The 2021 Nobel Prize in Economics was awarded to David Card, Joshua Angrist, and Guido Imbens. Why have these three economists won the award and what are their major contributions? What is the practical impact and significance of the theories that they have proposed?

The 2021 Nobel Prize in economics was awarded by the Royal Swedish Academy of Sciences to David Card, Joshua Angrist, and Guido Imbens for their empirical research on labor economics and their contributions to causality methodology. Upon the announcement of the award, Tencent Finance immediately connected with David Daokui Li, Director of ACCEPT at Tsinghua University and Co-president of the Society for the Analysis of Government and Economics (SAGE), for comments.

Consistent, steady policy support for China's smaller business communities has been and will continue to be notably essential and necessary for the country's economic recovery from the impact of COVID-19, industry experts and business owners said on Sunday.

Is inflation ‘always and everywhere a monetary phenomenon’ or is it fundamentally a fiscal phenomenon? The answer hinges crucially on the underlying monetary–fiscal policy regime. Scant attention has been directed to the role of credit market frictions in discerning the policy regime, despite its growing importance in empirical macroeconomics.

David Daokui Li and Li Ke'aobo put forth recommendations for exploring the road to common prosperity with Chinese characteristics.

The 2020 Tokyo Olympic Games provide a wealth of information for analysts of the great-power competition in which China and the United States are now engaged. It also offers three crucial lessons, which if heeded, could help to defuse bilateral tensions.

In this paper, we discuss the field of government and economics, an emerging body of work that aims to better understand government's role, incentives and behavior in a modern market economy, as well as how government actions shape the economy's performance.

Since the reform and opening up in 1978, China's economy has been more deeply involved in globalization. Because it is better in line with the theory of comparative advantage in trade, China has been in a state of current account surplus for a long time, thus accumulating large-scale foreign exchange reserves. This paper examines China's trade surplus and foreign exchange reserves from a longer-term historical perspective.