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Factor-endowment based trade with the leading economy helps to explain the differing development performances of the Americas and East Asia in the past two centuries. Between 1830 and 1945, labor-abundant Britain, the most advanced country, traded heavily with land-abundant countries in the...
Persistent link: https://www.econbiz.de/10005062412
negatively affected by the rise of China. Using a panel data approach, we find that increases in world market shares of China are …
Persistent link: https://www.econbiz.de/10005119337
In the current policy debate, it is often argued that foreign exchange interventions by Asian central banks lead to an excessive appreciation of the euro against the dollar. This paper shows that in a three asset portfolio model the opposite holds: Interventions by Japan's central bank...
Persistent link: https://www.econbiz.de/10005119464