The latest World Bank estimates of real GDP per capita for China are significantly lower than previous ones. We review possible sources of this puzzle and conclude that it reflects a combination of factors, including substitution bias in consumption, reliance on urban prices which we estimate...

type="main" <p>This paper examines the link between trade facilitation and export variety for a broad cross-section of countries. We measure trade facilitation using port efficiency. We also include the bilateral import tariff and OECD membership and regional trade agreements. We find that port...</p>

In this paper we develop a monopolistic competition model where firms exercise their market power across multiple products. Even with CES preferences, markups are endogenous. Firms choose their optimal product scope by balancing the net profits from a new variety against the costs of...

Recent research has demonstrated the importance of institutional quality at the country level for both the volume of trade and the ability to trade in differentiated goods that rely on contract enforcement. This paper takes advantage of cross-provincial variation in institutional quality in...

The latest World Bank estimates of real GDP per capita for China are significantly lower than previous ones. We review possible sources of this puzzle and conclude that it reflects a combination of factors, including substitution bias in consumption, reliance on urban prices which we estimate...

Recent research has demonstrated the importance of institutional quality at the country level for both the volume of trade and the ability to trade in differentiated goods that rely on contract enforcement. This paper takes advantage of cross-provincial variation in institutional quality in...

Comrade Chen Yun, in his recent talks on how to strengthen planned economy, raised some basic issues about economic work at present. What he said bore major significance for both theory and practice. Over the last few years we have followed the correct policy of opening up our economy to the...

In pursuit of the party line laid out at the Third Plenary Session of the Eleventh Congress, the party center in April 1979 called a work conference at which it brought up an eight-character policy, "adjustment, reform, restructuring, and improvement," to deal with the national economy. The...