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between China and the United States from both an asset-market and a labor-market perspective, and compare this to Japan …'s unsuccessful appreciation of the yen. …
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We study how changes in trade barriers contributed to the dynamics of the US trade balance and real exchange rate since 1980 - a period when trade tripled. Using two dynamic trade models, we decompose fluctuations in the trade balance into terms related to trade integration (global and...
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