WP No.41 / 2011
The Effect of Capital Flow Management Measures in Five Asian Economies on the Foreign Exchange Market
by Matthew S. Yiu
WP No.40 / 2011
Information Flow between Sovereign CDS and Dollar-Yen Currency Option Markets in the Sovereign Debt Crisis of 2009-2011
by Cho-Hoi Hui and Tom Fong
(Published in International Review of Economics and Finance, Vol. 40, (2015), pp. 174–190, with a new title "Price cointegration between sovereign CDS and currency option markets in the financial crises of 2007-2013")
WP No.39 / 2011
Exchange Rates and the Margins of Trade: Evidence from Chinese Exporters
by Heiwai TANG (Research Fellow) and Yifan Zhang
(Published in CESIfo Economic Studies, 58(4), Dec, 2012, pp. 671-702.)
WP No.38 / 2011
The Great Retrenchment: International Capital Flows During the Global Financial Crisis
by Gian-Maria Milesi-Ferretti and Cedric TILLE (Research Fellow)
WP No.37 / 2011
Love Thy Neighbor: Income Distribution and Housing Preferences
(Published in Journal of Housing Economics, Volume 21, Issue 4, December 2012, Pages 322-335)
WP No.36 / 2011
Exchange Rate Dynamics Under Alternative Optimal Interest Rate Rules
by Mahir Binici and Yin-Wong CHEUNG (Research Fellow)
(Published in Pacific-Basin Finance Journal, Volume 20, Issue 1, January 2012, Pages 122–150)
WP No.35 / 2011
Preference Relativity, Ambiguity and Social Welfare Evaluation
WP No.34 / 2011
The Cross-Section of Country News, Decoupling Expectations, and Global Business Cycles
WP No.33 / 2011
Explaining Share Price Disparity with Parameter Uncertainty: Evidence from Chinese A- and H-Shares
by Tsz-Kin CHUNG, Ka-Fai LI and Cho-Hoi HUI
(Published in the Journal of Banking and Finace, Vol. 37, (2013), pp. 1073–1083.)
WP No.32 / 2011
Geopolitics, Global Patterns of Oil Trade, and China’s Oil Security Quest
WP No.31 / 2011
Give Credit where Credit is Due: Tracing Value Added in Global Production Chains
by Robert Koopman, William Powers, Zhi Wang and Shang-jin WEI (Research Fellow)
WP No.30 / 2011
Sectoral Labor Adjustment and Monetary Policy in a Small Open Economy
(Published in the Journal of Macroeconomics, Volume 33, Issue 4, December 2011, Pages 634–643)
WP No.29 / 2011
Equity Prices and Equity Flows: Testing Theory of the Information-Efficiency Tradeoff
by Assaf RAZIN (Research Fellow) and Anuk Serechetapongse
WP No.28 / 2011
Anchoring and Loss Aversion in the Housing Market: Implications on Price Dynamics
WP No.27 / 2011
The Real Exchange Rate, Real Interest Rates, and the Risk Premium
WP No.26 / 2011
The Implementation of Monetary Policy in China: The Interbank Market and Bank Lending
by Hongyi Chen, Qianying Chen and Stefan Gerlach
(Revised version is published in International Finance Review (2013), Vol 14, pp.31-69.)
