We estimate an equilibrium model of residential sorting with endogenous traffic congestion to evaluate the efficiency and equity impacts of urban transportation policies. Leveraging fine-scale data on household travel diaries and housing transactions with home and work locations in Beijing, we...

The decade from 2010 to 2019 marked a significant turning point in China's history of environmental regulation and pollution. This article describes the recent trends in air and water quality, with a focus on the five years since China declared a "war on pollution" in 2014. It summarizes the...

Attribute-based subsidies (ABS) are commonly used to promote the diffusion of energy-efficient products, whose manufacturers often wield significant market power. We develop a theoretical framework for the optimal design of ABS to account for endogenous product attributes, environmental...

The social costs of pollution and climate change hinge critically on humans' ability to adapt. Based on transaction records from the world's largest payment network, this research compiles daily travel flows and documents that China's rapid expansion of high-speed railways (HSR) facilitates the...

The emissions reductions from the adoption of a new transportation technology depend on the emissions from the new technology relative to those from the displaced technology. We evaluate the emissions reductions from electric vehicles (EVs) by identifying which vehicles would have been purchased...

During 2013-2014, China launched a nationwide, real-time air quality monitoring and disclosure program, a watershed moment in the history of its environmental regulations. We present the first empirical analysis of this natural experiment by exploiting its staggered implementation across cities....

While there is a vast body of research on the benefits of FDI in developing countries, whether and how the form of FDI matters have received limited attention. In this paper, we study the impact of FDI via quid pro quo (technology for market access) on facilitating knowledge spillover and...

The efficiency of resource allocation is often analyzed in static frameworks with a focus on the cross-sectional heterogeneity in the willingness to pay among users. When the resource is durable in nature, the temporal heterogeneity could be important in assessing the efficiency properties of...

Exploiting a rich data set of passenger vehicle registrations in twenty U.S. metropolitan statistical areas from 1997 to 2005, we examine the effects of gasoline prices on the automotive fleet's composition. We find that high gasoline prices affect fleet fuel economy through two channels: (1)...

Developing and fast-growing economies have some of the worse air pollution in the world, but there is a lack of systematic evidence on the health especially morbidity impact of air pollution in these countries. Based on the universe of credit and debit card transactions in China from 2013 to...