On June 24th, 2016, Prof. Feng Yao (director of institute of economics in Japan's national Kagawa University) gave talks about “Causal analysis of the theory of multivariate time series and empirical” in CEEP.

　　The report was hosted by Prof. Hua Liao, prof. Yiming Wei, prof. Baojun Tang and some other teachers and students attended the seminar and had an in-depth discussion of this topic. Prof Yao began his report from the association of Nobel Prize in economics and causal structure analysis of multivariate time series study, then focused explanation the Wald statistical test research based on Granger Representation Theorem, finally used single direction of cause and effect measure theory of statistical test to reveal the interaction between Asia and Europe's major stock markets of the causal relationship, which is very enlightening and impressive.

　　Professor Yao received his Ph.D. degree in Economics from Tohoku University in Japan and is vice dean of school of economics. Over the years he has made a wealth of scientific research in the field of econometrics, statistics and regional economics and published nearly one hundred papers in many journals like Journal of Econometrics, the Japanese Economic Review, Journal of Management Science and so on.

　　After this lecture, teachers and students from CEEP-BIT had a heated discussion with Prof. Yao and had a picture taken together.