(1) Research on Macro-finance Theory and Policy in Open Economy. The characteristic of this research direction is to break through the traditional practice that financial theory research is limited to domestic scope, introduce the cross-time analysis method of micro-foundation, and focus on the financial market stability theory, exchange rate theory, interest rate theory and macro-financial management theory under the condition of open economy.
(2) Study the basic principles, policies, practices and frontier conditions of international finance. Including the international monetary system and international monetary relations; The structure and function of international financial market and the development of financial technology: the principle and practice of foreign exchange rate and foreign exchange trading; The role of international financial organizations and the activities of international banking; The role of international reserves and the appropriateness of China's international reserves.
(3) Monetary banking theory. Mainly study the law of currency circulation; The determination and adjustment of money supply and demand; Organization and management of money market; The operation and management of the bank; The formulation of national monetary policy and its transmission mechanism.
(4) The basic theory and empirical analysis of financial marketing. We introduce the financial market microstructure theory and financial market econometrics analysis methods to analyze the investor behavior and trading rules of China financial market, especially the capital market.
In the next few years, we will focus on the following aspects:
(1) international finance: using the cross-time analysis method of micro-foundation, we will carry out the research on the real exchange rate of RMB, the micro-basic research on the determination of RMB exchange rate, and the research on the conditions and policy arrangements for RMB to move towards capital account convertibility.
(2) Financial market: research on the microstructure of China financial market, such as the microstructure analysis of China securities investment funds (for example, fund performance evaluation, closed-end fund discount, fund portfolio management, etc.). ), microstructure analysis of trading rules in China stock market (for example, daily limit system, information disclosure system, etc. ), as well as the microstructure analysis of institutional investors and small and medium-sized investors (such as the game equilibrium between bookmakers)
(3) Financial engineering, investment and corporate finance.