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Examining The Effects Of External Price Shocks On The Economy Of China By The Use Of A Dynamic Computable General Equilibrium Model
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Book Synopsis Examining the Effects of External Price Shocks on the Economy of China by the Use of a Dynamic Computable General Equilibrium Model by : Nadiya Ivanivna Mankovska
Download or read book Examining the Effects of External Price Shocks on the Economy of China by the Use of a Dynamic Computable General Equilibrium Model written by Nadiya Ivanivna Mankovska and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Within the framework of a dynamic CGE model for the Chinese economy, we simulate increases in global food and energy prices and appreciation of nominal exchange rate. First, our results show that increases in global prices for agricultural products in the last decade had overall positive effects on the Chinese economy: investment growth and an improved trade balance pushed the GDP up. The consumption per capita fell below the benchmark in the short to medium run but overcame this trend in the long run. The food price increases partially explain the consumer price inflation in China and the observed accumulation of foreign asset holdings. We demonstrate that restrictive policy interventions into agricultural markets have harmed the development of China's agricultural sector. Second, in contrast to the impact of increased food prices, higher global prices for energy commodities negatively influenced both the real economy and private incomes in China. Household consumption suffered the most significant effects of reduced GDP growth, . We also find that energy prices were largely responsible for the domestic inflation in the last decade. While the economic growth rate has slowed, the growth itself has continued: positive rates of growth have remained for all economic indicators, suggesting that China's economy has a strong growth foundation and is equipped to meet the challenge of increased energy prices. Third, we found that the recent appreciation of the nominal exchange rate of the yuan, the Chinese national currency, has had contractionary effects on the economy and exacerbated income inequality. Nevertheless, it has appreciably helped to curb inflation and reduced external imbalances. We argue that the yuan appreciation can serve as an effective inflation control instrument that should be accompanied by proper social policies targeting income inequality. In general, China's economy has proved strong enough to respond to global challenges. Most negative effects do not eliminate the positive growth rate but only slow it slightly. Provided proper policies, China has the potential to continue its role as a leading power in the world economy in the decades to come.
Book Synopsis CHINAGEM—A Dynamic General Equilibrium Model of China: Theory, Data and Applications by : Xiujian Peng
Download or read book CHINAGEM—A Dynamic General Equilibrium Model of China: Theory, Data and Applications written by Xiujian Peng and published by Springer Nature. This book was released on 2023-09-24 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains detailed documentation of the CHINAGEM model - a large-scale dynamic computable general equilibrium (CGE) model of China and its applications. Specifically, this book documents the theory and database behind the CHINAGEM model. This book explores the closure development for the four simulation modes of the model including historical, decomposition, forecast and policy simulations, the detailed explanation of how to analyze simulation results, and the extensions of CHINAGEM and their applications. These extensions include several innovative modules and case studies as examples of the application of CHINAGEM. This book provides an entry point for CGE modellers to develop their analytical skills. This book can also be used as a platform for research institutes to develop CGE models suitable for their research portfolio. The module developments included in this book are designed to capture the specific features of the Chinese economy. The applications of these modules chosen in the book cover hot policy issues in China, and the simulation results have valuable policy implications. This book identifies that the CHINAGEM model itself and all the extensions can be used for analysing many new topics and policy issues such as the effects of the USA–China trade war, the effects of Made in China 2025 Plan as well as China’s commitment to the carbon neutrality before 2060 and its economic implications.
Book Synopsis The Effects of External Shocks on the Business Cycle in China : A Structural Change Perspective by : Michael Murach
Download or read book The Effects of External Shocks on the Business Cycle in China : A Structural Change Perspective written by Michael Murach and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Using a CGE Model to Analyse External Shocks in the Reformed Chinese Economy by : Zhaoyang Peng
Download or read book Using a CGE Model to Analyse External Shocks in the Reformed Chinese Economy written by Zhaoyang Peng and published by . This book was released on 1992 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Models of the Chinese Economy by : Peter John Lloyd
Download or read book Models of the Chinese Economy written by Peter John Lloyd and published by Edward Elgar Publishing. This book was released on 2001 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: As Lloyd and Zhang (economics, U. of Melbourne, Australia) note, "[t]he opening of the Chinese economy since 1979 has changed its structure profoundly...." While China is playing an increasingly important role in the world economy, its growing links with the rest of the world have rendered its course more difficult to predict. In 13 papers, international analysts offer dynamic computable general equilibrium modeling for forecasting China's economic growth and structural change; simulations taking into account such factors as foreign direct investments and trade liberalizations; and other econometric models. Replete with supporting figures and tables. c. Book News Inc.
