Yin-Wong Cheung

University of California, Santa Cruz - Department of Economics

Professor Emeritus

Engineering 2, Department of Economics

University of California

Santa Cruz, CA 95064

United States

SCHOLARLY PAPERS

99

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384

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1,321

Scholarly Papers (99)

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
University of California, Santa Cruz - Department of Economics and University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics
Downloads 547 (70,873)

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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: 09 Apr 2022
Yin-Wong Cheung and Menzie David Chinn
University of California, Santa Cruz - Department of Economics and University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics
Downloads 75 (435,301)

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2.

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
University of California, Santa Cruz - Department of Economics and University of California, Santa Cruz - Department of Economics
Downloads 584 (65,992)

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

3.

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

Number of pages: 44 Posted: 08 Feb 2001
Yin-Wong Cheung and Menzie David Chinn
University of California, Santa Cruz - Department of Economics and University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics
Downloads 579 (66,694)
Citation 9

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4.

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
University of California, Santa Cruz - Department of Economics
Downloads 528 (74,869)
Citation 8

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

5.

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
University of California, Santa Cruz - Department of Economics, 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 526 (75,234)

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

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, Eiji Fujii and Eiji Fujii
University of California, Santa Cruz - Department of Economics, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and CESifo (Center for Economic Studies and Ifo Institute)Kwansei Gakuin University - School of Economics
Downloads 408 (100,831)

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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 2022
Yin-Wong Cheung, Menzie David Chinn, Eiji Fujii and Eiji Fujii
University of California, Santa Cruz - Department of Economics, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and CESifo (Center for Economic Studies and Ifo Institute)Kwansei Gakuin University - School of Economics
Downloads 78 (425,591)

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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
University of California, Santa Cruz - Department of Economics and University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics
Downloads 396 (104,391)

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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: 08 Apr 2022
Yin-Wong Cheung and Menzie David Chinn
University of California, Santa Cruz - Department of Economics and University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics
Downloads 56 (506,425)

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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
University of California, Santa Cruz - Department of Economics and BI Norwegian Business School
Downloads 172 (241,128)
Citation 3

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F31, F33, G14, G15, G21, G28

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
University of California, Santa Cruz - Department of Economics and BI Norwegian Business School
Downloads 137 (290,810)

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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

Number of pages: 34 Posted: 11 Jun 2014 Last Revised: 18 Jun 2014
Yin-Wong Cheung and Dagfinn Rime
University of California, Santa Cruz - Department of Economics and BI Norwegian Business School
Downloads 131 (300,916)

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

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

Number of pages: 36 Posted: 28 Feb 2003
Yin-Wong Cheung, Menzie David Chinn, Eiji Fujii and Eiji Fujii
University of California, Santa Cruz - Department of Economics, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and CESifo (Center for Economic Studies and Ifo Institute)Kwansei Gakuin University - School of Economics
Downloads 364 (114,953)

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

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

Number of pages: 23 Posted: 05 Jan 2001
Yin-Wong Cheung and Frank Westermann
University of California, Santa Cruz - Department of Economics and University of Osnabrueck - Department of Economics
Downloads 376 (110,817)

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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
University of California, Santa Cruz - Department of Economics and University of Osnabrueck - Department of Economics
Downloads 12 (798,072)

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11.

An Analysis of Hong Kong Export Performance

UC Santa Cruz Economics Working Paper No. 547
Number of pages: 33 Posted: 10 Sep 2003
Yin-Wong Cheung
University of California, Santa Cruz - Department of Economics
Downloads 386 (108,440)
Citation 4

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Hong Kong, Export, Performance

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
University of California, Santa Cruz - Department of Economics, Hong Kong Monetary Authority - Hong Kong Institute for Monetary Research (HKIMR) and Hong Kong Monetary Authority - Hong Kong Institute for Monetary Research (HKIMR)
Downloads 371 (112,465)
Citation 3

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policy dependence, interest rate interactions, exchange rate regime

Does the Chinese Interest Rate Follow the US Interest Rate?

