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Securitized Products, Financial Regulation, and Systemic Risk
Fujii, Mariko - East Asian Bureau of Economic Research (EABER) - 2010
It is widely believed that the practice of securitization is one of the causes that led to the 200708 financial crisis. In this paper, I show that securitized products such as collateralized debt obligations (CDO) are particularly vulnerable to systematic risk and tend to show higher tail risk....
Persistent link: https://www.econbiz.de/10009363853
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Volatility Dynamics in Foreign Exchange Rates : Further Evidence from the Malaysian Ringgit and Singapore Dollar
Ho, Kin-Yip; Tsui, Albert K - East Asian Bureau of Economic Research (EABER) - 2008
The evolution of volatility and correlation patterns of the Malaysian ringgit and the Singapore dollar are analyzed in … volatility and time-varying correlations of financial time series. Consistent with the results of Tse and Tsui (1997), there is … only some weak support for asymmetric volatility in the case of the Malaysian ringgit when the two currencies are measured …
Persistent link: https://www.econbiz.de/10009363796
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Uniform Convergence Rate of the SNP Density Estimator and Testing for Similarity of Two Unknown Densities
Kim, Kyoo il - East Asian Bureau of Economic Research (EABER) - 2006
This paper studies the uniform convergence rate of the turncated SNP (semi-nonparametric) density estimator. Using the uniform convergence rate result we obtain, we propose a test statistic testing the equivalence of two unknown densities where two densities are estimated using the SNP estimator...
Persistent link: https://www.econbiz.de/10009365085
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Delivering Access to Safe Drinking Water and Adequate Sanitation in Pakistan
Khan, Faheem Jehangir; Javed, Yaser - East Asian Bureau of Economic Research (EABER) - 2007
Provision of safe drinking water, adequate sanitation and personal hygiene are vital for the sustainable environmental conditions and reducing the incidence of diarrhoea, malaria, trachoma, hepatitis A & B and morbidity levels. Not having access to water and sanitation is a courteous expression...
Persistent link: https://www.econbiz.de/10009365294
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A Gaussian Test for Cointegration
Abeysinghe, Tilak; Rajaguru, Gulasekaran - East Asian Bureau of Economic Research (EABER) - 2009
We use a mixed-frequency regression technique to develop a test for cointegration under the null of stationarity of the deviations from a long-run relationship. What is noteworthy about this MA unit root test, based on a variance-difference, is that, instead of having to deal with non-standard...
Persistent link: https://www.econbiz.de/10009365337
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A Gaussian Test for Cointegration
Abeysinghe, Tilak; Rajaguru, Gulasekaran - East Asian Bureau of Economic Research (EABER) - 2010
We use a mixed-frequency regression technique to develop a test for cointegration under the null of stationarity of the deviations from a long-run relationship. What is noteworthy about this MA unit root test, based on a variance-difference, is that, instead of having to deal with non-standard...
Persistent link: https://www.econbiz.de/10009365465
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The Euro After Its First Decade : Weathering the Financial Storm and Enlarging the Euro Area
Regling, Klaus; Deroose, Servaas; Felke, Reinhard; … - East Asian Bureau of Economic Research (EABER) - 2010
The first decade of economic and monetary union in Europe (EMU) has been a huge success. EMU has significantly benefited its member countries and accelerated the European integration process. Imbalances within EMUdifferences in growth, inflation, competitiveness, current account and budget...
Persistent link: https://www.econbiz.de/10009363273
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The unemployment challenge : Labour market policies for the recession
Andrews, Grant; Raad, Jean-Pierre de - East Asian Bureau of Economic Research (EABER) - 2009
Over the next year another 50,000 people will become unemployed. The number of unemployed will surpass that of the last recession of 1997-98. To address the unemployment challenge New Zealand needs to supplement existing job search assistance with investment in training and business capital to...
Persistent link: https://www.econbiz.de/10009363345
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Bilateral “WTO-Plus†Free Trade Agreements : The WTO Trade Policy Review of Singapore 2004
Thangavelu, S.M.; Heng, Toh Mun - East Asian Bureau of Economic Research (EABER) - 2005
The World Trade Organisations 2004 Trade Policy Review of Singapore (WTO-TPR Singapore 2004) depicts the small and outward-oriented economy as one of the most open country to international trade and investment. The review highlights the benefits of the outward-oriented strategy that has enabled...
Persistent link: https://www.econbiz.de/10009363378
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Ten Years After : Financial Crisis Redux or Constructive Regional Financial and Monetary Cooperation?
Yap, Josef T. - East Asian Bureau of Economic Research (EABER) - 2007
In response to the 1997 East Asian financial crisis many schemes were initiated to reform the international financial architecture. The proposed reforms had two wideranging objectives : (i) to prevent currency and banking crises and better manage them when they occur; and (ii) to support...
Persistent link: https://www.econbiz.de/10009363549