Over the past thirty years, the income gap between capital and labour has widened, a shift accompanied by an increase in dominant firms’ market power. To understand the underlying causes, our study integrates imperfect competition in both product and labour markets, revealing how different...

Developing an inclusive carbon pricing framework is imperative to achieving carbon neutrality in China. Drawing upon the “dual carbon” target, this study elucidates the characteristics and effects of current Chinese carbon pricing policies and proposes an inclusive framework comprising...

This study constructs a competitive school district housing market model, ascertains the impact of reform in public school assignment rules on families’ school choice behavior, and investigates the impact of a multi-school dicing reform conducted in Beijing’s Haidian District in April 2018....

In imperfectly competitive markets, a producer-employer firm can be considered monopolist-monopsonist, facing downward sloping residual demand for product and upward sloping residual supply for labour. Firms can thereby exercise both product price markup and wage markdown powers. To study market...

China tries to solve the sky-high price of school district housing, which is an inevitable problem in the process of urbanization, through the reform of educational resource allocation. To assess the policy impact of multi-school zoning, this paper constructs a school district housing market...

We study subsidy policies for research programs when firms have private information about the likelihood of project viability, but the government cannot form a unique prior about this likelihood. When the shadow cost of public funds is zero, first-best welfare can be attained as a (belief-free)...