This paper examines spatial allocation and urban wage premiums of skills in China by leveraging a comprehensive dataset that includes several waves of population censuses and nationally representative surveys. Our finding indicates an increasing concentration of occupations requiring high levels...

This paper examines spatial allocation and urban wage premiums of skills in China by leveraging a comprehensive dataset that includes several waves of population censuses and nationally representative surveys. We document an increasing concentration of occupations requiring high levels of...

This paper examines how network carriers adjust product quality given the competition from a low cost carrier (LCC). While previous research has shown that product quality (measured by on-time performance) suffers from heightened competition by LCC (Prince and Simon, 2015), our results find the...

How does a booming housing market crowd out credit access of firms and distort resource allocation in the real economy? This paper relies on a home purchase restriction (HPR) policy in Chinese cities as a natural experiment and shows that an exogenous reduction in housing demand and a halt on...

The U.S. personal bankruptcy system functions as a bankruptcy system for small businesses as well as for consumers. When firms are non-corporate, debts of the firm are personal liabilities of the entrepreneur/owner. If the firm fails, the entrepreneur has an incentive to file for bankruptcy...

Debate about the appropriate design of energy policy hinges critically on whether consumers might undervalue energy efficiency, due to myopia or some other manifestation of limited rationality. We contribute to this debate by measuring consumers' willingness to pay for fuel economy using a novel...

The U.S. personal bankruptcy system functions as a bankruptcy system for small businesses as well as consumers, because debts of non-corporate firms are personal liabilities of the firms' owners. If the firm fails, the owner has an incentive to file for bankruptcy, since both business debts and...