Using a general-equilibrium simulation model featuring nominal rigidities and monopolistic competition in product and … labour markets, this Paper estimates the macroeconomic benefits and international spillovers of an increase in competition …, greater competition produces large effects on macroeconomic performance, as measured by standard indicators. In particular, we …

This Paper reviews the controversy over China’s exchange rate regime. Placing the issue in the context of the … literature on exit strategies, it argues that now is the best time for China to exit from its peg. Moving to a managed float …

Import competition from China is pervasive in the sense that for many good categories, the competitive environment that …

curve for China and show that the output gap, the exchange rate, and inflation expectations play important roles in … relevant to policies regarding possible exchange rate liberalization in China. …