时间：星期一（10月20日）下午3:30-5：00 地点：中心 小教室 内容：由香港科大 的Albert Park 教授来演讲由他和CCER毕业生蔡澍的文章"Permanent Income and Subjective Wellbeing: A Theoretical and Empirical Analysis"。 简介：Park 教授斯坦福大学博士毕业，曾任教于美国密歇根大学、英国牛津大学。他长期从事中国相关的研究，也是CHARLS最早的PI之一。 Abstract：

We provide a new explanation for the stronger relationship between income and subjective well-being (SWB) found in cross-sectional versus panel studies based on the predictions of a rational expectations model of consumption with permanent and transitory income shocks. The model predicts that SWB is affected by unanticipated rather than anticipated income shocks, and more influenced by changes in permanent rather than transitory income. Empirically,permanent income is expected to account for a greater share of cross-sectional income variation than changes in household income overtime. We test our predictions using a unique panel dataset from rural China which includes subjective expectations of future income, as well as actual income in each wave, which enables us to separately identify the effects of anticipated versus unanticipated shocks. The empirical results confirm the model’s predictions, providing support for the importance of permanent income in explaining SWB.