WP No.25 / 2018
Exchange rate solutions with currency crashes
by Cho-Hoi Hui, Chi-Fai Lo and Chi-Hei Liu
(Published in International Review of Economics and Finance, Volume 79, May 2022, Pages 18-37. New title: "Exchange Rate Dynamics with Crash Risk and Interventions")
WP No.24 / 2018
Implications of Loan Portfolio Concentration for Banks’ Credit Risk and Return: Evidence from Hong Kong
by Kelvin Ho, Ka-Fai Li and Edward Tan
WP No.23 / 2018
What Drives Commodity Price Booms and Busts?
by David S. Jacks (Research Fellow) and Martin Stuermer
(Published in Energy Economics, Volume 85, January 2020, 104035)
WP No.22 / 2018
Do long-term institutional investors contribute to financial stability? – Evidence from equity investment in Hong Kong and international markets
by Tom Fong, Angela Sze and Edmund Ho
(Published in Journal of International Financial Markets, Institutions & Money, Vol.77: 101521 (2022))
WP No.21 / 2018
Funding Constraints and Market Illiquidity in the European Treasury Bond Market
by Sophie Moinas, Minh Nguyen and Giorgio Valente
WP No.20 / 2018
Computer-based Trading, Institutional Investors and Treasury Bond Returns
by Xiaoquan Liu, Ingrid Lo, Minh Nguyen and Giorgio Valente
WP No.19 / 2018
High-Frequency Trading in the U.S. Treasury Market around Macroeconomic News Announcements
by George J. Jiang, Ingrid Lo and Giorgio Valente
WP No.18 / 2018
The Macroeconomic Effects of Macroprudential Policy
by Björn Richter, Moritz SCHULARICK and Ilhyock Shim
(Published at Journal of International Economics,Volume 118, May 2019, Pages 263-282. New title: "The costs of macroprudential policy". )
WP No.17 / 2018
International Trade Finance and the Cost Channel of Monetary Policy in Open Economies
by Nikhil Patel
(Published in International Journal of Central Banking, October 2021)
WP No.16 / 2018
Roads and the Real Exchange Rate
by Qingyuan Du, Shang-jin WEI and Peichu Xie
WP No.15 / 2018
Policy Rules in Times of Prolonged Crisis: Quantitative Easing Abroad and Fiscal Adjustment at Home
WP No.14 / 2018
A Taste for Dim Sum: Analysing the Financial Diffusion in the New Offshore Renminbi Debt Securities Market
by Tom Fong, Paul MIZEN and Serafeim Tsoukas
WP No.13 / 2018
Liquidity Shocks and “Borrow to Lend” Shadow Banking Activities
by Zhibo Tan
WP No.12 / 2018
Trends and Cycles In China's Macroeconomy
by Chun Chang, Kaiji Chen, Daniel Waggoner and Tao ZHA
(Published in NBER Macroeconomics Annual, Volume 30, 2015)
WP No.11 / 2018
Pushing on a String: State-Owned Enterprises and Monetary Policy Transmission in China
by Hongyi Chen, Ran Li and Peter TILLMANN
(Published at China Economic Review, Volume 54, April 2019, Pages 26-40)
WP No.10 / 2018
In Search of Distress Risk in Emerging Markets
by Gonzalo Asis and Anusha CHARI (Research Fellow)
(Published in Journal of International Economics, Volume 131, July 2021, 103463)
WP No.09 / 2018
The role of loan portfolio losses and bank capital for Asian financial system resilience
by Daniel Rosch and Harald SCHEULE (Research Fellow)
(Published in Pacific-Basin Finance Journal, Volume 40, Part B, December 2016, pages 289-305)
WP No.08 / 2018
From the World’s Factory to a World Creditor: China’s External Wealth and Excess Returns, 1997-2016
WP No.07 / 2018
Chinese Local Bond Spreads, Monetary Policy and “Misallocation”
by Robert Dekle (Research Fellow) and Andrew Tsang
WP No.06 / 2018
Heterogeneous preferences and risk sharing at household level in China
by Jennifer LAI (Research Fellow), Isabel Yan and Xingjian Yi
WP No.05 / 2018
Assessing the interconnectedness between cross-border shadow banking systems
by Tom Fong, Angela Sze and Edmund Ho
(Published in Journal of International Money and Finance, Volume 110, February 2021, 102278. New Title: "Assessing Cross-Border Interconnectedness between Shadow Banking Systems")
WP No.04 / 2018
The flow-performance relationship in emerging market bond funds
by David Leung and Max Kwong
WP No.03 / 2018
Mapping China' Time-Varying House Price Landscape
by Michael FUNKE (Research Fellow), Danilo Leiva-Leon and Andrew Tsang
(Published in Regional Science and Urban Economics, Volume 78, September 2019, 103464)
WP No.02 / 2018
The Fiscal Theory of the Price Level in a World of Low Interest Rates
by Marco Bassetto and Wei CUI (Research Fellow)
(Published in Journal of Economic Dynamics and Control, Vol 89, April, 2018, Pages 5-22)
WP No.01 / 2018
Productivity, exporting and financial constraints of Chinese SMEs