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China, Hong Kong, and Taiwan : a quantitative assessment of real and financial integration
Cheung, Yin-Wong; Chinn, Menzie David; Fujii, Eiji - 2003
The status of real and financial integration of China, Hong Kong, and Taiwan is investigated using monthly data on one … the parity conditions is shrinking over time. In particular, China and Hong Kong appear to have experienced significant …
Persistent link: https://www.econbiz.de/10011514149
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China, Hong Kong, and Taiwan : a quantitative assessment of real and financial integration
Cheung, Yin-Wong; Chinn, Menzie David; Fujii, Eiji - 2003
The status of real and financial integration of China, Hong Kong, and Taiwan is investigated using monthly data on one … the parity conditions is shrinking over time. In particular, China and Hong Kong appear to have experienced significant …
Persistent link: https://www.econbiz.de/10011521444
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China, Hong Kong, and Taiwan : a quantitative assessment of real and financial integration
Cheung, Yin-Wong; Chinn, Menzie David; Fujii, Eiji - 2003
The status of real and financial integration of China, Hong Kong, and Taiwan is investigated using monthly data on one … the parity conditions is shrinking over time. In particular, China and Hong Kong appear to have experienced significant …
Persistent link: https://www.econbiz.de/10001734529
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The Suitability of a Greater China Currency Union
Cheung, Yin-Wong - 2013
The study assesses the level of integration among the three Greater China economies (namely China, Hong Kong, and … Taiwan) and examines the suitability of a Greater China currency union. Currently, the three economies have extensive trade …
Persistent link: https://www.econbiz.de/10012754602
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The Suitability of a Greater China Currency Union
Research, Hong Kong Institute for Monetary and Financial - 2022
California, Santa Cruz).The study assesses the level of integration among the three Greater China economies (namely China, Hong … Kong, and Taiwan) and examines the suitability of a Greater China currency union. Currently, the three economies have …
Persistent link: https://www.econbiz.de/10014048654
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Quo vadis Eurozone? : a reappraisal of the real exchange rate criterion
Boeva, Galina V. - 2012
In 1976 Vaubel suggested using the variation of real exchange rates when evaluating the desirability of a monetary union within a group of currencies (Vaubel 1976). Currency unification is less desirable, the more often real exchange rate adjustments are needed. Ten years later, Mussa...
Persistent link: https://www.econbiz.de/10009671124
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Real and Nominal Divergences in a Monetary Union - An Approach beyond the Theory of Optimum Currency Areas
Koronowski, Adam - 2008
This paper is intended to theoretically present divergent business cycles as effects of a monetary union, even in the absence of asymmetric, exogenous shocks. The main inference form the model developed in this paper says that microeconomic optimization may lead to sub-optimal macro states and...
Persistent link: https://www.econbiz.de/10014219204
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Do Hong Kong Sar and China Constitute An Optimal Currency Area? : An Empirical Test of the Generalized Purchasing Power Parity Hypothesis
Liang, Hong - 1999
The paper explores the behavior of the long-run real exchange rate (RER) of Hong Kong SAR and China by testing the … suggest (1) at present, Hong Kong SAR and China do not satisfy the conditions necessary for forming an optimal currency area …-run elasticity between the RERs of Hong Kong SAR and China is negative …
Persistent link: https://www.econbiz.de/10014401121
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Real Exchange Rate Volatility : Does the Nominal Exchange Rate Regime Matter?
Liang, Hong - 2006
A recent study by Grilli and Kaminsky (1991) argues that real exchange rate (RER) behavior is likely to be dependent on the particular historical period rather than on the nominal exchange rate arrangement itself. This paper reexamines RER behavior using alternative data sets, as well as...
Persistent link: https://www.econbiz.de/10012782130