Journal Articles

Competitive Equilibrium Formation of Marketplaces with Heterogeneous Consumers,” Regional Science and Urban Economics 20 (1990), 295-304.

Alternative Approaches to Money and Growth,” (with C. Yip), Journal of Money, Credit and Banking 24 (1992), 553-562.

International Business Cycles,” (with S. Ahmed, B. Ickes, and S. Yoo), American Economic Review 83 (1993), 335-359.

Sources of Fluctuations in Relative Prices: Evidence from High Inflation Countries,” (with J. Rogers), Review of Economics and Statistics 70 (1993), 589-605.

Agglomeration in a Linear City with Heterogeneous Households,” Regional Science and Urban Economics 23 (1993), 291-306.

Human Capital and Endogenous Growth: Evidence from Taiwan, (with E. Tallman),” Journal of Monetary Economics 34 (1994), 101-124.

Fertility Choice and Economic Growth: Theory and Evidence,” (with C. Yip and C. Scotese), Review of Economics and Statistics 71 (1994), 255-266.

Learning, Matching, and Growth,” (with D. Laing and T. Palivos), Review of Economic Studies 62 (1995), 115-129.

Money Demand and Relative Prices During Episodes of Hyperinflation,” (with E. Tallman), Journal of Monetary Economics 36 (1995), 375-404.

R&D in a Model of Search and Growth,” (with D. Laing and T. Palivos), American Economic Review, Papers and Proceedings 85 (1995), 291-295.

Output, Inflation and Stabilization Policies in a Small Open Economy: Evidence from Mexico,” (with J. Rogers), Journal of Development Economics 46 (1995), 271-293.

“Can Government Enforcement Permanently Alter Fertility? The Case of China,” (with C. Scotese), Economic Inquiry 33 (1995), 552-570.

Toward a General-Equilibrium Theory of a Core-Periphery System of Cities,” (with H. Abdel-Rahman), Regional Science and Urban Economics 25 (1995), 529-546.

A General Two-Sector Model of Endogenous Growth with Human and Physical Capital: Balanced Growth and Transitional Dynamics,” (with E. Bond and C. Yip), Journal of Economic Theory 68 (1996), 149-173.

Spatial Agglomeration and Endogenous Growth,” (with T. Palivos), Regional Science and Urban Economics 26 (1996), 645-669.

On the Existence of Balanced Growth Equilibrium,” (with T. Palivos and J. Zhang), International Economic Review 38 (1997), 205-224.

Social Welfare and Income Inequality in a System of Cities,” (with H. Abdel-Rahman), Journal of Urban Economics 41 (1997), 462-483.

Costly Intermediation, the Big Push and the Big Crash,” (with Z. Becsi and M. Wynne), Journal of Development Economics 59 (1999), 175-193.

Dynamic Effects of Financial Intermediation Over the Business Cycle,” (with C. Lehr), Economic Inquiry 38 (2000), 34-57.

Spatial Mismatching in Search Equilibrium,” (with E. Coulson and D. Laing), Journal of Labor Economics 19 (2001), 949-972.

Product Diffusion and Pricing with Market Frictions,” (with D. Laing and T. Palivos), Economic Theory 19 (2002), 707-736.

Dynamics in a Transactions-Based Monetary Growth Model,” (with S. Jha and C. Yip), Journal of Economic Dynamics and Control 26 (2002), 611-635.

Skill Differentiation and Wage Disparity in a Decentralized Matching Model of North-South Trade,” (with H. Abdel-Rahman and G. Norman), Canadian Journal of Economics, (2002), 854-878.

Production Externality and Urban Configuration,” (with M. Berliant and S. Peng), Journal of Economic Theory, (2002), 275-303.

Technology Adoption, Growth and Matching,” (with B. Chen and C. Mo), Journal of Economic Dynamics and Control, (2002), 1927-1954.

Anticipated Inflation, Real Disturbances and Money Demand: The Case of Chinese Hyperinflation, 1946-49,” (with E. Tallman and D. Tang), Economic Inquiry, (2003), 234-249.

Educational Policy in a Credit Constrained Economy with Skill Heterogeneity,” (with J. Fender), International Economic Review, (2003), 939-964.

Factor Accumulation and Trade: Dynamic Comparative Advantage with Endogenous Physical and Human Capitals,” (with E. Bond and K. Trask), International Economic Review, (August, 2003), 1041-1060.

The Economics of New Blood,” (with D. Laing and T. Palivos), Journal of Economic Theory, (2003), 106-156.

Activation of a Modern Industry,” (with D. Xie), Journal of Development Economics, (2004), 393-410.

Urban Land Use and Housing Policy in an Endogenously Growing Monocentric City Model,” (with C. Lin and C. Mai), Regional Science & Urban Economics, (2004), 241-261.

Crime and Poverty: A Search-Theoretic Approach,” (with C. Huang and D. Liang), International Economic Review, (2004), 909-938.

