The hypotheses of non-addiction, myopia and rational addiction are tested using annual, quarterly and monthly data. Changes in the prices of Japanese cigarettes can be viewed as exogenous from the point of view of consumer behaviour, because the Japanese government controls cigarette prices. The...

type="main" xml:id="twec12250-abs-0001" <title type="main">Abstract</title> <p>Using Phillips et al. (2012, ‘Testing for Multiple Bubbles’, Yale University) bubble test and the ratio of monthly housing price to rent in China, we cannot find that there were bubbles in the housing market for all provinces including urban...</p>

In this paper, we conduct a dynamic panel analysis of the determinants of the household saving rate in China using a life cycle model and panel data on Chinese provinces for the 1995-2004 period from China?s household survey. We find that China?s household saving rate has been high and rising...