We study the implications of benchmark indexing for emerging economies by focusing on the inclusion of Chinese A-shares in the MSCI EM index. Making use of a rich dataset on fund allocations and flows between 2015 and 2020, we document an escalating weight of Chinese exposure in mutual funds and...

China has become a major player in the global economy. The analysis, based on a new and original database of Chinese macroeconomic surprises, shows the significant impact that these surprises have on equity markets worldwide, as well as on commodity prices, on the US nominal effective exchange...

The rapid rise of Chinese exports over the past two decades has raised concerns for manufacturing employment in high-income countries. Spill-overs beyond manufacturing are an important issue given the large size of the non-traded sector in modern economies and household imperfect spatial...