While the relationship among land price, transportation cost, and urban sprawl under the condition of local governments monopolizing land supply has been rarely discussed in the literature, this paper addresses this gap by hypothesizing based on the monocentric city model. The hypothesis...

While aggregate earnings should affect aggregate stock returns, standard portfolio theory predicts that the cross-sectional dispersion in firm-level earnings per se would not affect aggregate stock returns. Nonetheless, this paper documents that cross-sectional earnings dispersion is positively...

While aggregate earnings should affect aggregate stock returns, standard portfolio theory predicts that the cross-sectional dispersion in firm-level earnings would not affect aggregate stock returns. Nonetheless, this paper demonstrates a surprisingly robust relation between cross-sectional...

Using China Family Panel Studies (CFPS) data from 2010 to 2018, this paper employs a staggered difference-in-differences (DID) approach to unveil that the entry of bike-sharing significantly boosts per capita household expenditure by 3.9%-6.8%, along with an increase of 3.8%-4.9% in dining-out...

The prospect for electric vehicles (EVs) as a climate change solution hinges on their widespread adoption across political lines. This paper uses county-level data to show that from 2012-2023, about half of all new EV registrations in the U.S. went to the 10% most Democratic counties. This...