The Third Joint Academic Workshop between the City University of Macau and the University of Macau was held on 26 October 2026, in Room G2213 at the Golden Dragon Campus of the City University of Macau. At the opening of the workshop, Professor Adrian (Wai Kong) Cheung, Dean of the Faculty of Finance at the City University of Macau, set out the core objectives of the event. He stressed that academic research requires the convergence of diverse perspectives and the application of a variety of research methods, and noted that the workshop aims to promote in-depth exchange of academic ideas, with the hope that participants will be inspired to develop new research ideas through the event. On behalf of the Faculty of Finance at City University of Macau, Dean Cheung welcomed the experts and scholars from the University of Macau and thanked them for sharing their latest research findings and academic insights.

The first session was chaired by Professor Yonghong Zhou of the City University of Macau. Dr. Inácio Bó, an associate professor at the University of Macau, and  Miss Chunyu Zhao, a PhD student in Economics at the University of Macau, presented “Switching Random Priority: Incentives and Fairness in Multi-Object Allocation”. The paper introduces a new allocation mechanism, the Switching Random Priority (SRP) mechanism, which randomly selects each successive picker from agents other than the previous picker. This prevents the same agent from choosing consecutively while making it risky for agents to deliberately rank a preferred object lower. Dr. Chaonuo Dai, an assistant professor at the City University of Macau, then presented “Rising Temperatures and the Labor Income Share: Evidence from a Global Panel”. The study examines how climate change affects income distribution and develops a theoretical production framework showing how changes in relative labor and capital productivity and capital accumulation affect the labor income share.

Associate Professor Yibai Yang of the University of Macau chaired the second session. Miss Li Lyu, a PhD student in Economics at the University of Macau, and Associate Professor Yibai Yang presented “Patent Thickets, Rent Protection, and Economic Growth”. The paper develops a standard Schumpeterian quality-ladder model that jointly considers two distinct strategies incumbent firms use to protect monopoly rents and examines the effects of fiscal policy and intellectual property rights (IPRs) protection policies. Dr. Meng Li, an assistant professor at the City University of Macau, then presented “Increasing Data Barters and Decreasing Labor and Capital Shares”. The paper develops a theoretical framework to study how increasing data barter affects labor and capital income shares.

The third session was chaired by Professor Markus Leibrecht of the City University of Macau. Miss Florence Ho, a Research Assistant Professor at the University of Macau, presented “Optimal Subsidies in an Open Economy with Endogenous Growth”. This paper investigates the joint impact of domestic and foreign government subsidies for final-good production and R&D on global economic growth and social welfare using a two-country Schumpeterian endogenous-growth framework. Finally, Dr. Le Li, an assistant professor at the City University of Macau, presented “A Further Investigation on the TCCE Approach for Treatment Effect Estimation”. In this paper, he revisits the treatment and common correlated effects (TCCE) approach of Brown et al. (2026) for estimating treatment effects in the presence of time-varying covariates.

The workshop offered a rich program and provided faculty and students a platform to exchange perspectives and learn from one another. Attendees listened carefully to the presentations and shared research insights, broadening their academic horizons and strengthening scholarly exchange in economics between the two universities.