An ideal scheme of intergovernmental transfer should be determined by equalization and efficiency with taking account of fiscal effort of local governments. In this regard, this paper provides a comprehensive review of Chinese transfer system since the decentralized taxation system (DTS)...

We present estimates of the term structure of inflation expectations, derived from an affine model of real and nominal yield curves. The model features stochastic covariation of inflation with the real pricing kernel, enabling us to extract a time-varying inflation risk premium. We fit the model...

Over the past two decades, financial market crises with similar features have occurred in different regions of the world. Unstable cross-market linkages during a crisis are referred to asfinancial contagion. We simulate crisis transmission in the context of a model of market participants...

Affordable housing has been built in many countries all over the world. Yet the term ëaffordable housingí is interpreted and defined very differently despite a shared focus on housing the less well-off population group. In China, ëaffordable housingí was firstly introduced by the central...

Cycle theory is one of the basic human observations of the natural world as well as in human societies. It is defined by the Dictionary of Theories as íevents, economics and political systems move through cycles similar to the natural life-cycles of living beingsî (Bothamley 2002, p.133)....

This paper focuses on the theory of economic transformation, applied to property market emergence and comparing different transitional economies. Past experience of the Chinese and East European markets has major differences. This paper reviews the Chinese economic transition with emphasis...

Studio teaching has formed the major mode of teaching and learning activities in Built Environment schools around the world ñ especially for the design disciplines of architecture, landscape architecture and urban design. This study investigates studio teaching for a final year undergraduate...

This paper firstly introduced overall condition of agricultural and rural economic development in Jiangsu Province, and analyzed restrictive factors and bottleneck in the process of new socialist countryside construction from policy, fund and understanding. There are many problems in the process...

We describe all random sets that satisfy the radial conformal restriction property, therefore providing the analogue in the radial case of results of Lawler, Schramm and Werner in the chordal case.