The author provides a detailed insight into productivity, efficiency and growth in the Chinese economy, and offers results on capital stock and ICT capital estimates (at both national and regional levels) which will be an important resource for readers

Der Beitrag des Finanzsystems zu wirtschaftlichem Wachstum und die Bedeutung der Banken sowie des organisierten Kapitalmarkts werden in der ökonomischen Literatur kontrovers diskutiert. Strittig ist insbesondere, ob das kontinentaleuropäische Modell der Universalbanken oder das...

This paper shows that deviations from long-run price stability are optimal in the presence of price stickiness whenever profit and utility flows are discounted at a different rate. In that case, a monetary authority acting under commitment will choose a path for the inflation rate that ends with...