题目：Globalization Boom and Bust: A Study of the U.S. Automobile Industry from 1913 to 1940

主讲人：Dong Cheng

讲座时间：2016年11月130日 下午14:00-16:00

讲座地点：经济学院会议室1305

主讲内容：

We study the variation in U.S. automobile export quantities and prices from 1913 to 1940 using a newly constructed panel spanning approximately 170 foreign destinations. Automobile exports rise by a factor of almost 10 during the roaring 1920’s and collapse by a similar factor in half the time during the 1930’s. We attempt at accounting for the boom as the diffusion of automobiles, starting from obscure luxuries to more commonplace and affordable durables. We attribute most of the bust to the business cycle factor that reduces income in destinations. The empirical evidence and crash simulation by and large support our diffusion and business

cycle hypothesis.