Yin-Wong Cheung

City University of Hong Kong - Department of Economics & Finance

Hung Hing Ying Chair Professor of International Economics

83 Tat Chee Avenue

Kowloon

Hong Kong

University of California, Santa Cruz - Department of Economics

435 Engineering 2

Santa Cruz, CA 95064

United States

University of California at Santa Cruz - Department of Economics

Professor Emeritus

1156 High Street

Santa Cruz, CA 95064

United States

  • City University of Hong Kong - Department of Economics & Finance

  • University of California, Santa Cruz - Department of Economics

    • Email
    • Tel: 831-459-4247
    • Fax: 831-459-5077

  • University of California at Santa Cruz - Department of Economics

SCHOLARLY PAPERS

104

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Scholarly Papers (104)

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1.

Empirical Exchange Rate Models of the Nineties: Are Any Fit to Survive?

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Citation 9

Empirical Exchange Rate Models of the Nineties: Are Any Fit to Survive?

UC Santa Cruz Economics Working Paper No. 521; UC Santa Cruz International Economics Working Paper No. 02-16, HKIMR Working Paper No. 12/2005
Number of pages: 30 Posted: 09 Feb 2004
Menzie David Chinn, Yin-Wong Cheung and Antonio I. Garcia Pascual
University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics, City University of Hong Kong - Department of Economics & Finance and International Monetary Fund (IMF) - Western Hemisphere Department
Downloads 781 (29,731)
Citation 12

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exchange rates, monetary model, productivity, interest rate parity, behavioral equilibrium exchange rate model, forecasting performance

Empirical Exchange Rate Models of the Nineties: Are Any Fit to Survive?

Number of pages: 49 Posted: 20 Oct 2008
Yin-Wong Cheung, Menzie David Chinn and Antonio I. Garcia Pascual
City University of Hong Kong - Department of Economics & Finance, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and International Monetary Fund (IMF) - Western Hemisphere Department
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exchange rates, monetary model, productivity, interest rate parity, purchasing power

Empirical Exchange Rate Models of the Nineties: Are Any Fit to Survive?

IMF Working Paper No. 04/73
Number of pages: 37 Posted: 15 Feb 2006
Yin-Wong Cheung, Menzie David Chinn and Antonio I. Garcia Pascual
City University of Hong Kong - Department of Economics & Finance, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and International Monetary Fund (IMF) - Western Hemisphere Department
Downloads 76 (312,384)
Citation 2

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exchange rates, monetary model, productivity, interest rate parity, purchasing power parity, forecasting performance

Empirical Exchange Rate Models of the Nineties: Are Any Fit to Survive?

NBER Working Paper No. w9393
Number of pages: 47 Posted: 19 Dec 2002 Last Revised: 31 Oct 2010
Yin-Wong Cheung, Menzie David Chinn and Antonio I. Garcia Pascual
City University of Hong Kong - Department of Economics & Finance, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and International Monetary Fund (IMF) - Western Hemisphere Department
Downloads 55 (371,399)
Citation 171

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2.

Macroeconomic Implications of the Beliefs and Behavior of Foreign Exchange Traders

Downloads 603 ( 42,789)
Citation 1

Macroeconomic Implications of the Beliefs and Behavior of Foreign Exchange Traders

UCSC Dept. of Economics Working Paper No. 430
Number of pages: 40 Posted: 09 Mar 1999
Yin-Wong Cheung and Menzie David Chinn
City University of Hong Kong - Department of Economics & Finance and University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics
Downloads 538 (48,979)
Citation 3

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Macroeconomic Implications of the Beliefs and Behavior of Foreign Exchange Traders

NBER Working Paper No. w7417
Number of pages: 41 Posted: 19 Jul 2000 Last Revised: 02 Apr 2001
Yin-Wong Cheung and Menzie David Chinn
City University of Hong Kong - Department of Economics & Finance and University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics
Downloads 65 (341,085)
Citation 1

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3.

Currency Traders and Exchange Rate Dynamics: A Survey of the U.S. Market

Department of Economics Working Paper No. 457, CESifo Working Paper Series No. 251
Number of pages: 44 Posted: 08 Feb 2001
Yin-Wong Cheung and Menzie David Chinn
City University of Hong Kong - Department of Economics & Finance and University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics
Downloads 555 (47,669)
Citation 131

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4.

What Do We Know About Recent Exchange Rate Models? In-Sample Fit and Out-Sample Performance Evaluated

CESifo Working Paper Series No. 902; University of California Santa Cruz: Center for International Economics Working Paper No. 03-13
Number of pages: 44 Posted: 10 Apr 2003
Yin-Wong Cheung, Menzie David Chinn and Antonio I. Garcia Pascual
City University of Hong Kong - Department of Economics & Finance, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and International Monetary Fund (IMF) - Western Hemisphere Department
Downloads 508 (53,311)
Citation 2

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Exchange Rates, Monetary Model, Productivity, Interest Rate Parity, Behavioral Equilibrium Exchange Rate Model, Forecasting Performance

5.

Renminbi Going Global

HKIMR Working Paper No.08/2011
Number of pages: 27 Posted: 29 Mar 2011
Xiaoli Chen and Yin-Wong Cheung
affiliation not provided to SSRN and City University of Hong Kong - Department of Economics & Finance
Downloads 496 (54,927)
Citation 3

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RMB Internationalization, Off-Shore RMB Market, Cross-Border Trade Settlement, Panda Bonds

6.

Effects of U.S. Inflation on Hong Kong and Singapore

CESifo Working Paper Series No. 700, HKIMR Working Paper No. 03/2001
Number of pages: 26 Posted: 23 Jun 2002
Yin-Wong Cheung and Jude Yuen
City University of Hong Kong - Department of Economics & Finance and University of California, Santa Cruz - Department of Economics
Downloads 479 (57,440)
Citation 10

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Exchange Rate Regime, Inflation Transmission Mechanism, Cointegration, Common Feature, Codependence

7.

China's Current Account and Exchange Rate

Downloads 471 ( 58,674)

China's Current Account and Exchange Rate

CESifo Working Paper Series No. 2587
Number of pages: 47 Posted: 19 Mar 2009
Yin-Wong Cheung, Menzie David Chinn and Eiji Fujii
City University of Hong Kong - Department of Economics & Finance, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and Kwansei Gakuin University - School of Economics
Downloads 398 (71,274)

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China's Current Account and Exchange Rate

NBER Working Paper No. w14673
Number of pages: 54 Posted: 25 Jan 2009 Last Revised: 06 Aug 2010
Yin-Wong Cheung, Menzie David Chinn and Eiji Fujii
City University of Hong Kong - Department of Economics & Finance, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and Kwansei Gakuin University - School of Economics
Downloads 73 (319,936)

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8.

Traders, Market Microstructure and Exchange Rate Dynamics

Downloads 434 ( 64,797)
Citation 1

Traders, Market Microstructure and Exchange Rate Dynamics

UCSC Dept. of Economics Working Paper No. 431
Number of pages: 29 Posted: 04 Mar 1999
Yin-Wong Cheung and Menzie David Chinn
City University of Hong Kong - Department of Economics & Finance and University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics
Downloads 384 (74,313)

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Traders, Market Microstructure and Exchange Rate Dynamics

NBER Working Paper No. w7416
Number of pages: 29 Posted: 11 Jun 2000 Last Revised: 17 Apr 2008
Yin-Wong Cheung and Menzie David Chinn
City University of Hong Kong - Department of Economics & Finance and University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics
Downloads 50 (388,197)
Citation 1

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9.

An Analysis of Hong Kong Export Performance

Downloads 403 ( 70,885)
Citation 5

An Analysis of Hong Kong Export Performance

UC Santa Cruz Economics Working Paper No. 547, HKIMR Working Paper No. 09/2003
Number of pages: 33 Posted: 10 Sep 2003
Yin-Wong Cheung
City University of Hong Kong - Department of Economics & Finance
Downloads 377 (75,906)
Citation 7

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Hong Kong, Export, Performance

An Analysis of Hong Kong Export Performance

Pacific Economic Review, Vol. 10, No. 3, pp. 323-340, October 2005
Number of pages: 18 Posted: 05 Nov 2005
Yin-Wong Cheung
City University of Hong Kong - Department of Economics & Finance
Downloads 26 (493,102)
Citation 6
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10.

