Program and Working Group Meetings.

Chinese Economy

Members of the NBER's Chinese Economy Working Group met October 7-9 online. Research Associates Hanming Fang of the University of Pennsylvania, Zhiguo He of the University of Chicago, Shang-Jin Wei of Columbia University, and Wei Xiong of Princeton University organized the meeting. These researchers' papers were presented and discussed:

* Hanming Fang; Jing Wu and Rongjie Zhang, Tsinghua University; and Li-An Zhou, Peking University, "Anticorruption Campaign, Stereotyping, and the Resurgence of the SOEs: Evidence from China's Real Estate Sector"

* Greg Buchak, Stanford University; Jiayin Hu, Peking University; and Shang-Jin Wei, "FinTech as a Financial Liberator"

* Shumin Qiu, East China University of Science and Technology, and Claudia Steinwender and Pierre Azoulay,

Massachusetts Institute of Technology and NBER, "Who Stands on the Shoulders of Chinese (Scientific) Giants? Evidence from Chemistry"

* Simon Alder, Swiss National Bank, and Zheng Michael Song and Zhitao Zhu, Chinese University of Hong Kong, "Unequal Returns to China's Intercity Road Network"

* Shaoda Wang, University of Chicago, and David Y. Yang, Harvard University and NBER, "The Political Economy of Policy Experimentations in China"

* Guilong Cai, Sun Yat-sen University; R. David McLean, Georgetown University; Tianyu Zhang, City University of Hong Kong; and Mengxin Zhao, University of Alberta, "Short Sellers in the Realm of Social Media: Arbitrageurs or Manipulators?"

* Kaiji Chen and Yiqing Xiao, Emory University, and Tao Zha, Emory University and NBER, "Bank Wholesale Funding, Monetary Transmission and Systemic Risk: Evidence from China"

* Pengjie Gao and Peter Kelly, University of Notre Dame; Allen Hu, Yale University; Cameron Peng, London School of Economics; and Ning Zhu, Tsinghua University, "Exploited by Complexity"

* Pengfei Han, Peking University; Wei Jiang, Columbia University and NBER; and Danqing Mei, Cheung Kong Graduate School of Business, "Mapping US-China Technology Decoupling, Innovation, and Firm Performance"

Summaries of these papers are at https://www.nber.org/conferences/chinese-economy-working-group-meeting-fall-2021

Political Economy

Members of the NBER's Political Economy Program met October 14-15 online. Research Associates Katherine Casey of Stanford University, Alessandro Lizzeri of Princeton University, and Pierre Yared of Columbia University organized the meeting. These researchers' papers were presented and discussed:

* Julia Cage, Sciences Po; Nicolas Herve, Institut National de l'Audiovisuel; and Beatrice Mazoyer, CentraleSupelec, "Social Media and Newsroom Production Decisions"

* Leonardo Bursztyn, University of Chicago and NBER; Georgy Egorov, Northwestern University and NBER; Ruben Enikolopov, New Economic School; and Maria Petrova, Universitat Pompeu Fabra, "Social Media and Xenophobia: Theory and Evidence from Russia" (NBER Working Paper 26567)

* Martin Beraja, Massachusetts Institute of Technology and NBER; Andrew Kao, Harvard University; David Y. Yang, Harvard University and NBER; and Noam Yuchtman, London School of Economics, "Al-tocracy: The Symbiosis of Autocrats and Innovators"

* Charles Angelucci, Massachusetts Institute of Technology, and Andrea Prat, Columbia University, "Is Journalistic Truth Dead? Measuring How Informed Voters Are about Political News"

* Jorg L. Spenkuch and Edoardo Teso, Northwestern University; and Guo Xu, University of California, Berkeley and NBER, "Ideology and Performance in Public Organizations" (NBER Working Paper 28673)

* Steven Callander, Dana Foarta, and Takuo Sugaya, Stanford University, "Market Competition and Political Influence: An Integrated Approach"

Summaries of these papers are at https://www.nber.org/conferences/political-economy-program-meeting-fall-2021

Economic Fluctuations and Growth

Members of the NBER's Economic Fluctuations and Growth Program met October 15 online. Research Associates Daron Acemoglu of the Massachusetts Institute of Technology and Stefanie Stantcheva of Harvard University organized the meeting. These researchers' papers were presented and discussed:

* Nicholas Bloom, Stanford University and NBER; Tarek Alexander Hassan, Boston University and NBER; Aakash Kalyani, Boston University; Josh Lerner, Harvard University and NBER; and Ahmed Tahoun, London Business School, "The Diffusion of Disruptive Technologies" (NBER Working Paper 28999)

* Gabriel Chodorow-Reich, Harvard University and NBER; Adam Guren, Boston University and NBER; and Timothy McQuade, University of California, Berkeley, "The 2000s Housing Cycle with 2020 Hindsight: A Neo-Kindlebergerian View" (NBER Working Paper 29140)

