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Hong Kong Output Dynamics : An Empirical Analysis

Cheung, Yin-Wong - 2021

Advanced statistical techniques are used to analyze Hong Kong output dynamics. Hong Kong, Japan and the U.S. are found to share some common long-term and short-term cyclical variations. While the Hong Kong economy is susceptible to external shocks and Granger-caused by the other two economies,...

Persistent link: https://www.econbiz.de/10013321022

The Empirics of China's Outward Direct Investment

Cheung, Yin-Wong - 2013

We investigate the empirical determinants of China's outward direct investment (ODI). It is found that China's investments in developed and developing countries are driven by different sets of factors. Subject to the differences between developed and developing countries, there is evidence that...

Persistent link: https://www.econbiz.de/10013095995

An Output Perspective on a Northeast Asia Currency Union

Cheung, Yin-Wong; Yuen, Jude - 2021

The prospect of creating a currency union consisting of China, Japan, and Korea is evaluated using output data. After a brief discussion on the interactions between the three countries, the study investigates whether these three countries have common synchronous business cycles, which are...

Persistent link: https://www.econbiz.de/10013319088

Deviations from the Law of One Price in Japan

Cheung, Yin-Wong - 2013

Using 25 years of monthly data on individual Japanese retail prices, we study the behavior of product-specific Law of One Price (LOP) deviations. Individual tradable products, compared with nontradables, are more likely to have different distributions of LOP deviations across cities. Their...

Persistent link: https://www.econbiz.de/10012753617

A Reappraisal of the Border Effect on Relative Price Volatility

Cheung, Yin-Wong - 2013

Engel and Rogers (1996) find that crossing the US-Canada border can considerably raise relative price volatility and … that exchange rate fluctuations explain about one-third of the volatility increase. In re-evaluating the border effect …, this study shows that cross-country heterogeneity in price volatility can lead to significant bias in measuring the border …

Persistent link: https://www.econbiz.de/10012754392

Cross-Country Relative Price Volatility : Effects of Market Structure

Cheung, Yin-Wong; Fujii, Eiji - 2021

standard markup pricing model, reductions in market competition, along with increased nominal exchange rate volatility, are …

Persistent link: https://www.econbiz.de/10013318560

The Empirics of China's Outward Direct Investment

Cheung, Yin-Wong; Qian, Xingwang - CESifo - 2009

We investigate the empirical determinants of China’s outward direct investment (ODI). It is found that China’s investments in developed and developing countries are driven by different sets of factors. Subject to the differences between developed and developing countries, there is evidence...

Persistent link: https://www.econbiz.de/10005000386

A Cross-Country Empirical Analysis of International Reserves

Cheung, Yin-Wong - 2013

Using data from more than 100 economies for the period of 1975 to 2005, we conduct an extensive empirical analysis of the determinants of international reserve holdings. Four groups of determinants, namely, traditional macro variables, financial variables, institutional variables, and dummy...

Persistent link: https://www.econbiz.de/10013095899

Dissecting the PPP Puzzle : The Unconventional Roles of Nominal Exchange Rate and Price Adjustments

Cheung, Yin-Wong; Lai, Kon S.; Bergman, U. Michael - 2021

The conventional view, as expounded by sticky-price models, is that price adjustment determines the PPP reversion rate. This study examines the mechanism by which PPP deviations are corrected. Nominal exchange rate adjustment, not price adjustment, is shown to be the key engine governing the...

Persistent link: https://www.econbiz.de/10013319983

Deviations from the Law of One Price in Japan

Cheung, Yin-Wong; Fujii, Eiji - CESifo - 2008

Persistent link: https://www.econbiz.de/10005765970