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We examine whether the Chinese exchange rate is misaligned and how Chinese trade flows respond to the exchange rate and to economic activity. We find, first, that the Chinese currency, the renminbi (RMB), is substantially below the value predicted by estimates based upon a cross-country sample,...
Persistent link: https://www.econbiz.de/10010264589
and promotes growth. A stylized model is constructed to illustrate this type of hoarding behavior. The relevance of the …
Persistent link: https://www.econbiz.de/10010276301
and promotes growth. A stylized model is constructed to illustrate this type of hoarding behavior. The relevance of the …
Persistent link: https://www.econbiz.de/10013316903
optimal control/dynamic programming to derive the optimal debt and endogenous growth rate. Examples are given of these …
Persistent link: https://www.econbiz.de/10010261108
Persistent link: https://www.econbiz.de/10009673274
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This paper examines whether growth regressions should incorporate dualism and structural change. If there is a … factor productivity. The paper develops empirical growth models that allow for this effect in a more flexible way than … labour can explain a significant fraction of the international variation in TFP growth. …
Persistent link: https://www.econbiz.de/10010261270
The perpetual inventory method used for the construction of education data per country leads to systematic measurement error. This paper analyses the effect of this measurement error on GDP regressions. There is a systematic difference in the education level between census data and observations...
Persistent link: https://www.econbiz.de/10010270563
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