* Peter Ganong, Pascal J. Noel, and Joseph S. Vavra, University of Chicago and NBER, and Fiona E. Greig and Daniel M. Sullivan, JPMorgan Chase Institute, "Spending and Job Search Impacts of Expanded Unemployment Benefits: Evidence from Administrative Micro Data"

* Spencer Yongwook Kwon, Harvard University; Yueran Ma, University of Chicago and NBER; and Kaspar Zimmermann, Leibniz Institute for Financial Research SAFE, "100 Years of Rising Corporate Concentration"

* Erik Hurst, University of Chicago and NBER; Yona Rubinstein, London School of Economics; and Kazuatsu

Shimizu, Massachusetts Institute of Technology, "Task Based Discrimination" (NBER Working Paper 29022)

* Maryam Farboodi, Massachusetts Institute of Technology and NBER, and Laura Veldkamp, Columbia University and NBER, "A Model of the Data Economy"

Summaries of these papers are at https://www.nber.org/conferences/efg-research-meeting-fall-2021

Market Design

Members of the NBER's Market Design Working Group met October 21-23 online. Program Directors Michael Ostrovsky of Stanford University and Parag A. Pathak of the Massachusetts Institute of Technology organized the meeting. These researchers' papers were presented and discussed:

* Eric Budish, University of Chicago and NBER; Peter Cramton, University of Cologne; Albert Kyle and David Malec, University of Maryland; and Jeongmin Lee, Washington University in St. Louis, "Flow Trading"

* Nikhil Agarwal, Massachusetts Institute of Technology and NBER; Charles Hodgson, Yale University; and Paulo J. Somaini, Stanford University and NBER, "Choices and Outcomes in Assignment Mechanisms: The Allocation of Deceased Donor Kidneys" (NBER Working Paper 28064)

* Itai Ashlagi and Amin Saberi, Stanford University; Jacob D. Leshno, University of Chicago; and Pengyu Qian, Purdue University, "Price Discovery in Waiting Lists: A Connection to Stochastic Gradient Descent"

* Mohammad Akbarpour, Yeganeh Alimohammadi, and Amin Saberi, Stanford University, and Shengwu Li, Harvard University, "The Value of Excess Supply in Spatial Matching Markets"

* Julien Grenet, Paris School of Economics; YingHua He, Rice University; and Dorothea Kiibler, WZB Berlin Social Science Center, "Decentralizing Centralized Matching Markets: Implications from Early Offers in University Admissions"

* Michael Ostrovsky, Stanford University and NBER, "Choice Screen Auctions"

* Kyle Greenberg, United States Military Academy at West Point; Parag A. Pathak; and Tayfun Sonmez, Boston College, "Mechanism Design Meets Priority Design: Redesigning the US Army's Branching Process" (NBER Working Paper 28911)

* Omer Edhan, University of Manchester; Ravi Jagadeesan, Stanford University; and Elizabeth C. Baldwin, Paul D. Klemperer, and Alexander Teytelboym, University of Oxford, "The Equilibrium Existence Duality: Equilibrium with Indivisibilities and Income Effects"

* Xintong Wang, Harvard University; David Pennock and David M. Rothschild, Microsoft Research; Nikhil Devanur, Amazon; Biaoshuai Tao, Shanghai Jiao Tong University; and Michael Wellman, University of Michigan, "Designing a Combinatorial Financial Options Market"

* Julien Combe, CREST-Ecole polytechnique; Umut M. Dur, North Carolina State University; Olivier Tercieux, Paris School of Economics; Camille Terrier, University of Lausanne; and M. Utku Unver, Boston College, "Mechanism and Priority Design for Distributional Objectives: An Application to Improve the Distribution of Teachers in Schools"

* Paul Milgrom and Mitchell L. Watt, Stanford University, "Linear Pricing Mechanisms without Convexity"

* Francisco Castro, University of California, Los Angeles; Hongyao Ma, Columbia University; Hamid Nazerzadeh,

University of Southern California; and Chiwei Yan, University of Washington, "Randomized FIFO Mechanisms"

Summaries of these papers are at https://www.nber.org/conferences/market-design-working-group-meeting-fall-2021

Development Economics/BREAD

A joint meeting of the NBER's Development Economics Program and the Bureau for Research and Economic Analysis of Development (BREAD) was held October 22 online. Robin Burgess of the London School of Economics, Program Director Benjamin A. Olken, and Research Associates Samuel Bazzi of the University of California, San Diego, Jing Cai of the University of Maryland, Arun G. Chandrasekhar of Stanford University, Chang-Tai Hsieh of the University of Chicago, and Tavneet Suri of the Massachusetts Institute of Technology organized the meeting. These researchers' papers were presented and discussed:

* Martin Beraja, Massachusetts Institute of Technology and...