We estimate the casual effect of warmer temperatures on energy poverty in China using a nationally representative household survey from 2014 to 2018. Exploiting daily mean temperatures over the 12 months preceding the interview, we find that warmer temperatures increase energy poverty at both...

The purpose of this paper is focus directly on the phase shift. For one thing, we ask whether a sticky-price model economy can account for both countercyclical prices and procyclical inflation. We present findings in which the price level is countercyclical and the inflation rate is procyclical....

Annual reports are the main sources of information for outside investors' investment decisions and enable shareholders to supervise the management. Difficulties with the readability of these reports may therefore have serious consequences. Using 19,221 firm-year observations of Chinese A-share...

This paper analyzes costly favoritism related to physical attractiveness and gender in bank loan markets using a market structure-based method. The rationale is that a concentrated market provides more space for loan officers to discriminate against a certain group of borrowers. Using several...

Reducing energy intensity and coping with climate change are important policy issues that face all countries. This study examines the impact of business cycles (recessions and expansions) on energy intensity in sixteen emerging countries in 1990-2014. We find that during periods of economic...

While it is well-established that air pollution damages health and inhibits productivity, the political cost of air pollution remains poorly understood. We estimate the causal effect of air pollution on political trust in local government in China, which underpins the stability of the...