In this paper we investigate the long-run and short-run relationship between housing investment and economic growth in China using the quarterly province-level panel data for the period 1999 q1 to 2007 q4. Recently developed econometric techniques for panel unit root testing and heterogeneous...

We use a structural application of the discrete choice model to investigate how the introduction of a joint audit policy would affect audit market structure and consumer surplus. We perform this policy evaluation by identifying demand fundamentals in a joint audit regime and applying them to a...

The paper investigates the relationship between changes in housing wealth, financial wealth and the trend movements of household consumption in urban China. By employing the VECM cointegration model, we demonstrate that there is a unique long-run cointegrating relationship between the household...