timing, where parents prefer to give birth in the year of the Dragon.
This practice is followed exclusively by the Chinese majority—on average the
number of births jumps by 8.8% in Dragon years among the Chinese majority, with
no similar patterns detected among non-Chinese minorities. Chinese Dragon
babies earn significantly lower income than other Chinese cohorts after
entering the labor market (by 6.4%), relative to the income difference between
Dragons and non-Dragons within the non-Chinese subpopulation. The adverse labor
market outcome is unlikely to be the result of self-selection; rather it reflects
the aggregate resource implications of substantially larger cohort sizes. We
find a significant negative income effect for the non-Chinese born in Dragon
years as well as other birth cohorts who happen to enter college (and labor
market) at the same time as Chinese Dragons. The negative income effect partly
arises from the rather inelastic labor demand. Despite efforts to increase
public educational resources, Dragon babies have lower admission chances to
local national universities, suggesting limited capacity of such measures to
accommodate the surge in demand for resources associated with larger birth
cohorts.
主讲人简介:
Wenlan
Qian is Associate Professor in the Department of Finance at the NUS Business
School. She is also an affiliated researcher at the Institute of Real Estate
Studies at the National University of Singapore. Wenlan currently serves on the
editorial board of Financial Management and Real Estate Economics, and is a
fellow of the Homer Hoyt Weimer School of Advanced Studies in Real Estate and
Land Economics. She holds a PhD in Business Administration from the Haas School
of Business, University of California, Berkeley.
Wenlan's
main research interests are household finance, real estate, investments and
financial intermediaries. She is the recipient of multiple prestigious external
grants, including NBER Household Finance/Sloan Foundation Research Grant and
Real Estate Research Institute Research Grant. Wenlan's work also won the best
paper awards at leading international conferences in finance and real estate,
such as the Society of Financial Studies Cavalcade conference and the AREUEA
international meeting. Her research appears in or is accepted at top academic
journals such as American Economic
Review, Journal of Financial Economics, Review of Financial Studies, Review of
Economics and Statistics, Management Science, and Review of Finance.