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 19/2006, International Journal of Finance and Economics, 2008, 13(1): 53-67, 2008
Number of pages: 27 Posted: 08 Jun 2022 Last Revised: 09 Jun 2022
Yin-Wong Cheung, Dickson C. Tam and Matthew S. Yiu
University of California, Santa Cruz - Department of Economics, Hong Kong Monetary Authority - Hong Kong Institute for Monetary Research (HKIMR) and Hong Kong Monetary Authority - Hong Kong Institute for Monetary Research (HKIMR)
Downloads 7 (861,512)

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Policy Dependence, Interest Rate Interactions, Exchange Rate Regime

13.

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
University of California, Santa Cruz - Department of Economics and State University of New York, Buffalo State
Downloads 377 (111,308)

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

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
University of California, Santa Cruz - Department of Economics and Institute for Financial Management and Research
Downloads 270 (157,955)
Citation 4

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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
University of California, Santa Cruz - Department of Economics and Institute for Financial Management and Research
Downloads 102 (359,986)

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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

Journal of International Money and Finance 39 (2013) 231–245
Posted: 18 Aug 2021
Yin-Wong Cheung and Rajeswari Sengupta
University of California, Santa Cruz - Department of Economics and Indira Gandhi Institute of Development Research (IGIDR)

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Exchange rate fluctuations, Firm-level export shares, Asymmetric effects, Services exports

15.
Downloads 344 (123,217)
Citation 5

A High-Low Model of Daily Stock Price Ranges

CESifo Working Paper Series No. 2387
Number of pages: 45 Posted: 08 Sep 2008
City University of Hong Kong (CityU) - Department of Economics & Finance, University of California, Santa Cruz - Department of Economics and City University of Hong Kong (CityU) - Department of Management Sciences
Downloads 236 (180,469)

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

A High-Low Model of Daily Stock Price Ranges

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 03/2009
Number of pages: 42 Posted: 02 Feb 2009
City University of Hong Kong (CityU) - Department of Economics & Finance, University of California, Santa Cruz - Department of Economics and City University of Hong Kong (CityU) - Department of Management Sciences
Downloads 108 (346,242)
Citation 5

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

16.
Downloads 320 (133,057)
Citation 76

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, Eiji Fujii and Eiji Fujii
University of California, Santa Cruz - Department of Economics, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and CESifo (Center for Economic Studies and Ifo Institute)Kwansei Gakuin University - School of Economics
Downloads 262 (162,864)

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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: 11 Feb 2022
Yin-Wong Cheung, Menzie David Chinn, Eiji Fujii and Eiji Fujii
University of California, Santa Cruz - Department of Economics, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and CESifo (Center for Economic Studies and Ifo Institute)Kwansei Gakuin University - School of Economics
Downloads 52 (524,004)
Citation 5

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The Overvaluation of Renminbi Undervaluation

Journal of International Money and Finance, Vol. 26, No. 5, 2007, Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 11/2007
Number of pages: 37 Posted: 09 Jun 2022
Hong Kong Institute for Monetary and Financial Research, University of California, Santa Cruz - Department of Economics, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and CESifo (Center for Economic Studies and Ifo Institute)Kwansei Gakuin University - School of Economics
Downloads 6 (861,512)

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

17.

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
University of California, Santa Cruz - Department of Economics
Downloads 315 (135,255)

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

18.
Downloads 309 (138,105)
Citation 1

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
University of California, Santa Cruz - Department of Economics
Downloads 284 (150,048)
Citation 1

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

An Empirical Model of Daily Highs and Lows

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 07/2006, International Journal of Finance and Economics, 12, 2007, pp. 1-20, 2007
Number of pages: 33 Posted: 08 Jun 2022 Last Revised: 09 Jun 2022
Yin-Wong Cheung
University of California, Santa Cruz - Department of Economics
Downloads 25 (682,407)

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High, Low Open, Close, Trading Volume, VECM Model

19.
Downloads 295 (142,898)
Citation 1

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
University of California, Santa Cruz - Department of Economics and Lund University - Department of Economics
Downloads 295 (144,175)
Citation 2

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

20.

