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.
This article discusses that a flexible hybrid working arrangement significantly enhances job satisfaction and employee retention rates without compromising performance and promotion.
Why do some states stay intact for centuries, while others fall relatively soon after they are founded?
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.