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This paper provides an overview of the evolution of macroeconomic thought from 1936, the year John Maynard Keynes published his general theory of employment, interest and money to the year 2010. It explores the reasons for the extension of the business cycle during the postwar period. The paper...
Persistent link: https://www.econbiz.de/10009293018
This paper analyzes the causes and implications of recent financial crises. Financial crises in general lead to changes in both theory and practice of economics. The paper takes an historical overview. The global consensus of economic theory during the 20th century is discussed. The paper...
Persistent link: https://www.econbiz.de/10009145755
It is important to understand the growth process under way in China. However, analyses of Chinese growth became … increasingly more difficult after the real GDP doubling target was announced in 2012 and the official real GDP statistics lost … project Chinese aggregates. Using this provincial data, we build an alternative indicator for Chinese growth that is able to …
Persistent link: https://www.econbiz.de/10012614250
It is important to understand the growth process under way in China. However, analyses of Chinese growth became … increasingly more difficult after the real GDP doubling target was announced in 2012 and the official real GDP statistics lost … project Chinese aggregates. Using this provincial data, we build an alternative indicator for Chinese growth that is able to …
Persistent link: https://www.econbiz.de/10012424978
find that Korea’s declining GDP growth has been accompanied by a sharp decline in capital deepening and an increase in … total factor productivity. By contrast, Jorgenson and Vu’s (2007) decompositions of Korea’s GDP growth find that total …’s hypothesis that competition from Chinese imports may be driving the decline in GDP growth; and briefly presents four other …
Persistent link: https://www.econbiz.de/10005824175
. A decomposition analysis shows that intraprovincial disparities contribute significantly to total regional inequality … is addressed. Using provincial panel data on industrial growth, capital and employment, the impact of inequality on … industrial growth is estimated as affecting technical efficiency and level of technology. The results show a significant positive …
Persistent link: https://www.econbiz.de/10005086436
to launch an infrastructure boom that spurred rapid growth along with massive corruption and financial risks. …
Persistent link: https://www.econbiz.de/10013204780
Why are we rich and others poor? What is preventing the less-developed countries from catching up with the more developed? How did we become rich? Underlying these questions are more fundamental ones: What is the nature of economic progress? What are its causes? I seek the answers to these...
Persistent link: https://www.econbiz.de/10013135194
This paper examines the trial implementation of the Real Estate Tax in Shanghai through analyzing its effects on housing price, its effects on the rigid demand of housing and on housing as an investment option. It also identifies a few reform options if the government chooses to implement the...
Persistent link: https://www.econbiz.de/10013118177
The reason for extending the Value Added Tax (VAT) to the services sector in China is not sufficiently powerful. Just looking at the services sector, substituting the sales tax with a VAT gives rise to many difficulties in terms of system design and implementation, and the possible problems may...
Persistent link: https://www.econbiz.de/10013108355