学术论文
研究焦点
全球学者
知识转移
明德商论
龙虎山下
媒体报导
The Green Revolution and Individualism: Evidence from Indonesia
The Green Revolution and Individualism: Evidence from Indonesia
This paper studies the effects of the Green Revolution, one of the largest development projects in the late 20th Century, on individualism. We use a difference-in-differences approach to investigate how rapid technological and organizational changes in traditional agriculture reshaped cultural norms in Indonesia, where Green Revolution rollout was largely driven by centralized government interventions. Regions with greater exposure to Green Revolution policies experienced significant and persistent increases in individualism (as measured by a higher prevalence of infrequent names) decades after the end of the program. Results are not driven by pre-trends and hold across a battery of robustness checks. We further document suggestive, correlational evidence of a persistent fall in community funding for public goods, a key measure of collective action. Our findings suggest that technical change can lead to rapid and persistent changes in culture.

Optimal Monetary Policy with Confounding Information
Optimal Monetary Policy with Confounding Information
In this paper, we study optimal monetary policy in an economy where firms’ price-setting decisions are distorted by a signal-extraction problem: they cannot perfectly distinguish aggregate from idiosyncratic shocks based on noisy local information. This systematic misattribution of aggregate shocks to firm-specific factors generates an additional price response, implying that strict price stability is no longer optimal. Instead, the optimal policy fully stabilizes the output gap, which necessarily requires accommodating fluctuations in the price level. The cyclicality of the optimal price level depends on the source of firms’ incomplete information: learning from local demand signals implies a procyclical price level, whereas learning from local productivity signals yields a countercyclical one.

Signaling Vision: Knowing When to Quit
Signaling Vision: Knowing When to Quit
We study a signaling game where agents signal their type by choosing when to quit pursuing an uncertain project. High types observe news about project quality and quit when bad news arrives. Low types who do not observe any news may mimic high types by quitting continuously over a phase of time. The reputation dynamics may exhibit nonmonotonicity with respect to quitting time. Our analysis offers a unifying explanation for how and when both early and late quitting can enhance reputation and suggests novel welfare and policy implications.

Corporate Lobbying of Bureaucrats
Corporate Lobbying of Bureaucrats
Executive agencies play a pivotal role in shaping the regulatory environment by crafting rules, enforcing regulations, and overseeing government contracts—all of which can have a profound impact on businesses. For firms, this potential impact creates a clear incentive for firms to influence these agencies, particularly during the critical stages of rulemaking and enforcement. In this context, lobbying emerges as a key tool that companies use to mold the regulatory landscape to their advantage. Unlike politicians, whose decisions are often swayed by electoral cycles and campaign contributions, agency officials are not elected, serve longer terms, and are less susceptible to direct political pressures. As a result, engaging in lobbying efforts with executive agencies is both more complicated and strategically crucial for firms operating within heavily regulated industries. However, the dynamics of such lobbying remain underexplored in the literature.
春节幸福感和疫情感知风险调查:来自机器学习的洞察
春节幸福感和疫情感知风险调查:来自机器学习的洞察
2023年刚结束的兔年春节内地民众过得怎样?调查显示,兔年春节期间,民众的幸福感平均值为5.47,介于“比较开心”与“开心”之间(1为最低值,7为最高值),“比较开心”以上人群占比为83.1%。
How to Recover from Work Stress, According to Science
How to Recover from Work Stress, According to Science
To combat stress and burnout, employers are increasingly offering benefits like virtual mental health support, spontaneous days or even weeks off, meeting-free days, and flexible work scheduling. Despite these efforts and the increasing number of employees buying into the importance of wellness, the effort is lost if you don’t actually recover. So, if you feel like you’re burning out, what works when it comes to recovering from stress? The authors discuss the “recovery paradox” — that when our bodies and minds need to recover and reset the most, we’re the least likely and able to do something about it — and present five research-backed strategies for recovering from stress at work.

