讲座题目：Housing Shock and Online Consumption

时间：2021年5月6日（周四）12:25– 13:25 博学925

主讲人: 王龙 上海科技大学创业与管理学院助理教授

主讲人简介：

王龙教授的主要研究领域为房地产金融，城市经济学和应用微观经济学，具体的研究课题主要包括城市经济学和房地产的实证研究。他于2018年6月加入上海科技大学创业与管理学院担任助理教授。在此之前，他曾在新加坡国立大学房地产研究院担任研究员。王龙教授的研究成果已发表在Journal of Public Economics，Journal of Urban Economics，Real Estate Economics，和Journal of Real Estate Research。

摘要：

To establish the causal relationship between housing price appreciation and online consumption behavior, this study exploits a unique and comprehensive dataset assembled from October 1, 2016 to December 31, 2018 by the largest e-commerce company in China. In order to overcome the empirical challenges faced by existing literature due to the non-random nature of housing price changes, this study investigates a unique institutional setting in China, namely the announcement of the newest national-level special economic zone, Xiong'an New Area, as an exogenous shock to the housing price. The study focuses on three areas of interest. First, we examine how exogenous and unanticipated wealth shocks impact household online consumption behaviors. Second, we study the dynamic change of online consumption behaviors before and after the housing shock, and determine whether the behavioral responses persist in the long run. Third, we explore the underlying mechanisms through which the housing shock affects consumption behaviors. In particular, we attempt to disentangle the collateral effects from the housing wealth effects.