The Urban Household Income and Expenditure Surveys, conducted by National Bureau of Statistics, are extensively explored in income distribution studies. However, we find that a survey coverage expansion that includes migrant residents in the urban sample may induce serious data inconsistency...

This paper investigates the possible gains from currency intervention by central banks using atwo-period framework in which a trade surplus in one period must be offset by a trade deficitin the next period. It is shown that when the interest rate is zero, the optimal policy isnonintervention. If...

China’s currency policy has been criticized for its apparent pursuit of mercantile advantage by artificially stimulating exports, which potentially have adverse effects on other economies. While China’s currency policy may have positive output effects, there may be additional...

This paper investigates the role of infrastructure aid to developing countries in a 3x2 model with two traded goods and a nontraded good, with the focus of analysis placed on the effects on real national income and the Dutch disease effect.  It is shown that for a recipient country,...

This paper empirically investigates the determinants of citations based on the publicationof the top 100 most often cited economists. The effects of publication age and author fame onsubsequent citations are found to be positive and significant. Citations are also significantly affectedby...

This paper integrates the decision making of a firm facing production uncertainty into the theory of aggregate supply. This integration has two important policy implications. First, if the aggregate demand is not unitary price elastic, the presence of uncertainty reduces the aggregate supply,...

This paper investigates optimal trade policies for a small open economy with unemployment. When factor prices are rigid, random foreign prices result in random unemployment of resources. The ranking of second-best policies is investigated. If the marginal propensity to consume the importable is...