We study the intermediary role of tour operators in the market for package tourism. Intermediaries often arise in order …

mysterious doubling in the ratio of output to capital input when the postwar era is compared with 1870-1929. Measurement … the measurement of capital. A new MFP series taking account of all these adjustments grows more slowly throughout, and the …

In this article, we review the literature on the measurement of trade costs in international trade with a special …

Three main features characterize the international financial integration of China and India. First, while only having a … small global share of privately-held external assets and liabilities (with the exception of China’s FDI liabilities), these … “short equity, long debt.” Third, China and India have improved their net external positions over the last decade although …

The Great Leap Forward (GLF) disaster, characterized by a collapse of grain output, and the associated famine in China …

development. Evidence from the failed Industrial Revolution in 14th-century China illustrates the empirical relevance of the …