GRU Working Paper Series

From City University of Hong Kong, Department of Economics and Finance, Global Research Unit
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GRU_2018_018: Equity and Efficiency in the Organization of Firms

Tanjim Hossain, Elizabeth Lyons and Aloysius Siow

GRU_2018_017: Segregating socioeconomic classes leads to an unequal redistribution of wealth

Riccardo Pansini, Marco Campenni and Lei Shi

GRU_2018_016: Macro Aspects of Housing

Charles Leung and Joe Cho Yiu Ng

GRU_2018_015: Commute Time and Labor Supply

Sumit Agarwal, Elvira Sojli and Wing Wah Tham

GRU_2018_014: Biased Beliefs About Random Samples: Evidence from Two Integrated Experiments

Daniel Benjamin, Don A. Moore and Matthew Rabin

GRU_2018_013: A mixture autoregressive model based on Student’s t–distribution

Mika Meitz, Daniel Preve and Pentti Saikkonen

GRU_2018_012: Reaching Up and Reaching Out: The Impact of Competition on Firms’ Productivity and Export Decisions

Eric Osei Opoku, Isabel K. M. Yan and Kate Hydes

GRU_2018_011: The Market for Talent: Competition for Resources and Self- Governance in Teams

Abhijit Ramalingam, Brock Stoddard and James Walker

GRU_2018_010: The RMB Central Parity Formation Mechanism: August 2015 to December 2016

Yin-Wong Cheung, Cho-Hoi Hui and Andrew Tsang

GRU_2018_009: ECB vs Bundesbank: Diverging Tones and Policy Effectiveness

Peter Tillmann and Andreas Walter

GRU_2018_008: Debauchery and Original Sin: The Currency Composition of Sovereign Debt

Charles Engel and Jungjae Park

GRU_2018_007: Reserve Accumulation and Bank Lending: Evidence from Korea

Youngjin Yun

GRU_2018_006: Learning about Term Structure Predictability under Uncertainty

Shuo Cao

GRU_2018_005: Systemic crisis and growth revisited: Has the global financial crisis marked a new era

Sven Steinkamp and Frank Westermann

GRU_2018_004: Monetary Policy Uncertainty and the Response of the Yield Curve to Policy Shocks

Peter Tillmann

GRU_2018_003: Precaution Versus Mercantilism: Reserve Accumulation, Capital Controls, and the Real Exchange Rate

Woo Jin Choi and Alan Taylor

GRU_2018_002: Sudden stops inside and outside the euro area - what a difference TARGET2 makes

Lena Kraus, Juergen Beier and Bernhard Herz

GRU_2018_001: The politics of the globalization backlash: Sources and implications

Jeffry Frieden

GRU_2017_019: Liquidity in FX spot and forward markets

Ingomar Krohn and Vladyslav Sushko

GRU_2017_018: Risk and Return in High-Frequency Trading

Matthew Baron, Björn Hagströmer and Andrei Kirilenko

GRU_2017_017: Business Cycle Synchronisation in a Currency Union: Taking Stock of the Evidence

Nauro Campos, Jarko Fidrmuc and Iikka Korhonen

GRU_2017_016: Uncertainty and sequential outward foreign direct investment

Xingwang Qian and Jianhong Qi

GRU_2017_015: Global Financial Integration, Real Estate Security Returns and Financial Crisis

Yiyi Dong and Charles Leung

GRU_2017_014: Regional Business Cycle Synchronization in Emerging and Developing Countries: Regional or Global Integration? Trade or Financial Integration?

Chi Gong and Soyoung Kim

GRU_2017_013: The Term Structure of Exchange Rate Predictability: Commonality, Scapegoat, and Disagreement

Shuo Cao, Huichou Huang, Ruirui Liu and Ronald MacDonald

GRU_2017_012: Effects of Capital Flow on the Equity and Housing Markets in Hong Kong

Yin-Wong Cheung, Kenneth K. Chow and Matthew S. Yiu

GRU_2017_011: Real Exchange Rate Convergence: The Roles of Price Stickiness and Monetary Policy

Charles Engel

GRU_2017_010: A Rebalancing Chinese Economy: Drivers and Challenges

Guonan Ma, Ivan Roberts and Gerard Kelly

GRU_2017_009: Real Exchange Rates and Sectoral Productivity in the Eurozone

Martin Berka, Michael Devereux and Charles Engel

GRU_2017_008: Financial Globalisation, Monetary Policy Spillovers and Macro-modelling: Tales from 1001 Shocks

Georgios Georgiadis and Martina Jancokova

GRU_2017_007: The Exchange Rate Effects of Macro News after the Global Financial Crisis

