Environmental Activism in the Platform Society: Spatial Agency in Digital Maps
Abstract: Digital maps structure how we understand and interact with space while simultaneously affording agency and the potential for an alternative use of space. This article investigates how digital maps exercise data and spatial agency. Our empirical object is the environmental mobile mapping application water refill map (WRM, Hong-Te/Fengcha Action奉茶行動) in Taiwan. Drawing on the walk-through ...
Jing Meng, Yu-Peng Lin*, Hui-Ju Tsai
ARTICLE | New Media & Society | 2024、26、12：7058-7080
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Guilty by Political Association: The Impact of Political Scandals on Connected Firms
Abstract: Over the period 1992–2018, we investigate the economic impact of scandal-tainted congresspersons on politically connected firms. Following the first media report of a scandal, firms connected to the scandal-tainted congressperson experience a relative loss in market value. The loss manifests through both a reputational spillover and a reduced effectiveness of the congressperson in granting ...
April Knill, Baixiao Liu*, John J. McConnell, Cayman Seagraves
ARTICLE | Journal of Law & Economics | 2024、67、4
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Asset-Market Sentiments and Business-cycle Fluctuations
Abstract: We present a tractable model that accommodates asset-market sentiment in a standard Dynamic Stochastic General Equilibrium (DSGE) setting, allowing us to quantitatively evaluate sentiment-driven macroeconomic fluctuations. In our model, changes in households' perceived uncertainty about housing prices lead to self-fulfilling fluctuations in housing prices, which then impact investment and ...
Xuewen Liu, Pengfei Wang, Sichuang Xu*
ARTICLE | International Economic Review | 2024、65、4：1795-1819
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China’s Commuting-Based Metropolitan Areas
Abstract: Using commuting flows derived from cellphone location data at fine geographical levels, this paper presents the first delineation of China’s commuting-based metropolitan areas (MAs). The size distribution of those MAs follows a power law, with larger MAs hosting more skilled workers, more productive firms, and offering higher wage premiums. China’s commuting-based MAs exhibit a few notable ...
Ting Chen, Yizhen Gu, Ben Zou*
ARTICLE | Journal of Urban Economics | 2024、144、103715
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Politics and Entry Deterrence: Evidence from China's Industrial Land Market
Abstract: This paper examines one million land transactions and firm census data sets to determine the effect of market concentration on entry deterrence in China from 2006 to 2013. We find that a one standard deviation increase in the Herfindahl–Hirschman Index leads to a one standard deviation decrease in local government-designated industrial land sales to nonlocal firms and to a 2.9 standard deviation ...
Chunyang Wang*
ARTICLE | Journal of Economics & Management Strategy | 2024、33、3：686-705
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Estimating Life-Cycle Income Processes Including Means-Tested Transfers
Abstract: This paper undertakes a Monte Carlo experiment to evaluate whether the canonical “persistent-transitory” model of income can effectively measure means-tested government transfer policies. First, I show that means-tested transfers (modelled as an income floor) are not well represented by a stationary stochastic process for income with the persistent-transitory structure, since means testing ...
David Lander*
ARTICLE | Economics Letters | 2024、242
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Home Location Choices and the Gender Commute Gap
Abstract: Using administrative records of home mortgages in Beijing, we show that dual-income households systematically choose to buy homes that are closer to the wife’s workplace. The wife’s commute from the newly purchased home is on average 11 percent shorter by distance than the husband’s. We estimate a discrete home location choice model and find that households derive substantially larger ...
Yizhen Gu*, Naijia Guo, Jing Wu, Ben Zou
ARTICLE | Journal of Human Resources | 2024、59、41
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Lease-Adjusted Productivity Measurement
Abstract: We document that leased capital constitutes about 30% of the total productive physical assets used by US public firms. We develop an analytical framework to demonstrate how the neglect of leases leads to an overestimation of productivity. This overestimation can be decomposed into two distinct channels: one arises from the mismeasured factor share, and the other from the omitted-leased-capital ...
Weiwei Hu, Kai Li*, Yiming Xu
ARTICLE | Journal of Banking & Finance | 2024、164
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Leave-One-Out Least Squares Monte Carlo Algorithm for Pricing Bermudan Options
Abstract: The least squares Monte Carlo (LSM) algorithm proposed by Longstaff and Schwartz (2001) is widely used for pricing Bermudan options. The LSM estimator contains undesirable look-ahead bias, and the conventional technique of avoiding it requires additional simulation paths. We present the leave-one-out LSM (LOOLSM) algorithm to eliminate look-ahead bias without doubling simulations. We also ...
Jeechul Woo, Chenru Liu, Jaehyuk Choi
ARTICLE | Journal of Futures Markets | 2024、44：1404–1428
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