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Cost-benefit analysis of the Hukou reform: Simulation evidence from a theoretical labor market model 户籍制度改革的成本效益分析:来自劳动力市场理论模型的模拟证据
China Economic Quarterly International Pub Date : 2021-06-01 DOI: 10.1016/j.ceqi.2021.03.001
Yang Song
{"title":"Cost-benefit analysis of the Hukou reform: Simulation evidence from a theoretical labor market model","authors":"Yang Song","doi":"10.1016/j.ceqi.2021.03.001","DOIUrl":"https://doi.org/10.1016/j.ceqi.2021.03.001","url":null,"abstract":"<div><p>We built a labor market model in China to incorporate key features of the current Chinese Hukou system (a system of household registration). Simulation analyses showed that when the Hukou system was fully reformed or abolished, more older workers would migrate to cities, leading to a rise in national GDP and a large reduction in nation-wide income inequality. Moreover, we found that the cost of the policy could be offset by the increase in national GDP. That is to say, the budget concern should not be the obstacle for the Hukou reform. In order to reduce inequality, the government should promote more fundamental Hukou reforms.</p></div>","PeriodicalId":100238,"journal":{"name":"China Economic Quarterly International","volume":"1 2","pages":"Pages 109-119"},"PeriodicalIF":0.0,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.ceqi.2021.03.001","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"92111174","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 4
Do discretion criteria for patent administrative law enforcement encourage innovation among firms? 专利行政执法的自由裁量标准是否鼓励企业创新?
China Economic Quarterly International Pub Date : 2021-06-01 DOI: 10.1016/j.ceqi.2021.05.001
Hanxin Lin , Cheryl Xiaoning Long
{"title":"Do discretion criteria for patent administrative law enforcement encourage innovation among firms?","authors":"Hanxin Lin ,&nbsp;Cheryl Xiaoning Long","doi":"10.1016/j.ceqi.2021.05.001","DOIUrl":"10.1016/j.ceqi.2021.05.001","url":null,"abstract":"<div><p>The management by administrative authorities of law violations represents one of the instruments for enforcing laws in China, the other way is lawsuit. The law allows administrative discretion to achieve efficiency but may lead to unfair law enforcement. Governments’ establishing patent administrative discretion criteria can deter unfair law enforcement by guiding administrators to determine administrative penalties. As such, a quasi-experimental approach testing the discretion criteria established by provincial patent administrative authorities was used in the current study to evaluate the impact of discretion criteria on law enforcement and innovation among firms. The empirical evidence shows that patent administrative discretion criteria increase the number of patent administrative law enforcement cases and encourage firms to apply for more patents, and this impact is larger for firms in industries where the new product market is broader, patent license fees are higher, patent rights easier to be infringed upon, and R&amp;D duration is lengthier.</p></div>","PeriodicalId":100238,"journal":{"name":"China Economic Quarterly International","volume":"1 2","pages":"Pages 160-175"},"PeriodicalIF":0.0,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.ceqi.2021.05.001","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"96428751","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 7
Winning at the starting line: The primary school premium and housing prices in Beijing 起跑线上的赢家:北京的小学溢价和房价
China Economic Quarterly International Pub Date : 2021-03-01 DOI: 10.1016/j.ceqi.2020.12.001
Xuan Han , Yan Shen , Bo Zhao
{"title":"Winning at the starting line: The primary school premium and housing prices in Beijing","authors":"Xuan Han ,&nbsp;Yan Shen ,&nbsp;Bo Zhao","doi":"10.1016/j.ceqi.2020.12.001","DOIUrl":"10.1016/j.ceqi.2020.12.001","url":null,"abstract":"<div><p>Using housing transaction data from Beijing during 2013–16, this paper evaluates the education premium for good primary schools and its changes. We use the regression discontinuity method to estimate the average education premium and its variation year by year. We take advantage of differences in the right to school enrollment between homeowners and renters to determine the discontinuity boundaries. Furthermore, the difference-in-differences method is applied to investigate the changes in housing prices triggered by changes in the school attendance zones. We find that the average education premium for the top 59 high-quality primary schools in Beijing was about 11% and increased each year. During the sample period, the increase accumulated to more than 50%. The changes in the school attendance zones led to a significant 1.5%–3.5% rise in housing prices. This shows that it would be better to increase the supply of quality education rather than only guiding the demand for it to promote educational equity.</p></div>","PeriodicalId":100238,"journal":{"name":"China Economic Quarterly International","volume":"1 1","pages":"Pages 29-42"},"PeriodicalIF":0.0,"publicationDate":"2021-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.ceqi.2020.12.001","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"95499830","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 8
The heterogeneous growth effects of the business environment: Firm-level evidence for a global sample of cities 商业环境的异质性增长效应:全球城市样本的企业层面证据
China Economic Quarterly International Pub Date : 2021-03-01 DOI: 10.1016/j.ceqi.2020.09.001
José-Daniel Reyes , Mark Roberts , Lixin Colin Xu
