This paper evaluates the impact of privatization on firm employment using a panel dataset of 386 firms in China in the period 1995-2001. Controlling firm and year fixed effects, our panel regressions find that employment grows faster in privatized firms than in pure state-owned firms by a margin...

Most of the unemployed in Indonesia are young and inexperienced, still live with their parents, and have at least 12 years of education. Starting with the premise that efforts to reduce unemployment should take into account the characteristics of the unemployed, we develop a model to look at the...

Chinese economy has been in a state of external imbalance and internal imbalance for some years, which certainly has something to do with the undervaluation of renminbi (RMB). But Chinese Government hesitates to revalue RMB because of the worry that RMB revaluations are contractionary thus have...

This paper examines the exporting job hypothesis that expansion of overseas operations of manufacturing multinational enterprises (MNEs) reduces home employment using data for Japanese MNEs. While the existing studies are mainly based on the industry level data, this paper presents the evidence...

Recurrent large fiscal deficits and accumulating public debt frequently ring alarm bells around the world on the sustainability of U.S. federal fiscal policy. The present-value borrowing constraint, which states that, for the fiscal policy to be sustainable the current debt stock should match...

The paper examines the temporal relationship between revenues and expenditures for the four southern states during 1980 to 2005. Using an error-correction model and Granger causality test, it finds that the taxspend hypothesis is supported by the analsysis. The spend-tax hypothesis is valid for...

The recent de-emphasizing of the role of money in both theoretical macroeconomics as well as in the practical conduct of monetary policy sits uneasily with the idea that inflation is a monetary phenomenon. Empirical evidence has, however, been accumulating, pointing to an important leading...