Unbalanced price changes across regions cause consumption inequalities within a large country.With consumer demand system model,this paper estimated the dynamic changes of the true-cost-of-living index(TCLI)and consum...Unbalanced price changes across regions cause consumption inequalities within a large country.With consumer demand system model,this paper estimated the dynamic changes of the true-cost-of-living index(TCLI)and consumption inequalities in China.Results indicate urban households experienced a rising TCLI from 2002 to 2014,among which,Liaoning increased the most and Guangdong the least.Beijing’s TCLI was the highest and Sichuan the lowest over the same period.Since 2008,the unbalanced rise of consumer price has gradually diminished,and gaps between real and nominal consumption inequalities have narrowed.However,real consumption inequalities continue to rise,and low-income groups are affected the most by inflation.展开更多
China＇s first interest rate hike during the last decade, aiming to cool down the seemingly overheated real estate market, had aroused more caution on housing market. This paper aims to analyze the housing price dynam...China＇s first interest rate hike during the last decade, aiming to cool down the seemingly overheated real estate market, had aroused more caution on housing market. This paper aims to analyze the housing price dynamics after an unanticipated economic shock, which was believed to have similar properties with the backward-looking expecta- tion models. The analysis of the housing price dynamics is based on the cobweb model with a simple user cost affected demand and a stock-flow supply assumption. Several nth- order delay rational difference equations are set up to illustrate the properties of housing dynamics phenomena, such as the equilibrium or oscillations, overshoot or undershoot and convergent or divergent, for a kind of heterogeneous backward-looking expectation models. The results show that demand elasticity is less than supply elasticity is not a necessary condition for the occurrence of oscillation. The housing price dynamics will vary substantially with the heterogeneous backward-looking expectation assumption and some other endogenous factors.展开更多
Resale price maintenance(RPM) exerts both positive and negative influences on the market competition.Such duality and the consequent difficulties in presenting evidence have often become highly controversial issues in...Resale price maintenance(RPM) exerts both positive and negative influences on the market competition.Such duality and the consequent difficulties in presenting evidence have often become highly controversial issues in anti-monopoly law enforcement.We found that in reality,effects of jump-dealing and RPM can offset each other.This paper systematically proposed the offsetting theory of jump-dealing and RPM,and analyzed their policy implications for anti price monopoly,thus providing some simple principles and methods to the law enforcement against vertical price monopoly.This will not only reduce the possible "superfluous actions " in current law enforcement,but also help avoid compounded mistakes due to difficulties of enforcement.展开更多
文摘Unbalanced price changes across regions cause consumption inequalities within a large country.With consumer demand system model,this paper estimated the dynamic changes of the true-cost-of-living index(TCLI)and consumption inequalities in China.Results indicate urban households experienced a rising TCLI from 2002 to 2014,among which,Liaoning increased the most and Guangdong the least.Beijing’s TCLI was the highest and Sichuan the lowest over the same period.Since 2008,the unbalanced rise of consumer price has gradually diminished,and gaps between real and nominal consumption inequalities have narrowed.However,real consumption inequalities continue to rise,and low-income groups are affected the most by inflation.
文摘China＇s first interest rate hike during the last decade, aiming to cool down the seemingly overheated real estate market, had aroused more caution on housing market. This paper aims to analyze the housing price dynamics after an unanticipated economic shock, which was believed to have similar properties with the backward-looking expecta- tion models. The analysis of the housing price dynamics is based on the cobweb model with a simple user cost affected demand and a stock-flow supply assumption. Several nth- order delay rational difference equations are set up to illustrate the properties of housing dynamics phenomena, such as the equilibrium or oscillations, overshoot or undershoot and convergent or divergent, for a kind of heterogeneous backward-looking expectation models. The results show that demand elasticity is less than supply elasticity is not a necessary condition for the occurrence of oscillation. The housing price dynamics will vary substantially with the heterogeneous backward-looking expectation assumption and some other endogenous factors.
基金phase-wise achievement of the project B-T-C Paradigm and Application of "Jump-dealing"(Project No.:71272190)funded by the National Natural Science Foundation of China,headed by Professor Yu Li,vice president of Tianjin University of Finance and Economics,director of Center for Economic Analysis of Law and Policy Evaluation and member of Expert Advisory Board of the State Council Anti-monopoly Commission of China
文摘Resale price maintenance(RPM) exerts both positive and negative influences on the market competition.Such duality and the consequent difficulties in presenting evidence have often become highly controversial issues in anti-monopoly law enforcement.We found that in reality,effects of jump-dealing and RPM can offset each other.This paper systematically proposed the offsetting theory of jump-dealing and RPM,and analyzed their policy implications for anti price monopoly,thus providing some simple principles and methods to the law enforcement against vertical price monopoly.This will not only reduce the possible "superfluous actions " in current law enforcement,but also help avoid compounded mistakes due to difficulties of enforcement.
