Intergenerational educational mobility is characterized in two ways, the percentage of children who have more schooling than their parents, and the relative probability of the children attending university across their parents' schooling levels. We find that from 1991 to 2011, following a major...

The huge amount of land premium which the Hong Kong Government receives over the years from land sale and lease modifications is legendary. It gives rise to claims that the Hong Kong Government accumulates its fiscal reserve from the sale of land, and it should be able to fund a much higher...