Population Aging, Health Care, and Fiscal Policy Reform: The Challenges for Japan
In: The Scandinavian Journal of Economics, Volume 121, Issue 2, p. 547-577
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In: The Scandinavian Journal of Economics, Volume 121, Issue 2, p. 547-577
SSRN
In: China economic review, Volume 23, Issue 4, p. 918-927
ISSN: 1043-951X
In: Asian survey, Volume 60, Issue 2, p. 221-244
ISSN: 1533-838X
Despite burgeoning research on the internationalization of the Chinese renminbi, there has been surprisingly little systematic analysis of how the renminbi is actually used in foreign markets. This study provides a cross-country analysis of renminbi use in offshore foreign exchange markets, with special attention to the effects of the cooperative policy measures adopted by China and foreign states to promote the renminbi's international use. We find that a country's participation in the Renminbi Qualified Foreign Institutional Investor scheme (which expands its renminbi investment opportunities) and its establishment of an offshore renminbi clearing bank (which provides better renminbi payment services), but not its entry into a renminbi–local currency swap agreement, facilitate use of the renminbi in its foreign exchange markets. States have played a significant role in the rise of the renminbi as a newly internationalizing currency.
In: Asian survey: a bimonthly review of contemporary Asian affairs, Volume 60, Issue 2, p. 221-244
ISSN: 0004-4687
World Affairs Online
In: Asian Survey 60(2): 221-244, March/April 2020
SSRN
In: Pacific Economic Review, Volume 25, Issue 4, p. 512-538
SSRN
In: Pacific economic review, Volume 25, Issue 4, p. 512-538
ISSN: 1468-0106
AbstractWe study the economic fluctuations in China by using a standard neoclassical general equilibrium model to provide a structural analysis. We have carefully constructed measurements for economic variables from Chinese data to be consistent with the literature. We show that the government spending behaviour plays an important role in accounting for the changes in the pattern of both absolute and relative volatilities. Although we find that a general moderation in economic fluctuations after 1978 can be largely explained by the total factor productivity (TFP) process, TFP itself cannot explain the change in the pattern of relative volatilities. We show that policy changes in government spending can account for the relative volatility divergency. Counterfactual experiments are also provided to discover the role of each factor in explaining the economic fluctuations in China.
In: Review of Development Economics, Volume 22, Issue 3, p. 928-952
SSRN
In: Journal of economic dynamics & control, Volume 45, p. 315-329
ISSN: 0165-1889
In: NBER Working Paper No. w18529
SSRN
Working paper
SSRN