Economics with policy - international seminar series

Start: 10/12/2017 14:00
End: 10/12/2017 16:00
Location: Budapest XI., Budaörsi út 45. VIII/807. (conference room)



Peter McAdam (Research Department at the European Central Bank)

Anatomy of a "Miracle" - Assessing the Reform Period in China

Abstract: We offer a macroeconomic assessment of China’s Reform Period, highlighting a number of rather neglected channels underlining the Chinese ‘miracle’ growth and assess the optimality of its savings rate. We begin by estimating the key parameter of the supply side of the post-Reform economy. This reveals the relatively high (above unity) value of the elasticity of substitution and the time-varying growth pattern of the economy since the Reform period. We then show how in addition to factor accumulation and technical progress, the elasticity of substitution can itself be a source of growth. We then our framework to help rationalize and justify China’s high and rising savings ratio over the previous decades.

Economics with policy - international seminar series organized by the Centre for Economic and Regional Studies

A monthly event, it features the presentation of an academic paper and a shortdiscussion. In this seminar, papers will be presented on diverse topics from international trade, regional development, competition, game theory to labor markets or education. A one hour presentation will be followed by a moderated policy discussion where the author and the moderator will discuss the policy relevant conclusions and potential applications in the European Union and Hungary.

Territorial Cohesion in Europe - International Conference for the 70th Anniversary of the Transdanubian Research Institute

The Transdanubian Research Institute (recently Department) of the Centre for Economic and Regional Studies Institute for Regional Studies will celebrate the 70th anniversary of its foundation in the year 2013.

Our heartfelt congratulations and best wishes to Professor János Kornai

... on the occasion of his 85th birthday.

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