. Specifically, we use sign restrictions to identify a government revenue shock as well as a government spending shock, while … controlling for a generic business cycle shock and a monetary policy shock. We explicitly allow for the possibility of … announcement effects, i.e., that a current fiscal policy shock changes fiscal policy variables in the future, but not at present …

institutional and structural changes that China has undergone. We find that increases in bank reserve requirements reduce economic … account. Overall, our results indicate that the monetary policy transmission channels in China have moved closer to those of …

Has the expansion in exports affected pollution and health outcomes across different prefectures in China in the two … products: while two prefectures may experience the same shock in dollar terms, the one specializing in the dirty sector has a …