Related papers: Is there a housing bubble in China
We build on theoretical results from the mechanism design literature to analyze empirical models of second-degree price discrimination (2PD). We show that for a random-coefficients discrete choice ("BLP") model to be suitable for studying…
Following our previous investigation of the USA Standard and Poor index anti-bubble that started in August 2000, we analyze thirty eight world stock market indices and identify 21 anti-bubble. An ``anti-bubble'' is defined as a…
This paper introduces a new approach for bubble detection based on mixed causal and noncausal autoregressive processes and their tail process representation during an explosive episode. Departing from traditional definitions of bubbles as…
The imbalance of buying and selling functions profoundly in the formation of market trends, however, a fine-granularity investigation of the imbalance is still missing. This paper investigates a unique transaction dataset that enables us to…
This review discusses methods of testing for explosive bubbles in time series. A large number of recently developed testing methods under various assumptions about innovation of errors are covered. The review also considers the methods for…
Observing the relics of collisions between bubble universes would provide direct evidence for the existence of an eternally inflating Multiverse; the non-observation of such events can also provide important constraints on inflationary…
With the fast-growing economy in the past ten years, cities in China have experience great changes, meanwhile, huge volume of urban grid management data has been recorded. Studies on urban grid management are not common so far. This kind of…
We represent the functioning of the housing market and study the relation between income segregation, income inequality and house prices by introducing a spatial Agent-Based Model (ABM). Differently from traditional models in urban…
Using a recently introduced rational expectation model of bubbles, based on the interplay between stochasticity and positive feedbacks of prices on returns and volatility, we develop a new methodology to test how this model classifies 9…
Emerging markets such as India provide investors with returns far greater than those in developed markets; taking the average returns from the period 1995 to 2014 the returns are 4.714% to 3.276% of the developed market. The majority of…
This paper employs the survey data of CHFS (2013) to investigate the impact of housing investment on household stock market participation and portfolio choice. The results show that larger housing investment encourages the household…
Large language models (LLMs) are increasingly deployed in cost-sensitive and on-device scenarios, and safety guardrails have advanced mainly in English. However, real-world Chinese malicious queries typically conceal intent via homophones,…
As a huge threat to the public health, China's air pollution has attracted extensive attention and continues to grow in tandem with the economy. Although the real-time air quality report can be utilized to update our knowledge on air…
The informational context is regularly questioned in a transitional economic regime like the one implemented in China or Vietnam. This article investigates this issue and the predictive power of fundamental analysis in such context and more…
A city (or an urban cluster) is not an isolated spatial unit, but a combination of areas with closely linked socio-economic activities. However, so far, we lack a consistent and quantitative approach to define multi-level urban clusters…
A dynamical model is introduced for the formation of a bullish or bearish trends driving an asset price in a given market. Initially, each agent decides to buy or sell according to its personal opinion, which results from the combination of…
Air quality impacts people's health and daily life, affects the sensitive ecosystems, and even restrains a country's development. By collecting and processing the time series data of Air Quality Index (AQI) of 363 cities of China from Jan.…
The rapid advancement of Large Language Models (LLMs) has spurred discussions about their potential to enhance quantitative trading strategies. LLMs excel in analyzing sentiments about listed companies from financial news, providing…
The study of socioeconomic status has been reformed by the availability of digital records containing data on real estate, points of interest, traffic and social media trends such as micro-blogging. In this paper, we describe a…
Keeping a basic tenet of economic theory, rational expectations, we model the nonlinear positive feedback between agents in the stock market as an interplay between nonlinearity and multiplicative noise. The derived hyperbolic stochastic…