China–Japan–United States integration amid global rebalancing: A computable general equilibrium analysis

Kawai, Masahiro; Zhai, Fan

doi:10.1016/j.asieco.2009.09.003

Cited by 6 publications

(3 citation statements)

References 11 publications

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“…The importance of this issue has been further underscored in the wake of the U.S. ªnancial crisis, especially in discussions of global rebalancing after the global ªnancial crisis (Kawai and Zhai 2009). …”

Section: A Critical Review Of the Literaturementioning

confidence: 99%

Factor Market Distortion and the Current Account Surplus in China

Huang

Tao

2010

Asian Economic Papers

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China's large current account surpluses not only destabilize its own macroeconomic conditions, but are also a focal point for global rebalancing discussions. Existing explanations by the literature fail either to account for the recent surge or to offer actionablepolicy responses. In this study, we propose an alternative hypothesis: asymmetric market liberalization and associated cost distortions. These distortions are producer subsidy equivalents, which contributed to both extraordinary growth performance and the growing structural imbalances. Our rough estimates of such factor cost distortions offer some explanations for recent movements of the current account. We argue that China needs to adopt a comprehensive reform package to rebalance its economy. (c) 2010 The Earth Institute at Columbia University and the Massachusetts Institute of Technology.

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Section: A Critical Review Of the Literaturementioning

confidence: 99%

Factor Market Distortion and the Current Account Surplus in China

Huang

Tao

2010

Asian Economic Papers

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“…The importance of this issue has been further underscored in the wake of the US financial crisis, especially in discussions of global rebalancing (Kawai and Zhai 2009). …”

Section: A Critical Review Of the Literaturementioning

confidence: 99%

Causes of and Remedies for the People’s Republic of China’s External Imbalances: The Role of Factor Market Distortion

Huang

Tao

2011

SSRN Journal

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in Asian Development Bank InstituteThe Working Paper series is a continuation of the formerly named Discussion Paper series; the numbering of the papers continued without interruption or change. ADBI's working papers reflect initial ideas on a topic and are posted online for discussion. ADBI encourages readers to post their comments on the main page for each working paper (given in the citation below). Some working papers may develop into other forms of publication. This paper is the final version of the output of the joint research project on "Trans-Pacific Rebalancing" by the Asian Development Bank Institute (ADBI) and the Brookings Institution and was presented at a project workshop in Tokyo on 3-4 March 2010. A revised version of the paper was also discussed at the "Asian Economic Panel" meeting in Incheon on 22-23 March 2010. We wish to thank our discussants Shin-ichi Fukada, Liqing Zhang, Bhnupong Nidhiprabha, and Yonghyup Oh for detailed comments on the paper. Barry Bosworth, Masahiro Kawai, Harry Wu, Wing Thye Woo, JoonKyuang Ha, Chalongphob Sussangkarn, Frederick Sjoholm, Ligang Liu, John Knight, Don Hanna, and Premchandra Athukorala also provided useful comments. We also wish to thank the ADBI, the China Center for Economic Research at Peking University, and the China Economy and Business Program at the Australian National University for support at various stages of this research.Huang is professor of economics at the China Center for Economic Research of Peking University. He also holds the Rio Tinto Chair in the Chinese Economy at the Crawford School of Economics and Government of Australian National University.The views expressed in this paper are the views of the authors and do not necessarily reflect the views or policies of ADBI, the Asian Development Bank (ADB), its Board of Directors, or the governments they represent. ADBI does not guarantee the accuracy of the data included in this paper and accepts no responsibility for any consequences of their use. Terminology used may not necessarily be consistent with ADB official terms.Asian Development Bank Institute Kasumigaseki Building 8F 3-2-5 Kasumigaseki, Chiyoda-ku Tokyo 100-6008, JapanTel:+81-3-3593-5500 Fax:+81-3-3593-5571 URL:www.adbi.org E-mail: info@adbi.org AbstractThe current account surplus of the People's Republic of China (PRC) has drawn much foreign and domestic attention. This paper focuses on the reasons and remedies for the PRC's current account su...

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“…Jean et al (2014);Aydin and Acar (2010);Missaglia and Valensisi (2014);Engelbert et al (2014);Braymen (2011);Kawai and Zhai (2009);Lee et al (2009);Chao et al (2006);; Georges et al (2013); Bout et al (2012); Gouel et al (2011); Winchester (2009); Ghosh and Rao (2010); Brockmeier and Pelikan (2008); Ariyasajjakorn et al (2009); Ghosh and Rao (2005); Francois et al (2005); Lee and van der Mensbrugghe (2004); Flaig et al (2013); Perali et al (2012); Kitwiwattanachai et al (2010); Bajo-Rubio and Gmez-Plana (2005). 4 lvarez Martinez and Polo (2012); von Arnim (2009).…”

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Computable General Equilibrium Models for Policy Evaluation and Economic Consequence Analysis

Wing

Balistreri

2018

Oxford Handbooks Online

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This chapter reviews recent applications of computable general equilibrium (CGE) modeling in the analysis and evaluation of policies that affect interactions among multiple markets. At the core of this research is a particular approach to the data and structural representations of the economy, elaborated through the device of a canonical static multiregional model. This template is adapted and extended to shed light on the structural and methodological foundations of simulating dynamic economies, incorporating “bottom-up” representations of discrete production activities, and modeling contemporary theories of international trade with monopolistic competition and heterogeneous firms. These techniques are motivated by policy applications including trade liberalization, development, energy policy and greenhouse gas mitigation, the impacts of climate change and natural disasters, and economic integration and liberalization of trade in services.

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China–Japan–United States integration amid global rebalancing: A computable general equilibrium analysis

Cited by 6 publications

References 11 publications

Factor Market Distortion and the Current Account Surplus in China

Factor Market Distortion and the Current Account Surplus in China

Causes of and Remedies for the People’s Republic of China’s External Imbalances: The Role of Factor Market Distortion

Computable General Equilibrium Models for Policy Evaluation and Economic Consequence Analysis

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