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
University of California, Santa Cruz - Department of Economics, California State University, Los Angeles - Department of Economics & Statistics and University of Copenhagen - Department of Economics
Downloads 293 (145,910)
Citation 3

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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
University of California, Santa Cruz - Department of Economics
Downloads 282 (151,116)

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Common Trends/Cycles, Transmission Mechanism, Structural Determinants

Hong Kong Output Dynamics: An Empirical Analysis

Pacific Economic Review, 7(3), 2002, pp. 465-487, Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 11/2000
Number of pages: 32 Posted: 13 Jun 2022 Last Revised: 20 Jul 2022
Yin-Wong Cheung
University of California, Santa Cruz - Department of Economics
Downloads 1 (928,815)

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Common Trends/Cycles, Transmission Mechanism, Structural Determinants

22.

A Note on the Money-Output Causality Tests

Number of pages: 23 Posted: 01 Mar 2001
Yin-Wong Cheung, Eiji Fujii and Eiji Fujii
University of California, Santa Cruz - Department of Economics and CESifo (Center for Economic Studies and Ifo Institute)Kwansei Gakuin University - School of Economics
Downloads 273 (156,839)
Citation 1

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money-output causality, ARCH, Monte Carlo experiment

23.

Exchange Rate Dynamics: Where is the Saddle Path?

Number of pages: 33 Posted: 12 Mar 2004
Yin-Wong Cheung, Javier Gardeazabal and Jesús Vázquez
University of California, Santa Cruz - Department of Economics, University of the Basque Country and University of the Basque Country - Department of Foundations of Economic Analysis I
Downloads 265 (161,624)

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overshooting, cointegration, Johansen test, simulation, convergence behavior

24.

Market Structure, Technology Spillovers, and Persistence in Productivity Differentials

Number of pages: 34 Posted: 14 Aug 2001
Yin-Wong Cheung and Antonio I. Garcia Pascual
University of California, Santa Cruz - Department of Economics and International Monetary Fund (IMF) - Western Hemisphere Department
Downloads 261 (164,101)
Citation 1

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Total Factor Productivity, Convergence, Market Structure, Technology Diffusion

25.
Downloads 244 (171,827)
Citation 5

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
University of California, Santa Cruz - Department of Economics and University of California, Santa Cruz - Department of Economics
Downloads 244 (174,694)

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

26.

Measuring Renminbi Misalignment: Where do We Stand?

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 24/2010
Number of pages: 31 Posted: 12 Oct 2010
Yin-Wong Cheung, Menzie David Chinn, Eiji Fujii and Eiji Fujii
University of California, Santa Cruz - Department of Economics, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and CESifo (Center for Economic Studies and Ifo Institute)Kwansei Gakuin University - School of Economics
Downloads 246 (173,858)
Citation 13

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

27.

Should Nordic Countries Join Emu?: An Empirical Analysis

UCSC Dept. of Economics Working Paper No. 389
Number of pages: 31 Posted: 06 Apr 1998
University of Copenhagen - Department of Economics, University of California, Santa Cruz - Department of Economics and University of California, Santa Cruz - Department of Economics
Downloads 242 (176,589)

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

Number of pages: 49 Posted: 20 Oct 2008
University of California, Santa Cruz - Department of Economics, 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 99 (367,229)
Citation 6

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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
University of California, Santa Cruz - Department of Economics, 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 82 (413,147)
Citation 12

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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: 03 Mar 2022
University of California, Santa Cruz - Department of Economics, 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 60 (489,948)
Citation 14

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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
University of California, Santa Cruz - Department of Economics and State University of New York, Buffalo State
Downloads 219 (194,053)

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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
University of California, Santa Cruz - Department of Economics and State University of New York, Buffalo State
Downloads 3 (897,702)
Citation 2

