Working Papers
WP1292Title:Globalization and Cultural Protection PolicyAuthor:Ku  Xuanzhao  and  Luo  Xiaoyi   View Count:67
       Abstract:A simple dynamic monopolistic competition model, which is based on the main assumption that today's consumers of cultural goods will be the producers of tomorrow's cultural goods, is built to figure out the likely effects of protection policy towards minor cultural goods in an era of globalization. Contrasting results are obtained. With continuing moderate protection policy, domestic creators in s
WP1291Title:Firm Heterogeneity, Trade Liberalization and Market DistortionAuthor:Mao  Haitao,Qian  Xuefeng  and  Zhang  Jie   View Count:62
       Abstract:In the absence of any policy intervention, the market imperfection can also result in distortion. Based on the demand structure of Behrens type, this paper studies the effect of trade liberalization on market distortions under the framework of firm heterogeneity. With comparative static analysis, it was found that trade liberalization (market expansion or declining trade costs) did not slow down t
WP1290Title:Heterogeneous Firms, Utilization Cost and FTA Utilization RateAuthor:Han  Jian,Yue  Wen  and  Liu  Shuo   View Count:49
       Abstract:Under the framework of Ulloa & Wagner(2013), this paper builds a theoretical model which contains firm heterogeneity to investigate the firm’s choice of FTA to export. It concludes that the utilization cost is an important factor to influence the firm’s choice and only the productive firms can use FTA to export. Based on China's firm-level data, the paper analyzes the determinants of export under
WP1289Title:“Irrational” Housing Demand——A Study based on the Dual Attributes of HouseAuthor:Gong  Gang,  Zhang  Lu  and  Wei  Xiye   View Count:98
       Abstract:In modern economics, a house is considered in two properties: one as a normal commodity, and the other as a financial asset. This paper studies the housing market based on dual properties. We construct a dynamic model with “heterogeneous expectations”. We find that the higher the growth rate of housing price, the larger is the demand for house. This is contrasted to the normal demand curve of a co
WP1289Title:Exchange Rate Stabilization: A Simple Interest-Subsidy Rule——Analysis on Dynamic Exchange Rate ModelAuthor:Liu  Yun,Xu  Zhiwei  and  Wang  Pengfei   View Count:72
       Abstract:Renminbi has depreciated continuously since the end of 2015, and the situation is getting severe under the pressure of public’s pessimistic expectation. How to stabilize the exchange rate has become one of the biggest challenges faced by the Chinese government in this “new normal” economy. This paper constructs a dynamic exchange rate model incorporated with capital control, trying to dig out the
WP1288Title:Demand-Induced Innovation——Evidence from the Chinese Household Appliance IndustryAuthor:LyuTie  and  Huang  Yana   View Count:83
       Abstract:Although the theory of Demand-induced Innovation has been widely accepted, there is little empirical research on the causality between consumer demand and enterprise innovation. This paper use Chinese Urban Household Income and Expenditure Survey to construct the market size of household appliance, and matched the market size with relevant sectors from China Annual Survey of Industrial Firms. We e
WP1287Title:Can Compulsory Education Law Improve Intergenerational Mobility?Author:Chen  Binkai,Zhang  Shujuan  and  Shen  Guangjun   View Count:75
       Abstract:Social mobility affects national stability and long-term growth; equality of opportunity is crucial for sound development of society. Using data from the Chinese Household Income Project Survey 2013 and National Population Survey 2005, this paper employs the temporal and geographical variations in the Compulsory Education Law (CEL) implementation as an exogenous shock to identify how education pol
WP1286Title:The Global Value Chains and Their Extension in China: Regional Interactions and Value-added GainsAuthor:Pan  Wenqing  and  Li  Genqiang   View Count:124
       Abstract:Based on the Trans-national Inter-regional Input Output Tables including trade information of different regions of China, this paper studies the supply-demand roles of China's domestic regions and value-added interactions among China and other Asia-Pacific economies during the extension process of global value chains into China's domestic regions from the perspectives of both demand and supply of
WP1286Title:Do Related Transactions Stimulate or Inhibit the Enterprise Innovation?Author:Li  Zengfu,LiXu  and  Huang  Dongxiao   View Count:52
       Abstract:On the one hand, related transactions are prevailing in Chinese enterprises. On the other hand, lacking of core technology innovation is a vital problem for Chinese enterprises. Consequently, does this phenomenon affects the enterprise's technological innovation? Previous study did not involve this. Analyzing from the theory, we think the related transactions can stimulate the enterprises innovati