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We study an overlapping generations model of human capital accumulation with threshold effects using regional data for West Germany. Our basic goal is to shed light on what makes German regions grow. The paper finds that the relative income distribution appears to be stratifying into a trimodal...
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This paper studies monetary policy transmission in China's peer-to-peer lending market. Using spectral measures of … causality, we explore the impacts of Chinese monetary policy shocks on China's P2P market interest rates and lending amounts …. The estimation results indicate significant spectral Granger causality from monetary policy surprises to P2P lending rates …
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The People's Bank of China (PBoC) has taken numerous measures to cushion the impacts of the COVID-19 health crisis on … pricing signals, we employ a dynamic-factor modeling approach to derive an indicator of China's monetary policy stance. Our …
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This paper discusses the macroeconomic effects of China's informal banking regulatory tool “window guidance …
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