China, Hong Kong, and Taiwan: A Quantitative Assessment of Real and Financial Integration

Downloads 403 ( 70,885)
Citation 1

China, Hong Kong, and Taiwan: A Quantitative Assessment of Real and Financial Integration

CESifo Working Paper Series No. 851
Number of pages: 36 Posted: 28 Feb 2003
Yin-Wong Cheung, Menzie David Chinn and Eiji Fujii
City University of Hong Kong - Department of Economics & Finance, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and Kwansei Gakuin University - School of Economics
Downloads 346 (84,049)

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Uncovered Interest Parity, Real Interest Parity, Purchasing Power Parity, Exchange Rates, Capital Mobility, Market Integration

China, Hong Kong, and Taiwan: A Quantitative Assessment of Real and Financial Integration

HKIMR Working Paper No. 15/2003, China Economic Review, 2003
Number of pages: 30 Posted: 27 Aug 2007
Yin-Wong Cheung, Menzie David Chinn and Eiji Fujii
City University of Hong Kong - Department of Economics & Finance, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and Kwansei Gakuin University - School of Economics
Downloads 57 (364,900)
Citation 10

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uncovered interest parity, real interest parity, purchasing power parity, exchange rates, capital mobility, market integration

11.

China’s Outward Direct Investment in Africa

HKIMR Working Paper No.13/2011
Number of pages: 38 Posted: 28 Apr 2011
Yin-Wong Cheung, Jakob de Haan, Xingwang Qian and Shu Yu
City University of Hong Kong - Department of Economics & Finance, University of Groningen - Faculty of Economics and Business, State University of New York, Buffalo State and University of Groningen - Faculty of Economics and Business
Downloads 382 (75,435)
Citation 2

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Market Seeking, Resources Seeking, Risk, Trade Relationship, Contracted Projects, Going Global Policy, Energy Procurement

12.

The Offshore Renminbi Exchange Rate: Microstructure and Links to the Onshore Market

Downloads 380 ( 75,893)
Citation 1

The Offshore Renminbi Exchange Rate: Microstructure and Links to the Onshore Market

BOFIT Discussion Paper No. 17/2014
Number of pages: 42 Posted: 20 May 2016
Yin-Wong Cheung and Dagfinn Rime
City University of Hong Kong - Department of Economics & Finance and BI Norwegian Business School
Downloads 139 (205,072)
Citation 14

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F31, F33, G14, G15, G21, G28

The Offshore Renminbi Exchange Rate: Microstructure and Links to the Onshore Market

Number of pages: 34 Posted: 11 Jun 2014 Last Revised: 18 Jun 2014
Yin-Wong Cheung and Dagfinn Rime
City University of Hong Kong - Department of Economics & Finance and BI Norwegian Business School
Downloads 122 (227,318)

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Foreign Exchange Market Microstructure, Order Flow, Limit-Order Imbalance, CNH, CNY, Central Parity Rate

The Offshore Renminbi Exchange Rate: Microstructure and Links to the Onshore Market

CESifo Working Paper Series No. 4850
Number of pages: 34 Posted: 09 Jul 2014
Yin-Wong Cheung and Dagfinn Rime
City University of Hong Kong - Department of Economics & Finance and BI Norwegian Business School
Downloads 119 (231,677)

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foreign exchange market microstructure, order flow, limit-order imbalance, CNH, CNY, central parity rate

13.

Equity Price Dynamics Before and after the Introduction of the Euro: A Note

Downloads 373 ( 77,534)
Citation 1

Equity Price Dynamics Before and after the Introduction of the Euro: A Note

UC Santa Cruz Economics Working Paper No. 473; CESifo Working Paper Series No. 420
Number of pages: 23 Posted: 05 Jan 2001
Yin-Wong Cheung and Frank Westermann
City University of Hong Kong - Department of Economics & Finance and University of Osnabrueck - Department of Economics
Downloads 364 (79,150)
Citation 3

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Exchange Rate Regime, Market Volatility, Stock Market Interaction

Equity Price Dynamics Before and after the Introduction of the Euro: A Note

Multinational Finance Journal, Vol. 5, No. 2, p. 113-128, 2001
Number of pages: 16 Posted: 08 Jul 2015
Yin-Wong Cheung and Frank Westermann
City University of Hong Kong - Department of Economics & Finance and University of Osnabrueck - Department of Economics
Downloads 9 (601,958)

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14.

The Empirics of China's Outward Direct Investment

CESifo Working Paper Series No. 2621
Number of pages: 45 Posted: 20 Apr 2009
Yin-Wong Cheung and Xingwang Qian
City University of Hong Kong - Department of Economics & Finance and State University of New York, Buffalo State
Downloads 369 (78,548)

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market seeking, resources seeking, servicing exports, international reserves, agglomeration effect

15.

Does the Chinese Interest Rate Follow the US Interest Rate?

CESifo Working Paper Series No. 1943, HKIMR Working Paper No. 19/2006
Number of pages: 27 Posted: 28 Mar 2007
Yin-Wong Cheung, Dickson Tam and Matthew S. Yiu
City University of Hong Kong - Department of Economics & Finance, Hong Kong Monetary Authority - Hong Kong Institute for Monetary Research (HKIMR) and Hong Kong Monetary Authority - Hong Kong Institute for Monetary Research (HKIMR)
Downloads 363 (80,060)
Citation 11

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policy dependence, interest rate interactions, exchange rate regime

16.

The Role of Offshore Financial Centers in the Process of Renminbi Internationalization

ADBI Working Paper 472
Number of pages: 30 Posted: 08 Apr 2014
Yin-Wong Cheung
City University of Hong Kong - Department of Economics & Finance
Downloads 353 (82,700)
Citation 4

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renminbi, yuan, international monetary policy, currency internationalization, offshore currency market, onshore currency market, foreign exchange, financial centers

17.

A High-Low Model of Daily Stock Price Ranges

Downloads 324 ( 91,147)
Citation 17

A High-Low Model of Daily Stock Price Ranges

CESifo Working Paper Series No. 2387
Number of pages: 45 Posted: 08 Sep 2008
Stephen Yan-Leung Cheung, Yin-Wong Cheung and Alan T. K. Wan
City University of Hong Kong (CityUHK) - Department of Economics & Finance, City University of Hong Kong - Department of Economics & Finance and City University of Hong Kong (CityUHK) - Department of Management Sciences
Downloads 220 (136,085)

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daily high, daily low, VECM model, forecast performance, implied volatility

A High-Low Model of Daily Stock Price Ranges

HKIMR Working Paper No.3/2009
Number of pages: 42 Posted: 02 Feb 2009
Stephen Yan-Leung Cheung, Yin-Wong Cheung and Alan T. K. Wan
City University of Hong Kong (CityUHK) - Department of Economics & Finance, City University of Hong Kong - Department of Economics & Finance and City University of Hong Kong (CityUHK) - Department of Management Sciences
Downloads 104 (255,482)
Citation 17

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Daily High, Daily Low, VECM Model, Forecast Performance, Implied Volatility

18.

Impact of Exchange Rate Movements on Exports: An Analysis of Indian Non-Financial Sector Firms

Downloads 321 ( 92,045)
Citation 4

Impact of Exchange Rate Movements on Exports: An Analysis of Indian Non-Financial Sector Firms

BOFIT Discussion Paper No. 10/2013
Number of pages: 31 Posted: 05 Jul 2013
Yin-Wong Cheung and Rajeswari Sengupta
City University of Hong Kong - Department of Economics & Finance and Institute for Financial Management and Research
Downloads 229 (130,776)
Citation 5

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exchange rate fluctuations, firm-level export shares, asymmetric effects, services exports

Impact of Exchange Rate Movements on Exports: An Analysis of Indian Non-Financial Sector Firms

CESifo Working Paper Series No. 4214
Number of pages: 29 Posted: 02 May 2013
Yin-Wong Cheung and Rajeswari Sengupta
City University of Hong Kong - Department of Economics & Finance and Institute for Financial Management and Research
Downloads 92 (277,390)

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exchange rate fluctuations, firm-level export shares, asymmetric effects, services exports

19.

