Qiyao Zhou, a 4th year graduate student in our Department, was awarded an honorable mention for the Best Student Paper at the 2022 Annual Meeting of the Urban Economics Association in North America and Europe, for his paper "Under control? Price ceiling, queuing, and misallocation: Evidence from the housing market in China".  The paper develops a model to study the general equilibrium effects of price control policies in the housing market in Shanghai. The government has imposed a price ceiling on new houses in Shanghai since 2017 to control housing price growth. Qiyao's results suggest that the welfare loss associated with the price ceiling is around 7.4 billion US dollars from 2018 to 2020, with entry/waiting costs accounting for around half of the total welfare loss. More information on the conference award is available here. 

10/4/2022