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We test the menu cost model of Ball and Mankiw (1994, 1995), which implies that the impact of price dispersion on inflation should differ between inflation and deflation episodes, using data for Japan and Hong Kong. We use a random crosssection sample split when calculating the moments of the...
Persistent link: https://www.econbiz.de/10011390613
This paper explores the characteristics associated with the formation of bubbles that occurred in the Hong Kong stock market in 1997 and 2007, as well as the 2000 dot-com bubble of Nasdaq. It examines the profitability of Technical Analysis (TA) strategies generating buy and sell signals with...
Persistent link: https://www.econbiz.de/10010326340
This paper explores the use of the anchoring and adjustment heuristic by decision makers in a financial market; in particular, the degree to which horserace bettors anchor their probability judgments on the advantage afforded by a horse's barrier-position. The results suggest that under certain...
Persistent link: https://www.econbiz.de/10010335964
We present an empirical study of loss aversion in the Hong Kong horse betting market. We provide evidence of the presence of loss aversion in a context of complete absence of the favourite-longshot bias. This would suggest that, since loss aversion is a psychological bias, the favourite-longshot...
Persistent link: https://www.econbiz.de/10010335968
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East Asian students regularly take top positions in international league tables of educational performance. Using internationally comparable student-level data, I estimate how family background and schooling policies affect student performance in five high-performing East Asian economies. Family...
Persistent link: https://www.econbiz.de/10010261886
Since 1997 the Hong Kong (HK) government has markedly changed its role from being a mere institution provider to being an active innovation promoter. As such, it has actively implemented innovation policies that focus especially on creating new funding opportunities and establishing several R&D...
Persistent link: https://www.econbiz.de/10010263517
We compare changes in schooling output and in schooling input of six East Asian countries to derive a measure of productivity change. Our results question the impression that all is well with education in East Asia. First, we find that the cognitive achievement of pupils did not change...
Persistent link: https://www.econbiz.de/10010265436
Daß Hongkong-Unternehmen mittelfristige Strategien haben, die viel mehr beinhalten als Intuitiventscheidungen oder nur … die Inanspruchnahme von billigen Arbeitskräften, wird häufig bestritten. Die Ergebnisse einer in Hongkong, Deutschland und … Hongkong reagieren bei ihren organisatorischen Reformen vergleichsweise stark auf Kundendruck und versuchen dabei …
Persistent link: https://www.econbiz.de/10010275195