The Overvaluation of Renminbi Undervaluation

Downloads 299 ( 99,431)
Citation 1

The Overvaluation of Renminbi Undervaluation

CESifo Working Paper Series No. 1918, HKIMR Working Paper No. 11/2007
Number of pages: 37 Posted: 27 Feb 2007
Yin-Wong Cheung, Menzie David Chinn and Eiji Fujii
City University of Hong Kong - Department of Economics & Finance, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and Kwansei Gakuin University - School of Economics
Downloads 256 (116,721)

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absolute purchasing power parity, exchange rates, real income, capital controls, currency misalignment

The Overvaluation of Renminbi Undervaluation

NBER Working Paper No. w12850
Number of pages: 44 Posted: 24 Jan 2007 Last Revised: 13 Aug 2010
Yin-Wong Cheung, Menzie David Chinn and Eiji Fujii
City University of Hong Kong - Department of Economics & Finance, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and Kwansei Gakuin University - School of Economics
Downloads 43 (413,997)
Citation 86

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20.

Exchange Rates and Markov Switching Dynamics

CESifo Working Paper Series No. 1348, HKIMR Working Paper No. 05/2005
Number of pages: 30 Posted: 17 Dec 2004
Yin-Wong Cheung and Ulf G. Erlandsson
City University of Hong Kong - Department of Economics & Finance and Lund University - Department of Economics
Downloads 286 (104,358)
Citation 12

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exchange rate dynamics, regime switching, Monte Carlo Test, sampling frequency

21.

Exchange Rate Misalignment - The Case of the Chinese Renminbi

CESifo Working Paper Series No. 3797
Number of pages: 25 Posted: 03 May 2012
Yin-Wong Cheung
City University of Hong Kong - Department of Economics & Finance
Downloads 285 (104,739)
Citation 2

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FEER, Penn effect, sampling uncertainty, serial correlation, data revision

22.

Dissecting the PPP Puzzle: The Unconventional Roles of Nominal Exchange Rate and Price Adjustments

CESifo Working Paper Series No. 924, HKIMR Working Paper No. 10/2003
Number of pages: 29 Posted: 23 Apr 2003
Yin-Wong Cheung, Kon S. Lai and U. Michael Bergman
City University of Hong Kong - Department of Economics & Finance, California State University, Los Angeles - Department of Economics & Statistics and University of Copenhagen - Department of Economics
Downloads 281 (106,310)
Citation 27

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23.

Hong Kong Output Dynamics: An Empirical Analysis

CESifo Working Paper Series No. 482, HKIMR Working Paper No. 11/2000
Number of pages: 48 Posted: 03 Apr 2001
Yin-Wong Cheung
City University of Hong Kong - Department of Economics & Finance
Downloads 278 (107,562)

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Common Trends/Cycles, Transmission Mechanism, Structural Determinants

24.

An Empirical Model of Daily Highs and Lows

CESifo Working Paper Series No. 1695, HKIMR Working Paper No. 7/2006
Number of pages: 33 Posted: 24 Apr 2006
Yin-Wong Cheung
City University of Hong Kong - Department of Economics & Finance
Downloads 269 (111,362)
Citation 3

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high, low open, close, trading volume, VECM model

25.

A Note on the Money-Output Causality Tests

Oxford Bulletin Econ. & Statistics, Vol. 63, No. 2, May 2001
Number of pages: 23 Posted: 01 Mar 2001
Yin-Wong Cheung and Eiji Fujii
City University of Hong Kong - Department of Economics & Finance and Kwansei Gakuin University - School of Economics
Downloads 263 (113,984)
Citation 4

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money-output causality, ARCH, Monte Carlo experiment

26.

Exchange Rate Dynamics: Where is the Saddle Path?

CESifo Working Paper Series No. 1129
Number of pages: 33 Posted: 12 Mar 2004
Yin-Wong Cheung, Javier Gardeazabal and Jesús Vázquez
City University of Hong Kong - Department of Economics & Finance, University of the Basque Country and Universidad del País Vasco (UPV/EHU) - Department of Foundations of Economic Analysis I
Downloads 259 (115,856)

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overshooting, cointegration, Johansen test, simulation, convergence behavior

27.

The Suitability of a Greater China Currency Union

Downloads 254 (118,236)
Citation 1

The Suitability of a Greater China Currency Union

CESifo Working Paper Series No. 1192, HKIMR Working Paper No. 12/2004
Number of pages: 39 Posted: 01 Jun 2004
Yin-Wong Cheung and Jude Yuen
City University of Hong Kong - Department of Economics & Finance and University of California, Santa Cruz - Department of Economics
Downloads 238 (125,793)
Citation 5

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Greater China, trade and investment, common stochastic trend, synchronized and non-synchronized business cycles, output losses, exchange rate regime

The Suitability of a Greater China Currency Union

Pacific Economic Review, Vol. 10, No. 1, pp. 83-103, February 2005
Number of pages: 21 Posted: 14 Mar 2005
Yin-Wong Cheung and Jude Yuen
City University of Hong Kong - Department of Economics & Finance and University of California, Santa Cruz - Department of Economics
Downloads 16 (555,603)
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28.

Market Structure, Technology Spillovers, and Persistence in Productivity Differentials

CESifo Working Paper Series No. 517
Number of pages: 34 Posted: 14 Aug 2001
Yin-Wong Cheung and Antonio I. Garcia Pascual
City University of Hong Kong - Department of Economics & Finance and International Monetary Fund (IMF) - Western Hemisphere Department
Downloads 245 (122,666)
Citation 1

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Total Factor Productivity, Convergence, Market Structure, Technology Diffusion

29.

Should Nordic Countries Join Emu?: An Empirical Analysis

UCSC Dept. of Economics Working Paper No. 389
Number of pages: 31 Posted: 06 Apr 1998
U. Michael Bergman, Michael M. Hutchison and Yin-Wong Cheung
University of Copenhagen - Department of Economics, University of California, Santa Cruz - Department of Economics and City University of Hong Kong - Department of Economics & Finance
Downloads 235 (127,921)

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30.

Measuring Renminbi Misalignment: Where do We Stand?

HKIMR Working Paper No.24/2010
Number of pages: 31 Posted: 12 Oct 2010
Yin-Wong Cheung, Menzie David Chinn and Eiji Fujii
City University of Hong Kong - Department of Economics & Finance, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and Kwansei Gakuin University - School of Economics
Downloads 219 (137,038)
Citation 14

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Absolute Purchasing Power Parity, China, Currency Misalignment, Sampling Uncertainty, Data Revision

31.

Hoarding of International Reserves: Mrs Machlup's Wardrobe and the Joneses

Downloads 214 (140,054)
Citation 31

Hoarding of International Reserves: Mrs Machlup's Wardrobe and the Joneses

CESifo Working Paper No. 2065, HKIMR Working Paper No. 13/2007
Number of pages: 48 Posted: 25 Jul 2007
Yin-Wong Cheung and Xingwang Qian
City University of Hong Kong - Department of Economics & Finance and State University of New York, Buffalo State
Downloads 211 (141,752)

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demand for international reserves, excessive international reserve accumulation, speculative attack, keeping up with the Joneses

Hoarding of International Reserves: Mrs Machlup's Wardrobe and the Joneses

Review of International Economics, Vol. 17, No. 4, pp. 824-843, September 2009
Number of pages: 20 Posted: 15 Oct 2009
Yin-Wong Cheung and Xingwang Qian
City University of Hong Kong - Department of Economics & Finance and State University of New York, Buffalo State
Downloads 3 (645,818)
Citation 32
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32.

The Chinese Economies in Global Context: The Integration Process and its Determinants

Downloads 184 (161,128)
Citation 1

The Chinese Economies in Global Context: The Integration Process and its Determinants

UC Santa Cruz International Economics Working Paper No. 03-16; UC Santa Cruz Economics Working Paper No. 552, HKIMR Working Paper No. 07/2005
Number of pages: 32 Posted: 12 Nov 2003
Yin-Wong Cheung, Menzie David Chinn and Eiji Fujii
City University of Hong Kong - Department of Economics & Finance, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and Kwansei Gakuin University - School of Economics
Downloads 147 (195,909)

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uncovered interest parity, real interest parity, purchasing power parity, exchange rates, capital mobility, market integration

The Chinese Economies in Global Context: The Integration Process and its Determinants

NBER Working Paper No. w10047
Number of pages: 38 Posted: 28 Oct 2003
Yin-Wong Cheung, Menzie David Chinn and Eiji Fujii
City University of Hong Kong - Department of Economics & Finance, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and Kwansei Gakuin University - School of Economics
Downloads 37 (438,701)
Citation 8

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33.

