Using value-added trade data, inter-country input-output tables and China's industrial economic data, this paper systematically studies the impact of servitization of manufacturing on the upgrading of power status in the global value network. The measurement results show that the servitization...

In times when short-term policy rates are at or near the zero lower bound, central banks use unconventional policies such as forward guidance and quantitative easing to influence the slope of the yield curve. In this paper, we analyze the dynamic responses of key U.S. macroeconomic variables to...