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This article examines the transition from investment-led to consumption-led growth in China. It discusses the historical drivers of China's GDP growth, with a focus on the role of total factor productivity and investment. The article also explores the government's credit and monetary policies that supported investment-driven growth, but had unintended consequences such as crowding out private investment and volatility in the real estate sector. It raises questions about the sustainability of China's growth model and the challenges posed by state-owned enterprises. Additionally, the article discusses the impact of shadow banking activities and changes in loan-to-value policies on the housing market and household consumption. It highlights the risks associated with risky lending practices and the collapse of China Evergrande Group. The relaxation of the loan-to-value policy had distributional effects, favoring middle-aged households over young households. The COVID-19 pandemic further affected household consumption, raising concerns about China's transition to a more balanced and sustainable growth model. [Extracted from the article]

Information about several papers discussed at various program and working group meetings of the National Bureau of Economic Research (NBER) in Cambridge, Massachusetts from March to April 2015 is presented. Topics discussed include business cycles, human capital investment, and U.S.-China trade relationships. The events featured several research presenters including Ariel Dora Stern from Harvard University, Michael Dickstein of NBER, and Illenin Kondo of the U.S. Federal Reserve Board.

The article discusses various meetings of the National Bureau of Economic Research (NBER). It cites the meeting of the NBER's Program on Economic Fluctuations and Growth at the Federal Reserve Bank of San Francisco, California on February 8, 2013. It highlights the meeting of the NBER's Program on Labor Studies, directed by David Card of the University of California, Berkeley.

The article explores the potential risk of fiscal stress and uncertainty about inflation policy regimes and fiscal-monetary interactions in several countries. It discusses the implications for inflation from fiscal stress and central bank's loss of control over inflation. It demonstrates the potential of inflation to exist for reasons beyond the control of central banks and suggests that their efforts to offset inflation through monetary policy cannot succeed if fiscal policies are inconsistent.

A list of the papers discussed in the National Bureau of Economic Research's (NBER) Program on Economic Fluctuations and Growth meeting, held on October 30, 2015 in New York, is presented including "The Dynamics of Inequality" by Xavier Gabaix and "Unemployment (Fears) and Deflationary Spirals" by Wouter den Haan.

The article presents a summary on the research conducted by the author and his colleagues regarding the variation of income risk over the business cycle. Explored are topics on life cycle risk as well as changes in risk over time. Also presented is a chart depicting the standard deviation and skewness of one-year individual income change.

The article presents a research on labor markets and business cycles in the U.S. It discusses Lucas and Rapping's theory of intertemporal substitution in labor supply which focuses on analyses on employment fluctuations. It examines the cyclical behavior of unemployment and job vacancies. It is inferred that unemployment may be an effect of adverse shocks to the value of human capital and that job vacancies are the inability of business firms to recruit new workers.

Provides information on the Research Program on Economic Fluctuations and Growth (EFG) by the U.S. National Bureau of Economic Research (NBER). Function of the NBER; Definition of a recession; Research groups connected with the EFG program.

The article discusses the use of local and aggregate data to determine drivers of aggregate business cycles and regional consequences of aggregate government policies. Topics discussed include inconsistency of degree of wage stickiness necessary for demand shocks to be cause of decline in aggregate employment during the Great Recession with wage flexibility estimated from cross-state variation, and factors that contributed to decline in U.S. employment rates from 2000-2015.

Highlights the focus of the reports of the participants in a conference on `New Research on Business Cycle' organized by the National Bureau of Economic Research. Presentors; Title of presentation; Discussants; Presentors' affiliations.

The authors present a summary of their research on how stock market and labor market fluctuations affect older workers. Topics include the effect of stock market on retirement decisions, the effect of the labor market on retirement, and the effect of stock and labor markets on the well-being of the retirees.

Information about several papers discussed at the National Bureau of Economic Research (NBER) conference on "Understanding Long-Run Economic Growth: A Conference Honoring the Contributions of Kenneth Sokoloff" organized by NBER on November 7-8 in Los Angeles, California. Topics include the importance of studying economic history and the history of economic institutions. Discussants include Ronald Rogowski, Jeffrey Frieden and Daniel Treisman.

The article examines the impact of the international financial integration and capital flows on economic fluctuations and growth. It compares the effect differ during tranquil times against times of financial crisis. It analyzes the consequences of the international financial integration using both macro-level country data and micro-level firm data.