Capital Flight: China's Experience

Downloads 182 (162,727)

Capital Flight: China's Experience

CESifo Working Paper Series No. 2931
Number of pages: 39 Posted: 03 Feb 2010
Yin-Wong Cheung and Xingwang Qian
City University of Hong Kong - Department of Economics & Finance and State University of New York, Buffalo State
Downloads 180 (164,406)

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covered interest differential, forward premium, expected depreciation, asymmetric response, macro determinants

Capital Flight: China's Experience

Review of Development Economics, Vol. 14, No. 2, pp. 227-247, May 2010
Number of pages: 21 Posted: 19 Apr 2010
Yin-Wong Cheung and Xingwang Qian
City University of Hong Kong - Department of Economics & Finance and State University of New York, Buffalo State
Downloads 2 (656,867)
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34.

On Cross-Country Differences in the Persistence of Real Exchange Rates

CESifo Working Paper Series No. 218
Number of pages: 34 Posted: 17 Jun 2001
Yin-Wong Cheung and Kon S. Lai
City University of Hong Kong - Department of Economics & Finance and California State University, Los Angeles - Department of Economics & Statistics
Downloads 173 (170,318)
Citation 25

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Real exchange rates; cross-country persistence; structural determinants

35.

An Output Perspective on a Northeast Asia Currency Union

CESifo Working Paper Series No. 1250, HKIMR Working Paper No. 16/2005
Number of pages: 37 Posted: 30 Aug 2004
Yin-Wong Cheung and Jude Yuen
City University of Hong Kong - Department of Economics & Finance and University of California, Santa Cruz - Department of Economics
Downloads 167 (175,616)
Citation 1

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Common Stochastic Trend, Business Cycles, Output Losses, Exchange Rate Regime, Asian Economies

36.

The Renminbi Central Parity: An Empirical Investigation

Downloads 166 (176,516)
Citation 2

The Renminbi Central Parity: An Empirical Investigation

Pacific Economic Review, Volume 23, Issue 2, Pages 164-183, May 2018
Number of pages: 33 Posted: 20 Jun 2016 Last Revised: 22 Jul 2018
Yin-Wong Cheung, Cho-Hoi Hui and Andrew Tsang
City University of Hong Kong - Department of Economics & Finance, Hong Kong Monetary Authority - Research Department and Hong Kong Monetary Authority
Downloads 135 (209,983)
Citation 5

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China, RMB, exchange rate policy, central parity rate, on-shore and off-shore rates

The Renminbi Central Parity: An Empirical Investigation

BOFIT Discussion Paper No. 7/2017
Number of pages: 33 Posted: 24 May 2017
Yin-Wong Cheung, Cho-Hoi Hui and Andrew Tsang
City University of Hong Kong - Department of Economics & Finance, Hong Kong Monetary Authority - Research Department and Hong Kong Monetary Authority
Downloads 31 (466,153)

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China, RMB, exchange rate policy, central parity rate, onshore and offshore rates

37.

Return, Trading Volume, and Market Depth in Currency Futures Markets

HKIMR Working Paper No.20/2008
Number of pages: 24 Posted: 08 Jan 2009
Ai-ru Meg Cheng and Yin-Wong Cheung
University of California, Santa Cruz - Department of Economics and City University of Hong Kong - Department of Economics & Finance
Downloads 164 (178,345)
Citation 3

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Stochastic Volatility Model, Multiple Latent Factors, Model Comparison, Volatility Spillovers

38.

Sectoral Trends and Cycles in Germany

CESifo Working Paper Series No. 502
Number of pages: 28 Posted: 01 Aug 2001
Yin-Wong Cheung and Frank Westermann
City University of Hong Kong - Department of Economics & Finance and University of Osnabrueck - Department of Economics
Downloads 158 (184,091)

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39.

A Cross-Country Empirical Analysis of International Reserves

CESifo Working Paper Series No. 2654
Number of pages: 47 Posted: 28 May 2009
Yin-Wong Cheung and Hiro Ito
City University of Hong Kong - Department of Economics & Finance and Portland State University - Department of Economics
Downloads 155 (187,044)
Citation 8

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developed vs developing economies, excess hoarding, macro determinants, financial factors, institutional variables

40.

Nominal Exchange Rate Flexibility and Real Exchange Rate Adjustment: Evidence from Dual Exchange Rates in Developing Countries

CESifo Working Paper Series No. 1512, HKIMR Working Paper No. 9/2007
Number of pages: 29 Posted: 09 Aug 2005
Yin-Wong Cheung and Kon S. Lai
City University of Hong Kong - Department of Economics & Finance and California State University, Los Angeles - Department of Economics & Statistics
Downloads 144 (198,727)

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Real exchange rate, Fractional time series, Half life, Adjustment speed

41.

China’s Current Account and Exchange Rate

HKIMR Working Paper No.14/2009
Number of pages: 45 Posted: 01 Jun 2009
Yin-Wong Cheung, Menzie David Chinn and Eiji Fujii
City University of Hong Kong - Department of Economics & Finance, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and Kwansei Gakuin University - School of Economics
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Citation 13

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42.

China's Capital Controls - Through the Prism of Covered Interest Differentials

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Citation 7

China's Capital Controls - Through the Prism of Covered Interest Differentials

CESifo Working Paper Series No. 4377
Number of pages: 32 Posted: 04 Sep 2013
Yin-Wong Cheung and Risto Herrala
City University of Hong Kong - Department of Economics & Finance and European Central Bank (ECB) - Directorate General International and European Relations
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NDF implied RMB interest rate, capital controls, asymmetric response, macro determinants, credit market tightness

China's Capital Controls – Through the Prism of Covered Interest Differentials

BOFIT Discussion Paper No. 22/2013
Number of pages: 35 Posted: 14 Sep 2013
Risto Herrala and Yin-Wong Cheung
European Central Bank (ECB) - Directorate General International and European Relations and City University of Hong Kong - Department of Economics & Finance
Downloads 44 (410,097)
Citation 4

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NDF implied RMB interest rate, capital controls, asymmetric response, macro determinants, credit market tightness

China's Capital Controls – Through the Prism of Covered Interest Differentials

HKIMR Working Paper No.14/2013
Number of pages: 32 Posted: 25 Sep 2013
Yin-Wong Cheung and Risto Herrala
City University of Hong Kong - Department of Economics & Finance and European Central Bank (ECB) - Directorate General International and European Relations
Downloads 22 (517,476)
Citation 4

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NDF Implied RMB Interest Rate, Capital Controls, Asymmetric Response, Macro Determinants, Credit Market Tightness

43.

Renminbising China's Foreign Assets

Downloads 136 (208,090)
Citation 6

Renminbising China's Foreign Assets

CESifo Working Paper Series No. 3009
Number of pages: 27 Posted: 17 Apr 2010
Yin-Wong Cheung, Guonan Ma and Robert N. McCauley
City University of Hong Kong - Department of Economics & Finance, Bruegel and Bank for International Settlements (BIS)
Downloads 134 (211,240)

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renminbi internationalisation, net international asset position, convertibility, exchange rate uncertainty, dollar peg

Renminbising China'S Foreign Assets

Pacific Economic Review, Vol. 16, Issue 1, pp. 1-17, 2011
Number of pages: 17 Posted: 08 Feb 2011
Yin-Wong Cheung, Guonan Ma and Robert N. McCauley
City University of Hong Kong - Department of Economics & Finance, Bruegel and Bank for International Settlements (BIS)
Downloads 2 (656,867)
Citation 8
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44.

Productivity Shocks, Monetary Shocks, and the Short- and Long-Run Dynamics of Exchange Rates and Relative Prices

Lund University Dept. of Econ. Working Paper No. 2000:4
Number of pages: 32 Posted: 08 Dec 2001
U. Michael Bergman, Yin-Wong Cheung and Kon S. Lai
University of Copenhagen - Department of Economics, City University of Hong Kong - Department of Economics & Finance and California State University, Los Angeles - Department of Economics & Statistics
Downloads 136 (208,090)
Citation 14

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Real exchange rate, real shock, monetary shock, transitory component, common trend

45.

