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Property Prices and Speculative Bubbles : Evidence From Hong Kong SAR
Duenwald, Christoph - 2000
This paper examines the determinants of residential property prices in Hong Kong SAR during 1980–98. It uses time-series analysis techniques to characterize price developments, establish empirical regularities, and provide measures of the deviations of actual price changes from “trend.”...
Persistent link: https://www.econbiz.de/10014399946
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Measuring Misalignment : Purchasing Power Parity and East Asian Currencies in the 1990's
Chinn, Menzie David - 1999
The concept of purchasing power parity (PPP) is used to evaluate whether eight East Asian currencies were overvalued on the eve of the 1997 crises. The Johansen and Horvath-Watson cointegration test procedures are applied to bilateral and multilateral exchange rates, deflated using CPIs,...
Persistent link: https://www.econbiz.de/10014401020
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Did Output Recover From the Asian Crisis?
Cerra, Valerie - 2003
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/10014404003
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Fading Ricardian equivalence in ageing Japan
Saito, Ikuo - 2016
Japan seems to be turning less Ricardian, a trend set to continue. First, the discount wedge seems to have risen …
Persistent link: https://www.econbiz.de/10011715428
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Winner-Loser Reversals in National Stock Market Indices : Can they Be Explained?
Richards, Anthony J. - 1997
This paper examines possible explanations for “winner–loser reversals” in the national stock market indices of 16 countries. There is no evidence that loser countries are riskier than winner countries either in terms of standard deviations, covariance with the world market or other risk...
Persistent link: https://www.econbiz.de/10014403316
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COVID-19 and SME failures
Kalemli-Ozcan, Sebnem; Gourinchas, Pierre-Olivier; … - 2020
We estimate the impact of the COVID-19 crisis on business failures among small and medium size enterprises (SMEs) in seventeen countries using a large representative firm-level database. We use a simple model of firm cost-minimization and measure each firm's liquidity shortfall during and after...
Persistent link: https://www.econbiz.de/10012391969
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Korea's challenges ahead : lessons from Japan's experience
Zoli, Edda - 2017
This paper draws out the parallels between Korea and Japan in terms of demographics, potential growth, balance sheets …, asset prices and inflation. Korea's demographic trends seem to track Japan's with a lag of about 20 years. Low productivity … reforms. While Korea's corporate balance sheets are stronger than Japan's in the early 1990s, Korea needs to progress with the …
Persistent link: https://www.econbiz.de/10011716396
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Should Korea worry about a permanently weak yen?
Ree, Joo Kyung; Hong, Gee Hee; Choi, Seoeun - 2015
Three years have passed since the Bank of Japan’s asset purchase program was introduced in 2011, causing a sharp … decline in the value of the Japanese Yen. What would be the implications for Japan and Korea’s exporters if the weak Yen is … shocks. We find that if the weak Yen persists, it would strengthen Japan’s price competitiveness over time as export prices …
Persistent link: https://www.econbiz.de/10011447113
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How Does Industrialization Affect the Structure of International Trade? : The Japanese Experience in the Pacific Basin, 1975-85
Shirai, Sayuri - 1994
also uses actual trade data between Japan and Indonesia and between Japan and Korea …
Persistent link: https://www.econbiz.de/10014398066
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Das House-Kapital : a long term housing & macro model
Grossmann, Volker; Steger, Thomas M. - 2017
There are, by now, several long term, time series data sets on important housing and macro variables, such as land prices, house prices, and the housing wealth-to-income ratio. However, an appropriate theory that can be employed to think about such data and associated research questions has been...
Persistent link: https://www.econbiz.de/10011670494