Senior Fellows/Fellows

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Senior Fellows/Fellows

Disclosed Analyst Corporate Site Visits: Audit Adjustments and the Quality of Financial Statements and Analyst Forecasts

Lixin HUANG, Wei LI, Liansheng WU, Bernard YEUNG
In 2012, China’s Shenzhen Stock Exchange (SZSE) mandated that its listed firms fully reveal the content of any corporate site visits on SZSE’s public platform within two trading days after the visits. Shanghai Stock Exchange, China’s other stock exchange, does not impose the stringent disclosu...
Keywords: Corporate site visits, Audit adjustments, spillover effects, the quality of financial statements, the quality of analyst forecasts
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AMPF Papers

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Commissioned Paper

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May 2024

Debt Supercycle versus Secular Stagnation

Kenneth ROGOFF
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AMPF Papers

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Policy Note

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May 2024

Still Too Big to Fail?

Beatrice WEDER DI MAURO
After a decade of reforms aimed at ensuring no bank is too-big-to-fail, the collapse of Credit Suisse served as the first real-life test of this framework. A resolution following the international and Swiss too-big-to-fail framework would have involved recapitalizing Credit Suisse by bailing in all ...
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Annual Conference

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Labour Economics

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May 2024

Differential Fertility and Economic Opportunity: Evidence from China’s One-Child Policy

Yewen YU, Yi FAN, Junjian YI
Using China's one-child policy (OCP) as a quasi-natural experiment, we demonstrate that differential fertility between socioeconomic groups exacerbates intergenerational income inequality. Rural or poorer families, who are less constrained by the OCP than urban or richer ones, tend to have more chil...
Keywords: Child quantity–quality trade-off, Differential fertility, Intergenerational transmission of inequality, One-child policy
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Annual Conference

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Labour Economics

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May 2024

The Dual Local Markets: Family, Jobs, and the Spatial Distribution of Skills

Jingting FAN, Ben ZOU
We study how the interactions between the local labor market and the local marriage market determine the spatial distribution of economic activities. We develop the first spatial equilibrium model with endogenous marriage formation. Calibrating the model to U.S. cities, we find that despite strong p...
Keywords: quantitative spatial models, spatial distribution of economic activities, local marriage market
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