Book Synopsis Modeling Developing Countries' Policies In General Equilibrium by : Jaime De Melo
Download or read book Modeling Developing Countries' Policies In General Equilibrium written by Jaime De Melo and published by World Scientific. This book was released on 2015-02-26 with total page 554 pages. Available in PDF, EPUB and Kindle. Book excerpt: Policies affecting resource allocation across tradable sectors and those affecting the incentives to produce tradable activities are key determinants of macroeconomic balance and growth. Computable general equilibrium models have made significant contributions to both types of policies. With advancements in computing power and software, these models have become easy to implement and are now widespread. The question then is when and how to formulate them to avoid the ‘black box’ syndrome.This book seeks to address these issues through carefully selected essays that analyse how to model general equilibrium linkages in a single economy, across developing and developed economies, and across both micro and macro policies. Micro policies examined include tariffs quotas and VERs, the choice of taxes to maximize government revenue, migration and remittances, and the political economy of tariff setting. Applications on macro policies cover capital inflows, real exchange rate determination, and the modeling of the effects of adjustment policies on income distribution.The book provides insights on the development of a family of models for diverse policy choices, focusing on the ways to model the following: links between tradable and non-tradable activities, labor markets, and portfolio choices given limited capital mobility. Selected essays are all inspired by specific policy problems, including the adaptation to external shocks (i.e. oil), consequences of capital inflows, determinants of migration and associated remittances, the productivity of foreign aid, and rent-seeking activities under trade regimes with non-price trade restrictions. Examples in this book lay out the theoretical foundations, alongside a variety of applications, to help formulate coherent and transparent models for policy analysis. Archetype economies are extensively used to show how differences in economic structure influence the effects of policies. Graduate students and policy analysts interested in modeling will find this a useful compendium of studies.
Book Synopsis The Impact on China's Economy of Its Accession to the WTO by : Hong Zhang
Download or read book The Impact on China's Economy of Its Accession to the WTO written by Hong Zhang and published by . This book was released on 2002 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Effects of External Shocks on the Business Cycle in China by : Michael Murach
Download or read book The Effects of External Shocks on the Business Cycle in China written by Michael Murach and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis A Dynamic Computable General Equilibrium Model of the Chinese Economy by : Xiao-guang Zhang
Download or read book A Dynamic Computable General Equilibrium Model of the Chinese Economy written by Xiao-guang Zhang and published by . This book was released on 1997 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Three Essays on the Impacts of China's Monetary Policy by : Shen Chen (Ph. D.)
Download or read book Three Essays on the Impacts of China's Monetary Policy written by Shen Chen (Ph. D.) and published by . This book was released on 2018 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: China has experienced high speed of economic growth, trying to catch up with the developed countries. Monetary policy has played a more and more important role in China. This dissertation studies the impacts of China's monetary policy on China's housing market, stock market, and China's economic growth. The first essay examines macroeconomic determinants of China's housing price by constructing a VAR model. Granger Causality tests, impulse response functions and variance decompositions are used to analyze the impacts of macroeconomic factors on the housing price. By using the monthly data from 2005 to 2015, the results show that a contractionary monetary policy will cause the growth rate of housing prices to decline in China. However, output growth doesn't play an important role in housing price in China. Besides, it will take about half a year for a contractionary monetary policy to start to influence the housing prices and the effect will last for approximate two years after the policy is initially implemented. The second essay conducts empirical analysis of the influence of economy growth and monetary policy on the stock index in China. From 2008 to 2017, China's GDP growth remained above 6% and China surpassed Japan to become the world's second largest economy in 2011. However, after the financial crisis in 2007 China's stock market remained weak and stock index fluctuated up and down at the level of 2008. Some scholars believe that the downturn of stock market in China is the result of a slowdown in China's economy. And some argue that it can be caused by the government's intervention to stock market. This paper examines the determinant of China's stock index by constructing a VAR model. The results of the empirical study show that none of the real economic variables is a cause of the stock index. And monetary policy doesn't have significant effect on the stock market in China. The third essay employs a Dynamic Stochastic General Equilibrium (DSGE) model with Bayesian approach to model the China economy and to analyze the impacts of monetary policy shocks. The data are on a quarterly basis and from 1992 to 2014. Based on the results of the posterior distributions and impulse response functions, I find that the monetary policy shock does have significant effects on China's output and inflation. However, based on the results of variance decomposition I find that the monetary policy shocks didn't play significant role in China's business cycle. Hence, the monetary policy might not be the major driver for China's economic growth. The reason of the ineffectiveness of China's interest rate policy might be the imperfect financial market and interest rate control in China.
