This paper models the US dollar as a global currency and focuses on the effects of US money supply shock upon China's economy. The special roles of US dollar as a global currency and the special institutional arrangements of China are investigated. Given a positive US money supply shock, both...

There is evidence that suggests that one of the channels through which the exchange rate could have an impact on growth is export product diversification. I distinguish between the variety and concentration dimensions of export diversification and review the theoretical and empirical literature...