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We discuss business cycles in ancient China. Data on Ancient China business cycles are sparse and incomplete and so our … years for OECD countries and with major focus on the 1990's. Here we also probe material on Ancient China to see what is …
Persistent link: https://www.econbiz.de/10013013169
research on China. Second, we document, through various empirical methods, the robust findings about striking patterns of trend … offers a constructive framework for studying China's modern macroeconomy …
Persistent link: https://www.econbiz.de/10013021472
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 …
Persistent link: https://www.econbiz.de/10013046611
fluctuations of China.Institutional subscribers to the NBER working paper series, and residents of developing countries may …
Persistent link: https://www.econbiz.de/10012864144
China’s real estate has been a key engine of its sustained economic expansion. This paper argues, however, that even …
Persistent link: https://www.econbiz.de/10013492182
Can standard business-cycle methodology be applied to China? In this chapter, we address this question by examining the … macroeconomic time series and identifying dimensions in which China differs from economies (such as Canada and the U.S.) that are … typically the subject of business-cycle research. We show that naively applying the standard business-cycle tools to China is no …
Persistent link: https://www.econbiz.de/10013141319
We document that trust in public institutions--and particularly trust in banks, business and government--has declined over recent years. U.S. time series evidence suggests that this partly reflects the pro-cyclical nature of trust in institutions. Cross-country comparisons reveal a clear legacy...
Persistent link: https://www.econbiz.de/10013128268
The continuing adverse labor market effects of the Great Recession have intensified interest in policy efforts to spur job creation. In periods when labor demand and supply are in balance, either hiring credits or worker subsidies can be used to boost employment - hiring credits by reducing...
Persistent link: https://www.econbiz.de/10013128608
Are fluctuations in firms' profitability risk a major cause of regular business cycles? We study this question within the framework of a heterogeneous-firm dynamic stochastic general equilibrium model with fixed capital adjustment costs. In such a model, surprise increases of risk lead to a...
Persistent link: https://www.econbiz.de/10013128887
We document a new business cycle fact: the cross-sectional standard deviation of firm-level investment (investment dispersion) is robustly and significantly procyclical. This makes investment dispersion different from the dispersion of productivity and output growth, which is countercyclical....
Persistent link: https://www.econbiz.de/10013128889