一、讲座主题：Missing repayments on haze days: Evidence from household debt

二、主讲人：李建文，经济学博士，研究方向为金融科技，在International Review of Finance, Journal of Applied Economics, Finance Research Letters, Future Generation Computer Systems,《世界经济》《财贸经济》等期刊发表学术论文9篇，主持山东省自然科学基金、中国博士后科学基金等项目。

三、主要内容：This paper studies the impact of air pollution on an everyday, routine financial decision that is cognitively less demanding. Using data from a leading P2P lending platform in China, we find that borrowers are more likely to miss their repayments when the scheduled repayment days witness heavier air pollution. A deterioration of air quality from “excellent” to “severely polluted” is associated with an increase in delinquency rate by 219.4 basis points (17.4%), after controlling for city-by-year-month, day-of-week, and loan fixed effects. Pollution-induced delinquencies are most likely explained by the physical or mental discomfort on haze days, rather than driven by borrowers’ lack of long-term solvency or short-term liquidity. However, they cause a reduction in borrowers’ credit ratings and success rates of future loan applications equally as large as do delinquencies less likely induced by pollution, implying a misallocation of credit. We also document a similar delinquency response using an alternative dataset of mortgage repayments.

四、时间：2022年3月10日12:00-13:30

五、地点：中心校区知新楼B321