WP No.25 / 2011
Inflation Targeting and Inflation Persistence in Asia-Pacific
by Stefan Gerlach and Peter TILLMANN (Research Fellow)
WP No.24 / 2011
Can Securitization Work? Economic, Structural and Policy Considerations
WP No.23 / 2011
Enter the Dragon: Interactions between Chinese, US and Asia-Pacific Equity Markets, 1995-2010
by Richard C. K. Burdekin and Pierre SIKLOS (Research Fellow)
(Published in the Pacific-Basin Finance Journal, Volume 20, Issue 3, June 2012, Pages 521–541)
WP No.22 / 2011
Concocting Marketable Cocos
WP No.21 / 2011
Dual-Track Interest Rates and the Conduct of Monetary Policy in China
by Dong He and Honglin Wang
(Published in China Economic Review, Volume 23, Issue 4, December 2012, Pages 928–947)
WP No.20 / 2011
Sailing through this Storm? Capital Flows in Asia during the Crisis
(Published in Pacific Economic Review, Volume 17, Issue 3, pages 467–488, August 2012)
WP No.19 / 2011
House Price, Mortgage Premium, and Business Fluctuations
by Nan-Kuang CHEN (Research Fellow), Han-Liang Cheng and Ching-Sheng Mao
WP No.18 / 2011
Securitization Rating Performance and Agency Incentives
by Daniel Rösch and Harald SCHEULE (Research Fellow)
WP No.17 / 2011
Specification Sensitivities in Right-Tailed Unit Root Testing for Financial Bubbles
by Shu-Ping Shi, Peter C. B. Phillips and Jun YU (Research Fellow)
WP No.16 / 2011
Can Anchoring and Loss Aversion Explain the Predictability in the Housing Market?
(Published in the Pacific Economic Review, Volume 18, Issue 1, pages 41–59, February 2013)
WP No.15 / 2011
What Drives Urban Consumption in Mainland China? The Role of Property Price Dynamics
by Yu-Fu Chen, Michael FUNKE (Research Fellow) and Aaron Mehrotra
(Forthcoming in Pacific Economic Review.)
WP No.14 / 2011
Composition of International Capital Flows: A Survey
by Koralai Kirabaeva and Assaf RAZIN (Research Fellow)
WP No.13 / 2011
China’s Outward Direct Investment in Africa
by Yin-Wong CHEUNG (Research Fellow), Jakob de Haan, XingWang Qian and Shu Yu
(Published in Review of International Economics, Volume 20, Issue 2, pages 201–220, May 2012)
WP No.12 / 2011
Channels of Interprovincial Risk Sharing in China
(Published in Journal of Comparative Economics, Volume 39, Issue 3, September 2011, Pages 383–405)
WP No.11 / 2011
Do Short Selling Restrictions Destabilize Stock Markets? Lessons from Taiwan
by Martin T. Bohl, Badye Essid and Pierre SIKLOS (Research Fellow)
(Published in the Quarterly Review of Economics and Finance, Volume 52, Issue 2, May 2012, Pages 198–206)
WP No.10 / 2011
Risk Management and Managerial Efficiency in Chinese Banks: A Network DEA Framework
(Published in Omega: The International Journal of Management Science, 41 (2013), 207-215)
WP No.09 / 2011
How Different are FDI and FPI Flows?: Does Distance Alter the Composition of Capital Flows?
by Rabin Hattari and Ramkishen RAJAN (Research Fellow)
WP No.08 / 2011
Renminbi Going Global
(Published in China & World Economy, Volume 19, Issue 2, pages 1–18, March-April 2011)
WP No.07 / 2011
The Effects of Public Listing on the Performance of Banks in China
WP No.06 / 2011
Asian Business Cycle Synchronisation
by Dong He and Wei Liao
(Published in Pacific Economic Review, Volume 17, Issue 1, pages 106–135, February 2012.)
WP No.05 / 2011
The Fragility of Discretionary Liquidity Provision: Lessons from the Collapse of the Auction Rate Securities Market
WP No.04 / 2011
Nowcasting Chinese GDP: Information Content of Economic and Financial Data
by Matthew S. Yiu and Kenneth K. Chow
(Published in China Economic Journal, 2010, Volume 3, Issue 3, Pages 223 – 240)
WP No.03 / 2011
Asset Price and Monetary Policy – The Effect of Expectation Formation
by Nan-Kuang CHEN (Research Fellow) and Han-Liang CHENG
WP No.02 / 2011
Effects of Liquidity on the Nondefault Component of Corporate Yield Spreads: Evidence from Intraday Transactions Data
by Song HAN (Research Fellow) and Hao ZHOU
WP No.01 / 2011
A Macro-Finance Approach to Exchange Rate Determination