In May 9, 2017, the first session of the International Economics and Business (IEB) Forum held in the conference center of Beihang University. The forum on "International Frontier of Economics" as the theme, is organized by Institute of Economics & Business and School of Economics & Management. The conference invited many well-known scholars from Yale University, Vanderbilt University, University of Toronto, Canada, National University of Singapore, North Carolina State University, Taiwan National Sun Yat-sen University, Peking University, Tsinghua University, Shanghai Jiao Tong University, Xiamen University. The Forum was chaired by Professor Fan Ying, Dean of Institute of Economics and Business, Beihang University.
At the beginning of the forum, Beihang University President Xu Huibin published an ebullience speech. President Xu introduced the Beihang’s latest progress in the discipline development and scientific research during recent years, especially emphasized on the strategic layout of the development of economic and business research in BUAA. Finally, President Xu made a fervent hope for the development of Institute of Economics and Business, and expressed heartfelt thanks to all experts who gave supports to the development of IEB.
Beihang University’s Vice President Huang Haijun announced that Prof. Chen Xiaohong from Yale University, Prof. Li Tong from Vanderbilt University, Prof. Tat Tin Cheng from University of Toronto and other 13 international well-known scholars were hired as the members of the first session of international academic committee of IEB. Subsequently, the vice president Huang awarded to the hired professors. Prof. Liu Zhixin, Party secretary of SEM, announced the part-time professors in IEB, and then Prof. Li Deyu, the director of International Exchange Office of Beihang University, awarded to the part-time professors.
After the opening ceremony of the forum, Prof. Chen Xiaohong of Yale University gave a theme report entitled "Optimal Sup-Norm Rates, Uniform in Nonlinear Functionals of Nonparametric IV". Professor Chen described the latest work by her research team. The research made a several important contributions to the literature about nonparametric instrumental variables (NPIV) estimation and inference on a structural function and its functional.
Later, Prof. Tat Tin Cheng of University of Toronto gave a theme report entitled "Heuristic Approaches Model Learning". Prof. Cheng explained the main research process of the heuristic model learning method to the audience, and explained the influential mechanism of the effect of searching and social learning on consumer's perception of product.
Next, Professor Lu Jingfeng of National University of Singapore made a report titled "All Pay Quality-Bid in Score Auctions". Prof. Lu introduced the equilibrium analysis process of simultaneous quality and price bid with a rigorous reasoning process to the audience.
Professor Li Shi of Beijing Normal University made the speech entitled “Declining Inequality in China? New Finding s from the china Household Income Project ". Prof. Li made a detailed analysis of the current income gap in China through the survey data to further expand the issue, and gave some relevant policy measures to China's control of the income gap in the future.
Professor Ma Chenghu of Fudan University, gave a report entitled "European Options: DNA in Finance". Prof. Ma explained in detail the different effects of pricing and preference on Option Pricing in different markets, which provided an effective reference for the option pricing in Chinese stock market.
In the afternoon of the forum, Professor Yang Shujun of National Sun Yat-sen University, Taiwan, made a speech entitled "Fiscal Consolidation with Public Wage Reductions". Prof. Yang used data and models to explain the impact of public wage cuts on fiscal consolidation.
Professor Han Song of Renmin University gave a report entitled "Productivity Analysis for Polluting Technology". Through the case study and econometric model, Prof. Han analyzed the problem of pollution technical efficiency, and put forward an improved model and method.
Professor Zheng Xiaoyong of North Carolina State University made a report entitled "Estimating Adverse Selection Hazard Effects in Crop Insurance: Evidence from the Philippines". Based on the investigation of the crop insurance industry in Philippines, Prof. Zheng put forward a model to estimate the adverse selection and moral hazard, which extended the traditional one input moral hazard model.
Professor Qian Junhui of Shanghai Jiao Tong University made a report entitled “Structural Changes in the RMB Exchange Rate Regime ". Prof. Qian used panel data to further analyze the structural changes of the RMB exchange rate in the time nodes of “8.11” and “2.15”.
Associate Professor Liu Tianliang of Beihang University made a report entitled "Some Topics on Urban Transportation Economics". Prof. Liu explained the economic meaning of urban traffic and the important influence on the common people with his own experience.
Professor Li Ping of Beihang University made a report entitled “Pricing and Design of Contingent Convertible Bonds ". Prof. Li explained the history of CoCo bonds, and put forward a new pricing model.
This forum provides a platform for communications and interactions between the domestic and foreign scholars in the field of frontier of economics research, and it also brings an academic visual feast for the SEM’s teachers and students. In the future, Institute of Economic and Business will rely on its own strengths in economic and business research, make closer cooperation with leading scholars in top universities both home and abroad, seize the strategic opportunity to create a world-class university, and strive to build a school of economic and management with international advanced level.
