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Sectoral trends and cycles in Germany
Cheung, Yin-Wong; Westermann, Frank - 2001
We examine the comovements between the output indexes of three German sectors (manufacturing, mining, and agriculture …
Persistent link: https://www.econbiz.de/10011398919
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What do we know about recent exchange rate models? : in-sample fit and out-of-sample performance evaluated
Cheung, Yin-Wong; Chinn, Menzie David; Pascual, Antonio … - 2003
Previous assessments of nominal exchange rate determination have focused upon a narrow set of models typically of the 1970 s vintage, including monetary and portfolio balance models. In this paper we re-assess the in-sample fit and out-of-sample prediction of a wider set of models that have been...
Persistent link: https://www.econbiz.de/10011507659
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Exchange rate dynamics : where is the saddle path?
Cheung, Yin-Wong; Gardeazabal, Javier; Vázquez, Jesús - 2004
Persistent link: https://www.econbiz.de/10011402689
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Exchange rates and Markov switching dynamics
Cheung, Yin-Wong (contributor);  … - 2004
This article presents a systematic and extensive empirical study on the presence of Markov switching dynamics in three dollar-based exchange rates. A Monte Carlo approach is adopted to circumvent the statistical inference problem inherent to the test of regime-switching behavior. Two data...
Persistent link: https://www.econbiz.de/10002521681
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Equity price dynamics before and after the introduction of the euro : a note
Cheung, Yin-Wong; Westermann, Frank - 2001
Daily data from the German and U.S. equity markets before and after the introduction of the Euro are used to study the effect of exchange rate regime choices on equity markets. It is found that, since the introduction of the Euro, the volatility and the persistence of the German stock index have...
Persistent link: https://www.econbiz.de/10011397990
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A tale of two surplus countries : China and Germany
Cheung, Yin-Wong; Steinkamp, Sven; Westermann, Frank - 2019
We analyze current account imbalances through the lens of the two largest surplus countries; China and Germany. We … its current account surplus, Germany’s surplus has continued to increase throughout and after the crisis. Second, for … turned from being undervalued to overvalued, Germany’s currency has erased its level of overvaluation and become undervalued …
Persistent link: https://www.econbiz.de/10012024585