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Islam --- Muslims --- Hong Kong (China) --- Ethnic relations.
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Income distribution --- Wealth --- Income --- Monetary policy
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We find that from 1995 to 2002 in China, the dispersion of wealth decreased, the moneywealth ratio increased for all wealth levels and the aggregate money-output ratio increased. We develop a two-asset dynamic general equilibrium model in which households face a portfolio adjustment cost and a borrowing constraint. We find that financial development lowers the dispersion of wealth by reducing the precautionary motive of households. In addition, tight monetary policies increase the value of money and thus increase the moneywealth ratio for all wealth levels and the aggregate money-output ratio.
Income distribution --- Wealth --- Income --- Monetary policy --- Aggregate Factor Income Distribution --- Consumption --- Deflation --- Economic Development, Innovation, Technological Change, and Growth --- Economics --- Finance --- Finance: General --- Financial Risk Management --- Fiscal Policy --- Fiscal policy --- Income shocks --- Inflation --- International Financial Markets --- Macroeconomics --- Macroeconomics: Consumption --- National accounts --- Personal income --- Personal Income, Wealth, and Their Distributions --- Price Level --- Prices --- Public Finance --- Saving --- China, People's Republic of
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This important collection of articles by leading Chinese scholars of Islamic studies reflects current thinking about the past and present condition of Islam in China. It has a strong focus on China's north-west, the most important region for the study of Islam in China. Most contributions relate to the Hui (Chinese-speaking) Muslims of Gansu and Qinghai provinces and the Ningxia Hui Autonomous Region but there are also chapters on the Uyghurs of Xinjiang. An important feature of this book is the attention paid to the Sufi orders: the role of these networks, which embody an inner-directed and mystical aspect of Islam, is crucial to the understanding of Muslim communities in both historical and contemporary China. Translated by Alex Chan Ching-shing.
Islam --- S13A/0500 --- History. --- China: Religion--Islam (religious aspects only) --- History
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This important collection of articles by leading Chinese scholars of Islamic studies reflects current thinking about the past and present condition of Islam in China. It has a strong focus on China’s north-west, the most important region for the study of Islam in China. Most contributions relate to the Hui (Chinese-speaking) Muslims of Gansu and Qinghai provinces and the Ningxia Hui Autonomous Region but there are also chapters on the Uyghurs of Xinjiang. An important feature of this book is the attention paid to the Sufi orders: the role of these networks, which embody an inner-directed and mystical aspect of Islam, is crucial to the understanding of Muslim communities in both historical and contemporary China.
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A "stalling" economy has been defined as one that experiences a discrete deterioration in economic performance following a decline in its growth rate to below some threshold level. Previous efforts to identify stalls have focused primarily on the US economy, with the threshold level being chosen endogenously, and have suggested that the concept of a stall may be useful for macroeconomic forecasting. We examine the international evidence for stalling in a panel of 51 economies using two different definitions of a stall threshold (time-invariant and related to lagged average growth rates) and two complementary empirical approaches (insample statistical significance and out-of-sample forecast performance). We find that the evidence for stalling based on time-invariant thresholds is limited: only 12 of the 51 economies in our sample experience statistically significant stalls, and including a stall threshold generally results in only modest improvements to out-ofsample forecast performance. When we instead model the stall threshold as varying with average growth rates, the number of economies with statistically-significant stalls actually declines (to nine), but in 71% of the cases we examine, including a stall threshold results in an improvement in out-of-sample forecast performance.
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