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The 2009 Monetary Stimulus in China

Kaiji Chen, Patrick Higgins, Daniel F. Waggoner, Tao Zha, Mar 21, 2018

Massive monetary injections occurred in 2009Q1-Q4 as a result of a drastic change in monetary policy causing an unprecedented credit expansion in 2009-2011, which stimulated economic growth in the short-run. New credit was disproportionately allocated to real estate and its supporting heavy industries and fueled a sharp rise in land prices. The long-lasting consequence of this monetary stimulus resulted in a twin problem facing China: the high investment-to-GDP and debt-to-GDP ratios.

The Impact of Hybrid Working on Employee Retention and Performance

Nicholas Bloom, Ruobing Han, James Liang, Aug 21, 2024

This article discusses that a flexible hybrid working arrangement significantly enhances job satisfaction and employee retention rates without compromising performance and promotion.

The Rise and Fall of Imperial China

Yuhua Wang, Dec 21, 2022

Why do some states stay intact for centuries, while others fall relatively soon after they are founded?

Tariff Passthrough at the Border and at the Store: Evidence from US Trade Policy

Alberto Cavallo, Gita Gopinath, Brent Neiman, Jenny Tang, Sep 02, 2020

We study the impact of recent tariffs on US prices at the border and at the store. Our results imply that, so far, the tariffs’ incidence has fallen in large part on US firms.