This paper reveals an informal eldercare arrangement in China by focusing on how the value of housing owned by aging parents affects the adult children’s caregiving behavior. Using three waves of comprehensive national survey data from 2011 to 2015 around China, we find that when the potential...

Results from a large sample of individual Chinese investors demonstrate that they were more likely to trade stocks for short-term speculation after experiencing trauma such as natural disasters, serious illness, or death in their immediate family. They exhibited higher impulsivity, a greater...

This paper theoretically and empirically explores the Linder conjecture (the home market effect (HME) in terms of trade pattern) in the environmental sector. Using a general-equilibrium model for a two-country two-sector economy, we demonstrate the existence of a strong/weak HME and the crucial...

Motivated by the stylized fact that intraday returns can provide additional information on the tail behaviour of daily returns, we propose a functional autoregressive value-at-risk approach which can directly incorporate such informational advantage into the daily value-at-risk forecast. Our...

Governments are important financiers of private sector innovation. While these public funds can ease capital constraints and information asymmetries, they can also introduce political distortions. We empirically explore these issues for China, where a quarter of firms' R&D expenditures come from...

This paper presents the first investigation into the economic consequences of the zero-COVID policy implemented by the Chinese government as a pilot experiment in using big data for country management from 2020 to 2022. Our study includes an original county-daily panel data set on the COVID risk...

Governments are important financiers of private sector innovation. While these public funds can ease capital constraints and information asymmetries, they can also introduce political distortions. We empirically explore these issues for China, where a quarter of firms' R&D expenditures come from...