The integration of China into the global economy is one of the most spectacular events in economic history. This paper … to explore interdependencies between business cycles in China and industrial countries, including the US, the euro area … and Japan. For robustness, the results are compared to those obtained from leading structural models, such as NiGEM and …

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 …

This paper draws from Japan's recent monetary experiment to examine the effects of an increase in the inflation target … rate shock are needed to successfully account for the behavior of nominal and real variables in Japan since late 2012. Our … analysis indicates that Japan has made some progress towards overcoming deflation, but further measures are needed to raise …

This paper draws from Japan's recent monetary experiment to examine the effects of an increase in the inflation target … rate shock are needed to successfully account for the behavior of nominal and real variables in Japan since late 2012. Our … analysis indicates that Japan has made some progress towards overcoming deflation, but further measures are needed to raise …