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

Original publisher:Shuimu Financial Observation official WeChat account. Translated here from the original Chinese.The dual circulation strategy, in which domestic circulation is the mainstay while receiving support from international circulation, can be regarded as a revision of the international circulation development model of the 1980s.During the early stages of reform and opening up in the 1980s, China’s southeastern coastal areas relied on export processing industries. Both the raw materia

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

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.

Macroeconomic policy framework has played a crucial role in the process of the structural transformation of the Chinese economy over the past four decades. It has done so through what can be summarized as a mix of (1) proactive macroeconomic management to maintain economic stability; (2) financial reform to promote financial deepening, channelling savings into investment and ensuring financial stability; and (3) carefully managed capital account liberalization to promote investment, trade, and i

Presented by the Institute for National and Global Governance and the Academic Center for Chinese Economic Practice and Thinking (ACCEPT) of Tsinghua University

This article puts forward the following six points of view based on related research: First, according to the model-based prediction of the Academic Center for China's Economic Practice and Thinking (ACCEPT), if appropriate policies are introduced, the economic impact of the COVID-19 outbreak will be limited and controllable. If the outbreak is controlled and operations are fully resumed by the end of Q1 or by the end of the first half, the national economic growth will be dragged down by 0.17