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Content Type:Conference Paper 

Conference Paper
A quantitative analysis of China’s structural transformation

Between 1978 and 2003 the Chinese economy experienced a remarkable 5.7 percent annual growth of GDP per labor. At the same time, there has been a noticeable transformation of the economy: the share of workers in agriculture decreased from over 70 percent to less than 50 percent. We distinguish three sectors: private agriculture and nonagriculture and public nonagriculture. A growth accounting exercise reveals that the main source of growth was TFP in the private nonagricultural sector. The reallocation of labor from agriculture to nonagriculture accounted for 1.9 percent out of the 5.7 ...
Proceedings , Issue Jun

Conference Paper
Importing technology

We look at disaggregated imports of various types of equipment to make inferences on cross-country differences in the composition of equipment investment. We make three contributions. First, we document large differences in investment composition. Second, we explain these differences as being based on each equipment type's intrinsic efficiency, as well as on its degree of complementarity with other factors whose abundance differs across countries. Third, we examine the implications of investment composition for development accounting, i.e., explaining the cross-country variation in income per ...
Proceedings , Issue Nov

Conference Paper
Near-rationality and inflation in two monetary regimes, comments

Proceedings

Conference Paper
An incentive based theory of bank regulation

Proceedings , Issue Nov

Conference Paper
Price and investment dynamics: theory and plant level data

Proceedings

Conference Paper
Designing state--local fiscal policy for growth and development

Assessing the Midwest Economy , Paper 5

Conference Paper
Lessons from the Japanese main bank system for financial system reform in Poland

Proceedings , Paper 382

Conference Paper
Bond market discipline of banks

Proceedings , Paper 687

Conference Paper
Recent developments in Czechoslovakia

Proceedings - Economic Policy Symposium - Jackson Hole

Conference Paper
Panel remarks: global aspects of unconventional monetary policies

Proceedings - Economic Policy Symposium - Jackson Hole

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