This study provides a comprehensive investigation on the mechanisms of risk sharing among China's provinces over the period 1995-2009. Using three empirical techniques, we found that, first, the extent of risk sharing attained by the provinces is relatively limited, and the financial...

Using data on mobile phone handset sales from a single retail store, we examine the impact of different retail responsibility designations and vertical contracts on seller service provision, firm profitability, and social welfare. During our sample, this store switched from retailer-managed...

Door-to-Door service of Pickup and Delivery of Customers to the Airport (D2PDCA) is a new service provided by certain Airline Ticket Sales Agencies (ATSAs) in China. This new service provides an attractive alternative way by picking up customer at this/her specified position and at any time...

Biodiesel from jatropha has been considered as a promising alternative to fossil fuels for some time. Consequently, China started promoting jatropha as one of the options to meet its ever-increasing energy consumption, and the Chinese biodiesel industry also gained interest. However, the...

This paper proposes a robustification of the test statistic of Aït-Sahalia and Jacod (2009b) for the presence of market microstructure noise in high frequency data, based on the pre-averaging method of Jacod et al. (2010). We show that the robustified statistic restores the test’s...

China has been building approximately 1 GW of new coal-fired power plant per week since 2005. Power plants now in construction may continue to operate until 2040. “CCS (Carbon Capture and Storage) Ready” enables and eases the subsequent retrofitting of a plant to be able to capture carbon...

Bus system performance varies from city to city, and experience clearly indicates that simply increasing the size of bus fleet cannot always improve bus system performance. It is therefore necessary to identify the major variables of bus system performance in different cities and implement a...

In this paper, we are concerned with modeling space–time inhomogeneities with the kinematic wave (LWR) model. The notion of space–time inhomogeneity refers to the fact that governing laws of traffic, essentially dictated by fundamental diagrams (FD), differ from each other in distinct...

Recently, energy production in China fell behind energy consumption. This poses important challenges for the rapidly growing Chinese economy. As a consequence, the causal relationship between energy consumption and GDP is an important empirical issue. This paper examines Granger causality...