Book Synopsis Introduction to Computable General Equilibrium Models by : Mary E. Burfisher
Download or read book Introduction to Computable General Equilibrium Models written by Mary E. Burfisher and published by Cambridge University Press. This book was released on 2016 with total page 443 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book provides a hands-on introduction to computable general equilibrium (CGE) models, written at an accessible, undergraduate level.
Book Synopsis Chinese Resource Demand Or Commodity Price Shocks by : Renée Fry-McKibbin
Download or read book Chinese Resource Demand Or Commodity Price Shocks written by Renée Fry-McKibbin and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Interactions Between China’s National Emissions Trading Scheme and Electricity Market: Practices and Policies by : Tsun Se Cheong
Download or read book Interactions Between China’s National Emissions Trading Scheme and Electricity Market: Practices and Policies written by Tsun Se Cheong and published by Frontiers Media SA. This book was released on 2023-11-03 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: China’s national carbon market, the world’s largest emissions trading scheme (ETS), kicked off its first online trade recently. This can be called a milestone for the country towards the nation’s goals of having CO2 emissions peak before 2030 and achieving carbon neutrality by 2060. China’s national ETS initially covers the power sector, before being expanded to a much broader set of energy-intensive industries. On one hand, the electricity sector, the largest carbon-emitting industry, is responsible for about 40% of China’s emissions, and it has great significance to response to global climate change. On the other hand, the effectiveness of China’s ETS will rest on how well it is coordinated with power market regulations and policies. In this regard, the deepening of reform, as well as the advanced technology and its applications in the electricity market will add new challenges and opportunities to electricity trade, which, in turn, influences national ETS. Therefore, this brings urgency to accurately capture the dynamic interactions between national ETS and electricity market to transform carbon trading into a practical and effective way to decarbonize the power sector.
Book Synopsis Learning from SARS by : Institute of Medicine
Download or read book Learning from SARS written by Institute of Medicine and published by National Academies Press. This book was released on 2004-04-26 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: The emergence of severe acute respiratory syndrome (SARS) in late 2002 and 2003 challenged the global public health community to confront a novel epidemic that spread rapidly from its origins in southern China until it had reached more than 25 other countries within a matter of months. In addition to the number of patients infected with the SARS virus, the disease had profound economic and political repercussions in many of the affected regions. Recent reports of isolated new SARS cases and a fear that the disease could reemerge and spread have put public health officials on high alert for any indications of possible new outbreaks. This report examines the response to SARS by public health systems in individual countries, the biology of the SARS coronavirus and related coronaviruses in animals, the economic and political fallout of the SARS epidemic, quarantine law and other public health measures that apply to combating infectious diseases, and the role of international organizations and scientific cooperation in halting the spread of SARS. The report provides an illuminating survey of findings from the epidemic, along with an assessment of what might be needed in order to contain any future outbreaks of SARS or other emerging infections.
Book Synopsis The Economic Impacts of Natural Disasters by : Debarati Guha-Sapir
Download or read book The Economic Impacts of Natural Disasters written by Debarati Guha-Sapir and published by Oxford University Press. This book was released on 2013-05-23 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work combines research and empirical evidence on the economic costs of disasters with theoretical approaches. It provides new insights on how to assess and manage the costs and impacts of disaster prevention, mitigation, recovery and adaption, and much more.
Book Synopsis Understanding Risks and Uncertainties in Energy and Climate Policy by : Haris Doukas
Download or read book Understanding Risks and Uncertainties in Energy and Climate Policy written by Haris Doukas and published by Springer. This book was released on 2018-12-10 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book analyzes and seeks to consolidate the use of robust quantitative tools and qualitative methods for the design and assessment of energy and climate policies. In particular, it examines energy and climate policy performance and associated risks, as well as public acceptance and portfolio analysis in climate policy, and presents methods for evaluating the costs and benefits of flexible policy implementation as well as new framings for business and market actors. In turn, it discusses the development of alternative policy pathways and the identification of optimal switching points, drawing on concrete examples to do so. Lastly, it discusses climate change mitigation policies’ implications for the agricultural, food, building, transportation, service and manufacturing sectors.
Download or read book Rebound Effect written by Steve Sorrell and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
