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Much Ado About Nothing : American Jobs and the Rise of Service Outsourcing to China and India
Liu, Runjuan - 2008
China and India have been particularly strong. Then workers in occupations that are exposed to inshoring and offshore …We examine the impact on U.S. labor markets of offshore outsourcing in services to China and India. We also consider … China and India. Using March-to-March matched CPS data for 1996-2006 we examine the impacts on (1) occupation and industry …
Persistent link: https://www.econbiz.de/10012464585
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China's Current Account and Exchange Rate
Cheung, Yin-Wong - 2009
We examine whether the Chinese exchange rate is misaligned and how Chinese trade flows respond to the exchange rate and to economic activity. We find, first, that the Chinese currency, the renminbi (RMB), is substantially below the value predicted by estimates based upon a cross-country sample,...
Persistent link: https://www.econbiz.de/10012463974
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How Distortive are Turnover Taxes? Evidence from Replacing Turnover Tax with VAT
Xing, Jing; Bilicka, Katarzyna A.; Hou, Xipei - National Bureau of Economic Research - 2022
In this paper, we investigate distortions created by turnover taxes. As a natural experiment, we explore a reform that replaced turnover taxes with value-added taxes for some service industries in China, while the taxation of manufacturing industries remained unchanged. The reform increased...
Persistent link: https://www.econbiz.de/10012814425
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Understanding Long-run Price Dispersion
Crucini, Mario J. - 2013
We use a unique panel of retail prices spanning 123 cities in 79 countries from 1990 to 2005, to uncover six novel properties of long-run international price dispersion. First, at the PPP level, virtually all (91.6%) of price dispersion is attributed to service-sector wages, consistent with a...
Persistent link: https://www.econbiz.de/10012459851
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Tertiarization Like China
Chen, Xilu; Pei, Guangyu; Song, Zheng Michael; … - National Bureau of Economic Research - 2022
We document a process of rapid tertiarization of the Chinese economy since 2005. The employment and value-added shares of the service sector have increased significantly. Moreover, total factor productivity growth has increased faster in the service sector than in the manufacturing sector....
Persistent link: https://www.econbiz.de/10013334489
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China's Model of Managing the Financial System
Brunnermeier, Markus K. - 2020
China's economic model involves active government intervention in financial markets. We develop a theoretical framework in which interventions prevent a market breakdown and a volatility explosion caused by the reluctance of short-term investors to trade against noise traders. In the presence of...
Persistent link: https://www.econbiz.de/10012481754
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Pitfalls of a State-Dominated Financial System : The Case of China
Boyreau-Debray, Genevieve - 2005
State-owned financial institutions have been proposed as a way to address market failure, but the recent literature has also highlighted their pathological problems. This paper studies the case of China for pitfalls of a state-dominated financial system, including possible segmentation of the...
Persistent link: https://www.econbiz.de/10012467471
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Financial Dependence and Growth Revisited
Fisman, Raymond - 2003
In this note, we revisit an earlier, highly influential paper on Financial Dependence and Growth by Rajan and Zingales (1998), by re-examining their assumptions, and the robustness of their results to alternative theories and interpretations. We first show that they may be implicitly testing...
Persistent link: https://www.econbiz.de/10012469117
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Financial Intermediation and The Great Depression : A Multiple Equilibrium Interpretation
Cooper, Russell - 1995
This paper explores the behavior of the U.S. economy during the interwar period from the perspective of a model in which the existence of non-convexities in the intermediation process gives rise to a multiplicity of equilibria. The resulting indeterminancy is resolved through a sunspot process...
Persistent link: https://www.econbiz.de/10012473756
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Host-Country Financial Development and Multinational Activity
Bilir, Kamran - 2014
This paper evaluates the influence of host-country financial development on the global operations of multinational firms. Using detailed U.S. data, we provide evidence that host-country financial development increases entry by multinational affiliates, while also decreasing affiliate sales in...
Persistent link: https://www.econbiz.de/10012458618