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Advanced statistical techniques are used to analyze Hong Kong output dynamics. Hong Kong, Japan and the U.S. are found to share some common long-term and short-term cyclical variations. While the Hong Kong economy is susceptible to external shocks and Granger-caused by the other two economies,...
Persistent link: https://www.econbiz.de/10011398863
Advanced statistical techniques are used to analyze Hong Kong output dynamics. Hong Kong, Japan and the U.S. are found to share some common long-term and short-term cyclical variations. While the Hong Kong economy is susceptible to external shocks and Granger-caused by the other two economies,...
Persistent link: https://www.econbiz.de/10013321022
This working paper was written by Yin-Wong Cheung (University of California, Santa Cruz and Hong Kong Institute for Monetary Research).Advanced statistical techniques are used to analyze Hong Kong output dynamics. Hong Kong, Japan and the U.S. are found to share some common long-term and...
Persistent link: https://www.econbiz.de/10014048644
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
Persistent link: https://www.econbiz.de/10001724371
Advanced statistical techniques are used to analyze Hong Kong output dynamics. Hong Kong, Japan and the U.S. are found to share some common long-term and short-term cyclical variations. While the Hong Kong economy is susceptible to external shocks and Granger-caused by the other two economies,...
Persistent link: https://www.econbiz.de/10001590657
Regarding inflation as being a monetary phenomenon in the long-run is a widely-heldDie Aussage, dass Inflation …
Persistent link: https://www.econbiz.de/10012991296
Firms’ market power, measured by markups, has risen substantially and unequally across sectors. To evaluate the implications of these trends for monetary non-neutrality, we develop a quantitative menu cost model that covers multiple sectors with heterogeneous degrees of market competition. Two...
Persistent link: https://www.econbiz.de/10014237117
Regarding inflation as being a monetary phenomenon in the long-run is a widely-held view in modern macro economics. We … analyse this topic by means of a P-star model. Based on the quantity theory of money, this approach explains inflation via a …-specific models for 110 economies, and also a pooled system thereof. We test for cointegration among money, prices, and real output …
Persistent link: https://www.econbiz.de/10001619025
Regarding inflation as being a monetary phenomenon in the long-run is a widely-held view in modern macro economics. We … analyse this topic by means of a P-star model. Based on the quantity theory of money, this approach explains inflation via a …-specific models for 110 economies, and also a pooled system thereof. We test for cointegration among money, prices, and real output …
Persistent link: https://www.econbiz.de/10011419407