广大师生：
华南理工大学“海内外优秀青年学者论坛”旨在面向全球邀请拥有不同学术背景的青年才俊，围绕国际科学前沿、热点研究领域以及行业产业的技术问题等展开探讨和交流。通过这个平台，互相启迪、开拓视野，增强国际交流与合作。本次论坛的具体安排如下：
报告题目：Global Housing Markets and Monetary Policy Spillovers: Evidence from OECD Countries
报 告 人：马俊 博士 （美国东北大学终身教授）
报告时间：2018年6月7日(周四) 下午2:00
报告地点：大学城校区B10楼南座202报告厅
欢迎广大师生参加！
华南理工大学经济与贸易学院
2018年6月4日
内容摘要：
What are the driving forces of housing market volatilities across countries in the context of financial globalization? To address this broad question, we integrate the Campbell-Shiller decomposition with a dynamic factor model and apply this approach to the housing price-rent ratios in 17 OECD countries. Our novel approach allows us not only to assess geographically the relative importance of global and country-specific factors in explaining the housing market volatilities, but also to distinguish economically between those housing market volatilities attributable to different economic driving forces. We find that the housing market volatility for an average country is mainly driven by the global factors, especially during the years leading up to the 2007-2008 financial crisis. Furthermore, among the global factors, it is the global housing risk premium that is primarily responsible for the housing market volatility. Using a Structural Vector-Autoregressive (SVAR) model identified with the Instrumental Variable (IV) method, we find that an unexpected U.S. monetary policy tightening is typically followed by a persistent and statistically significant rise in the global housing risk premium. Our findings are broadly in line with the credit or risk-taking channel of the monetary policy spillovers from the United States to the global financial markets.
报告人简介：
马俊,美国西雅图华盛顿大学经济学博士，现任美国波士顿东北大学经济系副教授（终身教授），主要研究领域是宏观经济与国际金融。他曾任中国留美经济学会会长，现任中国留美经济学会理事会主席，纽约巴克莱投资银行顾问，非线性动态计量经济学会行政理事及财政部长。他曾应邀访问美国联邦储备银行以及挪威和新西兰等国中央银行，并作专题报告。他也曾应邀访问美国圣母大学和范德比尔特大学，英国杜伦大学，德国莱布尼茨汉诺威大学，新西兰惠灵顿维多利亚大学，丹麦奥胡思大学，中国浙江大学和南京大学等其他国际国内知名院校，并做专题报告。他在国际国内一流学术期刊发表多篇文章，并担任多家期刊匿名审稿人，以及多所国际知名大学博士论文外审专家。
