The transition of China to sustainable growth–implications for the global economy and the euro area
China's rise has been the economic success story of the past four decades but economic
growth has been slowing and domestic imbalances have widened. This paper analyses the …
growth has been slowing and domestic imbalances have widened. This paper analyses the …
Credit expansion and credit misallocation
We develop a general equilibrium model to analyze the interaction between two sectors with
differing degree of financial friction in the context of liquidity injections (credit expansion). We …
differing degree of financial friction in the context of liquidity injections (credit expansion). We …