Lessons from studying a simple macroeconomic model for China
AbstractUpdating (Chow, 1985) and (Chow, 2010), this note finds that (1) the consumption equation continues to hold but the investment equation fails; (2) the investment equation holds if investment data for 2008 and 2009 are revised downward to reflect government expenditures as a part of the stimulus package during the world economic downturn; (3) small errors in one or two observations can reverse the sign of a significant regression coefficient in econometric practice.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 112 (2011)
Issue (Month): 3 (September)
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Web page: http://www.elsevier.com/locate/ecolet
Consumption Investment China Macroeconomy;
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Chow, Gregory C., 2010. "Note on a model of Chinese national income determination," Economics Letters, Elsevier, vol. 106(3), pages 195-196, March.
- Chow, Gregory C, 1985. "A Model of Chinese National Income Determination," Journal of Political Economy, University of Chicago Press, vol. 93(4), pages 782-92, August.
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