CEMA研讨会2019年春季第十讲将于5月16日（周四）中午12:10-1:30在712会议室举行，由首都经贸大学国际经济管理学院杨欣桐助理教授报告论文“Bequest motive, household portfolio choices and wealth inequality in urban China”，欢迎感兴趣的师生参加。

【题目】：Bequest motive, household portfolio choices and wealth inequality in urban China

【摘要】：This paper studies the role of bequest motives in household portfolio choices and wealth inequality using a computable incomplete-market life-cycle model with pre-cautionary saving motives, accidental bequests, and voluntary bequests. Using the data in China Household Finance Survey (CHFS), we estimate the magnitude of bequest motives. Calibrating the model to match the main features of household finance in CHFS, we quantitatively measure the effect of voluntary bequest motives on the household portfolio choices and wealth distribution in urban China. Our results indicate the importance of bequest motives in shaping the Chinese household portfolio choices and wealth inequality, and have the policy implication on the implementation of inheritance taxes to alleviate the wealth concentration and to promote household consumption in contemporary China.

【报告人简介】：杨欣桐，首都经贸大学国际经济管理学院助理教授。2005年进入中国经济与管理研究院数理经济与数理金融实验班，2009年获经济学数学双学士学位，2016年获美国加州大学圣芭芭拉分校经济学博士。研究领域为宏观经济学，经济增长，家庭金融，经济理论等，研究成果发表于Economic Theory等国际期刊。

中国经济与管理研究院
2019年5月13日