WP No.29 / 2017
Monetary Rules and Policy Targets under Managed Exchange Rates and Capital Controls: The Case of China
(Revised version published in Economic Modelling, 2020, Vol. 91, Pages 759-768)
WP No.28 / 2017
Gradual Portfolio Adjustment: Implications for Global Equity Portfolios and Returns
WP No.27 / 2017
Expectations and Risk Premia at 8:30am: Deciphering the Responses of Bond Yields to Macroeconomic Announcements
by Peter Hördahl, Eli M. Remolona and Giorgio Valente
(Published in Journal of Business and Economic Statistics, Volume 38, 2020, Issue 1)
WP No.26 / 2017
The International Transmission of Monetary Policy through Financial Centres: Evidence from the United Kingdom and Hong Kong
by Robert Hills, Kelvin Ho, Rhiannon Sowerbutts, Dennis Reinhardt, Eric Wong and Gabriel Wu
(Published in Journal of International Money and Finance, Vol. 90, (2019), pp.76-98)
WP No.25 / 2017
Breakdown of Covered Interest Parity: Mystery or Myth?
by Alfred Wong and Jiayue Zhang
WP No.24 / 2017
The Consumption Response to Minimum Wages: Evidence from Chinese Households
by Ernest Dautovic, Harald HAU and Yi HUANG
WP No.23 / 2017
Tail risk spillover in Asia Pacific stock market
by Tom Fong, Ka-Fai Li and Edmund Ho
WP No.22 / 2017
Corporate Default Risk and Loan Pricing Behaviour in China
by Hongyi Chen, Jianghui Chen and Gaofeng Han
(Published in International Finance Review, 2020, Volume 21, Pages 55–73)
WP No.21 / 2017
Exchange rate dynamics under a currency board when policy rates are zero
by Cho-Hoi Hui, Ka-Fai Li and Chi-Fai Lo
WP No.20 / 2017
Credit Default Swaps and Bank Regulatory Capital
by Chenyu Shan, Dragon Yongjun TANG and Hong Yan
(Published in Review of Finance, Volume 25, Issue 1, February 2021)
WP No.19 / 2017
Why do firms issue bonds in the offshore market? Evidence from China
by Qing Ba, Frank Song and Peng Zhou
WP No.18 / 2017
Determinants of mutual fund flows to Hong Kong equities
by Tom Fong, Angela Sze and Edmund Ho
(Published in Journal of International Financial Markets, Institutions & Money, Vol. 57. (2019), pp.231-247)
WP No.17 / 2017
US Monetary Policy Spillovers
by Saroj Bhattarai (Research Fellow), Arpita Chatterjee and Woong Yong Park
(Published in Journal of Monetary Economics, Volume 114, October 2020, pages 71-89)
WP No.16 / 2017
Return Comovement
(Published in Journal of Banking & Finance, Volume 112, March 2020, 105223)
WP No.15 / 2017
Boom-and-Bust Cycles in Emerging Markets: How Important is the Exchange Rate?
(Published in Journal of Macroeconomics, Volume 56, June 2018, Pages 172-187)
WP No.14 / 2017
VaR and Stress Tests: The Impact of Fat-Tail Risk and Systemic Risk on Commercial Banks in Hong Kong and China
WP No.13 / 2017
Quantifying Financing Needs in the Belt and Road Countries and Industries
by Hongyi Chen, Tianjiao Jiang and Chen LIN (Research Fellow)
(Published at Emerging Markets Finance and Trade, Volume 55, Issue 14)
WP No.12 / 2017
History, Culture and the Rise of Informal Finance in China
by Jinyan Hu, Chicheng MA and Bo Zhang
WP No.11 / 2017
Dynamics of Market Anomalies and Measurement Errors of Risk-free Interest Rates
by Cho-Hoi Hui, Chi-fai LO (Research Fellow) and Chin-To Fung
WP No.10 / 2017
Land Share, Mortgage Default, and Loan-to-Value Ratio as a Macro-Prudential Policy Tool
WP No.09 / 2017
To Guide or not to Guide? Quantitative Monetary Policy Tools and Macroeconomic Dynamics in China
by Hongyi Chen, Michael FUNKE (Research Fellow), Ivan Lozev and Andrew Tsang
(Published in International Journal of Central Banking , 2020, Volume 16(5), pages 49-94)
WP No.08 / 2017
Structural transformation and its implications for the Chinese economy
(Published in Pacific Economic Review, Volume 25, Issue 3, August 2020, Pages 339-383)
WP No.07 / 2017
Term Premium Spillovers from the US to International Markets
by Ka Fai Li, Tom Fong and Edmund Ho
WP No.06 / 2017
The RMB Central Parity Formation Mechanism: August 2015 to December 2016
by Yin-Wong CHEUNG (Research Fellow), Cho-Hoi Hui and Andrew Tsang
(Published in Journal of International Money and Finance, Vol. 86, (2018), pp. 223-243. Previous title: The RMB Central Parity Formation Mechanism after August 2015: A Statistical Analysis)
WP No.05 / 2017
Financial Flexibility and Corporate Cash Policy
WP No.04 / 2017
Exchange Rate Movements and Fundamentals: Impact of Oil Prices and China’s Growth
by Shuo Cao and Hongyi Chen
WP No.03 / 2017
Can Exchange Rate Dynamics in Krugman’s Target-zone Model be Directly Tested?
by Cho-Hoi Hui, Chi-fai LO (Research Fellow) and Po-Hon Chau
WP No.02 / 2017
Effects of Intermediate Input Tariff Reduction on Innovations in China
(Published in Journal of International Economics, Volume 103, November 2016, pages 166-183)
WP No.01 / 2017
Effects of Capital Flow on the Equity and Housing Markets in Hong Kong
by Yin-Wong CHEUNG (Research Fellow), Kenneth K. Chow and Matthew S. Yiu
(Published in Pacific Economic Review, 2017, Volume 22(3), Pages 332-349.)