Yin-Wong Cheung, Rasmus Fatum and Yohei Yamamoto

GRU_2017_006: Local linkages: The interdependence of foreign and domestic firms

Kate Hynes, Yum K. Kwan and Anthony Foley

GRU_2017_005: International financial flows and the risk-taking channel

Pietro Cova and Filippo Natoli

GRU_2017_004: Remittance Inflows and State-Dependent Monetary Policy Transmission in Developing Countries

Immaculate Machasio and Peter Tillmann

GRU_2017_003: Currency Wars? Unconventional Monetary Policy Does Not Stimulate Exports

Andrew Rose

GRU_2017_002: Measures of Global Uncertainty and Carry-Trade Excess Returns

Kimberly Berg and Nelson Mark

GRU_2017_001: Flipping in the Housing Market

Charles Leung and Chung-Yi Tse

GRU_2016_027: Do Oil Endowment and Productivity Matter for Accumulation of International Reserves?

Rasmus Fatum, Guozhong Zhu and Wenjie Hui

GRU_2016_026: Multilateral loans and interest rates: further evidence on the seniority conundrum

Sven Steinkamp and Frank Westermann

GRU_2016_025: Effects of monetary and macroprudential policies – evidence from inflation targeting economies in the Asia-Pacific region and potential implications for China

Soyoung Kim and Aaron Mehrotra

GRU_2016_024: Quantities and Prices in China’s Monetary Policy Transmission From Window Guidance to Interbank Rates

Naoyuki Yoshino and Stefan Angrick

GRU_2016_023: CURRENCY CO-MOVEMENTS IN ASIA-PACIFIC: THE REGIONAL ROLE OF THE RENMINBI

Daniela Marconi

GRU_2016_022: The effectiveness of monetary policy in China: Evidence from a Qual VAR

Hongyi Chen, Kenneth Chow and Peter Tillmann

GRU_2016_021: Securities Market Regulation and Private Equity Placements in China

G. Nathan Dong, Ming Gu and Hua He

GRU_2016_020: China’s debt challenge: stylised facts, drivers and policy implications

Guonan Ma and James Laurenceson

GRU_2016_019: What account for the differences in rent-price ratio and turnover rate? A search-and-matching approach

Daisy J. Huang, Charles Leung and Chung-Yi Tse

GRU_2016_018: Is the Renminbi a safe haven?

Rasmus Fatum, Yohei Yamamoto and Guozhong Zhu

GRU_2016_017: Does Government Intervention Affect Banking Globalization?

Anya Kleymenova, Andrew Rose and Tomasz Wieladek

GRU_2016_016: Currency Unions and Trade: A Post‐EMU Reassessment

Reuven Glick and Andrew Rose

GRU_2016_015: Like Me, Buy Me: The Effect of Soft Power on Exports

Andrew Rose

GRU_2016_014: Tapering Talk on Twitter and the Transmission to Emerging Economies

Peter Tillmann

GRU_2016_013: China’s Bilateral Currency Swap Lines

Zhitao Lin, Wenjie Zhan and Yin-Wong Cheung

GRU_2016_012: International Reserves, External Debt Maturity, and the Reinforcement Effect for Financial Stability

Xingwang Qian and Andreas Steiner

GRU_2016_011: Can The Chinese Bond Market Facilitate A Globalizing Renminbi?

Guonan Ma and Yao Wang

GRU_2016_010: Demographics and Aggregate Household Saving in Japan, China, and India

Chadwick Curtis, Steven Lugauer and Nelson Mark

GRU_2016_009: China’s Capital Flight: Pre- and Post-Crisis Experiences

Yin-Wong Cheung, Sven Steinkamp and Frank Westermann

GRU_2016_008: Reserve requirements and the bank lending channel in China

Zuzana Fungáčová, Riikka Nuutilainen and Laurent Weill

GRU_2016_007: Monetary policy transmission in China: A DSGE model with parallel shadow banking and interest rate control

Michael Funke, Petar Mihaylovski and Haibin Zhu

GRU_2016_006: Regulatory arbitrage and window-dressing in the shadow banking activities: evidence from China’s Wealth Management Products

Jinghan Cai, Alicia Garcia-Herrero and Le Xia

GRU_2016_005: Exchange Market Pressure in OECD and Emerging Economies: Domestic vs. External Factors and Capital Flows in the Old and New Normal

Joshua Aizenman and Mahir Binici

GRU_2016_004: 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_2016_003: A varying coefficient approach to estimating hedonic housing price functions and their quantiles

Alan T. K. Wan, Shangyu Xie and Yong Zhou

GRU_2016_002: FDI Technology Spillovers, Geography, and Spatial Diffusion

Mi Lin and Yum K. Kwan

GRU_2016_001: Linear programming-based estimators in nonnegative autoregression

Daniel Preve