Working Papers-Peking University HSBC Business School(PHBS)

Cash-in-Advance framework against the Quantity Theory of Money

Author(s)

This article revisits the Lucas illustration of the Quantity Theory of Money (QTM) and investigates whether it holds in the US monetary market

Monetary Uncertainty and Default

Author(s)

We investigate the effects of monetary uncertainty on the aggregate economy, especially default

Income Tax Evasion and Optimal Income Taxation

Author(s)

This paper characterizes an optimal nonlinear income tax that incorporates individualsdecisions regarding tax evasion and labor supply and an optimal rate of tax enforcement when implementing tax code is costly

Borrowing from the Future: 401(k) Plan Loans and Loan Defaults

Author(s)

Most active 401(k) participants have the option of borrowing from their retirement accounts, and many people - 40%- do so over a five-year period

Competition in Multi-Echelon Distributive Supply Chains with Linear Demand

Author(s)

We study competition in multi-echelon supply chains with a distributive structure

Vertical FDI and Exchange Rate in a Two-country Model

Author(s)

It has long been observed that the change in exchange rate of a country is positively correlated with Foreign Direct Investment (FDI) inflow into its border

The Road to Green Transition in China

Author(s)

China s reform and opening-up drive has catalyzed a series of transformations in society, economics and politics

Cash-in-Advance framework against the Quantity Theory of Money

Monetary Uncertainty and Default

Income Tax Evasion and Optimal Income Taxation

Borrowing from the Future: 401(k) Plan Loans and Loan Defaults

Competition in Multi-Echelon Distributive Supply Chains with Linear Demand

Vertical FDI and Exchange Rate in a Two-country Model

The Road to Green Transition in China

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