{"title":"The heterogeneous growth effects of the business environment: Firm-level evidence for a global sample of cities","authors":"José-Daniel Reyes ,&nbsp;Mark Roberts ,&nbsp;Lixin Colin Xu","doi":"10.1016/j.ceqi.2020.09.001","DOIUrl":"https://doi.org/10.1016/j.ceqi.2020.09.001","url":null,"abstract":"<div><p>Using firm-level data covering 709 cities in 128 countries, we examine the role of a comprehensive list of business and institutional environment variables at the sub-national level in explaining firm employment and productivity growth. We find basic protection (with corruption as an element), access to finance and infrastructure, and the existence of a strong agglomeration environment to be critically important. By contrast, human capital and a list of refined business environment variables related to labor regulations, tax, and land access are unimportant. We also find that the effects of the business environment vary according to firm size, age, and the host country’s level of development.</p></div>","PeriodicalId":100238,"journal":{"name":"China Economic Quarterly International","volume":"1 1","pages":"Pages 15-28"},"PeriodicalIF":0.0,"publicationDate":"2021-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.ceqi.2020.09.001","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136401120","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Firm debt and labor share: The distribution effect of de-leverage 企业债务与劳动份额:去杠杆的分配效应
China Economic Quarterly International Pub Date : 2021-03-01 DOI: 10.1016/j.ceqi.2021.01.003
Feng Dong , Guangjun Shen , Yang Jiao
{"title":"Firm debt and labor share: The distribution effect of de-leverage","authors":"Feng Dong ,&nbsp;Guangjun Shen ,&nbsp;Yang Jiao","doi":"10.1016/j.ceqi.2021.01.003","DOIUrl":"10.1016/j.ceqi.2021.01.003","url":null,"abstract":"<div><p>China is now facing the challenges of high leverage. Our study has examined the role of firms’ rising debt in explaining the decrease in labor share in recent years. We developed a model to show that firms may strategically use debt to increase their bargaining power, resulting in lower labor share. Empirical evidence shows the labor share is robustly negatively related to debt per worker, and the negative correlation varies across ownership, labor union and maturity of debt. The findings imply that the de-leveraging policy may help alleviate the worsening income inequality.</p></div>","PeriodicalId":100238,"journal":{"name":"China Economic Quarterly International","volume":"1 1","pages":"Pages 59-71"},"PeriodicalIF":0.0,"publicationDate":"2021-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.ceqi.2021.01.003","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"104056358","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 4
The poverty of monetarism 货币主义的贫穷
China Economic Quarterly International Pub Date : 2021-03-01 DOI: 10.1016/j.ceqi.2020.11.002
Patrick Bolton
{"title":"The poverty of monetarism","authors":"Patrick Bolton","doi":"10.1016/j.ceqi.2020.11.002","DOIUrl":"https://doi.org/10.1016/j.ceqi.2020.11.002","url":null,"abstract":"<div><p>This paper provides a critical discussion of monetarism and the difficulties of understanding macroeconomic developments after the publication of Friedman and Schwartz’s classic 1965 article through a monetarist lens, especially for the period following the great financial crisis. This paper proposes three research directions for broadening the classical monetarist framework and provides new foundations for monetary economics.</p></div>","PeriodicalId":100238,"journal":{"name":"China Economic Quarterly International","volume":"1 1","pages":"Pages 1-14"},"PeriodicalIF":0.0,"publicationDate":"2021-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.ceqi.2020.11.002","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136401119","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Credit constraint and firm’s export mode choice 信用约束与企业出口模式选择
China Economic Quarterly International Pub Date : 2021-03-01 DOI: 10.1016/j.ceqi.2021.01.002
Zhiyuan Li , Haichun Ye
{"title":"Credit constraint and firm’s export mode choice","authors":"Zhiyuan Li ,&nbsp;Haichun Ye","doi":"10.1016/j.ceqi.2021.01.002","DOIUrl":"10.1016/j.ceqi.2021.01.002","url":null,"abstract":"<div><p>How do firms’ credit constraint affect their export mode choices between <em>direct</em> exporting and <em>indirect</em> exporting through intermediaries? This study explores this issue in a heterogeneous firm model where firms differ not only in productivity but also in credit levels. Our model predicts that more productive and financially less constrained firms tend to choose the more advanced export mode and that for the cutoff firms, there is an overall inverse relation between credit and productivity with diminishing marginal rate of substitution. These theoretical predictions are borne out in a large cross-country firm-level dataset over the period 2002–2012.</p></div>","PeriodicalId":100238,"journal":{"name":"China Economic Quarterly International","volume":"1 1","pages":"Pages 43-58"},"PeriodicalIF":0.0,"publicationDate":"2021-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.ceqi.2021.01.002","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"102396988","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Political equality, coalition formation, and economic performance in autocracies 专制国家的政治平等、联盟形成和经济表现
China Economic Quarterly International Pub Date : 2021-03-01 DOI: 10.1016/j.ceqi.2020.11.001
Yang Yao
