Showing 1 - 10 of 125
Private consumption is a key component in the rebalancing of growth that China is seeking, and a challenging one. Not …. Understanding what drove the consumption share down to a mere 36% of GDP in China is thus vital. This brief explores the many … reasons for the high precautionary savings that followed in the wake of the reform process in China. In particular, the …
Persistent link: https://www.econbiz.de/10011291913
China's economy slowed significantly in the first three quarters of 2012 and questions have been raised on a possible … understand what is driving this slowdown and how lasting it may be given China's importance as an engine for global growth. Is …
Persistent link: https://www.econbiz.de/10011298658
Since the release of the 12th Five-Year Plan in 2011, a reform of China's household registration system – the so … so far (beyond some experiments at the provincial level). In the context of growing urbanisation pressures in China, a …
Persistent link: https://www.econbiz.de/10011298665
China's economy is at a cross roads. The factors that have driven its economic transformation over the last decades are …-income' trap, China's leaders are attempting to engineer a reorientation of the economy towards more sustainable sources of growth …. While considerable success has been achieved, more needs to be done more quickly before the authorities in China can prove …
Persistent link: https://www.econbiz.de/10011298680
The enlargement of the European monetary union to include the accession countries (ACs) will not lead to higher average inflation in the enlarged euro area, but only to inflation redistribution across countries if continuity of the monetary policy framework is preserved. In the short term,...
Persistent link: https://www.econbiz.de/10009639851
Capital quality improvement is a general phenomenon. Therefore quality correction is needed in price indexes. There is substantial evidence of biases in the official price indexes of capital equipment. We apply to euro area statistics estimates of these biases based on US data thus deriving...
Persistent link: https://www.econbiz.de/10009639422
This paper analyses the impact of productivity developments in the United States and the euro area on the euro-dollar exchange rate. The paper presents a new measure of relative average labour productivity (ALP), which does not suffer from the biases implicit in readily available relative ALP...
Persistent link: https://www.econbiz.de/10009639842
The number of variables related to long-run economic growth is large compared with the number of countries. Bayesian model averaging is often used to impose parsimony in the cross-country growth regression. The underlying prior is that many of the considered variables need to be excluded from...
Persistent link: https://www.econbiz.de/10009640306
Banks do not charge explicit fees for many of the services they provide but the service payment is bundled with the offered interest rates. This output therefore has to be imputed using estimates of the opportunity cost of funds. We argue that rather than using the single short-term, low-risk...
Persistent link: https://www.econbiz.de/10009640336
Recent empirical studies on the inflation-growth-relationship underline that inflation has negative growth effects already under relatively modest rates. Most contributions to monetary growth theory, however, have difficulties in explaining such a pattern. It is shown in this paper that this...
Persistent link: https://www.econbiz.de/10009635886