"High and rising prices in Chinese housing markets have attracted global attention, as well as the interest of the Chinese government and its regulators. Housing markets look very risky based on the stylized facts we document. Price-to-rent ratios in Beijing and seven other large markets across...

We estimate the size of the likely unofficial income of a household with a government official by the difference between the income that would be necessary to explain their observed home purchase behavior and the official income. Using unique and comprehensive administrative records on the House...

We advance a novel hypothesis that China's recent anti-corruption campaign may have contributed to the recent resurgence of the state-owned enterprises (SOEs) in China as an unintended consequence. We explore the nexus between the anti-corruption campaign and the SOE resurgence by presenting...

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...