时间：4月21日 13:30-15:00

地点：博远楼第三报告厅

主题：Inequality and the Political Economy of Capital Market Regulation

主要内容：

Due to market imperfections, economic growth benefits more who have better access to capital markets. We focus on the role of capital markets in the increase in income and wealth inequality, and the effect of inequality on the political economy of capital-market regulation. This paper finds that there is a trade-off between risk sharing and inequality in the presence of market imperfections. Financial market imperfections can contribute to the deepening of wealth inequality. The composition of the population makes a significant difference. Regulation policy may affect voting outcome. There may not be a fixed desirable regulation policy for “either party", because it depends on economic conditions and market imperfections. Socially optimal choice may not be implementable by democratic voting. There is no fixed socially optimal choice for the type of financial system.

主讲人简介：

王坦博士，上海交通大学上海高级金融学院金融学教授，金融硕士项目学术主任。首经贸中国ESG研究院学术专家。曾任滑铁卢大学经济学助理教授（1992-1996）和英属哥伦比亚大学助理教授、副教授与商学院Peter Lusztig金融学讲席教授（1996-2014）。王坦教授曾在MIT斯隆管理学院任客座教授，2003和2005年曾是克利夫兰联邦储备银行和国际货币基金组织的访问学者。王教授的研究领域包括跨期资产定价理论、不确定型决策、银行系统风险、投资和风险管理等，在全球顶级学术期刊如Review of Financial Studies, Journal of Finance, Management Science, Journal of Economic Theory, Mathematical Finance和Econometrica等发表多篇论文。