People

Ping Chen is currently Professor of Economics at the National School of Development, at Peking University, and Senior Research Fellow at Center for New Political Economy at Fudan University. He received his Ph.D. in Physics at University of Texas at Austin in 1987, supervised by Ilya Prigogine. Ping Chen is a pioneer in studying economic chaos and economic complexity since he shifted his interest from physics to economics amid the Chinese Cultural Revolution. In 1987, he found empirical and theoretical evidence of economic chaos from monetary indexes, and in 1994, evidence of persistent cycles from macro and stock indexes. He also discovered weak evidence of micro foundation of macro fluctuations based on the Principle of Large Numbers in 2002 and has proposed a new trinity of micro-meso-macro economy in economic analysis. His book, Economic Complexity and Equilibrium Illusion: Essays on Market Instability and Macro Vitality, published by Routledge in 2010, developed a new perspective of complex evolutionary economics. He has been actively involved in China’s reform policy since 1978.