This book presents a selection of contributions on the timely topic of structural reforms in Western economies, written by experts from central banks, the International Monetary Fund, and leading universities. It includes latest research on the impacts of structural reforms on the market...

Intro -- CESifo Seminar Series -- Contents -- Contributors -- Series Foreword -- Preface -- 1 Introduction -- I China's Exchange Rate Policy -- 2 United States, China, and the Rebalancing Debate: Misalignment, Elasticities, and the Saving-Investment Balance -- 3 The Role of the Chinese Dollar...

This paper investigates the effect of economic policy uncertainty (EPU) on gambling activity in China. Based on a theoretical model, we hypothesize that EPU increases the demand for hope which raises the willingness to pay for lottery tickets, resulting in higher lottery sales. We estimate a...