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The global imbalances of the 2000s and the recent global financial crisis are intimately connected. Both originate in the combination of economic policies adopted by the two key economies, the US and China. Global financial markets served as a transmission belt, both during the boom as during...
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light on the impact of intergenerational transfers on household wealth disparities and on possible reasons for the … substantial differences in household wealth disparities among the 4 countries. Almost all of the evidence I present suggests that … intergenerational transfers have a disequalizing impact on household wealth disparities and promote the transmission of household wealth …
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Foreign influence on South China increasingly disrupted the economy from the late eighteenth century. Many scholars believe the standard of living fell, while others point to positive gains from increased integration with the world economy. The paper estimates the secular trend in the average...
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, we combine historical data on province-level famine exposure with contemporary data on individual wealth. To better … effect on the contemporary wealth of individuals born during this period. Together, the evidence suggests that the famine had … an adverse effect on wealth, and it is even present among the wealthiest cohort of individuals in present-day China. …
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reasons, rural- to-urban migrants are less likely to own housing units in cities and as a result accumulate less wealth. Our … rural hukou owns 310 thousand yuan less housing wealth and 213 thousand yuan less total wealth than comparable household …
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