China is transforming itself and the world. This article highlights some of the critical issues facing China, which are discussed in detail by leading scholars in the area in this collection of surveys on the Chinese economy.

The paper critically reviews the literature on the econometric issues raised by the use of generated regressors (GR) in empirical models. The economic rationale for the use of GR is considered, with examples being drawn from several macroeconomic examples, including New Classical Macroeconomic...

Human capital is increasingly believed to play an important role in the growth process, however, adequately measuring its stock remains controversial. In this paper three general approaches to measurement are identified; cost-based, income-based and educational stock-based. This survey focuses on...

This paper discusses the importance of nonlinear dynamics from a theoretical and an empirical point of view. It stresses the need for global as opposed to local analysis and develops the important concept of robustness. Using this concept, the paper argues that much modern macroeconomics can be...