He, Qing; Tai-Leung Chong, Terence; Shi, Kang - In: China Economic Review 20 (2009) 4, pp. 650-661
This paper investigates the sources of economic fluctuations in China since its reform that started in 1978. Using the framework of a standard neoclassical open economy model with time-varying frictions (wedge), we study the relative contribution of the efficiency, labor, investment and foreign...