There are a number of theoretical reasons why cities interact with each other. Such spatial interdependence has been largely ignored by the empirical literature with only a couple of recent papers accounting for such issues in their estimation. This paper takes spatial dependence panel data...

Using the panel data of 31 provinces during 1993-2005, this paper examines the factors that influence wage changes in China. During the process of the marketization, the linkage between wage and some factors such as inflation, productivity and unemployment rate has been strengthened. But there...

Based on the framework of Bernanke & Blinader (1988) and Walsh (2003), this paper provides a concise analysis for relationship among money supply, banking lending and aggregate demand; and makes an empirical test on relationship among China¡¯s money supply, banking lending and aggregate demand...

We present a mixed oligopoly model for private banks and a public bank with mixed ownership and policy burden to research the program of strategic investor importing for state-owned banks. We find that close relationships exist among the equilibrium equity structure following strategic investor...

In this paper, we develop a model of institutional change of land property right in China, which include the influences of lobbying and the political power division in 1978. The model illustrates how extra gains are produced under different institutions and how lobbying and political power...

The main purpose of this paper is to identify and measure the potential effect of property tax on speculative bubble in residential property market in China where the issue on the introduction of property tax is still fiercely debated. As a primary and necessary step, we firstly provide an...

This paper builds a micro-behavior model of central bank and financial institutions from the perspective of property-rights. By analyzing the theoretical model and the practice, we conclude that, in the framework of the present financial stabilization policies in China, the central bank¡¯s...

In China¡¯s transitional economy, government regulation could be a substitute for the lack of law mechanism and regulator¡¯s power could spill over into other areas not regulated. Then, theoretically it could construct implicit contracts. For example, China Securities Regulatory Commission...

The Median Voter Theory is an important theory in the neo-political economics. It can be applied to solve the collective choice paradox and analyze the policy making for the citizenization of peasant workers. Adopting the method of factor analysis, this paper makes an empirical study on peasant...

From the perspective of welfare, by synthesizing the normative and empirical analysis, this paper applies the framework of ¡°new open economy macroeconomics¡± to the qualitative and quantitative researches on the choice of RMB exchange rate regime in the short and medium run. It sets up the...