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

Review of International Economics, Volume 17, Issue 4, September 2009, Pages 824-843, Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 13/2007
Number of pages: 48 Posted: 09 Jun 2022
Yin-Wong Cheung and Xingwang Qian
University of California, Santa Cruz - Department of Economics and State University of New York, Buffalo State
Downloads 2 (912,281)

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Demand for International reserves, Excessive International reserve Accumulation, Speculative Attack, Keeping Up with the Joneses

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 Last Revised: 16 Jun 2022
Yin-Wong Cheung, Menzie David Chinn, Eiji Fujii and Eiji Fujii
University of California, Santa Cruz - Department of Economics, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and CESifo (Center for Economic Studies and Ifo Institute)Kwansei Gakuin University - School of Economics
Downloads 41 (578,754)

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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
University of California, Santa Cruz - Department of Economics, Hong Kong Monetary Authority - Research Department and ASEAN+3 Macroeconomic Research (AMRO)
Downloads 48 (542,782)

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

32.
Downloads 192 (219,146)

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
University of California, Santa Cruz - Department of Economics and State University of New York, Buffalo State
Downloads 190 (221,060)

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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
University of California, Santa Cruz - Department of Economics and State University of New York, Buffalo State
Downloads 2 (912,281)

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33.

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

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP 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 University of California, Santa Cruz - Department of Economics
Downloads 183 (228,443)
Citation 2

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

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
University of California, Santa Cruz - Department of Economics and California State University, Los Angeles - Department of Economics & Statistics
Downloads 178 (233,909)
Citation 1

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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
University of California, Santa Cruz - Department of Economics and University of California, Santa Cruz - Department of Economics
Downloads 174 (233,909)

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

36.

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
University of California, Santa Cruz - Department of Economics and Portland State University - Department of Economics
Downloads 171 (242,061)
Citation 4

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

37.

Sectoral Trends and Cycles in Germany

Number of pages: 28 Posted: 01 Aug 2001
Yin-Wong Cheung and Frank Westermann
University of California, Santa Cruz - Department of Economics and University of Osnabrueck - Department of Economics
Downloads 163 (251,974)

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

ECB Working Paper No. 2018
Number of pages: 58 Posted: 13 Feb 2017
University of California, Santa Cruz - Department of Economics, 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 115 (331,191)
Citation 9

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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: 30 Jul 2022
University of California, Santa Cruz - Department of Economics, 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
Downloads 45 (557,645)

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39.

China’s Current Account and Exchange Rate

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 14/2009
Number of pages: 45 Posted: 01 Jun 2009
Yin-Wong Cheung, Menzie David Chinn, Eiji Fujii and Eiji Fujii
University of California, Santa Cruz - Department of Economics, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and CESifo (Center for Economic Studies and Ifo Institute)Kwansei Gakuin University - School of Economics
Downloads 154 (264,075)
Citation 2

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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
University of California, Santa Cruz - Department of Economics and European Central Bank (ECB) - Directorate General International and European Relations
Downloads 74 (438,631)

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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 University of California, Santa Cruz - Department of Economics
Downloads 50 (537,961)
Citation 4

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

41.

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
University of California, Santa Cruz - Department of Economics and California State University, Los Angeles - Department of Economics & Statistics
Downloads 153 (265,476)

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

42.
Downloads 147 (274,183)
Citation 6

Renminbising China's Foreign Assets

CESifo Working Paper Series No. 3009
Number of pages: 27 Posted: 17 Apr 2010
University of California, Santa Cruz - Department of Economics, Bruegel and University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 143 (281,120)

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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
University of California, Santa Cruz - Department of Economics, Bruegel and University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 4 (884,811)

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43.

Testing for Output Convergence: A Re-Examination

Number of pages: 31 Posted: 19 Feb 2001
Antonio I. Garcia Pascual and Yin-Wong Cheung
International Monetary Fund (IMF) - Western Hemisphere Department and University of California, Santa Cruz - Department of Economics
Downloads 141 (283,262)

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

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, University of California, Santa Cruz - Department of Economics and California State University, Los Angeles - Department of Economics & Statistics
Downloads 140 (284,855)
Citation 1

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

45.

