Rezension von : Prasad, Eswar S.: Is the Chinese growth miracle built to last? - In: China Economic Review (Greenwich/Conn.). - 20 (March 2009) 1. - S. 103-123 + Masson, Paul R. ; Dobson, Wendy: Will the renminbi become a world currency? - In: China Economic Review (Greenwich/Conn.). - 20 (March...

The stability and steady-state properties of a small model of the United States and the Rest of the World (MINIMOD) are examined. It is shown that the marginal propensity to consume out of wealth is a crucial parameter, and estimates are chosen to ensure stability of the model. The need to...

What caused Asia's largest economy, once the envy of the world, to lag behind many of the other industrial countries? And why did it take so long for Japan to recover from the bursting of its asset price bubble of the late 1980s? In this volume, a team from the International Monetary Fund...

This paper analyzes the welfare benefits from falling relative prices of IT (information technology) goods across a wide range of countries. We find, using two separate methodologies and datasets, that welfare benefits mainly accrue to users of IT, not their producers, because of falling...

This paper uses vector autoregressions (VARs) to investigate four explanations of the extended slump in Japanese economic activity during the 1990s: the absence of bold and consistent fiscal stimulus; limited room for expansionary monetary policy because of a liquidity trap; asset price...