There is a growing concern in recent years over the potential formation of bubbles in the Chinese real estate market. This paper aims to conduct a series of bubble diagnostic analysis over nine representative Chinese cities from two aspects. First, we investigate whether the prices had been...

Open banking is an emerging business model that is representative of FinTech. To explore whether inclusive FinTech can improve bank performance and identify the underlying mechanisms by which this occurs, we investigate a sample of Chinese commercial banks involved in open banking during...

This paper establishes a dynamic stochastic general equilibrium (DSGE) model including secondary asset market and financial accelerator mechanism, to examine the short-term impact of money demand shock and capital liquidity shock on financial accelerator mechanism and then on the macro-economy,...

This paper establishes a dynamic stochastic general equilibrium (DSGE) model including secondary asset market and financial accelerator mechanism, to examine the short-term impact of money demand shock and capital liquidity shock on financial accelerator mechanism and then on the macro-economy....

This paper develops a formal model to detect whether loss aversion, as a stable feature, serves as a medium for translating better environment into inferior performance. We show that environmental improvements induce a structural behavior change of loss-averse investors, which in turn leads to...

Cultural diversity is a “Double-edged sword” for stock market development. The current research investigated the relationship between cultural diversity and stock market prosperity. It was found that that cultural diversity could promote stock market prosperity and the effect varies from...

Soybean [Glycine max (L.) Merr.] was domesticated in China but has a long history of cultivation on the Korean peninsula and in Japan. All three areas are considered important sources of soybean germplasm. The objectives of this study were to evaluate the genetic variation in soybean within and...

Consider a semiparametric model yi = xi' beta + g(ti )+ei; i = 1;2..., n, error ei are i.i.d. random variables from unknown distribution f(e). In this paper, we propose a nonlinear wavelet estimator ^f(e) of f(e) based on residuals ê =yi - ^yi here restriction of uniformly continuous on f(e)...

The recent experience of infrastructure investment in the People's Republic of China (PRC) suggests an intertwined relationship between investment, urbanization, and economic growth. In one mechanism, urbanization generates demand for infrastructure investment, which then drives economic growth...