研究企业之间的协调行为 – 郝宇博士
研究企业之间的协调行为 – 郝宇博士
计算机编程听起来好像和经济风马牛不相及,但拥有出色的编程技术,不但能帮助个人进行经济学学术研究,更能助你在商界捉紧更多就业机会。

构想虚拟货币的未来 – 游杨博士
构想虚拟货币的未来 – 游杨博士
作为教师,在鼓励同学努力学习之余,我亦会主动了解本地市场运作以及邀请雇主来到课堂分享业界经验。

从量子物理学到计量市场学—党矗博士
从量子物理学到计量市场学—党矗博士
理科出身的我,非常欣赏同学们的商业触觉。作为他们的师长,在教导他们使用数理工具作出科学判断的同时,我亦希望能够鼓励他们爱上学习,保持对未知事物的好奇心,应用课堂所学到的知识为社会做出贡献。

赛博永生:当你的技能被蒸馏之后
赛博永生:当你的技能被蒸馏之后
今年四月,"同事.skill"走红,把离职同事的聊天记录和邮件喂给AI,就能生成数字分身。港大经管学院经济学副教授于萍、经济学高级讲师章逸飞在FT中文网撰文指出,这动摇了"人力资本跟人走"的前提:可编码的经验一旦被近乎零成本复制,工资只会反映蒸馏不走的判断力,议价权随之削弱。他们建议,先算清工资在为什么买单,再拼命增加隐性知识的比重。
AI是CEO的对手,还是武器?
AI是CEO的对手,还是武器?
人们寄望AI能让组织的决策变得更加民主和理性。事实上,AI一方面让高质量的判断变得人人可得,另一方面也为不受制衡的权力提供了新的杠杆。更平等的信息,未必意味着更平等的权力。
从反倾销到贸易战: 贸易政策与争端的过去、现在与未来
从反倾销到贸易战: 贸易政策与争端的过去、现在与未来
中美经贸磋商有助于管控分歧,但行业层面的贸易争端不会随之自动消失。从去年釜山会晤到今年5月特朗普总统访华,双方持续推进对话。
亚洲四小龙的创科殊途:香港经济将走向何方?
亚洲四小龙的创科殊途:香港经济将走向何方?
今年标志着香港正式迈进“第一个五年规划(2026–2030)”时代。新旧交替之际,本文旨在回顾亚洲四小龙经济发展的不同路径,为香港提供启示。
博彩税创造还是转移财富
博彩税创造还是转移财富
港大经管学院谢国生教授与何敏淙在《信报》撰文指出,博彩主要是转移财富,而非创造财富:一张100元彩票不会产生新商品或服务。赛马会2025/26年度向社会回馈393亿元,惟研究发现,低收入群体把较高比例收入用于博彩。两位作者认为,博彩政策应以净社会效益衡量,而非只看税收规模。
技术是自家的   生意是人家的
技术是自家的   生意是人家的
学术界饭局上谈到半导体,总有人会问笔者:日本当年那么厉害,怎么就没出现一个三星或台积电?问题问得很好,细想却有点错位。台积电做的是晶圆代工,替别人造晶片,自己并不卖存储产品。日本也没有退出存储市场,铠侠至今仍是全球领先的NAND快闪记忆体制造商。
亚洲四小龙的创科殊途:香港经济将走向何方?
亚洲四小龙的创科殊途:香港经济将走向何方?
今年标志着香港正式迈进“第一个五年规划(2026–2030)”时代。新旧交替之际,本文旨在回顾亚洲四小龙经济发展的不同路径,为香港提供启示。
技术是自家的   生意是人家的
技术是自家的   生意是人家的
学术界饭局上谈到半导体,总有人会问笔者:日本当年那么厉害,怎么就没出现一个三星或台积电?问题问得很好,细想却有点错位。台积电做的是晶圆代工,替别人造晶片,自己并不卖存储产品。日本也没有退出存储市场,铠侠至今仍是全球领先的NAND快闪记忆体制造商。
AI是CEO的对手,还是武器?
AI是CEO的对手,还是武器?
人们寄望AI能让组织的决策变得更加民主和理性。事实上,AI一方面让高质量的判断变得人人可得,另一方面也为不受制衡的权力提供了新的杠杆。更平等的信息,未必意味着更平等的权力。