Srl | Item |
1 |
ID:
159078
|
|
|
Summary/Abstract |
Exploiting the variations in household income and consumption structure, this paper corrects the measurement errors of consumption expenditure reported by households in different income classes. By using the Urban Household Survey (UHS) data, empirical results demonstrate that consumption inequality in urban China increased by 67% during the sample period and it was much larger than 36%, which was obtained directly from the reported raw data. Precisely, from 1993 to 2007, the consumption inequality experienced a rapid increase, but began to decrease after 2008. Since 2002, underreporting of consumption expenditure was more evident for households with higher income. Furthermore, the consumption inequality in central and western regions, and that of the households with higher education levels were more serious and constituted important driving forces for the increase of consumption inequality.
|
|
|
|
|
|
|
|
|
|
2 |
ID:
190157
|
|
|
Summary/Abstract |
This paper exploits a novel and unique opportunity to reveal the evolution of income volatility and consumption insurance from 1992 to 2014 in urban China. We found that (i) the average household experienced a downward trend in income and consumption volatility. Although the global financial crisis in 2008 caused a slight spike, it did not reverse the downward trend. (ii) Households' ability to smooth income shocks improved significantly, and the consumption insurance against permanent (transitory) income shocks increased from 0.6172 (0.8307) to 0.7453 (0.8742) – that is, the transmission of permanent (transitory) income shocks to consumption decreased by 33.46 (25.69) percent from 2004 to 2014. (iii) Welfare analysis indicates that the positive insurance effect counteracted the negative effects of lower economic growth in the 2010–2014 period. Income and consumption volatility, and consumption insurance were heterogeneous across income sources, consumption categories, and various demographic characteristics, which have important implications for understanding China's economic transition.
|
|
|
|
|
|
|
|
|
|
3 |
ID:
187894
|
|
|
Summary/Abstract |
A central challenge in economic development is market segmentation (MS) within countries, which largely arises from judicial local protection(JLP). By taking advantage of China's establishment of interprovincial circuit tribunals (ICTs) that separate the judicial system from local governments, we find that: (1) ICTs significantly rectify the JLP provided by lower-level courts. (2)A micro-mechanism analysis shows that ICTs decrease transportation costs of cases involving small and private enterprises as plaintiffs and increase their probability applying for retrials in the Supreme People's Court (SPC). In combination with the fact that these enterprises are more likely to be discriminated against by lower-level courts, the rectification effect of ICTs becomes significant after the reform. (3)Consistently, although ICTs significantly decrease the MS between provinces within the same circuit area, the MS between provinces of different circuit areas barely changes. Our paper provides timely implications and potentially actionable insights for countries facing similar concerns.
|
|
|
|
|
|
|
|
|
|