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This paper provides a justification for hedonic price indices and details the properties of hedonic price functions. The analysis is done in a market setting in which a finite number of goods, each defined by its characteristics, interact. We note that proper hedonic indices can be constructed...
Persistent link: https://www.econbiz.de/10013323453
This paper examines the optimal location-based redistribution policy and shows that adjustment for local price levels is occasionally optimal, but never for the reasons suggested by the popular press. First, the existence of a spatial equilibrium suggests that utility levels will be equalized...
Persistent link: https://www.econbiz.de/10013232727
The federal income tax and major welfare programs do not take into account significant cost-of-living variations among regions. This article considers what adjustments might be appropriate in light of the distributive purposes of tax and welfare systems and concerns about the efficiency of the...
Persistent link: https://www.econbiz.de/10013242909
We provide the first multi-city, constant quality land price index for 35 major markets in China. While there is … correlated with land supply volume.We also investigate the quality of the two most prominent house price indexes in China, and … markets in China. Repeat sales indexes have become standard in many countries, but they are not as useful in emerging markets …
Persistent link: https://www.econbiz.de/10013100362
With the decline of the traditional hukou system, migrants in China have a broad set of cities to choose from. Within …
Persistent link: https://www.econbiz.de/10013093510
We examine the price and variety of products at the barcode level in cities within China and the United States. In both … countries, there is a greater variety of products in larger cities. But in China, unlike the United States, the prices of … follows that the cost of living for grocery-store products in China is lower in larger cities. We further compare the cost …
Persistent link: https://www.econbiz.de/10012963166
We document and discuss the implications of a sharp increase in the regional dispersion of skill premia in China in … of China's integration into the global economy plays a significant and regionally concentrated role in the second period …
Persistent link: https://www.econbiz.de/10013135404
/capita, shares in world trade and market capitalization attributable both jointly and single to China, India, and Brazil (the three … time. In contrast the North‐China gap falls from 57.2 to 13.1 between 1990 and 2009, and India from 70.4 to 38.1 using … market exchange rates and from 23.4 to 5.5 for China and from 20.7 to 11.4 for India using PPP rates. We calculate the …
Persistent link: https://www.econbiz.de/10013113158
development zones on firm level TFP in China. The difference-in-difference estimator shows that on average, loss of development … three major seaports in China, closure of zones reduced firm-level TFP by 9.62%, whereas closure of zones farther away did … locational heterogeneity. We conclude that China's strategy of using development zones as a place-based policy to encourage …
Persistent link: https://www.econbiz.de/10012864800
China's environmental regulators have sought to reduce the Yangtze River's water pollution. We document that this …
Persistent link: https://www.econbiz.de/10012985199