prices of East Asian economies including China, Japan, Hong Kong, South Korea, and Taiwan. We find significant and positive …

In 2005-08, over a dozen put warrants traded in China went so deep out of the money that they were certain to expire …

China's gradualistic approach allowed the government to learn how the economy reacts to small policy changes, and to …

Since the 1990s, China's real estate market has experienced a dramatic and long-lasting boom across China. This boom … into a gigantic housing bubble, which might eventually burst and damage China's financial system and economy. Motivated by … this concern, this paper reviews the historical development of China's real estate market, describes the real estate boom …

We construct housing price indices for 120 major cities in China in 2003-2013 based on sequential sales of new homes … trigger an imminent financial crisis in China, even though it may crash with a sudden stop in the Chinese economy and act as …

Motivated by growing concerns about the risks and instability of China's financial system, this article reviews several … commonly perceived financial risks and discusses their roots in China's politico-economic institutions. We emphasize the need … to evaluate these risks within China's unique economic and financial systems, in which the state and non-state sectors …

China's economic model involves active government intervention in financial markets. We develop a theoretical framework …

We document issuance overpricing of corporate debt securities in China, which contrasts with underpricing of equity and … debt securities in Western countries. The phenomenon in China is robust across subsamples of issuances with different … process in China’s market for corporate debt securities. The average overpricing dropped from 7.44 basis points to 2.41 basis …