A Bridge on Economic Issues between China and the World
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Environmental Externalities, Product Attributes, and Market Power: Implications for Government Subsidies
Panle Jia Barwick, Hyuk-soo Kwon, Shanjun Li, Sep 18, 2024The article discusses how attribute-based subsidy (ABS) designs lead to higher product quality and more effectively mitigate market power than uniform subsidies, albeit with a modest environmental cost.
Growing Apart: Declining Within- and Across-Village Risk Sharing in Rural China
Orazio Attanasio, Costas Meghir, Corina Mommaerts, and Yu Zheng , May 25, 2022China has embarked on an ambitious campaign to close income gaps, address regional inequality and unfair social welfare provision, and make solid progress toward common prosperity by 2035. This marks a shift in focus from overall growth to promoting equitable and balanced growth.
Pricing the Priceless: The Financing Cost of Biodiversity Conservation
Fukang Chen, Minhao Chen, Lin William Cong, Haoyu Gao, Jacopo Ponticelli, Feb 26, 2025This study investigates the pricing of financial risks associated with biodiversity conservation, with a particular focus on the Green Shield Action, a major regulatory initiative launched in China in 2017 to enforce biodiversity preservation rules in national nature reserves. While the initiative improved biodiversity, it also significantly increased bond yields for municipalities that are home to these reserves, effectively raising the general cost of public capital. These effects were primarily driven by heightened default risks plausibly caused by transition costs from shutting down illegal economic activities within the reserves and additional public spending on biodiversity conservation, even when local governments raise the same amount of money. Furthermore, the study reveals that the biological benefits of these conservation policies were not adequately recognized or impounded into the prices by the capital markets.
Cash in the Darkness
Haohan Ren, Kemin Wang, Bohui Zhang, Fan Zhang, Jan 12, 2024Relying on a large dataset on cash withdrawals of over 165 million bank cards from China, we find a higher ratio of cash withdrawals late at night is associated with criminal activity.
Sex and the City: Demographics, Spatial Sorting, and the Marriage Market
Min Fang, Zibin Huang, Yushi Wang, Yu Alan Yang, Apr 28, 2026China's falling marriage rate reflects a fundamental spatial mismatch: as highly educated women sort into big cities with larger service sectors and less educated men concentrate in poorer regions, persistent hypergamous norms leave both groups without suitable local partners.
