Working Papers

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212004: Deflationary Dynamics in Hong Kong: Evidence from Linear and Neural Network Regime Switching Models

Paul McNelis and Carrie K.C. Chan

212003: Growth and Convergence in a Two-region Moddel: The Hypothetical Case of Korean Unification

Michael Funke and Holger Strulik

212002: Endogenous Exchange Rate Pass-Through When Nominal Prices are Set in Advance

Michael Devereux, Charles Engel and Peter E. Storgaard

202016: Credit Default Swaps, Exacting Creditors and Corporate Liquidity Management

Marti G. Subrahmanyam, Dragon Yongjun Tang and Sarah Qian Wang

202015: Effectiveness of Loan-To-Value Ratio Policy and Its Transmission Mechanism ¨C Empirical Evidence from Hong Kong

Eric Wong, Kelvin Ho and Andrew Tsang

202014: Debt Deleveraging and the Zero Bound: Potentially Perverse Effects of Real Exchange Rate Movements

Paul Luk and David Vines

202013: International Trade Price Stickiness and Exchange Rate and Pass-Through in Micro Data: A Case Study on US-China Trade

Mina Kim, Deokwoo Nam, Jian Wang and Jason Wu

202012: The Chinese Corporate Savings Puzzle: A Firm-Level Cross-Country Perspective

Tamim Bayoumi, Hui Tong and Shang-Jin Wei

202011: Sailing through this Storm? Capital Flows in Asia during the Crisis

Cédric Tille

202010: Human Capital, Endogenous Information Acquisition,and Home Bias in Financial Markets

Isaac Ehrlich, Jong Shin and Yong Yin

202009: Strict and Flexible Inflation Forecast Targets: An Empirical Investigation

Glenn Otto and Graham Voss

202008: Return, Trading Volume, and Market Depth in Currency Futures Markets

Ai-ru (Meg) Cheng and Yin-Wong Cheung

202007: Managing the Monetary Consequences of Reserve Accumulation in Emerging Asia

Alice Ouyang, Ramkishen Rajan and Tom Willett

202005: Output Gaps and Inflation in Mainland China

Stefan Gerlach and Wensheng Peng

202004: Exchange Rate Policy and Endogenous Price Flexibility

Michael B. Devereux

202003: Central Bank Governance: Common Elements or Different Models?

Viv Hall

202002: Signaling versus Commitment Strengthening: Exchange Rate Insurance against Currency Attacks

Y. Chiu

192016: Effects of Monetary Policy Shocks on Exchange Rate in Emerging Countries

Soyoung Kim and Kuntae Lim

192015: Asynchronous Monetary Policies and International Dollar Credit

Dong He, Eric Wong, Andrew Tsang and Kelvin Ho

192014: Assessing the Effectiveness of Date-Based Forward Guidance at the Zero Lower Bound with a Non-Gaussian Affine Term-Structure Model

Tsz-Kin Chung, Cho-Hoi Hui and Ka-Fai Li

192013: How Do Exporters Respond to Antidumping Investigations?

Yi Lu, Zhigang Tao and Yan Zhang

192012: Innovation, Diffusion, and Trade: Theory and Measurement

Ana Maria Santacreu

192011: House Price, Mortgage Premium, and Business Fluctuations

Nan-Kuang Chen, Han-Liang Cheng and Ching-Sheng Mao

192010: What are the Sources of Financing of the Chinese Firms?

Galina Hale and Cheryl Long

192009: Revisiting the Shocking Aspects of Asian Monetary Unification

Hans Genberg and Pierre Siklos

192008: What Future for the Hong Kong Dollar Corporate Bond Market?

Tony Latter

192007: Long-run and Cyclic Movements in the Unemployment Rate in Hong Kong: A Dynamic, General Equilibrium Approach

Michael K. Salemi

192006: Does the Chinese Interest Rate Follow the US Interest Rate?

Yin-Wong Cheung, Dickson Tam and Matthew S. Yiu

192005: Cross-Country Relative Price Volatility: Effects of Market Structure

Yin-Wong Cheung and Eiji Fujii

192004: Application of a Modified TAR Model to CIP Deviations in Asian Data

Elena Tchernykh Branson

192003: Asia's Debt Capital Markets: Appraisal and Agenda for Policy Reform

Paul Lejot, Douglas Arner, Qiao Liu, Mylene Chan and Mshall Mays

192002: Inflation Targeting in China?

Shu-ki Tsang

182016: Dynamic interactions between government bonds and exchange rate expectations in currency options

Cho-Hoi Hui and Edward Tan

182015: Measuring Contagion-Induced Funding Liquidity Risk in Sovereign Debt Markets

Cho-Hoi Hui, Chi-Fai Lo, Xiao-Fen Zheng and Tom Fong

182014: Unconventional Monetary Policy Shocks and the Spillovers to Emerging Markets

Peter Tillmann

182013: CEO Option Compensation, Risk-Taking Incentives, and Systemic Risk in the Banking Industry

Jeong-Bon Kim, Li Li, Mary L. Z. Ma and Frank Song

182012: Capital Inflows and Asset Prices: Evidence from Emerging Asia

Peter Tillmann

182011: Securitization Rating Performance and Agency Incentives

Daniel Roesch and Harald Scheule

182010: What Effect Has Bond Market Development in Emerging Asia Had on the Issuance of Corporate Bonds?

Paul Mizen and Serafeim Tsoukas

182009: Renminbi as an International Currency: Potential and Policy Considerations

Hongyi Chen, Wensheng Peng and Chang Shu

182008: Determinants of Emerging Market Spreads: Domestic, Global Factors, and Volatility

Pierre Siklos

182007: Aspects, Models and Measures for Assessing the Competitiveness of International Financial Services in a Particular Location

George von Furstenberg

182006: The Illusion of Precision and the Role of the Renminbi in Regional Integration

Yin-Wong Cheung, Menzie Chinn and Eiji Fujii

182005: Macroeconomic Volatility, Debt Dynamics, and Sovereign Interest Rate Spreads

Hans Genberg and Astrit Sulstarova

182004: Inflation Inertia- THe Role of Multiple, Interacting Pricing Rigidities

Michael Kumhof

182003: Currency Unions, Trade Flows, and Capital Flows

James Yetman

182002: Do We Really KNow that the WTO Increases Trade?

Andrew Rose

172016: How do housing purchase limits affect firm default risks in Mainland China?

Alfred Wong, David Leung and Calvin Ng

172015: Capital Market Financing, Firm Growth, and Firm Size Distribution

Tatiana Didier, Ross Levine and Sergio Schmukler

172014: Debt Markets in Emerging Economies: Major Trends

Tatiana Didier and Sergio Schmukler