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Predictive Systems: Living with Imperfect Predictors

Pástor, Luboš; Stambaugh, Robert F. - C.E.P.R. Discussion Papers - 2007

The standard regression approach to modeling return predictability seems too restrictive in one way but too lax in another. A predictive regression models expected returns as an exact linear function of a given set of predictors but does not exploit the likely economic property that innovations...

Persistent link: https://www.econbiz.de/10005124082

The European Business Cycle

Artis, Michael J; Krolzig, Hans-Martin; Toro, Juan - C.E.P.R. Discussion Papers - 1999

This paper deals with the existence and identification of a common European Growth Cycle. It has recently been argued that the formation of a monetary union creates in itself a tendency for business cycle symmetry to emerge. If this holds for the European monetary Union and the quasi-union of...

Persistent link: https://www.econbiz.de/10005114243

The International Financial Integration of China and India

Lane, Philip R.; Schmukler, Sergio - C.E.P.R. Discussion Papers - 2006

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 …

Persistent link: https://www.econbiz.de/10005662395

China's Great Leap: Forward or Backward? Anatomy of a Central Planning Disaster

An, Mark Yuying; Li, Wei; Yang, Dennis Tao - C.E.P.R. Discussion Papers - 2001

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

Persistent link: https://www.econbiz.de/10005789139

Can Production Subsidies Foster Export Activity? Evidence from Chinese Firm Level Data

Girma, Sourafel; Gong, Yundan; Görg, Holger; Yu, Zhihong - C.E.P.R. Discussion Papers - 2007

Using a unique firm level data set from the Chinese manufacturing sector, this paper analyses the impact of production subsidies on firms’ export performance. It documents robust evidence that production subsidies stimulate export activity, although this effect is conditional on firm...

Persistent link: https://www.econbiz.de/10005789202

The Weightless Economy in Economic Development

Quah, Danny - C.E.P.R. Discussion Papers - 1999

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

Persistent link: https://www.econbiz.de/10005791375

From Federalism, Chinese Style, to Privatization, Chinese Style

Yuanzheng, Cao; Qian, Yingyi; Weingast, Barry - C.E.P.R. Discussion Papers - 1998

In 1994, China began a profound reform of its state-owned enterprises (SOE). We first describe and characterize this …

Persistent link: https://www.econbiz.de/10005792177

Provincial Protectionism

Sonin, Konstantin - C.E.P.R. Discussion Papers - 2003

federal centre. The theory is supported by the recent experience of Russia, China, and Argentina. …

Persistent link: https://www.econbiz.de/10005792438

Cultural and Institutional Bifurcation: China and Europe Compared

Greif, Avner; Tabellini, Guido - C.E.P.R. Discussion Papers - 2010

How to sustain cooperation is a key challenge for any society. Different social organizations have evolved in the course of history to cope with this challenge by relying on different combinations of external (formal and informal) enforcement institutions and intrinsic motivation. Some societies...

Persistent link: https://www.econbiz.de/10008468568

Family Ties and Organizational Design: Evidence from Chinese Private Firms

Cai, Hongbin; Li, Hongbin; Park, Albert; Zhou, Li-An - C.E.P.R. Discussion Papers - 2010

Analyzing data from a unique survey of managers of Chinese private firms, we investigate how family ties with firm heads affect managerial compensation and job assignment. We find that family managers earn higher salaries and receive more bonuses, hold higher positions, and are given more...

Persistent link: https://www.econbiz.de/10008468597