Abstract: As consumers in countries around the world become increasingly aware of and sensitive to the products that their foreign counterparts consume, a natural question is what predictions do classic trade frameworks hold when incorporating social comparison-based preferences? We analyze this question in a general equilibrium framework for a two-country, tw

During his U.S. presidential campaign Donald Trump threatened China with the imposition of high import tariffs on its exports to the United States. To evaluate the repercussions of such an action, this paper uses Eaton and Kortum's 2002 multi-sector, multi-country general equilibrium model with intersectional linkages to forecast how exports, imports, output, and real wages would change if Trump's threat of 45 percent tariffs is carried out. To view plausible scenarios, we evaluate the case of a

AbstractThis paper uses Bayesian method to estimate European (Monetary) Unioneffect on trade. The high dimensionality of the parameter space when estimatinggravity equations with many dummy variables results in standard hypothesis testswith a large Type I (false positive) error. Bayesian methods are able to handlethis problem; they also provide a principled method of model selection that canbe applied to different specifications of the dummy variables. Bayesian modelselection tests prefer our mo

Investigating the Role of Money in the Identification of Monetary Policy Behavior: A Bayesian DSGE PerspectiveBing Li, Qing Liu Pei Pei, (2020), Investigating the Role of Money in the Identification of Monetary Policy Behavior: A Bayesian DSGE Perspective, Macroeconomic Dynamics, published online by Cambridge University Press.This paper estimates an enriched version of the mainstream medium-scale dynamic stochastic general equilibrium model, which features nonseparability between consumption an

Abstract: As a result of recent advances in historical national accounting, estimates of GDP per capita are now available for a number of European economies back to the medieval period, including Britain, the Netherlands, Italy, and Spain. The approach has also been extended to Asian economies, including India and Japan. So far, however, China, which has been at the center of the Great Divergence debate, has been absent from this approach. This article adds China to the picture, showing that the

Shuyu Wu Qingzhong Pan (2019) Financial Cooperative Potential Between China and Belt and Road Countries, Emerging Markets Finance and Trade, 55:14, 3295-3310.Abstract:Along with the increasingly frequent economic exchanges between China and the Belt and Road countries (BRCs), bilateral and multilateral financial integration within the region has become a current trend. This article quantifies the level of cooperative potential by designing an index based on the investment demand in China and the

We will provide an outlook for China's role in the world economy over the coming decades, an exercise which would not be possible without an analysis of the prospects for China's continued economic growth. Based on international and historical comparisons, we argue that today's China meets all three key conditions for continued economic growth, including a stable government that is supportive of a market economy; high and increasing quality of human capital, and openness to developed economies.

This paper uses data from the China Family Panel Studies (CFPS) of 2010, 2012, 2014 and 2016, to empirically analyse the entrepreneurial behaviour of Chinese people from the perspective of happiness economics.