This study examines the price movement relationship for Chinese firms that cross-list their shares on the Hong Kong Stock Exchange and the Shanghai Stock Exchange or Shenzhen Stock Exchange in mainland China. We estimate the coefficients of adjustment speed between the two markets by conducting...

Using samples of 25 emerging market countries (EMCs) and 22 industrial countries (ICs), we derive currency misalignment from estimating the equilibrium exchange rate based on the purchasing power parity theory and by considering the Balassa–Samuelson effect. We then examine factors affecting...

In this paper, two different versions of the agent-based DSGE (dynamic stochastic general equilibrium) model are studied in comparison The first version is the mesoscopic modeling of market sentiment using the Brock–Hommes adaptive belief system (ABS). The second version is the microscopic...