To fill the knowledge gap that previous studies ignore either housing or internal urban structure and to enable better fit with important stylized facts, we construct a two-sector optimal growth model of housing where housing is produced by land and housing structure/household durables. We...

Abstract Our assessment of the competitiveness of the Hong Kong economy from various perspectives indicates that the overall competitiveness of Hong Kong economy has been improving during the past several years. However, from a longer term historical perspective, there are still a number of...

I build a model with a microfoundation to understand how productivity changes in the manufacturing and the agricultural sectors impact the relative size of a city and the surrounding rural area, both in terms of physical area and population. I also examine rural-urban differentials in land...