Occupational Choice and Dynamic Indeterminacy,” (with K. Mino and K. Shimomura), Review of Economic Dynamics, (2005), 138-153.

Economic Takeoffs in a Dynamic Process of Globalization,” (with E. Bond and R. Jones), Review of International Economics, (2005), 1-19.

Heterogeneous Borrowers, Liquidity and the Search for Credit,” (with Z. Besci and V. Li), Journal of Economic Dynamics and Control, (2005), 1331-1360.

Sorting by Foot: ‘Travel-for’ Local Public Goods and Equilibrium Stratification,” (with S. Peng), Canadian Journal of Economics, (2005), 1224-1252.

Evaluation of Interest Tax Policies in a Model of Finance and Growth,” (with B. Chen and Y. Chiang), Journal of Macroeconomics, (2005), 533-552.

Production Externalities and Local Dynamics in Discrete-Time Multi-Sector Growth Models with General Production Technologies,” (with K. Nishimura and K. Shimomura), International Journal of Economic Theory, (2005), 299-312.

Welfare Analysis of the Number and Locations of Public Facilities,” (with M. Berliant and S. Peng), Regional Science and Urban Economics, (2006), 207-226.

Knowledge Exchange, Matching and Agglomeration,” (with M. Berliant and R. Reed III), Journal of Urban Economics, (2006), 69-95.

Crime and Ethics,” (with J. Conley), Journal of Urban Economics, (2006), 107-123.

Economic Integration and Agglomeration in a Middle Product Economy,” (with S. Peng and J. Thisse), Journal of Economic Theory, (2006), 1-25.

“Duality with Sector-Specific Trade Externalities under Social Constant Returns,” (with K. Nishimura and K. Shimomura), Japanese Economic Review, (2006), 467-475.

Formation of Buyer-Seller Trade Networks in a Quality-Differentiated Product Market,” (with A. Watts), Canadian Journal of Economics, (2006), 971-1004.

Inflation, Time Allocation and Welfare in a Multiple-Matching Model of Money,” (with D. Laing and V. Li), Journal of Monetary Economics, 54 (2007), 1949-1961.

Collusion and Over-lending,” (with J. Hwang and N. Jiang), Economic Inquiry, 45 (2007), 691-707.

Equilibrium Dynamics in an Endogenous Growth Model of Money and Banking” (with J. Chang, W. Chang and C. Lai), Journal of Money, Credit, and Banking, 39 (2007), 1683-1710.

Dynamic Indeterminacy in Discrete-Time Social Constant Returns Models,”(with K. Mino, K. Nishimura and K. Shimomura), Economic Theory, 34 (2008), 1-23.

Differential Cash Constraints, Financial Leverage and the Demand for Money by Firms: Evidence from Taiwan,” (with J. Liu and M. Tsou), Journal of Macroeconomics, 30 (2008), 523-542.

Urban Growth and Subcenter Formation: A Trolley Ride from the Staples Center to Disneyland and the Rose Bowl,” (with M. Berliant), Journal of Urban Economics, 63 (2008), 679-693.

Outsourcing of Innovation,” (with E. Lai and R. Riezman), Economic Theory, 38 (2009), 485-515.

Preference Bias and Outsourcing to Market: A Steady-State Analysis,” (with Ray Riezman), Review of International Economics, 17 (2009), 338-356.

Intergenerational Human Capital Evolution, Local Public Good Preferences, and Stratification,” (with B. Chen and S. Peng), Journal of Economic Dynamics and Control, 33 (2009), 745-757.

A Normative Analysis of Housing-related Tax Policy in a General Equilibrium Model of Housing Quality and Prices,” (with S. Peng), Journal of Public Economic Theory, 11, 2009, pp. 667–696.

Ability Heterogeneity, Entrepreneurship and Economic Growth,” (with N. Jiang and H. Wu), Journal of Economic Dynamics and Control (2009).

Workforce Composition and Firm Productivity: Evidence from Taiwan,” (with J. Liu and M. Tsou), Economic Inquiry (2010).

Casino Regulations and Economic Welfare,” (with J. Chang and C. Lai), Canadian Journal of Economics (2010).

Public Policy and Human Capital Accumulation in an Endogenously Growing Economy with Labor-Market Frictions,” (with B. Chen and H. Chen), International Economic Review (2011).

“The Organization of Production and Trade,” (with C. Lu and S. Peng), International Journal of Economic Theory (2012).

Knowledge Spillovers and Spatial Network Formation,” (with F. Kung), Canadian Journal of Economics (2012).

Two Sided Micro-Matching with Technical Progress,” (with B. Chen and J. Mo), Economic Theory (2012).

Stratification by Environment,” (with B. Chen and C. Huang), Journal of Public Economic Theory (2012).

Trade, Firm Selection and Industrial Agglomeration,” (with W. Hsu), Regional Science and Urban Economics (2012).

