2019

WP No. 17/2019	Toward understanding short-selling activity: Demand and Supply by Adrian Cheung, Hung Wan Kot, Eric Lam and Harry Leung Full Text Summary (Published in Accounting & Finance, Volume 60, Issue 3, September 2020, Pages 2203-2230)
WP No. 16 / 2019	Interest Rate Differentials Under an Exchange Rate Convertibility Zone: A Carry Trade Perspective by Joseph Fung and Eric Lam Full Text Summary
WP No. 15 / 2019	Risk of window dressing: Quarter-end spikes in the Japanese yen Libor-OIS spread by Mayu Kikuchi, Alfred Wong and Jiayue Zhang Full Text Summary (Published in Journal of Regulatory Economics 56(2): 149-166.)
WP No. 14 / 2019	Complexity of global banks and their foreign operation in Hong Kong by Simon Kwan, Kelvin Ho and Edward Tan Full Text Summary
WP No.13 / 2019	The Natural Level of Capital Flows by John Burger, Francis E. WARNOCK and Veronica WARNOCK Full Text Summary (Published in Journal of Monetary Economics, Volume 130, September 2022, pages 1-16)
WP No.12 / 2019	What is the Real Relationship between Cash Holdings and Stock Returns? by Chewie Ang, Eric Lam, Tai Ma, Shujing Wang and John Wei Full Text Summary (Published in International Review of Economics & Finance, Volume 64, November 2019, Pages 513-528)
WP No.11/2019	Does Bitcoin behave as a currency?: A standard monetary model approach by Cho-Hoi Hui, Chi-Fai Lo, Po-Hon Chau and Andrew Wong Full Text Summary (Published in International Review of Financial Analysis, Volume 70, July 2020, 101518)
WP No.10 / 2019	Local Currency Bond Returns in Emerging Economies and the Role of Foreign Investors by Inhwan So, Giorgio Valente and Jason Wu Full Text Summary
WP No.09 / 2019	Predicting China's Monetary Policy with Forecast Combinations by Laurent PAUWELS (Research Fellow) Full Text Summary
WP No.08 / 2019	Quantitative Easing by Wei CUI (Research Fellow) and Vincent STERK Full Text Summary
WP No.07 / 2019	Global Drivers of Gross and Net Capital Flows by Scott DAVIS (Research Fellow), Giorgio Valente and Eric van WINCOOP Full Text Summary (Published in Journal of International Economics, Volume 128, January 2021, 103397)
WP No.06 / 2019	The unintended consequences of regulation: Evidence from China’s interbank market by Xian Gu (Research Fellow) and Lu Yun Full Text Summary
WP No.05 / 2019	The Dilemma and International Macroprudential Policy: Is Capital Flow Management Effective? by Jian Wang (Research Fellow) and Jason Wu Full Text Summary (Published in Journal of International Money and Finance, Volume 118, November 2021, 102451)
WP No.04 / 2019	Limits-to-arbitrage, Investment Frictions, and the Investment Effect: New Evidence by Eric Lam, Ya Li, Wikrom Prombutr and John Wei Full Text Summary (Published in European Financial Management, Volume 26, Issue 1, January 2020, Pages 3-43)
WP No.03 / 2019	Predictability in sovereign bond returns using technical trading rules: Do developed and emerging markets differ? by Tom Fong and Gabriel Wu Full Text Summary (Published in North American Journal of Economics and Finance, Volume 51, January 2020, Article 101105)
WP No.02 / 2019	Demographic changes and inflation dynamics by Gaofeng Han Full Text Summary
WP No.01 / 2019	From a Quantity to an Interest Rate-Based Framework: Multiple Monetary Policy Instruments and Their Effects in China by Soyoung KIM (Research Fellow) and Hongyi Chen Full Text Summary (Published in Journal of Money, Credit and Banking, Volume 54, Issue 7, Pages 2103-2123, October 2022)