Publications

　　

Industrial Organization

Deregulation, Competition, and Consumer Welfare in Banking Market: Evidence from the Hong Kong

Forthcoming in Journal of Regulatory Economics

Findings: The loan market is characterized by non-cooperative competitive behavior and becomes more competitive. Moreover, the consumers are better-off after the banking deregulation.

A Dynamic Game of Airline Network Competition: Hub-and-Spoke Networks and Entry Deterrence

Forthcoming in International Journal of Industrial Organization; with Victor Aguirregabiria

version: October 2009

Findings: This paper presents a dynamic game of airlines network competition that incorporates this entry deterrence motive for using hub-and-spoke networks. We summarize the results of the estimation of the model, with particular attention to empirical evidence on the entry deterrence motive.

Economic Development

Spatial Dependence and Divergence across Chinese Cities

Accepted in Review of Development Economics; with Dan Li, version: July 2009

Findings: No output convergence across Chinese cities during the period 1984-2003. Cities with comparable income level are more likely clustered in the same region, but cities only tend to mirror the mobility of their counterparts located within the same province, but not within the same region.

Demographic Changes and the Evolution of Income Distribution of Chinese Cities, 1984 – 2003

Forthcoming in Applied Economics Letters; with Dan Li

Findings: There is a trend of polarization in GDP per capita across Chinese cities; the population growth in rich cities in 1984 is faster for the following 20 years. The empirical results provide indirect evidences for “Brain Drain” in China where skilled labor force floods into economically prosperous cities.

Rising Regional Inequality in China: Policy Regimes and Structural Changes

Papers in Regional Science, 87 (2), 245-260, June 2008; with Dan Li

Findings: We analyze the regional income inequality in China from 1952 to 2000 and show the following (1) the Chinese regional inequality is trend stationary with structural breaks rather than following a random walk and (2) the previous policies had long-lasting and fundamental effect on the income distribution.

Applied Econometrics

A Empirical Analysis of Household's Choices on Housing Consumption and Travel Mode

Forthcoming in Annals of Regional Science; with Dan Li, T. R. Lakshmanan and W. P. Anderson

Findings: In Great Boston Area, people with higher income level tend to live further away from Central Business District (CBD), enjoy more spacious housing and travel with a speedier mode.

Investment-specific Technological Change and Labor Composition: Evidence from the U.S. Manufacturing

Economics Letters,  99(3), 526-529, June 2008.

Findings: Investment-specific technological change increases the relative demand of non-production workers to production workers, while TFP growth does not change labor composition. Moreover, the demand of skilled labor is stronger in the durable goods sector whereas the deskilling effect is stronger in the non-durable goods sector.

　

A Dynamic Equilibrium of Electricity Consumption and GDP in Hong Kong: An Empirical Investigation

Energy Policy, 35(4), 2507-2513, April 2007; with Kam Wing Siu.

Findings: (1) There is a long run equilibrium relationship between real GDP and electricity consumption; (2) a one-way causal effect exists from electricity consumption to real GDP; (3) a significant adjustment process occurs when equilibrium is interrupted; (4) there exists possible structural change in the relationship between electricity consumption and economic activities in 1990s.

　

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