This paper investigates the association between real estate demand and the volatility of population changes. In a financial liberalized housing market, the housing mortgage loan implies insurance function to homeowners through the default option. Larger expected volatilities in the population...

Medical crowdfunding has seen rapid growth in recent years and it has become a popular channel for people needing financial help. However, there exists large heterogeneity in donations across cases and fundraisers face significant uncertainty in whether their crowdfunding campaigns can meet...

The Chinese economy is facing the impact of soaring energy prices, including the prices of coal, electricity and oil. The impacts of energy price fluctuations on general prices have a significant delayed effect. A novel price-temporal input-output (I-O) method is proposed to measure these...

Financial systemic risk – defined as the risk of collapse of an entire financial system vis-à-vis any one individual financial institution – is making inroads into academic research in the aftermath of the late 2000s Global Financial Crisis. We shed light on this new concept by...