A Bridge on Economic Issues between China and the World
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Book Synopsis How Reform Worked in China: The Transition from Plan to Market
Yingyi Qian, May 02, 2018The general lesson from this book is this: for a reform to be successful, it is important to use the universal principles, even if they are not enough by themselves, and it is equally important to find specific ways to implement the reform by fully incorporating the initial historical conditions as well as contemporary constraints. The perspective of reform provided by this book’s analysis on China can also be useful beyond China, precisely because it emphasizes that to make reform work, it is not enough to understand why reform works, but also how reform works.
Anatomy of the CNH-CNY Peg: The Crucial Role of Liquidity Policies
Saleem Bahaj, Ricardo Reis, Jun 26, 2024This article discussing the changes in the exchange rate between the offshore yuan (CNH) and onshore yuan (CNY) help stabilize the CNY-US dollar exchange rate, but they also pose challenges to China's capital controls.
Tariff Passthrough at the Border and at the Store: Evidence from US Trade Policy
Alberto Cavallo, Gita Gopinath, Brent Neiman, Jenny Tang, Sep 02, 2020We 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.
How House Prices Affected China’s Birth Rate Decline
Ziqian Liu, Yu Zhang, Nov 13, 2024The article discusses how house prices have affected China's birth rate and explores the implications for the country's housing market and demographic future.
Chinese Economic Growth Doesn’t Appear Overstated, but Its Heavy Reliance on Credit May Be a Cause for Concern
Hunter Clark, Jeff Dawson, Maxim Pinkovskiy, Xavier Sala-i-Martin, Jun 20, 2017Are China's official GDP growth number exaggerated? Hunter Clark, Jeff Dawson and Maxim Pinkovskiy from the New York Fed and Xavier Sala-i-Martin from Columbia University use satellite measurements of the intensity of China’s nighttime light emissions to proxy for GDP growth. Their estimate of Chinese GDP growth, since 2012, was never appreciably lower, and was in many years higher, than the GDP growth rate reported in the official statistics.