Testing for Output Convergence: A Re-Examination

CESifo Working Paper Series No. 319
Number of pages: 31 Posted: 19 Feb 2001
Antonio I. Garcia Pascual and Yin-Wong Cheung
International Monetary Fund (IMF) - Western Hemisphere Department and City University of Hong Kong - Department of Economics & Finance
Downloads 135 (209,349)

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Output convergence, multivariate test, unit root test, stationarity test

46.

Cross-Country Relative Price Volatility: Effects of Market Structure

Downloads 122 (226,372)
Citation 1

Cross-Country Relative Price Volatility: Effects of Market Structure

CESifo Working Paper Series No. 1456, HKIMR Working Paper No. 19/2005
Number of pages: 65 Posted: 26 Apr 2005
Yin-Wong Cheung and Eiji Fujii
City University of Hong Kong - Department of Economics & Finance and Kwansei Gakuin University - School of Economics
Downloads 108 (248,707)
Citation 1

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relative price volatility, market structure, price-cost margin, variance decomposition

Cross-Country Relative Price Volatility: Effects of Market Structure

Review of International Economics, Vol. 14, No. 5, pp. 836-848, November 2006
Number of pages: 13 Posted: 27 Oct 2006
Yin-Wong Cheung and Eiji Fujii
City University of Hong Kong - Department of Economics & Finance and Kwansei Gakuin University - School of Economics
Downloads 14 (568,716)
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47.

Deviations from the Law of One Price in Japan

CESifo Working Paper Series No. 2275
Number of pages: 45 Posted: 09 Apr 2008
Yin-Wong Cheung and Eiji Fujii
City University of Hong Kong - Department of Economics & Finance and Kwansei Gakuin University - School of Economics
Downloads 120 (229,261)
Citation 2

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price dispersion, tradability, asymmetric inflation effects, market integration

48.

A Factor Analysis of Trade Integration: The Case of Asian and Oceanic Economies

HKIMR Working Paper No.13/2009
Number of pages: 24 Posted: 08 Apr 2009
Yin-Wong Cheung, Matthew S. Yiu and Kenneth K. Chow
City University of Hong Kong - Department of Economics & Finance, Hong Kong Monetary Authority - Hong Kong Institute for Monetary Research (HKIMR) and Hong Kong Institute for Monetary Research
Downloads 119 (230,643)
Citation 2

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Factor Model, Principal Component, Growth, Trade Barriers, ASEAN

49.

A Long Memory Model with Mixed Normal GARCH for US Inflation Data

Number of pages: 25 Posted: 06 Aug 2009
Yin-Wong Cheung and Sang-Kuck Chung
City University of Hong Kong - Department of Economics & Finance and Inje University - Department of Economics
Downloads 114 (238,052)
Citation 1

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Heteroskedasticity, Skewness, Inflation, Long Memory, Normal Mixture

50.

Output Dynamics of the G7 Countries - Stochastic Trends and Cyclical Movements

CESifo Working Paper Series No. 220
Number of pages: 18 Posted: 16 Jun 2001
Frank Westermann and Yin-Wong Cheung
University of Osnabrueck - Department of Economics and City University of Hong Kong - Department of Economics & Finance
Downloads 111 (242,585)
Citation 3

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51.

Hoarding of International Reserves: A Comparison of the Asian and Latin American Experiences

HKIMR Working Paper No. 7/2008
Number of pages: 35 Posted: 16 Jul 2008
Yin-Wong Cheung and Hiro Ito
City University of Hong Kong - Department of Economics & Finance and Portland State University - Department of Economics
Downloads 110 (244,141)
Citation 3

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Foreign Exchange Reserves, Macro Determinants, Financial Factors, Institutional Variables

52.

The RMB Central Parity Formation Mechanism: August 2015 to December 2016

Journal of International Money and Finance, Forthcoming
Number of pages: 21 Posted: 22 Mar 2017 Last Revised: 24 Jul 2018
Yin-Wong Cheung, Cho-Hoi Hui and Andrew Tsang
City University of Hong Kong - Department of Economics & Finance, Hong Kong Monetary Authority - Research Department and Hong Kong Monetary Authority
Downloads 102 (257,369)
Citation 3

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China’s Exchange Rate Policy, Currency Basket, Multiplicative Interaction Model, Onshore and Offshore RMB Rates, Volatility

53.

Exchange Rate Prediction Redux: New Models, New Data, New Currencies

Downloads 102 (257,369)
Citation 1

Exchange Rate Prediction Redux: New Models, New Data, New Currencies

ECB Working Paper No. 2018
Number of pages: 58 Posted: 13 Feb 2017
Yin-Wong Cheung, Menzie David Chinn, Antonio I. Garcia Pascual and Yi Zhang
City University of Hong Kong - Department of Economics & Finance, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics, International Monetary Fund (IMF) - Western Hemisphere Department and University of Wisconsin - Madison - Department of Economics
Downloads 81 (300,625)
Citation 2

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Exchange Rates, Monetary Model, Interest Rate Parity, Behavioral Equilibrium Exchange Rate Model, Forecasting Performance

Exchange Rate Prediction Redux: New Models, New Data, New Currencies

NBER Working Paper No. w23267
Number of pages: 61 Posted: 27 Mar 2017 Last Revised: 05 Apr 2017
Yin-Wong Cheung, Menzie David Chinn, Antonio Pascual and Yi Zhang
City University of Hong Kong - Department of Economics & Finance, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics, Barclays - Macro Research and University of Wisconsin - Madison - Department of Economics
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Citation 4
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54.

The Illusion of Precision and the Role of the Renminbi in Regional Integration

HKIMR Working Paper No. 18/2006
Number of pages: 36 Posted: 22 Aug 2007
Yin-Wong Cheung, Menzie David Chinn and Eiji Fujii
City University of Hong Kong - Department of Economics & Finance, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and Kwansei Gakuin University - School of Economics
Downloads 100 (260,797)
Citation 8

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exchange rate policy, regional integration, market integration, purchasing power parity, Balassa-Samuelson, currency misalignment

55.

Speculative Attacks: A Laboratory Study in Continuous Time

Downloads 92 (275,269)
Citation 25

Speculative Attacks: A Laboratory Study in Continuous Time

CESifo Working Paper Series No. 2420
Number of pages: 37 Posted: 13 Oct 2008
Yin-Wong Cheung and Daniel Friedman
City University of Hong Kong - Department of Economics & Finance and University of California, Santa Cruz - Department of Economics
Downloads 66 (338,290)
Citation 5

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currency crisis, speculative attack, laboratory experiment, coordination game, preemption, large player

Speculative Attacks: A Laboratory Study in Continuous Time

HKIMR Working Paper No.7/2009
Number of pages: 33 Posted: 12 Mar 2009
Yin-Wong Cheung and Daniel Friedman
City University of Hong Kong - Department of Economics & Finance and University of California, Santa Cruz - Department of Economics
Downloads 26 (493,102)
Citation 25

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Currency Crisis, Speculative Attack, Laboratory Experiment, Coordination Game, Pre-emption, Large Player

56.

The Empirics of China’s Outward Direct Investment

HKIMR Working Paper No.17/2009
Number of pages: 41 Posted: 02 Jun 2009
Yin-Wong Cheung and Xingwang Qian
City University of Hong Kong - Department of Economics & Finance and State University of New York, Buffalo State
Downloads 90 (279,150)
Citation 7

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Market Seeking, Resources Seeking, Servicing Exports, International Reserves, Agglomeration Effect

57.

How Do Uk-Based Foreign Exchange Dealers Think Their Market Operates?

NBER Working Paper No. w7524
Number of pages: 33 Posted: 24 Mar 2000 Last Revised: 15 Oct 2010
Yin-Wong Cheung, Menzie David Chinn and Ian W. Marsh
City University of Hong Kong - Department of Economics & Finance, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and City University London - Sir John Cass Business School
Downloads 90 (279,150)
Citation 31

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58.

