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Measuring China's Fiscal Policy Stance
Dullien, Sebastian - EconWPA - 2005
deficit or cyclically adjusted budget deficits is misleading in the case of China, since a lot of what usually would be …-cyclical in China over the past two decades. …
Persistent link: https://www.econbiz.de/10005076727
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China's Changing Competitive Position: Lessons from a Unit-Labor- Cost-Based REER
Dullien, Sebastian - EconWPA - 2005
This paper calculates a unit labor-cost based real effective exchange rate for China for the period 1987-2002. It …
Persistent link: https://www.econbiz.de/10005124915
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Does Asian foreign exchange intervention really hurt Europe? Lessons from a three-asset portfolio model
Dullien, Sebastian - EconWPA - 2005
In the current policy debate, it is often argued that foreign exchange interventions by Asian central banks lead to an excessive appreciation of the euro against the dollar. This paper shows that in a three asset portfolio model the opposite holds: Interventions by Japan's central bank...
Persistent link: https://www.econbiz.de/10005119464