The World Trade Organization (WTO) is a common institutional framework for worldwide trade in goods and services. In anti-dumping area the U.S. and the European Union (EU) always consider China as non-market economy (NME), which results China suffering a greater loss compared with treating China...

We use a time-varying parameter dynamic factor model with stochastic volatility (DFM-TV-SV) estimated using Bayesian methods to disentangle the relative importance of the common component in FHFA house price movements from state-specific shocks, over the quarterly period of 1975Q2 to 2017Q4. We...

The U.S. economy had experienced the "jobless recovering" after the 1990-1991 and 2001 recessions, which has been constantly puzzling the economists, market analysts, and policymakers. This paper uses a simple hiring game in an efficiency wage model framework to resolve that puzzle. Our...