Working Papers
WP1268Title:Intergenerational Mobility and its Decomposition: Growth Effect and Structural EffectAuthor:Li  Renyu,  Chen  Xirong  and  Gan  Li   View Count:50
       Abstract: This paper explores the sources and determinants of intergenerational educational mobility for whom born between 1930 and 1990 in China. We decompose observed educational movement across generations into growth mobility, exchange mobility, and disperse mobility by employing data from the 2013 China Household Finance Survey and 2012 China Family Panel Servey. Results revealing intergenerational mo
WP1267Title:Quantitative Easing, Commodity Prices and Imported inflation——Theoretical and Empirical Analysis Based on Micro-PriceAuthor:Sun  Puyang,Zhang  Jingjia  and  Lan  Jinhai   View Count:34
       Abstract:In this paper, by constructing a model of "asset allocation crowding and squeezing" with quantitative easing policy, we effectively explains that the quantitative easing (QE) policy of the United States affects the domestic prices of commodities by influencing the investment market, which may finally lead to the pressure of imported inflation. Based on the theoretical assumptions, this paper first
WP1266Title:Labor Supply, Job Turnover and Medical InsuranceAuthor:Shao  Quanquan  and  Bai  Longfei   View Count:46
       Abstract:This paper extends the labor supply model and job turnover model by introducing the health risks and medical insurance. Through the simulation of the theoretical model based on dynamic programming approach, this paper discusses the impact of health risk on labor supply decisions and job turnover decisions, as well as the role of medical insurance. The simulation shows that: the medical insurance d
WP1265Title:The Demand Curve of Genetically Modified Foods——decision making in ambiguous stateAuthor:Yao  Dongmin  and  Zhang  Pengyuan   View Count:61
       Abstract:According to the ambiguity of consumers in choosing genetically modified foods(GMF), traditional research methods based on VNM no longer apply. In order to find out reason of consumers’ behavior as well as the concept of elastic theory, this article tries to solve this problem by the method of CEU model, we compared the traditional OEU model and CEU model and find the differences in income thresho
WP1264Title:A Comparative Study of China’s Monetary Policy Rules——On the Perspective of Three Rules Based on DSGE ModelAuthor:Wang  Xi,  Wang  Ling,  Peng  Yulei,  and  Song  Xiaofei   View Count:80
       Abstract:Either pure interest-rate rule or quantity rule fails to reflect the practical implement of China’s monetary policies. On this account, the paper constructs a mixed monetary policy rule with inclusiveness and discretion. By developing a New Keynesian DEGE model, firstly, we use calibration and Bayesian method to separately estimate the parameters in the model under the interest-rate rule, quantity
WP1263Title:Income Inequality, Credit Constraints and Social Status Seeking of Households in Rural ChinaAuthor:Hang  Bin  and  Yan  Xinhua   View Count:58
       Abstract:The article makes a theoretical and empirical analysis of the relationship between income inequality and households consumption in rural China by creating a new theoretical framework based on consumption externality and credit constraints. The analysis is conducted through tracing the micro survey data in 2010 and 2014, in which endurable consumption goods are assumed as positional goods and unend
WP1262Title:Chinese Household Asset Allocation and Heterogeneous Agents Consumption BehaviorAuthor:Zang  Xuheng  and  Zhang  Xin   View Count:113
       Abstract:In this paper, we apply the empirical methodology of two-asset model to identify the heterogeneous agents and study the effect of household asset structure on the marginal propensity to consume out of transitory income changes and precautionary savings empirically based on CFPS data. We find that compared with those with sufficient liquid assets, the consumers with liquidity constraint have a high
WP1261Title:Housing Price, Migration Friction and the City-Size Distribution in China——Theory Model and Structural EstimationAuthor:Liu  Xiuyan  and  Li  Songlin   View Count:91
       Abstract:What are the key factors of the city-size distribution? Why is urban system in China so even that primacy index of a city cluster is usually lower? In order to answer these questions, this paper constructs theoretical model involving with migration decisions of heterogeneous individuals and also endogenous housing prices. We attribute the existing city-size distribution to four dimensions includin
WP1260Title:House Price and "Labor Shortage" of Chinese ManufactureAuthor:Tong  Jiadong;  Liu  Zhuqing   View Count:88
       Abstract: Using the data of 286 Chinese cities, the paper examines the effects of house price increase on Chinese manufacture employment, in order to explain the reason of "labor shortage" in Chinese manufacture with a new perspective. The basic results show increasing house price significantly rises the labor demand in construction industry and "squeeze out" the labor in manufacture, which results in stru