8:00 am: Pick up at the hotel lobby
8:20 am - 8:30 am: registration
8:30 am: Opening Remarks

Chair: Xue Qiao, SEM, Tsinghua University

1. Intangibles, Inequality and Stagnation, 8:30 am - 9:10 am
   Nobuhiro Kiyotaki, Princeton University
   Shengxing Zhang, London School of Economics

   Discussant: 9:25 am - 9:35 am
   Toan Phan, Federal Reserve Bank of Richmond

2. The Elasticity of Intergenerational Substitution, Parental Altruism, and Fertility Choice, 9:35 am - 10:20 am
   Juan Cordoba, Iowa State University
   Marla Ripoll, University of Pittsburgh

   Discussant: 10:20 am - 10:30 am
   Wenlan Luo, Tsinghua University

   Coffee Break: 10:30 am - 10:50 am

3. Long Live the Vacancy, 10:50 am - 11:35 am
   Christian Haefke, New York University, Abu Dhabi

   Discussant: 11:35 am - 11:45 am
   Jun Nie, Federal Reserve Bank of Kansas City
   
   

Chair: Qing Liu, SEM, Tsinghua University

1. Social Insurance and Occupational Mobility, 2:30 pm - 3:15 pm
   German Cubas, University of Houston
   Pedro Silos, Temple University

   Discussant: 3:15 pm - 3:25 pm
   Chaoran Chen, National University of Singapore

   Coffee Break 3:25 pm - 3:45 pm

2. Capital Allocation and Investment Dynamics in Credit Crises, 3:45 pm - 4:30 pm
   Jasmine Xiao, University of Notre Dame

   Discussant: 4:30 pm - 4:40 pm
   Ji Zhang, PBC School of Finance, Tsinghua University

Special Session on Data in China and on-site tour of the China Data Center
3:50 pm - 5:00 pm

By Xianchun Xu, Professor, Director of the Tsinghua China Data Center, and the former Vice Director of the National Bureau of Statistics.

8:10 am: Pick up at the hotel lobby

Chair: Xiangbo Liu, Renmin University

1. The Nature of Firm Growth, 8:30 am - 9:15 am
   Benjamin Pugsley, University of Notre Dame
   Petr Sedlacek, University of Oxford
   Vincent Sterk, University College London

   Discussant: 9:15 am - 9:25 am
   Dan Cao, Georgetown University

2. Investment under Rational Inattention: Evidence from US Sectoral Data, 9:25 am - 10:10 am
   Peter Zorn, University of Munich

   Discussant: 10:10 am - 10:20 am
   Eric Young, University of Virginia

   Coffee Break: 10:20 am - 10:35 am

3. Learning, Confidence, and Business Cycles, 10:35 am - 11:20 am
   Cosmin Ilut, Duke University
   Hikaru Saijo, University of California Santa Cruz

   Discussant: 11:20 am - 11:30 am
   Wei Cui, University College London
   
   

   Keynote Speech, 11:30 pm - 12:30 pm
   “Technology Diffusion”
   Nancy L. Stokey, University of Chicago
   
   
   Lunch: 12:30 am - 2:00 pm, Yanming Yuan

Chair: Zhen Zhou, PBC School of Finance, Tsinghua University

1. Pushing on a String: State-Owned Enterprises and Monetary Policy Transmission in China, 2:00 pm - 2:45 pm
   Hongyi Chen, Hong Kong Institute for Monetary Research, Hong Kong Monetary Authority
   Ran Li, BIS
   Peter Tillmann, Justus-Liebig-Universität Gießen

   Discussant: 2:45 pm - 2:55 pm
   Min Ouyang, Tsinghua University

   Coffee Break 2:55 pm - 3:10 pm

2. Fiscal Decentralization and Overborrowing, 3:10 pm - 3:55 pm
   Si Guo, International Monetary Fund
   Yun Pei, University at Buffalo, SUNY
   Zoe Xie, Federal Reserve Bank of Atlanta

   Discussion: 3:55 pm - 4:05 pm
   Jinhui Bai, Washington State University and Tsinghua University

3. Investing in Public Infrastructure: Roads or Schools? 4:05 pm - 4:50 pm
   Grace Li, International Monetary Fund

   Discussion: 4:50 pm - 5:00 pm
   German Cubas, University of Houston

   5:00 pm and after, trip to the Summer Palace