CEMA Working Papers

From China Economics and Management Academy, Central University of Finance and Economics
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617: Currency misalignments, international trade in intermediate inputs, and inflation targeting

Liutang Gong, Chan Wang, Liyuan Wu and Heng-fu Zou

616: The Spirit of Capitalism and Consumption Inequality

Yulei Luo, Jun Nie and Heng-Fu Zou

615: Money, Growth, and Welfare in a Schumpeterian Model with the Spirit of Capitalism

Qichun He, Yulei Luo, Jun Nie and Heng-Fu Zou

614: The spirit of capitalism and optimal capital taxation

Fanghui Li, Gaowang Wang and Heng-Fu Zou

613: Real Estate, Interest Rates, and Crowding-out Effects

Tianye Lin, Yangyang Ji and Sen Zhang

612: Optimal monetary policy cooperation with a global shock and dollar standard

Xiaoyong Cui, Liutang Gong, Chan Wang and Heng-Fu Zou

611: Optimal monetary policy in a model of vertical production and trade with reference currency

Liutang Gong, Chan Wang and Heng-Fu Zou

610: International trade in intermediate inputs and the welfare gains from monetary policy cooperation

Liutang Gong, Jianjian Liu, Chan Wang, Liyuan Wu and Heng-Fu Zou

609: The relative price of investment goods, the price level, and the "slope puzzle"

Sen Zhang, Yangyang Ji and Tianye Lin

608: Capital Controls: Myth and Reality--A Portfolio Balance Approach

Nicolas Magud, Carmen Reinhart and Kenneth Rogoff

607: The Kuznets Curve on Income Distribution Does Not Hold in China: A Critical Assessment

Qichun He and Heng-Fu Zou

606: Central Bank Independence and Inflation: Schumpeterian Theory and Evidence

Qichun He and Heng-Fu Zou

605: Land-price dynamics and macroeconomic fluctuations with nonseparable preferences

Liutang Gong, Chan Wang, Fuyang Zhao and Heng-Fu Zou

604: Optimal monetary policy with international trade in intermediate inputs

Liutang Gong, Chan Wang and Heng-Fu Zou

603: Optimal Exchange-Rate Policy in a Model of Local-Currency Pricing with Vertical Production and Trade

Liutang Gong, Chan Wang and Heng-Fu Zou

602: Optimal Monetary Policy Under a Global Dollar Standard: The Effect of Vertical Trade and Production

Chan Wang and Heng-Fu Zou

601: Does inflation cause growth in the reform-era China? Theory and evidence

Qichun He and Heng-Fu Zou

600: On regional integration, fiscal income, and GDP per capita

Yutao Han and Zhen Song

599: Optimal Income Taxation and Job Choice

Robin Boadway, Zhen Song and Jean-François Tremblay

598: Macroeconomic Dynamics, Finance, and Growth, Part III

Heng-Fu Zou

597: Macroeconomic Dynamics, Finance, and Growth, Part II

Heng-Fu Zou

596: Macroeconomic Dynamics, Finance, and Growth, Part I

Heng-Fu Zou

595: This Time is Different: A Panoramic View of Eight Centuries of Financial Crises

Carmen Reinhart and Kenneth Rogoff

594: Addicted to Dollars

Carmen Reinhart, Kenneth Rogoff and Miguel Savastano

593: Consumption Externality and Indeterminacy under Increasing Returns to Scale and Endogenous Capital Depreciation

Gaowang Wang and Heng-Fu Zou

592: Does Fiscal Decentralization Increase the Investment Rate? Evidence from Chinese Dynamic Panel Data

Qichun He, Meng Sun and Heng-Fu Zou

591: Creative Destruction with Credit Inflation

Qichun He and Heng-Fu Zou

590: The Capital Account Cannot be Freed in China

Chan Wang and Heng-Fu Zou

588: Status Preference and the Effects of Patent Protection: Theory and Evidence

Shiyuan Pan, Mengbo Zhang and Heng-Fu Zou

587: Optimal monetary and tariff policy in open economies

Chan Wang and Heng-Fu Zou

586: Optimal monetary policy in open economies: the role of reference currency in vertical production and trade

Chan Wang and Heng-Fu Zou

585: There is No Such Thing as the Soft Budget Constraint

Changlin Luo and Heng-Fu Zou

584: Fiscal federalism and macroeconomic governance: for better or for worse?

Anwar Shah

583: Carbon taxes, the greenhouse effect, and developing countries

Anwar Shah and Bjorn Larsen

582: Societal Institutions and Tax Effort in Developing Countries

Richard Bird, Jorge Martinez-Vazquez and Benno Torgler

581: Localization and corruption: panacea or pandora's box?

Tugrul Gurgur and Anwar Shah

578: A Polycentric Approach For Coping With Climate Change

Elinor Ostrom

576: Why Doesn't the Kuznets Curve on Income Distribution Hold in Ancient China?

Qichun He and Heng-Fu Zou

575: A Data Set on Income Distribution

Hongyi Li, Lyn Squire, Tao Zhang and Heng-Fu Zou

574: The Effects of Patent Protection: A Growth Model with Status Preference

Shiyuan Pan, Mengbo Zhang and Heng-Fu Zou

573: Education, Worker Productivity, and Income Distribution in China

Belton Fleisher, James Heckman and Heng-Fu Zou

572: Health and Economic Growth

Robert Barro

571: Education and Economic Growth

Robert Barro

570: Effects of smoking and smoking cessation on productivity in China

Hong Wang and Heng-Fu Zou

569: Rural-Urban Education and Health Disparities in China: A Structural Approach

Li Gan, Guan Gong and Heng-Fu Zou

568: Inflation and Economic Growth

Robert Barro

567: Urban Health Service in China

Ling Li and Heng-Fu Zou

566: Social Safety Nets in China

Denis Nitikin and Heng-Fu Zou

565: Reform of Social Security System in China

Nong Zhu and Heng-Fu Zou

564: Education in the Rural Sector of China

Qinghua Zhang and Heng-Fu Zou