Showing 1 - 10 of 32,247
This paper examines the effect of bubble-bursting policy in the case where the central bank sometimes tries to deflate an asset which is not, in fact, overpriced. We consider the case of a “semi-bubble,” where some traders know that an asset is overpriced, but others do not. Unlike most...
Persistent link: https://www.econbiz.de/10015244527
This paper studies how cartel stability is influenced by asymmetric information and communication about demand. Firms in a cartel face fluctuating demand in a repeated game framework. In each period, one randomly chosen firm knows current demand. In this context we consider two different...
Persistent link: https://www.econbiz.de/10011110577
This paper gauges the key determinants of China''s private consumption in relation to GDP using data on the Chinese economy and evidence from other countries'' experiences. The results suggest there is nothing ""special"" about consumption in China. Rather, the challenge is to explain why the...
Persistent link: https://www.econbiz.de/10014402810
This paper assesses the sustainability of China''s export-oriented growth over the medium to longer term. It shows that maintaining the current export-oriented growth would require significant gains in market share through lower prices in a range of industries. This, in turn, could be achieved...
Persistent link: https://www.econbiz.de/10014404301
We investigate the effect of expected short sales and short sales surprises on abnormal securities returns. We then examine the impact of short sales constraints on the informational efficiency of the equity market based on a major hypothesis of Diamond and Verrecchia (1987). We conduct a series...
Persistent link: https://www.econbiz.de/10013120592
This paper gauges the potential effects on employment of rebalancing China's export-oriented growth model toward domestic demand, particularly private consumption. Shifting to a private consumption-led growth likely means more demand for existing and new services as well as reorienting the...
Persistent link: https://www.econbiz.de/10013156100
This paper assesses the sustainability of China's export-oriented growth over the medium to longer term. It shows that maintaining the current export-oriented growth would require significant gains in market share through lower prices in a range of industries. This, in turn, could be achieved...
Persistent link: https://www.econbiz.de/10013156101
This paper assesses the sustainability of China's export-oriented growth over the medium to longer term. It shows that maintaining the current export-oriented growth would require significant gains in market share through lower prices in a range of industries. This, in turn, could be achieved...
Persistent link: https://www.econbiz.de/10013156956
This paper gauges the potential effects on employment of rebalancing China's exportoriented growth model toward domestic demand, particularly private consumption. Shifting to a private consumption-led growth likely means more demand for existing and new services as well as reorienting the...
Persistent link: https://www.econbiz.de/10013156961
We examine changes in bank credit across a wide range of emerging market economies during the last decade. The rich time-series and cross-section information allows us to draw broader lessons compared to many existing researches, which focus on a specific set of emerging market economies or on...
Persistent link: https://www.econbiz.de/10013128574