China's Bilateral Currency Swap Lines

Downloads 88 (283,112)

China's Bilateral Currency Swap Lines

CESifo Working Paper Series No. 5736
Number of pages: 29 Posted: 08 Mar 2016
Zhitao Lin, Zhan Wenjie and Yin-Wong Cheung
Jinan University - Department of Finance, Huazhong University of Science and Technology (Formerly Tongi Medical University) - School of Management and City University of Hong Kong - Department of Economics & Finance
Downloads 87 (287,550)

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RMB swap lines, Heckman two-stage method, proportional hazard model, trade intensity, political factors and institutional characteristics

China's Bilateral Currency Swap Lines

China & World Economy, Vol. 24, Issue 6, pp. 19-42, 2016
Number of pages: 24 Posted: 17 Nov 2016
Zhitao Lin, Zhan Wenjie and Yin-Wong Cheung
Jinan University - Department of Finance, Huazhong University of Science and Technology (Formerly Tongi Medical University) - School of Management and City University of Hong Kong - Department of Economics & Finance
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Heckman two‐stage method, political factors and institutional characteristics, proportional hazard model, RMB swap lines, trade intensity

59.

Trade Openness, Market Competition, and Inflation: Some Sectoral Evidence from OECD Countries

CESifo Working Paper Series No. 3690
Number of pages: 29 Posted: 11 Jan 2012
Mahir Binici, Yin-Wong Cheung and Kon S. Lai
Central Bank of Turkey, City University of Hong Kong - Department of Economics & Finance and California State University, Los Angeles - Department of Economics & Statistics
Downloads 85 (289,320)
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trade openness, inflation, market structure, static panel, dynamic panel

60.

Exchange Rate Dynamics Under Alternative Optimal Interest Rate Rules

Downloads 83 (293,516)
Citation 3

Exchange Rate Dynamics Under Alternative Optimal Interest Rate Rules

CESifo Working Paper Series No. 3577
Number of pages: 44 Posted: 21 Sep 2011
Mahir Binici and Yin-Wong Cheung
Central Bank of Turkey and City University of Hong Kong - Department of Economics & Finance
Downloads 46 (402,574)

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Taylor Rule, exchange rate determination, mean squared prediction error, direction of change, foreign exchange risk premium

Exchange Rate Dynamics Under Alternative Optimal Interest Rate Rules

Hong Kong Institute for Monetary Research Working Paper No. 36/2011
Number of pages: 53 Posted: 01 Jan 2012
Mahir Binici and Yin-Wong Cheung
Central Bank of Turkey and City University of Hong Kong - Department of Economics & Finance
Downloads 37 (438,701)
Citation 5

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Taylor Rule, Exchange Rate Determination, Mean Squared Prediction Error, Direction of Change, Foreign Exchange Risk Premium

61.

Effects of Capital Flow on the Equity and Housing Markets in Hong Kong

Downloads 82 (295,675)
Citation 1

Effects of Capital Flow on the Equity and Housing Markets in Hong Kong

HKIMR Working Paper No.01/2017 (Revised version: April 2017)
Number of pages: 26 Posted: 02 Feb 2017 Last Revised: 21 Apr 2017
Yin-Wong Cheung, Kenneth K. Chow and Matthew S. Yiu
City University of Hong Kong - Department of Economics & Finance, Hong Kong Institute for Monetary Research and Hong Kong Monetary Authority - Hong Kong Institute for Monetary Research (HKIMR)
Downloads 82 (298,384)

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Capital flows, currency-based measure, illicit flow measure, equity market, real estate market

Effects of Capital Flow on the Equity and Housing Markets in Hong Kong

Pacific Economic Review, Vol. 22, Issue 3, pp. 332-349, 2017
Number of pages: 18 Posted: 28 Aug 2017
Yin-Wong Cheung, Kenneth K. Chow and Matthew Yiu
City University of Hong Kong - Department of Economics & Finance, Hong Kong Institute for Monetary Research and Hong Kong Institute for Monetary Research
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62.

A Reappraisal of the Border Effect on Relative Price Volatility

CESifo Working Paper Series No. 1640, HKIMR Working Paper No. 4/2006
Number of pages: 21 Posted: 16 Feb 2006
Yin-Wong Cheung and Kon S. Lai
City University of Hong Kong - Department of Economics & Finance and California State University, Los Angeles - Department of Economics & Statistics
Downloads 80 (300,000)

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price volatility, exchange rate volatility, national border, distance, dissimilar shocks

63.

The Structural Behavior of China–Us Trade Flows

Downloads 79 (302,287)

The Structural Behavior of China–Us Trade Flows

BOFIT Discussion Paper No. 23/2014
Number of pages: 37 Posted: 20 May 2016
Yin-Wong Cheung, Menzie David Chinn and Xingwang Qian
City University of Hong Kong - Department of Economics & Finance, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and State University of New York, Buffalo State
Downloads 48 (395,304)

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F12, F41

The Structural Behavior of China-US Trade Flows

CESifo Working Paper Series No. 5123
Number of pages: 32 Posted: 14 Jan 2015
Yin-Wong Cheung, Menzie David Chinn and Xingwang Qian
City University of Hong Kong - Department of Economics & Finance, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and State University of New York, Buffalo State
Downloads 31 (466,153)

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import, export, elasticity, real exchange rate, processing trade

64.

East Asian Equity Markets, Financial Crises, and the Japanese Currency

HKIMR Working Paper No. 03/2003
Number of pages: 19 Posted: 04 Sep 2007
Yin-Wong Cheung, K. C. Ng and Stephen Yan-Leung Cheung
City University of Hong Kong - Department of Economics & Finance, affiliation not provided to SSRN and City University of Hong Kong (CityUHK) - Department of Economics & Finance
Downloads 77 (306,912)
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Causality, Yen Effect, Market Interaction, Financial Crisis

65.

Are Macroeconomic Forecasts Informative? Cointegration Evidence from the Asa-Nber Surveys

NBER Working Paper No. w6926
Number of pages: 27 Posted: 12 Jul 2000
Yin-Wong Cheung and Menzie David Chinn
City University of Hong Kong - Department of Economics & Finance and University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics
Downloads 71 (321,330)
Citation 1

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66.

China's Capital Flight: Pre- and Post-Crisis Experiences

CESifo Working Paper Series No. 5584
Number of pages: 41 Posted: 24 Nov 2015
Yin-Wong Cheung, Sven Steinkamp and Frank Westermann
City University of Hong Kong - Department of Economics & Finance, Universität Osnabrück and University of Osnabrueck - Department of Economics
Downloads 69 (326,348)
Citation 7

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world bank residual method, trade misinvoicing, quantitative easing, capital controls, covered interest disparity

67.

Exchange Rate Misalignment Estimates – Sources of Differences

BOFIT Discussion Paper No. 25/2011
Number of pages: 56 Posted: 12 Oct 2011
Yin-Wong Cheung and Eiji Fujii
City University of Hong Kong - Department of Economics & Finance and Kwansei Gakuin University - School of Economics
Downloads 68 (328,926)
Citation 4

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Penn effect regression, data revision, PPP-based data, measurement factors, economic factors

68.

Are All Measures of International Reserves Created Equal? An Empirical Comparison of International Reserve Ratios

Downloads 67 (331,570)
Citation 2

Are All Measures of International Reserves Created Equal? An Empirical Comparison of International Reserve Ratios

HKIMR Working Paper No.13/2008
Number of pages: 69 Posted: 08 Aug 2008
Yin-Wong Cheung and Clement Yuk-Pang Wong
City University of Hong Kong - Department of Economics & Finance and City University of Hong Kong (CityUHK) - Department of Economics & Finance
Downloads 35 (447,404)
Citation 2

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International Reserve Ratios, Structural Characteristics, Cross-Economy Analysis

Are All Measures of International Reserves Created Equal? An Empirical Comparison of International Reserve Ratios

Economics: The Open-Access, Open-Assessment E-Journal, Vol. 2, 2008-15
Number of pages: 63 Posted: 18 Dec 2010
Yin-Wong Cheung and Clement Yuk-Pang Wong
City University of Hong Kong - Department of Economics & Finance and City University of Hong Kong (CityUHK) - Department of Economics & Finance
Downloads 21 (523,760)

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International reserve ratios, structural characteristics, cross-economy analysis

Are All Measures of International Reserves Created Equal? An Empirical Comparison of International Reserve Ratios

Economics Discussion Paper No. 2007-24
Number of pages: 75 Posted: 29 Nov 2010
Yin-Wong Cheung and Clement Yuk-Pang Wong
City University of Hong Kong - Department of Economics & Finance and City University of Hong Kong (CityUHK) - Department of Economics & Finance
Downloads 11 (588,601)

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International Reserve Ratios, Structural Characteristics, Cross-Economy Analysis

69.

