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While China has made great strides in transforming its centrally-planned economy to a market-oriented economy, there … competition and social welfare in the context of China's automobile market. This market exhibits a salient feature that vehicle …
Persistent link: https://www.econbiz.de/10012949439
We present a model of shadow banking in which financial intermediaries originate and trade loans, assemble these loans into diversified portfolios, and then finance these portfolios externally with riskless debt. In this model: i) outside investor wealth drives the demand for riskless debt and...
Persistent link: https://www.econbiz.de/10013123980
We develop a theoretical model to study how changes in the durability of the goods affects prices of stolen goods, the incentives to steal and the equilibrium crime rate. When studying the production of durable goods, we find that the presence of crime affects consumer and producer surplus and...
Persistent link: https://www.econbiz.de/10012980184
Using comprehensive loan-level data in China, we investigate how the deregulation on bank entry barriers alters local …
Persistent link: https://www.econbiz.de/10014256421
This paper proposes a simple theory of a system of cities that decomposes the determinants of the city size distribution into three main components: efficiency, amenities, and frictions. Higher efficiency and better amenities lead to larger cities, but also to greater frictions through...
Persistent link: https://www.econbiz.de/10013135055
This paper presents a simple model of how a small open economy can undervalue its real exchange rate using its capital account policies. The paper presents several properties of such policies, and proposes a rule of thumb to assess their welfare cost. The model is applied to an analysis of...
Persistent link: https://www.econbiz.de/10013100363
Because China's economic structure is different from that in OECD countries, using conventional neo … fully representative of modern China, but it does go some way beyond simple competitive models used elsewhere and points to … exchange rate have more impact on China's welfare than tariff liberalization. Policies of RMB appreciation and increasing China …
Persistent link: https://www.econbiz.de/10013150911
Currently proposals are actively circulating in China to move to a unified enterprise tax structure with similar tax …
Persistent link: https://www.econbiz.de/10012777653
We note the absence of prior literature on analytical structures to be used for China and other economies with …
Persistent link: https://www.econbiz.de/10012778093
This paper explores the potential impacts on both China and other major countries of possible mega trade deals. These …-participation countries will lose. If non-tariff barriers are reduced more, the impacts will be larger. All effects to China on welfare, trade …, export and import are positive. Comparatively China-TPP and RCEP will yield the highest welfare outcomes for the US in our …
Persistent link: https://www.econbiz.de/10013048108