Showing 1 - 10 of 283
This paper investigates the extent to which output has recovered from the Asian crisis. A regime-switching approach that introduces two state variables is used to decompose recessions in a set of six Asian countries into permanent and transitory components. While growth recovered fairly quickly...
Persistent link: https://www.econbiz.de/10014073466
There is much speculation regarding a “race for dominance” among financial centers in Asia, arising from the …, however, suggests that there is an alternative prism through which the evolution of financial centers in Asia needs to be …
Persistent link: https://www.econbiz.de/10013049803
. Incorporating AAMs-in particular linking retirement age to life expectancy-can be an important part of pension reforms in Asia. If …
Persistent link: https://www.econbiz.de/10012962162
. But, after the crisis, Asia's sovereign spreads normalized, despite the debt crisis in the euro area, reflecting a fall in …
Persistent link: https://www.econbiz.de/10013124056
Net capital flows to emerging Asia rebounded at a record pace following the global financial crisis, raising concerns …
Persistent link: https://www.econbiz.de/10013102274
Stock markets play a key role in corporate financing in Asia. However, despite their increasing importance in terms of … theory, as well as accounting literature, we find evidence of greater idiosyncratic influences in the pricing of Asia's stock … stock pricing, which suggests that improvements in the regulation of securities markets in Asia could enhance the role of …
Persistent link: https://www.econbiz.de/10013056805
This paper tests for evidence of contagion between the financial markets of Thailand, Malaysia, Indonesia, Korea, and the Philippines. Cross-country correlations among currencies and sovereign spreads are found to increase significantly during the crisis period, whereas the equity market...
Persistent link: https://www.econbiz.de/10013212114
Hong Kong SAR was hit hard by the global financial crisis, which started out in the U.S. and spilled over to the rest of the world. Three years later, vulnerabilities in the euro area's financial system and concerns over a hard landing in Mainland China have started to weigh on Hong Kong's...
Persistent link: https://www.econbiz.de/10013106745
The paper assesses the price and wage flexibility in Hong Kong SAR. At the aggregate level, it compares Hong Kong SAR with the United States, the United Kingdom and Singapore by examining the three commonly used macroeconomic relationships among inflation, unemployment, wage growth, and output...
Persistent link: https://www.econbiz.de/10012962088
During the last decade, Hong Kong SAR has experienced a large increase in house prices and credit, prompting the authorities to respond with several rounds of tightening macroprudential rules and increasing stamp duty taxes. This paper provides a Dynamic Stochastic General Equilibrium (DSGE)...
Persistent link: https://www.econbiz.de/10012938480