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CEMA Working Papers

From China Economics and Management Academy, Central University of Finance and Economics
Contact information at EDIRC.

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460: Competitive Equilibria of Economies with a Continuum of Consumers and Aggregate Shocks Downloads
Jianjun Miao
459: Investment, Consumption, and Hedging under Incomplete Markets Downloads
Jianjun Miao and Neng Wang
456: Asset pricing and the Modigliani-Miller theorem with the spirit of capitalism Downloads
Jizheng Huang and Heng-Fu Zou
455: Does FDI Promote Human Capital Accumulation? The Role of Gradual Financial Liberalization Downloads
Qichun He
452: Endogenous Timing in a Mixed Duopoly with Endogenous Vertical Differentiation Downloads
Lin Liu and Yuanzhu Lu
440: Optimal Capital Structure and Industry Dynamics Downloads
Jianjun Miao
439: Capital Structure, Credit Risk, and Macroeconomic Conditions Downloads
Dirk Hackbarth, Jianjun Miao and Erwan Morellec
438: Ambiguity, Learning, and Asset Returns Downloads
Nengjiu Ju and Jianjun Miao
437: Patent Protection, Technological Change and Wage Inequality Downloads
Shiyuan Pan, Heng-Fu Zou and Tailong Li
433: Short-Run Analysis of Income Fluctuation and Optimum Foreign Borrowing in the Bardhan-Pitchford Model Downloads
Heng-Fu Zou
432: Foreign Asset Accumulation and Macroeconomic Policies in a Model of Mercantilism Downloads
Heng-Fu Zou
431: Land Taxation in China: Assessment of Prospects for Politically and Economically Sustainable Reform Downloads
Denis Nitikin, Ashley Chunli Shen, Qian Wang and Heng-Fu Zou
430: Water Service Delivery Reform in China: Safeguarding the Interests of the Poor Downloads
Denis Nitikin, Ashley Chunli Shen, Qian Wang and Heng-Fu Zou
409: A Note on Entrepreneurial Risk, Capital Market Imperfections, and Heterogeneity Downloads
Yulei Luo, Liutang Gong and Heng-Fu Zou
408: Stochastic Growth with the Social-Status Concern: The Existence of a Unique Stable Distribution Downloads
Liutang Gong, Zhao Xiaojun and Heng-Fu Zou
392: Multiple Equilibria and Indeterminacy in an Optimal Growth Model with Endogenous Capital Depreciation Downloads
Gaowang Wang and Heng-Fu Zou
391: Directed Technological Change: A Knowledge-Based Model Downloads
Shiyuan Pan, Heng-Fu Zou and Tailong Li
373: Optimal Military Spending, Trade and Stochastic Economic Growth Downloads
Deng-Shan Wang, Yan Wang, Yifang Liu and Heng-Fu Zou
372: Social Status, the Spirit of Capitalism, and the Term Structure of Interest Rates in Stochastic Production Economies Downloads
Liutang Gong, Yulei Luo and Heng-Fu Zou
371: Social Status, the Spirit of Capitalism, and the Term Structure of Interest Rates
Liutang Gong, Yulei Luo and Heng-Fu Zou
333: Transfers-based Decentralization, Local Endowment and Public Employment: A theoretical inquiry and empirical evidence from China Downloads
Fei Yuan, Ran Tao, Zhigang Xu, Mingxing Liu, Heng-Fu Zou and Chunli Shen
332: Intertemporal Portfolio Choice under Multiple Types of Event Risks Downloads
Du Du and Heng-Fu Zou
331: Stock Return Dynamics under Earnings Management Downloads
Xiaotong Wang and Heng-Fu Zou
330: Fiscal Decentralization and Public Services Provision in China Downloads
Chunli Shen, Zhao Xiaojun and Heng-Fu Zou
329: Expenditure Assignments in China: Challenges and Policy Options, Public Finance Downloads
Jorge Martinez-Vazquez, Baoyun Qiao, Shuilin Wang and Heng-Fu Zou
309: Foreign Aid, Public Spending, Optimal Fiscal and Monetary Policies, and Long-Run Growth Downloads
Liutang Gong, Yuzhe Zhang and Heng-Fu Zou
294: "Race to the Bottom" Competition by Negotiated Land Leasing: an institutional analysis and empirical evidence from Chinese cities Downloads
Ran Tao, Fei Yuan, Mingxing Liu and Heng-Fu Zou
293: Technical Choice in Political Perspective: Rethinking How Elites Selected Economic Strategy After WW II Downloads
Shiyuan Pan, Qi Zhang, Mingxing Liu and Heng-Fu Zou
292: Returns to education, productivity, and economic growth in China Downloads
Qinghua Zhang and Heng-Fu Zou
278: China Decentralization Finance Issues Downloads
Shuilin Wang, Zhao Xiaojun and Heng-Fu Zou
277: International asset pricing with alternative distributional specifications Downloads
Campbell Harvey and Guofu Zhou
276: Measuring the Pricing Error of the Arbitrage Pricing Theory Downloads
John Geweke and Guofu Zhou
275: Estimating and testing beta pricing models: Alternative methods and their performance in simulations Downloads
Jay Shanken and Guofu Zhou
274: The Spirit of Capitalism, Precautionary Savings, and Consumption Downloads
Yulei Luo, William Smith and Heng-Fu Zou
273: Fiscal Decentralization in China: History, Impact, Challenges and Next Steps Downloads
Ashley Chunli Shen, Jing Jin and Heng-Fu Zou
252: China: Regional Disparities In Poverty Distribution Downloads
Ashley Chunli Shen and Heng-Fu Zou
212: Fiscal decentralization, revenue and expenditure assignments, and growth in China Downloads
Jing Jin and Heng-Fu Zou
192: Regional Disparities of Educational Attainment in China Downloads
Anwar Shah, Qinghua Zhang and Heng-Fu Zou
191: Product Innovation, Capital Accumulation, and Endogenous Growth Downloads
Heng-Fu Zou
169: Fiscal decentralization, revenue and expenditure assignments, and growth in China Downloads
Jing Jin and Heng-Fu Zou
151: A Fiscal Federalism Approach to Optimal Taxation and Intergovernmental Transfers in a Dynamic Model Downloads
Liutang Gong and Heng-Fu Zou
132: Soft Budget Constraints on Local Government in China Downloads
Jing Jin and Heng-Fu Zou
109: Fiscal Decentralization and Economic Growth in the United States Downloads
Danyang Xie, Heng-Fu Zou and Hamid Davoodi
103: Fiscal Policies in a Stochastic Model with Hyperbolic Discounting Downloads
Liutang Gong and Heng-Fu Zou
102: Fiscal Policies in a Finite Horizon Model with the Spirit of Capitalism Downloads
Liutang Gong and Heng-Fu Zou
101: Optimal design of federal grants to localities Downloads
Heng-Fu Zou
100: Dynamic analysis in the Viner model of mercantilism Downloads
Heng-Fu Zou
99: The spirit of capitalism, social status, money, and accumulation Downloads
Heng-Fu Zou
98: Fiscal Decentralization and Economic Growth: A Cross-Country Study Downloads
Hamid Davoodi and Heng-Fu Zou
97: A note on the Bauer-Kornai investment cycle theory Downloads
Heng-Fu Zou
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