State Misallocation and Housing Prices: Theory and Evidence from China
By Shing-Yi Wang*
This paper examines the equilibrium price effects of the privatization
of housing assets that were previously owned and allocated by the
state. I develop a theoretical framework that shows that privatization
can have ambiguous effects on prices in the private market, and that
the degree of misallocation of the assets prior to privatization determines
the subsequent price effects. I test the predictions of the mode
using a large-scale housing reform in China. The results suggest that
the removal of price distortions allowed households to increase their
consumption of housing and led to an increase in equilibrium housing
prices.

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作者的一些介绍（应会员要求加入这些信息。其实没啥可比性，仅供参考。）：
Assistant Professor, Department of Economics, New York University, September 2008 - present.

Ph.D., Economics, Yale University, December 2008
Dissertation Title: Credit Constraints, Job Mobility and Housing Markets in China
Committee: Mark Rosenzweig, Christopher Udry, Joseph Altonji, Hanming Fang

M.Phil., Economics, Yale University, May 2006
M.A., Economics, Yale University, May 2004

B.A., Economics and Chinese Studies, Wellesley College (magna cum laude), May 2001


Publications

"State Misallocation and Housing Prices: Theory and Evidence from China," American Economic Review, forthcoming.

"Credit Constraints, Job Mobility and Entrepreneurship: Evidence from a Property Reform in China," Review of Economics and Statistics, forthcoming.

"High Frequency Response of Exchange Rates and Interest Rates to Macroeconomic Announcements," Journal of Monetary Economics (2007), Vol 54(4): 1051-1068. (with Jon Faust, John Rogers and Jonathan Wright)

"IT Investment and Hicks Composite-Good Theorem: The U.S. Experience," Journal of Economic and Social Measurement (2006), Vol. 31(1), 33-46. (with Jaime Marquez)

"Revisiting the Border: An Assessment of the Law of One Price Using Very Disaggregated Consumer Price Data," Exchange Rates, Capital Flows and Policy. Editors Rebecca Driver, Peter Sinclair and Christoph Thoenissen. London: Routledge (2005): 187-203. (with Charles Engel and John Rogers)

Working Papers

"Statistical Discrimination, Productivity and the Height of Immigrants," 2011

        BREAD Working Paper #289, DRI Working Paper #71

      

"Marriage Networks, Nepotism and Labor Market Outcomes in China," 2011

        BREAD Working Paper #302, DRI Working Paper #74

"Property Rights and Intra-Household Bargaining," 2011