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In this paper the oil price-macroeconomy relationship is investigated from a global perspective, by means of a large scale macro-financial-econometric model. In addition to real activity, fiscal and monetary policy responses and labor and financial markets are considered as well. We find that...
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China is undergoing its long-awaited industrial revolution. There is no shortage of commentary and opinion on this … fundamental mechanisms behind China's rapid industrialization. This article reviews the New Stage Theory of economic development …, despite sharp differences in political and institutional conditions. One of the key conclusions exemplified by China …
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