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Economics Department Working Paper 124. This paper describes the de facto economic integration taking place between China, Hong Kong China and Chinese Taipei - the "Chinese Economic Area" - and analyses basic factors underlying the process. Even in the face of weak economic performance in OECD countries the integration has helped underpin rapid growth in all three economies, particularly in China's south-eastern provinces. If Chinese
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The omission of household production from national accounts gives a grossly distorted picture of the magnitude, composition and trends of productive activities and of the distribution of incomes. Some approaches to a solution are provided. OECD Economic Studies No. 18.
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There is little evidence that so-called "credibility effects" have altered the trade-off between inflation and employment for countries that have adhered to the exchange rate mechanism of the European Monetary System. OECD Economic Studies No. 18.
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Econometric testing suggests that the trend towards increasing volatility of equity prices has not had strong effects on economic activity. OECD Economic Studies No. 17.
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An examination of factors underlying saving, investment and real interest rates over recent decades suggests that high real interest rates over recent decades suggests that high real interst rates may continue to prevail. Is this a cause for concern? OECD Economic Studies No. 17.
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Econometric tests do not support the standard theories of investment demand. Therefore policies based on these theories may be ineffective. OECD Economic Studies No. 16.
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The rapide progress of financial market deregulation has been accompanied by new and longer-run challenges for monetary policy. OECD Economic Studies No. 15.
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A flow measure suggests that the growth of global portfolios could continue to translate into an important demand for new dollar assets, albeit not sufficient to cover fully the expected financing need. OECD Economic Studies No. 15.
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Do market failures justifies subsidies? OECD Economic Studies No. 14.
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What are the broad magnitudes of the efficiency, income distribution and welfare effects of current OECD agricultural policies? OECD Economic Studies No. 13.