{"title":"Political equality, coalition formation, and economic performance in autocracies","authors":"Yang Yao","doi":"10.1016/j.ceqi.2020.11.001","DOIUrl":"https://doi.org/10.1016/j.ceqi.2020.11.001","url":null,"abstract":"<div><p>Autocracies have diverse records of economic growth. This paper provides a theory of endogenous coalition formation to explain economic performance in autocracy. The nature of the ruling coalition that the autocrat relies on to rule the society and extract rents affects the degree of inclusiveness of the autocracy's political and economic institutions that ultimately determines economic performance. A stable ruling coalition has to be invasion-proof --- i.e., being able to resist invasion from outside --- and coalition-proof --- i.e., being able to prevent split from inside. In a political environment where side payments are allowed to buy political support, a ruling coalition is coalition-proof if and only if it satisfies Condition E, i.e., every pair of its member groups holds similar levels of political power relative to the power of any third group (including the autocrat). When more pairs of groups satisfy Condition E in a society, the ultimate ruling coalition becomes more inclusive and societal output is increased.</p></div>","PeriodicalId":100238,"journal":{"name":"China Economic Quarterly International","volume":"1 1","pages":"Pages 72-83"},"PeriodicalIF":0.0,"publicationDate":"2021-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.ceqi.2020.11.001","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136401118","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
Pride and prejudice: Different responses to migrant information among different identity groups 傲慢与偏见:不同身份群体对移民信息的不同反应
China Economic Quarterly International Pub Date : 2021-03-01 DOI: 10.1016/j.ceqi.2021.01.001
Ming Lu , Ziyang Yu , Qingyi Ji
{"title":"Pride and prejudice: Different responses to migrant information among different identity groups","authors":"Ming Lu ,&nbsp;Ziyang Yu ,&nbsp;Qingyi Ji","doi":"10.1016/j.ceqi.2021.01.001","DOIUrl":"10.1016/j.ceqi.2021.01.001","url":null,"abstract":"<div><p>Previous studies have examined how information intervention affects intergroup prejudice and conflict. On that basis, this study introduced psychological adjustment cost into a behavioral model for identity and individual attitude change. The model predicts that changes in attitude are related to an individual’s initial identity, and the same information can either change or reinforce initial attitudes. Then, we used a survey to explore whether information about migration could change the attitudes of Shanghai residents toward interregional migrants to their city. We found that after reading neutrally described information about the benefits of internal migration, the attitudes of non-native interviewees toward immigrants became more positive while those of native Shanghai residents became more negative. We also found that young, well-educated people developed more positive attitudes about immigrants after reading the information.</p></div>","PeriodicalId":100238,"journal":{"name":"China Economic Quarterly International","volume":"1 1","pages":"Pages 84-96"},"PeriodicalIF":0.0,"publicationDate":"2021-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.ceqi.2021.01.001","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"98953876","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
A Life-Cycle Model with Individual Volatility Dynamics 具有个体波动动力学的生命周期模型
China Economic Quarterly International Pub Date : 2020-12-22 DOI: 10.21144/eq1060402
Marios Karabarbounis
{"title":"A Life-Cycle Model with Individual Volatility Dynamics","authors":"Marios Karabarbounis","doi":"10.21144/eq1060402","DOIUrl":"https://doi.org/10.21144/eq1060402","url":null,"abstract":"A large literature has studied how the presence of uninsurable labor-income risk affects the patterns of savings and portfolio allocation over the life cycle. For example, workers in risky companies, occupations, or industries may have a larger incentive to accumulate wealth to insure against adverse events, such as unemployment, and to prepare for retirement. Moreover, they are likely to hold different investment portfolios, e.g., how much they invest in risky assets and how much of their investment is directed toward liquid versus illiquid accounts. In models with heterogeneous agents, income risk is usually represented by a probability distribution over income draws with a constant variance. Nonetheless, there is increasing evidence that labor-income risk is itself idiosyncratic. For example, Meghir and Pistaferri (2004) use income data from the Panel Study of Income Dynamics to show that there is strong support in favor of income dynamics with a time-varying volatility. Guvenen, Karahan, Ozkan, and Song (2015) show that an income process where variance switches stochastically between low and high regimes can match several higher-order of income moments including the high kurtosis of earnings in the U.S. data. Chang, Hong, Karabarbounis, Wang, and Zhang (2020) use administrative data from Statistics Norway to calibrate a life-cycle model with stochastic volatility in earnings and explore its implications for portfolio choice.","PeriodicalId":100238,"journal":{"name":"China Economic Quarterly International","volume":"50 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-12-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76445157","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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