Prof. Guan Gong and Associate Researcher Huabin Wu, two faculty members of IAR, have papers published in Issue 6, Volume 21 of China Economic Quarterly, a leading economic journal in China. The two papers are both interim research results of a NSFC Emergence Management Project titled “Macroeconomic Policy Package and Prevention and Elimination of Systematic Financial Risks: A Simulative Analysis based on a Large Quasi-Structural General Equilibrium Model”.
Prof. Guan Gong’s coauthored paper “Shadow Banking of Non-Financial Firms and Dynamics of Resource Allocation Efficiency” studies the dynamic impacts of the shadow banking of non-financial firms upon the efficiency of resource allocation. Associate Researcher Huabin Wu’s coauthored paper “Financial Repression, SOE Reform and Fiscal-Monetary Policy Coordination” elaborates on the mechanism how monetary and fiscal policies affect the macroeconomy and the optimal policy package when the economy is characterized by strong market power of state-owned enterprises and financial disincentives.