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-for-tat responses between just the US and China would likely leave the dollar's role essentially unchanged. If both countries coordinate …
Persistent link: https://www.econbiz.de/10014322792
China's gradualistic approach allowed the government to learn how the economy reacts to small policy changes, and to …
Persistent link: https://www.econbiz.de/10012455487
added production function of the State Owned (SOE) and Foreign-Funded Enterprises (FFE) in China, 1980s-2007. The transition … associated with the economic reforms in China is estimated applying a curvilinear logistic function, where the speed and the …
Persistent link: https://www.econbiz.de/10012463377
that the only industries in which listed companies in China display strong performance are public utilities, transportation …
Persistent link: https://www.econbiz.de/10012469125
forward. In this paper I illustrate this idea with a study of the People's Republic of China. Under the plan, prices were …
Persistent link: https://www.econbiz.de/10012470915
This paper reviews recent literature on China's macroeconomic development, emphasizing the critical role of the … gradualist approach over the past four decades. Beyond China's structural transformation, we explore various aspects such as high … illustrates how China's gradual policy reforms, amidst highly imperfect financial markets, have effectively helped spur GDP growth …
Persistent link: https://www.econbiz.de/10014322782
This essay written for The New Palgrave dictionary of Ecnomics provides a selective and interpretive account of the development of thought on international financial questions. Attention is focused on the process of international adjustment and on the proper definition of external balance. Since...
Persistent link: https://www.econbiz.de/10012476993
International currencies fulfill different roles in the world economy with important synergies across those roles. We explore the implications of currency hegemony for the external balance sheet of the United States, the process of international adjustment, and the predictability of the US...
Persistent link: https://www.econbiz.de/10012479732
The COVID-19 pandemic spawned a global liquidity crisis in March 2020. The global liquidity crisis was alleviated by the Federal Reserve and other advanced country central banks cooperating by extending the swap lines they developed in the Global Financial Crisis 2007-2008. Central bank...
Persistent link: https://www.econbiz.de/10012482117
In this paper we argue that net capital inflows to the United States did not cause the financial crisis that now engulfs the world economy. A crisis caused by such flows has been widely predicted but that crisis has not occurred. Indeed, the international monetary system still operates in the...
Persistent link: https://www.econbiz.de/10012463916