Research Papers

Trade Reforms and Global Current Account Imbalances

(2012)

Jiandong Ju, Kang Shi, Shang-Jin Wei

While a reduction in import barriers in a partial equilibrium may be thought to lead to an increase in imports and a reduction in trade surplus, the general equilibrium effect can go in the opposite direction. We study how trade reforms affect current accounts by embedding a modified Heckscher-Ohlin...

Altruism, Favoritism, and Guilt in the Allocation of Family Resources: Sophie's Choice in Mao's Mass Send Down Movement

(2010)

Hongbin Li, Mark Richard Rosenzweig, Junsen Zhang

In this paper, we use new survey data on twins born in urban China, among whom many experienced the consequences of the forced mass rustication movement of the Chinesecultural revolution, to identify the distinct roles of altruism and guilt in affecting behavior within families. Based on a model...

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