Renminbising China’s Foreign Assets

HKIMR Working Paper No.16/2010
Number of pages: 22 Posted: 30 Jun 2010
Yin-Wong Cheung, Guonan Ma and Robert N. McCauley
City University of Hong Kong - Department of Economics & Finance, Bruegel and Bank for International Settlements (BIS)
Downloads 64 (339,532)
Citation 14

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Renminbi Internationalisation, Net International Asset Position, Convertibility, Exchange Rate Uncertainty, Dollar Peg

70.

Accumulation of Reserves and Keeping Up with the Joneses: The Case of Latam Economies

HKIMR Working Paper No.21/2010
Number of pages: 29 Posted: 20 Sep 2010
Yin-Wong Cheung and Rajeswari Sengupta
City University of Hong Kong - Department of Economics & Finance and Indira Gandhi Institute of Development Research (IGIDR)
Downloads 63 (342,377)
Citation 5

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Demand for International Reserves, ‘Mrs. Machlup’s Wardrobe’ Hypothesis, Speculative Attack, Competitive Hoarding, Financial Crisis

71.

Capital Flight: China’s Experience

HKIMR Working Paper No. 06/2010
Number of pages: 35 Posted: 22 Jun 2010
Yin-Wong Cheung and Xingwang Qian
City University of Hong Kong - Department of Economics & Finance and State University of New York, Buffalo State
Downloads 61 (347,835)
Citation 72

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Covered Interest Differential, Forward Premium, Expected Depreciation, Asymmetric Response, Macro Determinants

72.

The Renminbi Central Parity: An Empirical Investigation

CESifo Working Paper Series No. 6963
Number of pages: 33 Posted: 26 Jul 2016
Yin-Wong Cheung, Cho-Hoi Hui and Andrew Tsang
City University of Hong Kong - Department of Economics & Finance, Hong Kong Monetary Authority - Research Department and Hong Kong Monetary Authority
Downloads 58 (356,596)

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China, RMB, exchange rate policy, central parity rate, on-shore and off-shore rates

73.

Exchange Rate Misalignment Estimates - Sources of Differences

CESifo Working Paper Series No. 3555
Number of pages: 50 Posted: 01 Sep 2011
Yin-Wong Cheung and Eiji Fujii
City University of Hong Kong - Department of Economics & Finance and Kwansei Gakuin University - School of Economics
Downloads 57 (359,608)

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Penn effect eegression, data revision, PPP-based data, measurement factors, economic factors

74.

The Penn Effect within a Country - Evidence from Japan

CESifo Working Paper Series No. 3955
Number of pages: 37 Posted: 11 Oct 2012
Yin-Wong Cheung and Eiji Fujii
City University of Hong Kong - Department of Economics & Finance and Kwansei Gakuin University - School of Economics
Downloads 56 (362,646)
Citation 1

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agglomeration effect, Penn effect, sectoral productivity differential, tradables and non-tradables, population density

75.

Offshore Renminbi Trading: Findings from the 2013 Triennial Central Bank Survey

HKIMR Working Paper No.14/2016
Number of pages: 26 Posted: 10 Aug 2016
Matthew S. Yiu and Yin-Wong Cheung
Hong Kong Monetary Authority - Hong Kong Institute for Monetary Research (HKIMR) and City University of Hong Kong - Department of Economics & Finance
Downloads 52 (375,207)
Citation 1

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76.

The Exchange Rate Effects of Macro News after the Global Financial Crisis

Globalization and Monetary Policy Institute Working Paper No. 305
Number of pages: 33 Posted: 08 Mar 2017
Yin-Wong Cheung, Rasmus Fatum and Yohei Yamamoto
City University of Hong Kong - Department of Economics & Finance, University of Alberta - Department of Marketing, Business Economics & Law and Hitotsubashi University
Downloads 51 (378,414)

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77.

Testing for Output Convergence: A Re-Examination

HKIMR Working Paper No. 5/2004, Oxford Economic Papers, Vol. 56, pp. 45-63, 2004
Number of pages: 21 Posted: 22 Aug 2007
Yin-Wong Cheung and Antonio I. Garcia Pascual
City University of Hong Kong - Department of Economics & Finance and International Monetary Fund (IMF) - Western Hemisphere Department
Downloads 47 (391,939)
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Output convergence, panel data test, unit root test, stationarity test

78.

International Reserves Before and After the Global Crisis: Is There No End to Hoarding?

Downloads 45 (398,879)
Citation 2

International Reserves Before and After the Global Crisis: Is There No End to Hoarding?

CESifo Working Paper Series No. 5237
Number of pages: 39 Posted: 20 Mar 2015
Joshua Aizenman, Yin-Wong Cheung and Hiro Ito
University of Southern California - Department of Economics, City University of Hong Kong - Department of Economics & Finance and Portland State University - Department of Economics
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global financial crisis, gross saving, swap agreements, macro-prudential policies, sovereign wealth funds

International Reserves Before and after the Global Crisis: Is There No End to Hoarding?

NBER Working Paper No. w20386
Number of pages: 47 Posted: 18 Aug 2014
Joshua Aizenman, Yin-Wong Cheung and Hiro Ito
University of Southern California - Department of Economics, City University of Hong Kong - Department of Economics & Finance and Portland State University - Department of Economics
Downloads 10 (595,277)
Citation 22

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79.

Are Chinese Trade Flows Different?

BOFIT Discussion Paper No. 14/2012
Number of pages: 39 Posted: 18 Jun 2012
Yin-Wong Cheung, Menzie David Chinn and Xingwang Qian
City University of Hong Kong - Department of Economics & Finance, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and State University of New York, Buffalo State
Downloads 43 (406,101)
Citation 20

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China, imports, exports, real exchange rate

80.

A Multiple-Horizon Search for the Role of Trade and Financial Factors in Bilateral Real Exchange Rate Volatility

HKIMR Working Paper No. 21/2009
Number of pages: 31 Posted: 30 Jun 2009
Yin-Wong Cheung and Kon S. Lai
City University of Hong Kong - Department of Economics & Finance and California State University, Los Angeles - Department of Economics & Statistics
Downloads 43 (406,101)

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Exchange Rate Volatility, Time Horizons, Trade Openness, Financial Openness, Financial Depth

81.

The Nexus of Official and Illicit Capital Flows – The Case of Hong Kong

HKIMR Working Paper No.25/2015
Number of pages: 59 Posted: 08 Dec 2015
Yin-Wong Cheung, Kenneth K. Chow and Matthew S. Yiu
City University of Hong Kong - Department of Economics & Finance, Hong Kong Institute for Monetary Research and Hong Kong Monetary Authority - Hong Kong Institute for Monetary Research (HKIMR)
Downloads 38 (425,134)
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82.

Are Chinese Trade Flows Different?

Downloads 35 (437,298)

Are Chinese Trade Flows Different?

NBER Working Paper No. w17875
Number of pages: 53 Posted: 02 Mar 2012
Yin-Wong Cheung, Menzie David Chinn and Xingwang Qian
City University of Hong Kong - Department of Economics & Finance, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and State University of New York, Buffalo State
Downloads 18 (542,856)

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Are Chinese Trade Flows Different?

La Follette School of Public Affairs Working Paper Series No. 2012-005
Number of pages: 37 Posted: 24 May 2012
Yin-Wong Cheung, Menzie David Chinn and Xingwang Qian
City University of Hong Kong - Department of Economics & Finance, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and State University of New York, Buffalo State
Downloads 17 (549,300)

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imports, exports, elasticity, deflator, exchange rate

83.

Market Structure and the Persistence of Sectoral Real Exchange Rates

NBER Working Paper No. w7408
Number of pages: 46 Posted: 03 Feb 2000 Last Revised: 02 Apr 2001
Yin-Wong Cheung, Menzie David Chinn and Eiji Fujii
City University of Hong Kong - Department of Economics & Finance, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and Kwansei Gakuin University - School of Economics
Downloads 35 (437,298)
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84.

