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Spillovers of the U.S. Subprime Financial Turmoil to Mainland China and Hong Kong SAR

Zhang, Xiaojing - 2009

China and Hong Kong SAR during the subprime crisis. Using both univariate and multivariate GARCH models, this paper finds … that China's stock market is not immune to the financial crisis, as evidenced by the price and volatility spillovers from … the United States than China's returns, and past volatility shocks in the United States have a more persistent effec …

Persistent link: https://www.econbiz.de/10012677827

How Robust are Estimates of Equilibrium Real Exchange Rates : The Case of China

Dunaway, Steven Vincent - 2006

Intro -- Contents -- I. INTRODUCTION -- II. THE MACROECONOMIC BALANCE APPROACH -- III. THE EXTENDED PPP APPROACH: SINGLE-COUNTRY ESTIMATES -- IV. THE EXTENDED PPP APPROACH: PANEL DATA ESTIMATES -- V. CONCLUDING REMARKS -- APPENDIX. METHODOLOGICAL DIFFICULTIES OF DEALING WITH SLOPE HETEROGENEITY...

Persistent link: https://www.econbiz.de/10012690973

Navigating the Evolving Landscape between China and Africa's Economic Engagements

Chen, Wenjie - 2024

China and Africa have forged a strong economic relationship since China's accession to the WTO in 2001. This paper …, especially those heavily dependent on their economic relationship with China. The conclusion offers a discussion of ways how … African countries and China could adapt to the changing relationship …

Persistent link: https://www.econbiz.de/10015058658

Macroeconomic Implications for Hong Kong SAR of Accommodative U.S. Monetary Policy

N'Diaye, Papa M'B. P. - 2009

This paper discusses the potential macroeconomic implications for Hong Kong SAR of accommodative monetary policy in the United States. It shows, through model simulations, that a resumption of the credit channel in Hong Kong SAR has the potential to create inflation in both goods and asset...

Persistent link: https://www.econbiz.de/10012677503

How effective is monetary transmission in low-income countries? : a survey of the empirical evidence

Mishra, Prachi; Montiel, Peter - 2012

This paper surveys the evidence on the effectiveness of monetary transmission in low-income countries. It is hard to come away from this review with much confidence in the strength of monetary transmission in such countries. We distinguish between the ""facts on the ground"" and ""methodological...

Persistent link: https://www.econbiz.de/10009618588

Exchange rate fluctuations and international portfolio rebalancing in Thailand

Gyntelberg, Jacob; Loretan, Mico; Subhanij, Tientip - 2012

We present empirical evidence that the Thai baht's value is driven in part by investors' cross-border equity portfolio rebalancing decisions. Our results are based on comprehensive datasets of FX and stock market transactions undertaken by nonresident investors in Thailand in 2005 and 2006....

Persistent link: https://www.econbiz.de/10009621634

Private information, capital flows, and exchange rates

Gyntelberg, Jacob; Loretan, Mico; Subhanij, Tientip - 2012

We demonstrate empirically that not all capital flows influence exchange rates equally: Capital flows induced by foreign investors' stock market transactions have both an economically significant and a permanent impact on exchange rates, whereas capital flows induced by foreign investors'...

Persistent link: https://www.econbiz.de/10009621637

Exchange rate and foreign interest rate linkages for Sub-Saharan Africa floaters

Thomas, Alun - 2012

The paper considers the determinants of exchange rate movements among sub-Saharan countries that have flexible exchange rate regimes. The determinants are based on the law of one price and interest parity conditions. Results indicate that the exchange rates have responded significantly to...

Persistent link: https://www.econbiz.de/10009621648

FX funding risks and exchange rate volatility : Korea’s case

Ree, Jack Joo K.; Yoon, Kyoungsoo; Park, Hail - 2012

This paper examines how exchange rate volatility and Korean banks' foreign exchange liquidity mismatches interacted with each other during the Global Financial Crisis, and whether the vulnerability stemming from this interaction has been reduced since then. Structural and cyclical changes after...

Persistent link: https://www.econbiz.de/10009679020

Assessing Exchange Rate Competitiveness in the Eastern Caribbean Currency Union

Pineda, Emilio - 2009

This paper uses three methods to assess movements of real exchange rates in the ECCU over time. First, the purchasing power parity hypothesis is tested and then used to provide a benchmark for equilibrium real exchange rates in the region. Second, a fundamentals-based equilibrium real exchange...

Persistent link: https://www.econbiz.de/10012677765

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