Our study shows that China could contribute to an orderly global rebalancing by a package of policies to stimulate its domestic consumption. These policies include a progressive appreciation of RMB, fiscal stimuli of increasing social expenditures on education, healthcare, social safety net and...

In this paper, we utilise the multi-country version of the NAWM to analyse the impact of globalisation on euro area macroeconomic aggregates. We provide alternative model-based definitions of globalisation associated with an increase in potential output in emerging Asia and its impact on total...

In this paper, we utilise the multi-country version of the NAWM to analyse the impact of globalisation on euro area macroeconomic aggregates. We provide alternative modelbased definitions of globalisation associated with an increase in potential output in emerging Asia and its impact on total...