China is transitioning toward more inward-focussed growth, causing adverse changes in the product and financial terms of trade in the advanced economies. At the same time, international financial markets tussle between tightening forces associated with the US recovery on the one hand and...

Trade and technology driven increases in skill premia in the older industrial regions since the 1980s have raised the spectre of “skill shortages”, one consequence of which has been freer migration of skilled and professional workers from developing regions. The links between demographic...

Product and financial market integration determine the global implications of China’s recent growth surge and its on-going transition from export led growth. These alter China’s structural imbalance (its excess product supply and excess saving), which in turn shifts the international terms...

Insights into the international implications of China’s entry to the large economy club and the four-region strategic behaviour that results can be derived from applications of the elemental multi-region, macroeconomic simulation model introduced in this paper. It has a global general...

China’s net saving abroad has been slowing and will slow further as its households consume more, its corporations save less and its central and provincial governments continue in combined deficit. These changes are associated with weaker global economic performance but, importantly, they stem...

The retreat from public ownership of service firms and industries has left behind numerous private monopolies and oligopolies supervised by regulatory agencies. Services industries in government and private ownership generate two-thirds of Australia’s value added, while the newly privatised...

While there is much controversy over exchange rates, particularly between the large, advanced economic regions, arguably more important real exchange rates receive comparatively little attention. Traditionally, these are seen to be influenced in the long run by forces that return economies to...

Opinion over the global implications of China’s rise is divided between critics, who see it as having developed at the expense of both investment and employment in the US, Europe and Japan and proponents who emphasise improvements in the terms of trade and reductions to the cost of financing...

Insights into the four-region strategic behaviour that drives global economic performance can be derived from applications of the elemental multi-region, macroeconomic simulation model introduced in this paper. It has a global general equilibrium structure that embodies bilateral linkages...

East Asian, and primarily Chinese and Japanese, excess saving has been comparatively large and controversial since the 1980s. That it has contributed to the decline in the global “natural” rate of interest is consistent with Bernanke’s much debated “savings glut” hypothesis for the...