数量经济学研讨会          [20171116]      
 
   
      报告题目：The Persistence of Development Dynamics: the Role of Financial Frictions and Mobility Distortions          报告人：杨诶          报告时间：2017年11月16中午12:20          报告地点：明德主楼729          
         内容简介：Successful economic reforms produce long-lasting transitional dynamics for developing countries. This paper analyzes how financial frictions and mobility distortions generate the persistence of post-reform development dynamics. I build a general equilibrium model with heterogeneous agents, occupation choice and rural-urban migration, and I calibrate it to China. The mobility distortion is an occupation distortion and it restricts a proportion of agents to the low-productive sector. A removal of distortions triggers the transition of the economy. The transitional path from calibration displays slow convergence. It shows persistent increases in output, productivity and urbanization, mimicking the patterns observed in data. Compared with the literature that uses tax distortions, the economy with mobility distortions generates much slower convergence. The model also generates the rural-urban migration, which contributes to the persistence, by providing high-ability workers and potential entrepreneurs after the reform.                     报告人简介：杨诶，上海财经大学金融学院助理教授，波士顿大学经济学博士      
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