The recent influx of financial capital to China implies expectations of continued real appreciation and, indeed, rapid expansion had previously led to real appreciations elsewhere in East Asia. In a world of open economies and differentiated traded goods, however, development-related...

International pressure to revalue China’s currency stems in part from the expectation that rapid economic growth should be associated with a real exchange rate appreciation. This hinges on the Balassa-Samuelson hypothesis under which economic growth, stemming from improvements in traded sector...

International pressure to revalue China’s currency stems in part from the expectation that rapid economic growth should be associated with a real exchange rate appreciation. This hinges on the Balassa-Samuelson hypothesis under which growth stems from improvements in traded sector productivity...

With exports almost half of its GDP and most of these directed to Europe and North America, negative financial shocks in those regions might be expected to retard China's growth. Yet mitigating factors include the temporary flight of North American and European savings into Chinese investment...

China’s economic growth has, hitherto, depended on its relative abundance of production labour and its increasingly secure investment environment. Within the next decade, however, China's labour force will begin to contract. This will set its economy apart from other developing Asian countries...

This paper investigates the conditions under which partial harmonization for capital taxation is sustained in a repeated interactions model of tax competition when there are three countries asymmetric in repect to their capital endowments. We show that regardless of the structure of the...

This paper uses data from the 2010 American Community Survey (ACS) to study the returns to language skills of child and adult migrants in the US labor market. We employ an instrumental variable strategy, which exploits differences in language acquisition profiles between immigrants from English-...

We use a semi-parametric method to decompose the difference in male and female wage densities into two parts–one explained by characteristics and one which is attributable to differences in returns to characteristics. We learn substantially more about the gender wage gap in France through this...

As debt work-outs facilitate recovery from Asia'a recession, GDP there can be expected to rise and manufactured exports to expand. Asian imports and investment will remain low, however, as crisis-enhanced foreign debt is serviced and domestic savings continue to be sent abroad. Superficially,...

Much recent literature on the wage effects of immigration assumes that the return to capital, and therefore the average wage, is unaffected in the long run. If immigration is modelled as a continuous flow rather than a one off shock, this result does not necessarily hold. A simple calibration...