WP No.25 / 2013
A Theory of the Competitive Saving Motive
by Qingyuan Du and Shang-jin WEI (Research Fellow)
WP No.24 / 2013
Rental Rates under Housing Price Uncertainty: A Real Options Approach
by Honglin Wang, Fan Yu and Yinggang ZHOU (Research Fellow)
WP No.23 / 2013
Chinese Political and Economic Governance System and the Imbalance between Consumption and Investment
by Julan Du (Research Fellow), Hongsheng Fang and Xiangrong Jin
WP No.22 / 2013
Asset Allocation and Monetary Policy: Evidence from the Eurozone
by Harald HAU (Research Fellow) and Sandy Lai
(Forthcoming in Journal of Financial Economics)
WP No.21 / 2013
Robust Control, Informational Frictions, and International Consumption Correlations
by Yulei LUO (Research Fellow), Jun Nie and Eric R. Young
WP No.20 / 2013
International Trade Price Stickiness and Exchange Rate Pass-Through in Micro Data: A Case Study on US-China Trade
by Mina Kim, Deokwoo Nam, Jian Wang (Research Fellow) and Jason Wu
WP No.19 / 2013
How Do Exporters Respond to Antidumping Investigations?
by Yi Lu, Zhigang TAO (Research Fellow) and Yan Zhang
(Published in Journal of International Economics, Volume 91, Issue 2, November 2013, Pages 290-300)
WP No.18 / 2013
CEO Option Compensation, Risk-Taking Incentives, and Systemic Risk in the Banking Industry
by Jeong-Bon Kim, Li LI (Postdoctoral Fellow), Mary L. Z. Ma and Frank M. Song
WP No.17 / 2013
Measurement Error and Policy Evaluation in the Frequency Domain
by Xiangrong Yu
(Published in Journal of Macroeconomics, Volume 38, Part B, December 2013, Pages 307-329.)
WP No.16 / 2013
Monetary Policy and Bank Lending in China — Evidence from Loan-Level Data
by Dong He and Honglin Wang
WP No.15 / 2013
Transmitting Global Liquidity to East Asia: Policy Rates, Bond Yields, Currencies and Dollar Credit
by Dong He and Robert N McCauley
WP No.14 / 2013
China’s Capital Controls – Through the Prism of Covered Interest Differentials
by Yin-Wong CHEUNG (Research Fellow) and Risto Herrala
(Published in Pacific Economic Review, Volume 19, Issue 1, February 2014, Pages: 112–134)
WP No.13 / 2013
Safehavenness of Currencies
by Alfred Wong and Tom Fong
(Forthcoming in European Journal of Finance)
WP No.12 / 2013
A Model of Chinese Capital Account Liberalisation
by Dong He and Paul Luk
(Forthcoming in Macroeconomic Dynamics)
WP No.11 / 2013
Balanced-Budget Rules and Aggregate Instability: The Role of Consumption Taxes in a Monetary Economy
WP No.10 / 2013
Asset Price Bubbles and Monetary Policy
WP No.09 / 2013
The Great Recession: A Self-Fulfilling Global Panic
WP No.08 / 2013
The Coming Wave
by G. Andrew Karolyi, David NG (Research Fellow) and Eswar S. Prasad
(Published in Finance and Development, June 2013, Vol. 50, No. 2)
WP No.07 / 2013
How have Labour Market Developments Affected Labour Costs in China?
by Wenlang Zhang and Gaofeng Han
WP No.06 / 2013
Export Dynamics in Large Devaluations
by George Alessandria, Sangeeta Pratap and Vivian YUE Zhanwei (Research Fellow)
WP No.05 / 2013
Multinational Banking and Financial Contagion: Evidence from Foreign Bank Subsidiaries
by Bang Nam JEON (Research Fellow), María Pía Olivero and Ji Wu
(Published in Journal of Banking & Finance, Volume 37, Issue 3, March 2013, Pages 952-972, with a new title "Multinational banking and the international transmission of financial shocks: Evidence from foreign bank subsidiaries")
WP No.04 / 2013
The Role of Household Saving in the Economic Rise of China
by Steven Lugauer and Nelson C. MARK (Research Fellow)
(Published in "Global Interdependence, Decoupling, and Recoupling" edited by Yin-Wong Cheung and Frank Westermann, MIT Press.)
WP No.03 / 2013
Carry Trades and the Performance of Currency Hedge Funds
by Federico Nucera and Giorgio VALENTE (Research Fellow)
(Published in Journal of International Money and Finance, Volume 33, March 2013, Pages 407-425)
WP No.02 / 2013
China’s Monetary Policy Communication: Money Markets not only Listen, They also Understand
by Alicia Garcia-Herrero and Eric GIRARDIN (Research Fellow)
WP No.01 / 2013
Rental Adjustment and Housing Prices: Evidence from Hong Kong’s Residential Property Market
by Honglin Wang, Chu ZHANG (Research Fellow) and Weihang Dai