Showing 1 - 9 of 9
Since 1980, US wage growth has been fastest in large cities. Empirically, we show that most of this urban-biased growth reflects wage growth at large Business Services firms, which are also the most intensive users of information and communications technology (ICT) capital in the US economy. We...
Persistent link: https://www.econbiz.de/10013388871
Reducing global poverty and addressing climate change and other environmental crises are among the most important challenges facing humanity today. This review article discusses one way in which these problems are intertwined: economic development affects the environment. I synthesize recent...
Persistent link: https://www.econbiz.de/10012616638
The rise of information technology and big data analytics has given rise to "the new economy." But are its economics new? This article constructs a growth model where firms accumulate data, instead of capital. We incorporate three key features of data: 1) Data is a by-product of economic...
Persistent link: https://www.econbiz.de/10012482643
The path of income inequality in post-reform China has been widely interpreted as "China's Kuznets curve." We show that … agrarian policy reforms. Our findings warn against any presumption that the Kuznets process will assure that China has passed …
Persistent link: https://www.econbiz.de/10012616646
This paper studies China's four-fold increase in per capita GDP relative to the U.S. between 1995 and 2019. First, we … argue that China's growth pattern is very similar to that of several other East Asia economies that initially grew very … China's growth path and the growth paths of other East Asia economies at a similar stage of development. The growth paths of …
Persistent link: https://www.econbiz.de/10014322739
This paper reviews recent literature on China's macroeconomic development, emphasizing the critical role of the … gradualist approach over the past four decades. Beyond China's structural transformation, we explore various aspects such as high … illustrates how China's gradual policy reforms, amidst highly imperfect financial markets, have effectively helped spur GDP growth …
Persistent link: https://www.econbiz.de/10014322782
China's remarkable run of persistently high growth in recent decades is all the more stunning in light of the country …
Persistent link: https://www.econbiz.de/10014250169
quality segment in China's export markets, we confirm all four hypotheses. By implication, and unlike in standard CES models …
Persistent link: https://www.econbiz.de/10013388811
We document a process of rapid tertiarization of the Chinese economy since 2005. The employment and value-added shares of the service sector have increased significantly. Moreover, total factor productivity growth has increased faster in the service sector than in the manufacturing sector....
Persistent link: https://www.econbiz.de/10013334489