Jane Haltmaier

TL;DR: This article examined Japan's experience in the first half of the 1990s to shed some light on several issues that arise as inflation declines toward zero and concluded that Japan's sustained deflationary slump was very much unanticipated by Japanese policymakers and observers alike, and that this was a key factor in the authorities? failure to provide sufficient stimulus to maintain growth and positive inflation.

TL;DR: This paper examined Japan's experience in the first half of the 1990s to shed some light on several issues that arise as inflation declines toward zero and concluded that Japan's sustained deflationary slump was very much unanticipated by Japanese policymakers and observers alike, and this was a key factor in the authorities' failure to provide sufficient stimulus to maintain growth and positive inflation.

TL;DR: This paper examined whether the growth of potential output also is affected by recessions, whether or not they include financial crises, and found that the depth of a recession has a significant effect on the loss of potential for advanced countries, while the length is important for emerging markets.

Abstract: This paper assesses China's role in Asia as an independent engine of growth, as a conduit of demand from the industrial countries, and as a competitor for export markets. We provide both macroeconomic and microeconomic evidence. The macroeconomic analysis focuses on the impact of U.S. and Chinese demand on the output of the Asian economies by estimating growth comovements and VARs. The results suggest an increasing role of China as an independent source of growth. The microeconomic analysis decomposes trade into basic products, parts and components, and finished goods. We find a large role for parts and components trade consistent with China playing an important and increasing role as a conduit. We also estimate some regressions that show that China's increasing presence in export markets has had a negative effect on exports of some products for some other Asian economies, but not for other products, including those of the important electronic high-technology industry.

TL;DR: In this article, the authors assess China's role in Asia as an independent engine of growth, as a conduit of demand from the industrial countries, and as a competitor for export markets.