Related papers: Is there a housing bubble in China
Traditional data sources for the analysis of housing markets show several limitations, that recently started to be overcome using data coming from housing sales advertisements (ads) websites. In this paper, using a large dataset of ads in…
We investigate the utility in employing asymptotic results related to a clustering criterion to the problem of testing for the presence of jumps in financial models. We consider the Jump Diffusion model for option pricing and demonstrate…
Urban structure detection is a basic task in urban geography. Clustering is a core technology to detect the patterns of urban spatial structure, urban functional region, and so on. In big data era, diverse urban sensing datasets recording…
With the continuous emergence of Chinese Large Language Models (LLMs), how to evaluate a model's capabilities has become an increasingly significant issue. The absence of a comprehensive Chinese benchmark that thoroughly assesses a model's…
The coherent dynamics of bubble clusters in liquid are of fundamental and industrial importance and are elusive due to the complex interactions of disordered bubble oscillations. Here we introduce and demonstrate unsupervised learning of…
We define a financial bubble as a period of unsustainable growth, when the price of an asset increases ever more quickly, in a series of accelerating phases of corrections and rebounds. More technically, during a bubble phase, the price…
House price increases have been steady over much of the last 40 years, but there have been occasional declines, most notably in the recent housing bust that started around 2007, on the heels of the preceding housing bubble. We introduce a…
Air pollution has become a major issue and caused widespread environmental and health problems. Aerosols or particulate matters are an important component of the atmosphere and can transport under complex meteorological conditions. Based on…
Housing quality is an essential proxy for regional wealth, security and health. Understanding the distribution of housing quality is crucial for unveiling rural development status and providing political proposals. However,present rural…
We tackle the problem of pricing Chinese convertible bonds(CCBs) using Monte Carlo simulation and dynamic programming. At each exercise time, we use the state variables of the underlying stock to regress the continuation value, and apply…
Emerging trends in smartphones, online maps, social media, and the resulting geo-located data, provide opportunities to collect traces of people's socio-economical activities in a much more granular and direct fashion, triggering a…
In this study, we investigate asset price bubbles in a discrete-time, discrete-state market under model uncertainty and short sales prohibitions. Building on a new fundamental theorem of asset pricing and a superhedging duality in this…
The pricing of housing properties is determined by a variety of factors. However, post-pandemic markets have experienced volatility in the Chicago suburb area, which have affected house prices greatly. In this study, analysis was done on…
Proving the existence of speculative financial bubbles even a posteriori has proven exceedingly difficult so anticipating a speculative bubble ex ante would at first seem an impossible task. Still as illustrated by the recent turmoil in…
Using the possible synergy among geographic, size, and technological distributions of firms in the Orbis database, we find the greatest reduction of uncertainty at the level of the 31 provinces of China, and an additional 18.0% at the…
Outdoor air pollution is a major killer worldwide and the fourth largest contributor to the burden of disease in China. China is the most populous country in the world and also has the largest number of air pollution deaths per year, yet…
Upon taking office in late 2012, Chinese President Xi Jinping launched one of the most intensive anticorruption campaigns in the history of the People's Republic of China. Prior to the campaign, China's land market suffered from corruption,…
The financial crisis of 2008, which started with an initially well-defined epicenter focused on mortgage backed securities (MBS), has been cascading into a global economic recession, whose increasing severity and uncertain duration has led…
We ask the question whether it is possible to diagnose the existence of "Dragon-Kings" (DK), namely anomalous observations compared to a power law background distribution of event sizes. We present two new statistical tests, the U-test and…
The interactive effect is significant in the Chinese stock market, exacerbating the abnormal market volatilities and risk contagion. Based on daily stock returns in the Shanghai Stock Exchange (SSE) A-shares, this paper divides the period…