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Chinese Abstract: 美國次按危機的主要原因是100%的購房貸款,大大增加了違約風險。內地首付貸款以P2P...
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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...
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