Budget deficit has been a common fiscal pressure facing Chinese cities since the 1994 fiscal reform. Meanwhile, land lease sales have become a signi?cant o¤-budgetary revenue to local governments since 2003. This paper investigates whether ?nancing budget deficit is an important driving force...

It has been shown that the details of microscopic rules in structured populations can have a crucial impact on the ultimate outcome in evolutionary games. So alternative formulations of strategies and their revision processes exploring how strategies are actually adopted and spread within the...

We used GC/MS assisted with elemental analysis to compare the organic compounds in oil, water and gas phases before and after the reaction, and finally deduced the mechanism of the viscosity reduction of heavy oil through catalytic aquathermolysis. The results indicated that the catalyst could...

At political boundaries, local leaders often have weak incentives to reduce polluting activity because the social costs are borne by downstream neighbors. This paper exploits a natural experiment set in China in which the central government changed the local political promotion criteria and...

A proportional hazard model is employed to exploit micro relationships between household housing price expectation and probability to sell (the latter is inversely related to the property owning spells). The primary data source is from 14 yearsí Singapore condominium transaction data. A...

In this paper, a dynamic stock flow model is modified and applied to the Singapore private housing market. Two empirical models are then constructed, which offer an explanation for the dynamic patterns of both real private housing prices and new housing construction. In the long run, movements...

ERES:conference

A new housing choice forecasting model is developed here to answer a practical question: how to forecast housing demand at a disaggregate level. Being different from the previous housing choice models, this model is derived from housing sub-market structure based on a random utility approach....