This paper develops an overlapping generations (OLG) model to analyze how land asset constraints affect intergenerational welfare in China. Although urban migration provides higher wages and enhanced pension benefits, rural households incur significant costs: high housing expenditures and the loss of land value, which deter relocation. The results underscore the role of institutional barriers in perpetuating rural-urban disparities, and suggest that reforming land and pension policies is critical to mitigating long-term welfare imbalances. 

This study investigates how the minimum wage in migrants’ hometowns influences their employment probability and wage levels in destination areas. We develop a job search model that integrates the wage offer process with a reservation wage decision influenced by the hometown's minimum wage and related economic conditions. Our framework captures migrants' job market behavior, where lower potential income at home motivates job-seeking behavior in urban areas while simultaneously setting lower wage expectations.

This paper develops a continuous-time overlapping generations (OLG) model to examine the impact of China’s "Double Reduction" policy on fertility, human capital investment, and intergenerational welfare. The "double reduction" policy refers to reducing the homework burden of students in compulsory education and reducing the burden of off-campus training. The model features heterogeneous households in urban and rural areas, where agents make decisions over labor supply, savings, fertility, and child education investment. Urban and rural households differ in wages, pension systems, education efficiency, and child-rearing costs. A dual public pension system and labor income taxes are included. The model accounts for accidental bequests and captures how educational investment affects the probability of upward mobility. Calibrated using China-specific parameters and National Transfer Accounts data, the model is designed to simulate counterfactual policy experiments and assess the long-run equilibrium effects of educational reforms in an aging and dual-structured economy.