Speaker: WEI Xu, Associate Professor, School of Finance, Central University of Finance and EconomicsTencent Meeting ID: 732-616-591 (This meeting is open to the public, please note your real name and faculty if you join the conference)Abstract: This paper investigates the impact of term spread of risk-free interest rates on corporate debt maturity, both theoretically and empirically. We first establish a theoretical framework endogenizing firm's debt maturity with uncertain interest rates. We find that when the current short-term interest rate decreases compared with long-term rate (term spread increases), the expected future short-term rate increases. Hence, the relative cost of borrowing in short term increases at the current date but decreases at the rollover date. With these two opposite effects, the relationship between firm's optimal debt maturity and term spread can be hump-shaped. Then we use panel data of US firms from 1981-2018 to test our theoretical prediction. We regress firms’ debt maturity on term spread and term spread square. It is found that the coefficient of term spread (term spread square) is positive (negative) and significant, which implies a hump-shaped pattern consistent with our theoretical prediction. Robustness tests show that this empirical result is not driven by data pattern changes at different periods.

Speaker: XU Yi, Professor of Economics, Duke UniversityTencent Meeting ID: 349-393-670 (Please note your name and organization）

Speaker: Daniel Yi Xu, Professor, Duke University, USAProfessor Yi (Daniel) Xu’s research focuses on Productivity, International Trade, and Industrial Organization. He has received numerous grants from the National Science Foundation, the Private Enterprise Development in Low-Income Countries, and the NET Institute. His most recent work has been published in the American Economic Review, Management Science, the Review of Economic Studies, the Rand Journal of Economics, the Review of Economic Dynamics, and the World Bank Economic Review. He is currently working on projects that explore innovation, productivity, exporting and industry dynamics, with a special focus on emerging economies such as China, Colombia, Taiwan, Korea, and Turkey.Tencent Meeting ID: 349393670

Do you want to find internship opportunities at international organizations?What kind of talents do they need?How to choose the right direction?Come and sign up!Speaker: LAI Mengjie, Deputy Director of the Comprehensive Office of the Employment Guidance and Service Center of Zhejiang UniversityVenue: DingDing MeetingRegistration: Please scan to sign up!

Speaker: WANG Wendong, Dalian University of TechnologyTencent Meeting ID: 258-226-278Abstract:In this topic we will recall some well-known Liouville type theorems of the steady Navier-Stokes equations, and we will also report some new developments, including the cases of three-dimensional space and two-dimensional space. This is a series of joint work with Seregin, Y. Wang, J. Wu et al.

Speaker:LI Wenjuan, Associate Professor, School of Mathematics and Statistics, Northwestern Polytechnical UniversityTencent Meeting ID: 118-861-553Abstract: In this paper, we consider convergence properties for generalized Schr\{o}dinger operators along tangential curves in $\mathbb{R}^{n} \times \mathbb{R}$ with less smoothness comparing with Lipschitz condition. Firstly, we obtain sharp convergence rate for generalized Schr\{o}dinger operators with polynomial growth along tangential curves in $\mathbb{R}^{n} \times \mathbb{R}$, $n \ge 1$. Secondly, it was open until now on pointwise convergence of solutions to the Schr\{o}dinger equation along non-$C^1$ curves in $\mathbb{R}^{n} \times \mathbb{R}$, $n\geq 2$, we obtain the corresponding results along  some tangential curves when $n=2$ by the broad-narrow argument and polynomial partitioning. Moreover, the corresponding convergence rate will follow. Thirdly, we get the convergence result along a family of restricted tangential curves in $\mathbb{R} \times \mathbb{R}$. As a corollary, we obtain the sharp $L^p$-Schr\{o}dinger maximal estimates along tangential curves in $\mathbb{R} \times \mathbb{R}$. This is joint work with Dr. Huiju Wang.Contact: WANG Meng (mathdreamcn@zju.edu.cn)

Venue: ZOOM

Zoom Meeting ID：969 1664 5048Passcode：150289Link：https://rutgers.zoom.us/meeting/register/tJIkdu-uqj4qHtxaoReQVQFI0T9TOxUKViIHSCHEDULE:10:00–10:05 Opening10:05–10:25 Report1: A Global Review of Ecological Fiscal Transfer10:25–10:45 Report2: Marketizing, Linking and Transforming: the Value of Ecological Products in China10:45–11:05 Report3: Green Bonds as an Option for Illinois State and Local Governments11:05–11:20 Expert review11:20–11:30 Q&A