Using a unique survey data of Chinese households, we study the impact of house price growth and house price risk on entrepreneurship. House price risk, measured as the sensitivity of house price growth to local GDP growth, negatively impacts the entrepreneurship of homeowners relative to...

With a micro-level data, this paper constructs the first sentiment index for the Shanghai housing market. This is done by creatively applying the sentiment index construction approach in the stock market to the housing market. The look-ahead-bias-free monthly index is highly correlated with...

Using a large, unique dataset on the Chinese housing market, we propose to measure corruption using the price differences paid by bureaucrat buyers and non-bureaucrat buyers in the housing market. We find that the housing price paid by bureaucrat buyers is on average 1.05 percentage points lower...