Bénassy-Quéré, Agnès; Carton, Benjamin; Gauvin, Ludovic - In: China Economic Review 26 (2013) C, pp. 118-139
Based on simulations of an original DGE model of the US and the Chinese economies under various monetary regimes, we show that an overhaul of China's social safety net is capable of reducing global imbalances whatever the exchange-rate regime, provided international capital flows are allowed to...