This Week

Household Finance in China

Russell Cooper, Guozhong Zhu, Sep 20, 2017

We study household financial choices in China and compare them with those in the US. We estimate a structural model where the two countries differ in terms of preferences and institutional arrangements. In the structural estimation, we take into account the effects of important structural changes in the Chinese economy between 1990-2000.

Book Synopsis China’s Monetary Policy and Its RMB Exchange Rate Regime

Guofeng Sun, Sep 20, 2017

With over twenty years of experience at the frontline of China’s monetary policy operations and with two decades of academic research experience, I provide a unique, first-hand perspective on a number of facets dealing with China’s monetary policy and theory. The book opens with an introduction of monetary theories, including my credit monetary theory, followed by a review of some focal issues regarding China’s monetary policy and a discussion of the RMB exchange rate regime and international balance. The book presents China as a country at a crossroads, forced to choose between the free flow of capital and monetary policy independence.

Recent

Credit Expansion and Allocation Dynamics under Economic Stimulus

Lin William Cong, Jacopo Ponticelli, Sep 13, 2017 

Resolving China’s Corporate Debt Problem

Wojciech S. Maliszewski, Serkan Arslanalp, John Caparusso, José Garrido, Si Guo, Joong Shik Kang, W. Raphael Lam, T. Daniel Law, Wei Liao, Nadia Rendak, Philippe Wingender, Jiangyan Yu, Longmei Zhang, Sep 06, 2017 

Are the Most Aggressive Investors in China Actually Informed?

Christian T. Lundblad, Zhishu Yang, Qi Zhang, Aug 30, 2017 

How did China Move Up the Global Value Chains?

Hiau Looi Kee, Heiwai Tang, Aug 30, 2017 

Air Pollution, Health Spending and Willingness to Pay for Clean Air in China

Shanjun Li, Deyu Rao, Nahim Bin Zahur, Panle Jia Barwick, Aug 23, 2017 

Notching R&D Investment with Corporate Income Tax Cuts in China

Zhao Chen, Zhikuo Liu, Juan Carlos Suárez Serrato, Daniel Yi Xu, Aug 16, 2017 

The Two-Pillar Policy for the RMB from December 2015 to May 2017

Urban J. Jermann, Bin Wei, Vivian Zhanwei Yue, Aug 16, 2017