On June 13, 2024, the 13th lecture of the Song Zexing Lecture Hall for Overseas Masters was held at the Jonathan KS Choi Hall of Puhe Campus, where Professor Miao Jianjun from the Department of Economics of Boston University in the United States was invited to give an academic report titled ‘Capital Income Jumps and Wealth Distribution’. The report was hosted by Liaoning University and undertaken by the Faculty of Economics and Li Anmin Institute of Economic Research, attracting nearly 100 teachers and students majoring in Economics. The report was presided over by Professor You Yu, Deputy Dean of Li Anmin Institute of Economic Research of Liaoning University.
Professor Yu Miaojie, Deputy to the 14th National People’s Congress, Special Inspector of the State Committee of Supervisory of the PRC, member of the International Economics Association, Deputy Secretary of the CPC Committee and President of Liaoning University attended the report meeting and delivered a welcome speech. He expressed his sincere welcome and gratitude to Professor Miao for his lecture at Liaoning University and consent to be a lifelong honorary professor at the university. Professor Yu also introduced Professor Miao to the teachers and students at the meeting, emphasizing his outstanding achievements in macroeconomics and finance.
At the lecture, Professor Miao shared the topic of inequality of wealth distribution in the United States. Starting from the discrepancy between the data and the classic model, he introduced the risks of capital income jump based on the BHA model, which increase the probability of the super-rich. By combining both theories and practices, he vividly analyzed the economic intuition behind the model and clearly showed how BHA explains and provides insight to the economic reality of the super-rich. Teachers at the meeting had exchanges with Professor Miao on the model and data of papers.
At the end, Professor Yao Shujie, Dean of Li Anmin Institute of Economic Research presented Professor Miao with a commemorative plate of the Song Zexing Lecture Hall for Overseas Masters and a lifelong honorary professor appointment letter of Liaoning University. Professor Huo Weidong, Deputy Director of the Faculty of Economics presented Professor Miao with a commemorative photo. Professor Wang Weiguang, Deputy Director of the Faculty of Economics presented Professor Miao with a Think Tank Report of Liaoning University. Associate Professor Tang Rongsheng, Assistant Dean of Li Anmin Institute of Economic Research presented Professor Miao with a school badge and a school cap. Assistant Professor Yu Li from Li Anmin Institute of Economic Research presented flowers to Professor Miao. Guests at the report meeting also took group photos.
Miao Jianjun: biography
Miao Jianjun is a lifelong professor of finance in the Department of Economics, Boston University. He is also Deputy Editor of Economic Theory, Macroeconomic Dynamics and Quantitative Economics and founder of China International Conference in Macroeconomics (CICM). In 1992, he graduated from the University of Science and Technology of China with a bachelor’s degree in mathematics and successively obtained a master’s degree in economics from Sun Yat-sen University, a master’s degree in finance from Queen’s University of Canada and a PhD degree in economics from the University of Rochester. His research fields include the macroeconomic impact of bubbles and crashes, decision-making theories and application under uncertainties, rational neglect, business cycle, fiscal and monetary policies, dynamic contracts and continuous-time finance. His research fields involve macroeconomics and finance and their decision-making theories, public finance and industrial organization theories.
His research papers have been published in some top international journals of economics and finance, including American Economic Review, American Economic Journal: Macroeconomics, Econometrica, International Economic Review, Journal of Economic Theory, Journal of Finance, Journal of Financial Economics, Journal of Monetary Economics, Review of Financial Studies and Theoretical Economics.
