时   间：3月25日周三下午2—4:00 地    点：国家发展研究院万众楼一楼小教室 主讲人： Jessica Leight (Williams College)   主    题：Grain into gold? The impact of agricultural income shocks on rural Chinese households.   Abstract:   This paper estimates the effect of income shocks experienced by Chinese households beginning in 1993, by analyzing a quota system that mandated households sell part of their grain output to the state at a below-market price. Increases in the quota price generated income shocks that varied cross-sectionally in accordance with crop composition, and this paper's identification strategy exploits climatically driven variation in crops in conjunction with quota price fluctuations. The results suggest agricultural investment falls and investment in non-agricultural businesses rises as households gain increased income; there is also evidence of large increases in non-staple consumption.