GRU Working Paper Series

From City University of Hong Kong, Department of Economics and Finance, Global Research Unit
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GRU_2020_012: Banking for the Public Good: Access to Credit and the Nonprofit Sector

G. Nathan Dong

GRU_2020_011: The Dynamics of Non-Performing Loans during Banking Crises: A New Database

Anil Ari, Sophia Chen and Lev Ratnovski

GRU_2020_010: Provincial interdependence and China’s “irrational” outward foreign direct investment

Mengheng Liu and Xingwang Qian

GRU_2020_009: High Order Openness

Jean Imbs and Laurent Pauwels

GRU_2020_008: Toward a Macroprudential Regulatory Framework for Mutual Funds

Christos Argyropoulos, Bertrand Candelon, Jean-Baptiste Hasse and Ekaterini Panopoulou

GRU_2020_007: Policy Uncertainty and Foreign Direct Investment

Sangyup Choi, Davide Furceri and Chansik Yoon

GRU_2020_006: Bank Lending Standards, Loan Demand, and the Macroeconomy: Evidence from the Korean Bank Loan Other Survey

Sangyup Choi

GRU_2020_005: Do Elite Colleges Matter? The Impact of Elite College Attendance on Entrepreneurship Decisions and Career Dynamics

Naijia Guo and Charles Leung

GRU_2020_004: Uncovered Interest Rate Parity Redux: Non- Uniform Effects

Yin-Wong Cheung and Wenhao Wang

GRU_2020_003: The Bank of Japan as a Real Estate Tycoon: Large-Scale REIT Purchases

Takahiro Hattori and Jiro Yoshida

GRU_2020_002: Labor Market Dynamics under Technology Shocks: The Role of Subsistence Consumption

Sangyup Choi and Myungkyu Shim

GRU_2020_001: Real Estate Market and Consumption: Macro and Micro Evidence of Japan

Kazuo Ogawa

GRU_2019_031: When education policy and housing policy interact: can they correct for the externalities?

Yifan Gong and Charles Leung

GRU_2019_030: Predicting mid-life capital formation with pre-school delay of gratification and life-course measures of self-regulation

Dan Benjamin, David Laibson, Walter Mischel, Philip K. Peake, Yuichi Shoda, Alexandra Steiny Wellsjo and Nicole L. Wilson

GRU_2019_029: Self-reported wellbeing indicators are a valuable complement to traditional economic indicators but aren’t yet ready to compete with them

Dan Benjamin, Kristen Cooper, Ori Heffetz and Miles Kimball

GRU_2019_028: Post-Crisis Changes in the Pattern of Capital Flows - The Case of Korea

Youngjin Yun

GRU_2019_027: China's Monetary Policy and the Loan Market: How Strong is the Credit Channel in China?

Max Breitenlechner and Riikka Nuutilainen

GRU_2019_026: Who Is Successful in Foreign Exchange Margin Trading? New Survey Evidence from Japan

Bernd Hayo and Kentaro Iwatsubo

GRU_2019_025: Safe U.S. Assets and U.S. Capital Flows

Charles Engel

GRU_2019_024: Forecasting crude oil prices with DSGE models

Michał Rubaszek

GRU_2019_023: Identification and Estimation of Forward-looking Behavior: The Case of Consumer Stockpiling

Andrew Ching and Matthew Osborne

GRU_2019_022: The Role of Global and Domestic Shocks for Inflation Dynamics: Evidence from Asia

David Finck and Peter Tillmann

GRU_2019_021: Dominant-currency pricing and the global output spillovers from US dollar appreciation

Georgios Georgiadis and Ben Schumann

GRU_2019_020: Uncertainty, Financial Markets, and Monetary Policy over the Last Century

Sangyup Choi and Chansik Yoon

GRU_2019_019: Accumulation of foreign currency reserves and risk-taking

Rasmus Fatum and James Yetman

GRU_2019_018: Belt and Road Initiative and Chinese Firms’ Outward Foreign Direct Investment

Shu Yu, Xingwang Qian and Taoxiong Liu

GRU_2019_017: International Bank Lending Channel of Monetary Policy

Silvia Albrizio, Sangyup Choi, Davide Furceri and Chansik Yoon

GRU_2019_016: Facing the Quadrilemma: Taylor Rules, Intervention Policy and Capital Controls in Large Emerging Markets

Fernando Chertman, Michael Hutchison and David Zink

GRU_2019_015: The risk-taking channel of international financial flows

Pietro Cova and Filippo Natoli

GRU_2019_014: On the Effects of the ECB’s Funding Policies on Bank Lending and the Demand for the Euro as an International Reserve

Heather Gibson, Stephen Hall, Pavlos Petroulas and George Tavlas

GRU_2019_013: R* and the Global Economy

Reuven Glick

GRU_2019_012: What do we know about Housing Supply? The case of Hong Kong

Charles Leung, Joe Cho Yiu Ng and Edward Chi Ho Tang

GRU_2019_011: Geographic spread of currency trading: The renminbi and other EM currencies

Yin-Wong Cheung, Robert McCauley and Chang Shu

GRU_2019_010: A Tale of Two Surplus Countries: China and Germany

Yin-Wong Cheung, Sven Steinkamp and Frank Westermann

GRU_2019_009: Monetary policy spillovers, capital controls and exchange rate flexibility, and the financial channel of exchange rates

Georgios Georgiadis and Feng Zhu

GRU_2019_008: Equilibrium real exchange rate estimates across time and space

Christoph Fischer

GRU_2019_007: The Hoarding of International Reserves: It’s a neighborly day in Asia

Yin-Wong Cheung, Xingwang Qian and Eli Remolona

GRU_2019_006: Negative Interest Rate Policy and the Influence of Macroeconomic News on Yields

Rasmus Fatum, Naoko Hara and Yohei Yamamoto

GRU_2019_005: Credit and Fiscal Multipliers in China

Sophia Chen, Lev Ratnovski and Pi-Han Tsai

GRU_2019_004: The Interest Rate Effect on Private Saving: Alternative Perspectives

Joshua Aizenman, Yin-Wong Cheung and Hiro Ito

GRU_2019_003: The role of internally financed capex in rising Chinese corporate debts

Guonan Ma and Jinzhao Chen

GRU_2019_002: Choice with Limited Capacity

Sen Geng and Erkut Ozbay

GRU_2019_001: Global financial interconnectedness: A non-linear assessment of the uncertainty channel

Bertrand Candelon, Laurent Ferrara and Marc Joëts

GRU_2018_026: Can Consumption Growth in China Keep Up As Investment Slows?

Mali Chivakul and Bernhard Kassner

GRU_2018_025: Exchange rate forecasting on a napkin

Michele Ca' Zorzi and Michał Rubaszek

GRU_2018_024: Does a Big Bazooka Matter? Central Bank Balance-Sheet Policies and Exchange Rates

Luca Dedola, Georgios Georgiadis, Johannes Gräb and Arnaud Mehl

GRU_2018_023: Errors in Probabilistic Reasoning and Judgment Biases

Daniel Benjamin

GRU_2018_022: Belief Error and Non-Bayesian Social Learning: An Experimental Evidence

Bogaçhan Çelen, Sen Geng and Huihui Li

GRU_2018_021: Beggar Thy Neighbor or Beggar Thy Domestic Firms? Evidence from 2000-2011 Chinese Customs Data

Rasmus Fatum, Runjuan Liu, Jiadong Tong and Jiayun Xu

GRU_2018_019: Funding Shocks through Cross-border Banking in Asia A Network-based Approach

Estelle Xue Liu and Zijun Liu