Further Investigation of the Uncertain Unit Root in Gnp

Downloads 30 (459,258)
Citation 19

Further Investigation of the Uncertain Unit Root in Gnp

NBER Working Paper No. t0206
Number of pages: 26 Posted: 01 Sep 2000 Last Revised: 27 Jul 2010
Yin-Wong Cheung and Menzie David Chinn
City University of Hong Kong - Department of Economics & Finance and University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics
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Citation 20

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85.

Recent Advances in International Finance: Introduction

Pacific Economic Review, Vol. 10, No. 1, pp. 1-3, February 2005
Number of pages: 3 Posted: 14 Mar 2005
Yin-Wong Cheung
City University of Hong Kong - Department of Economics & Finance
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86.

Pitfalls in Measuring Exchange Rate Misalignment: The Yuan and Other Currencies

NBER Working Paper No. w14168
Number of pages: 35 Posted: 16 Jul 2008 Last Revised: 19 Sep 2010
Yin-Wong Cheung, Menzie David Chinn and Eiji Fujii
City University of Hong Kong - Department of Economics & Finance, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and Kwansei Gakuin University - School of Economics
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Citation 23

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87.

The Structural Behavior of China-U.S. Trade Flows

Number of pages: 33 Posted: 03 Dec 2014
Yin-Wong Cheung, Menzie David Chinn and Xingwang Qian
City University of Hong Kong - Department of Economics & Finance, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and State University of New York, Buffalo State
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import, export, elasticity, real exchange rate, processing trade

88.

The Performance of Trading Rules on Four Asian Currency Exchange Rates

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Citation 3

The Performance of Trading Rules on Four Asian Currency Exchange Rates

Multinational Finance Journal, Vol. 1, No. 1, p. 1-22, 1997
Number of pages: 22 Posted: 18 Jul 2015
Yin-Wong Cheung and Clement Yuk-Pang Wong
City University of Hong Kong - Department of Economics & Finance and City University of Hong Kong (CityUHK) - Department of Economics & Finance
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Citation 3

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89.

Information Flows between Eurodollar Spot and Futures Markets

Multinational Finance Journal, Vol. 1, No. 4, p. 255-271, 1997
Number of pages: 17 Posted: 17 Jul 2015
Yin-Wong Cheung and Hung-Gay Fung
City University of Hong Kong - Department of Economics & Finance and University of Missouri at Saint Louis - College of Business Administration
Downloads 21 (506,930)
Citation 9

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Granger causality; cointegration; Eurodollar spot and futures interest rates; information flow

90.

Investment and Growth in Rich and Poor Countries

NBER Working Paper No. w17788
Number of pages: 29 Posted: 28 Jan 2012
Yin-Wong Cheung, Michael P. Dooley and Vladyslav Sushko
City University of Hong Kong - Department of Economics & Finance, University of California at Santa Cruz and Bank for International Settlements (BIS) - Monetary and Economic Department
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91.

Integration, Cointegration and the Forecast Consistency of Structural Exchange Rate Models

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Citation 5

Integration, Cointegration and the Forecast Consistency of Structural Exchange Rate Models

NBER Working Paper No. w5943
Number of pages: 55 Posted: 15 Sep 2000 Last Revised: 05 Oct 2010
Yin-Wong Cheung and Menzie David Chinn
City University of Hong Kong - Department of Economics & Finance and University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics
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Citation 5

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92.

Truths and Myths About RMB Misalignment: A Meta-Analysis

BOFIT Discussion Paper No. 3/2019
Number of pages: 47 Posted: 01 Mar 2019 Last Revised: 02 Mar 2019
Yin-Wong Cheung and Shi He
City University of Hong Kong - Department of Economics & Finance and City University of Hong Kong (CityUHK)
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Bayesian Model Averaging (BMA), clustering effects, median probability model specification, RMB undervaluation, study characteristics

93.

The Interest Rate Effect on Private Saving: Alternative Perspectives

NBER Working Paper No. w22872
Number of pages: 52 Posted: 28 Nov 2016
Joshua Aizenman, Yin-Wong Cheung and Hiro Ito
University of Southern California - Department of Economics, City University of Hong Kong - Department of Economics & Finance and Portland State University - Department of Economics
Downloads 6 (596,141)
Citation 1

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94.

Estimating Currency Misalignment Using the Penn Effect: It's Not as Simple as it Looks

NBER Working Paper No. w22539
Number of pages: 38 Posted: 22 Aug 2016
Yin-Wong Cheung, Menzie David Chinn and Xin Nong
City University of Hong Kong - Department of Economics & Finance, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and University of Texas at Austin
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Citation 1

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95.

Renminbi Going Global

China & World Economy, Vol. 19, No. 2, pp. 1-18, 2011
Number of pages: 18 Posted: 05 Apr 2011
Xiaoli Chen and Yin-Wong Cheung
Shandong University and City University of Hong Kong - Department of Economics & Finance
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Citation 26
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cross-border trade settlement, off-shore RMB market, panda bonds, RMB internationalization

96.

China's Outward Direct Investment in Africa

Review of International Economics, Vol. 20, Issue 2, pp. 201-220, 2012
Number of pages: 20 Posted: 19 Apr 2012
Yin-Wong Cheung, Jakob de Haan, Xingwang Qian and Shu Yu
City University of Hong Kong - Department of Economics & Finance, De Nederlandsche Bank, State University of New York, Buffalo State and University of Groningen - Faculty of Economics and Business
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Citation 18
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97.

Empirics of China's Outward Direct Investment

Pacific Economic Review, Vol. 14, Issue 3, pp. 312-341, August 2009
Number of pages: 30 Posted: 13 Oct 2009
Yin-Wong Cheung and Xingwang Qian
City University of Hong Kong - Department of Economics & Finance and State University of New York, Buffalo State
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Citation 31
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98.

The Currency Composition of International Reserves, Demand for International Reserves, and Global Safe Assets

NBER Working Paper No. w25934
Number of pages: 39 Posted: 11 Jun 2019
Joshua Aizenman, Yin-Wong Cheung and Xingwang Qian
University of Southern California - Department of Economics, City University of Hong Kong - Department of Economics & Finance and State University of New York, Buffalo State
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99.

Renminbi Central Parity: An Empirical Investigation

Pacific Economic Review, Vol. 23, Issue 2, pp. 164-183, 2018
Number of pages: 20 Posted: 11 May 2018
Yin-Wong Cheung, Cho‐Hoi Hui and Andrew Tsang
City University of Hong Kong - Department of Economics & Finance, Hong Kong Monetary Authority and Hong Kong Monetary Authority
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Citation 5
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100.

Hoarding of International Reserves: It's a Neighbourly Day in Asia

Pacific Economic Review, Vol. 24, Issue 2, pp. 208-240, 2019
Number of pages: 33 Posted: 22 May 2019
Yin-Wong Cheung, Xingwang Qian and Eli Remolona
City University of Hong Kong - Department of Economics & Finance, State University of New York, Buffalo State and Bank for International Settlements (BIS) - BIS Representative Office for Asia and the Pacific
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101.

The Missing Link: China's Contracted Engineering Projects in Africa

Review of Development Economics, Vol. 18, Issue 3, pp. 564-580, 2014
Number of pages: 17 Posted: 26 Jul 2014
Yin-Wong Cheung, Xingwang Qian, Jacob de Haan and Shu Yu
City University of Hong Kong - Department of Economics & Finance, State University of New York, Buffalo State, University of Groningen and University of Groningen - Faculty of Economics and Business
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Citation 3
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102.

China's Capital Controls: Through the Prism of Covered Interest Differentials

Pacific Economic Review, Vol. 19, Issue 1, pp. 112-134, 2014
Number of pages: 23 Posted: 20 Feb 2014
Yin-Wong Cheung and Risto Herrala
City University of Hong Kong - Department of Economics & Finance and European Central Bank (ECB) - Directorate General International and European Relations
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103.

Which Measure of Aggregate Output Should We Use

Journal of Macroeconomics, Vol. 22, No. 2, Spring 2000
Posted: 24 Feb 2000
Yin-Wong Cheung and Eiji Fujii
City University of Hong Kong - Department of Economics & Finance and Kwansei Gakuin University - School of Economics

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104.

Does Austria Respond to the German or the U.S. Business Cycles?

UC Santa Cruz Economics Working Paper No. 451
Posted: 23 Jan 2000
Yin-Wong Cheung
City University of Hong Kong - Department of Economics & Finance

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