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There is a lively debate in the U.S. regarding trends in inequality over the last 40 years, and about its causes and consequences.
Mortgage loans are leading examples of transactions where experts on one side of the market take advantage of consumers’ lack of knowledge and experience. We study the compensation that borrowers pay ...
We study the long-run evolution of brand preferences, using new data on consumers’ life histories and purchases of consumer packaged goods. Variation in where consumers have lived in the past allo...
We conduct a series of field experiments to evaluate two competing views of the role of financial service intermediaries in providing product recommendations to potentially uninformed consumers. One v...
We examine the effect of regime change on privatization using the 2004 election surprise in India. The pro-reform BJP was unexpectedly defeated by a less reformist coalition. Stock prices of governmen...
This paper investigates information transmission and price discovery in informationally linked markets within the multivariate generalized autoregressive conditional heteroskedasticity and information...
We measure the correlations between two cities’ real GDP growth rates (a measure of business cycle correlations) to capture the degree of segmentation across China’s provincial and regional borders.
Friedman’s plucking model of business fluctuations suggests that output cannot exceed an upper limit, or ceiling level, but it is occasionally plucked downward, with depth and steepness, due to recess...
We conduct a market experiment with human agents in order to explore the structure of transaction networks and to study the dynamics of wealth accumulation. The experiment is carried out on our platf...
While the high savings rate in China has global impact, existing explanations are incomplete. This paper proposes a competitive saving motive as a new explanation: as the country experiences a rising ...
Deaton and Lubotsky (2003) found that the robust positive relationship across American cities between mortality and income inequality became small, insignificant, and/or non-robust once they con...
This work presents a comprehensive study of the evolution of the expenditure distribution in In-dia. The consumption process is theoretically modeled based on certain physical assumptions. The propose...
Grassroots Democracy and Income Distribution: Evidence from Village Election in China Yan ShenAssistant professor& Yang YaoProfessorChina Center for Economic Research Peking University April 9, 20...

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