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Why did the Japanese economy stagnate beforeWorldWar II, how did it achieve rapid economic growth after the war, and why did it stagnate again after the 1970s? To answer these questions, I developed a two-country trade model with technology transfer, where firms in a developed country (the U.S.)...
Persistent link: https://www.econbiz.de/10008935745
China's trade surplus is often heavily criticized in political and economic debates, accompanied by claims for a … investigating bilateral trade balances between China and 11 of her main trading partners. Being the first to use structural … variance decompositions. We find a negative reaction of the trade balance when the Chinese RMB appreciates for most of China …
Persistent link: https://www.econbiz.de/10012899706
During the 1997/98 Asian crisis and the 2007-2010 world financial and economic crisis, China has proved to be a … China. The paper explores the current role of China's nominal exchange rate stabilization as stabilizing factor for China … policy coordination between China and the US. The exit from unconventional low interest rate policies in the US combined with …
Persistent link: https://www.econbiz.de/10009012482
In this paper we study the determinants of gross capital flows, project the size of China's international investment … recent proposals by the People's Bank of China. Our analysis shows that China's gross international investment positions … of official foreign reserves, China would be able to earn higher net investment incomes from abroad. Overall, China would …
Persistent link: https://www.econbiz.de/10013107558
Persistent link: https://www.econbiz.de/10008698563
Persistent link: https://www.econbiz.de/10011978769
Despite the large body of work that exists on the impact of exchange rate undervaluation on economic growth, only a mere literature focuses on the potential transmission mechanisms. There are authors who consider the size of the tradable sector as the operative channel through which...
Persistent link: https://www.econbiz.de/10011905657
This paper uses data from an employee tracking survey in China for about 6000 incumbent workers to document their …
Persistent link: https://www.econbiz.de/10013164068
We analyze the impact on productivity in advanced economies of fast-growing trade with China between the mid-1990s and … economies and, similar to Autor, Dorn, and Hanson (2013), exploit exogenous variation in trade with China in a given country …-sector by instrumenting imports from (exports to) China in a given country-sector with the average imports from (exports to …
Persistent link: https://www.econbiz.de/10012950428
We assess the behavior of real effective exchange rates (REERs) of members of the CEMAC zone with respect to their long-term equilibrium paths. A reduced form of the fundamental equilibrium exchange rate (FEER) model is estimated and associated misalignments are derived for the period 1980 to...
Persistent link: https://www.econbiz.de/10011409240