Money and Prices in a Multiple-Matching Decentralized Trading Model,” (with D. Laing and V. Li), Macroeconomic Dynamics (2013).

Credit Mismatch and Breakdown,” (with Z. Becsi and V. Li), European Economic Review (2013).

Search for a Theory of Organized Crimes,” (with J. Chang and H. Lu), European Economic Review (2013).

Real Effects of Steady Inflation in the Presence of Search Frictions: Might Mundell-Tobin Be Right?” (with D. Xie), Journal of Money, Credit and Banking (2013).

“Integrative Analysis of Non-renewable and Renewable Energy Sources for Electricity Generation in U.S.: Demand and Supply Factors, Environmental Risks and Policy Evaluation,” (with R. Agarwal, L. Chusak, and Z. Zhang), International Journal of Energy, Environment, and Economics 21 (2013), 71-88.

Taxing Pollution: Agglomeration and Welfare Consequences,” (with M. Berliant and S. Peng), Economic Theory 55 (2014), 665-704.

A Quantitative Study of Optimal Drug Policy in Low-Income Neighborhoods,” (with S. Chang and E. Coulson), Journal of Public Economic Theory 18 (2016), 726-751.

“Human Capital Spillovers and Plant Productivity: Evidence from the Manufacturing Industry in Taiwan,” (with C. Chang and J. Liu), Journal of Macroeconomics 47 (2016), 214-232.

“China’s Gains from WTO Accession: Imports vs Exports,” (with T. Lai and R. Ray), Review of International Economics 24 (2016), 837-856.

“The Timing of Childbearing: The Role of Human Capital and Personal Preferences,” (with H. Lien), Journal of Macroeconomics 49 (2016), 247-264.

Shopping Vouchers and Consumption Behavior,” (with K. Kan and S. Peng), American Economic Journal: Policy 9 (2017), 137-153.

Capitalization, Decentralization and Intergenerational Spillovers in a Tiebout Economy with a Durable Public Good,” (with J. Conley and R. Driskill), Economic Theory 67 (2019), 1-27.

Inflation Targeting, Pattern of Trade and Economic Dynamics in a Heckscher-Ohlin Monetary Economy,” (with J. Chang, W. Chang and H. Tsai), Macroeconomic Dynamics 23 (2019), 2748-2786.

Long-Run Tax Incidence in a Human-Capital-Based Endogenous Growth Model with Labor-Market Frictions,” (with B. Chen and H. Chen), Macroeconomic Dynamics (2021), 337-378.

The Dynamics of Outsourcing: From Labor Cost-Saving to Preference-Based Outsourcing,” (with W. Cheng and R. Riezman) International Journal of Economic Theory (2021), 57-73.

Rural-Urban Migration and House Prices in China,” (with C. Garriga, A. Hedlund and Y. Tang), Regional Science and Urban Economics: Special Issue on Rural-Urban Migration in Honor of Harris and Todaro (2021), 103613.

Educational Choice, Rural-Urban Migration and Economic Development,” (with P. Liao, Y. Wang and C. Yip), Economic Theory (2022), 1-67.

Cross-Border Casino Competition, Externalities and Optimal Tax Policy: A Unified Theory with Quantitative Analysis,” (with J. Chang, I. Fiedler, and C. Lai), Regional Science and Urban Economics (2021), 103653.

Flying or Trapped?” (with Y. Hu, T. Kunieda and K. Nishmura), Economic Theory (2023), 341-388.

Rural-Urban Migration, Structural Transformation, and Housing Markets in China,” (with C. Garriga, A. Hedlund and Y. Tang), American Economic Journal: Macroeconomics (2023), 413-440.

Misallocation and TFP with Endogenous Production Techniques,” (with B. Uras), Journal of Development Economics (2024 forthcoming).


Human Capital, Trade and Public Policy in Rapidly Growing Economies: From Theory to Empirics. (co-edited with M. Boldrin and B. Chen), Edwards-Edgar, 2004.

Book Volumes

Are Alcoholics in Bad Jobs?” (with D. Kenkel), in The Economic Analysis of Substance Use and Abuse, (ed. by F. Chaloupka, M. Grossman, W. Bickel and H. Saffer), NBER, University of Chicago Press, 1999, 251-278.

Rational Addiction, Occupational Choice and Human Capital Accumulation,” (with D. Kenkel), in The Economic Analysis of Substance Use and Abuse: The Experience of Developed Countries and Lessons for Developing Countries (edited by M. Grossman and C. Hsieh), Edwards-Edgar, 2001, 33-60.

A Modified Harris-Todaro Model of Rural-Urban Migration for China,” (with D. Laing and C. Park), in Critical Issues in China’s Growth and Development (edited by F. Kwan and E. Yu), Ashgate Publishing Limited, 2005, 245-264.

Dynamic Urban Models: Agglomeration and Growth,” (with M. Berliant), in Urban Dynamics and Growth: Advances in Urban Economics (edited by R. Capello and P. Nijkamp), North Holland 2005.