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, Eiji Fujii and Eiji Fujii
University of California, Santa Cruz - Department of Economics and CESifo (Center for Economic Studies and Ifo Institute)Kwansei Gakuin University - School of Economics
Downloads 130 (301,538)

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price dispersion, tradability, asymmetric inflation effects, market integration

46.

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

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 13/2009
Number of pages: 24 Posted: 08 Apr 2009
Yin-Wong Cheung, Matthew S. Yiu and Kenneth K. Chow
University of California, Santa Cruz - Department of Economics, Hong Kong Monetary Authority - Hong Kong Institute for Monetary Research (HKIMR) and Hong Kong Institute for Monetary Research
Downloads 129 (303,263)
Citation 2

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

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, Eiji Fujii and Eiji Fujii
University of California, Santa Cruz - Department of Economics and CESifo (Center for Economic Studies and Ifo Institute)Kwansei Gakuin University - School of Economics
Downloads 112 (337,535)

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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, Eiji Fujii and Eiji Fujii
University of California, Santa Cruz - Department of Economics and CESifo (Center for Economic Studies and Ifo Institute)Kwansei Gakuin University - School of Economics
Downloads 14 (778,211)

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48.

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

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 07/2008
Number of pages: 35 Posted: 16 Jul 2008
Yin-Wong Cheung and Hiro Ito
University of California, Santa Cruz - Department of Economics and Portland State University - Department of Economics
Downloads 123 (314,146)
Citation 3

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

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
University of California, Santa Cruz - Department of Economics and Inje University - Department of Economics
Downloads 121 (317,907)

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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 University of California, Santa Cruz - Department of Economics
Downloads 114 (331,489)

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51.
Downloads 110 (339,811)
Citation 4

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 - College of Economics and Institute of Finance, Huazhong University of Science and Technology - School of Management and University of California, Santa Cruz - Department of Economics
Downloads 103 (357,633)

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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 - College of Economics and Institute of Finance, Huazhong University of Science and Technology - School of Management and University of California, Santa Cruz - Department of Economics
Downloads 7 (850,543)
Citation 4

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

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
University of California, Santa Cruz - Department of Economics and University of California, Santa Cruz - Department of Economics
Downloads 75 (435,301)

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

Speculative Attacks: A Laboratory Study in Continuous Time

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 07/2009
Number of pages: 33 Posted: 12 Mar 2009
Yin-Wong Cheung and Daniel Friedman
University of California, Santa Cruz - Department of Economics and University of California, Santa Cruz - Department of Economics
Downloads 32 (632,058)
Citation 2

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

53.

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

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 18/2006
Number of pages: 36 Posted: 22 Aug 2007
Yin-Wong Cheung, Menzie David Chinn, Eiji Fujii and Eiji Fujii
University of California, Santa Cruz - Department of Economics, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and CESifo (Center for Economic Studies and Ifo Institute)Kwansei Gakuin University - School of Economics
Downloads 106 (348,421)
Citation 4

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

54.

The Empirics of China’s Outward Direct Investment

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 17/2009
Number of pages: 41 Posted: 02 Jun 2009
Yin-Wong Cheung and Xingwang Qian
University of California, Santa Cruz - Department of Economics and State University of New York, Buffalo State
Downloads 101 (359,724)
Citation 11

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

55.

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: 23 Jan 2022
Yin-Wong Cheung, Menzie David Chinn and Ian W. Marsh
University of California, Santa Cruz - Department of Economics, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and City University London - The Business School
Downloads 95 (373,939)
Citation 6

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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 University of California, Santa Cruz - Department of Economics
Downloads 50 (533,299)

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

57.

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, University of California, Santa Cruz - Department of Economics and California State University, Los Angeles - Department of Economics & Statistics
Downloads 89 (389,454)

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trade openness, inflation, market structure, static panel, dynamic panel

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
University of California, Santa Cruz - Department of Economics and California State University, Los Angeles - Department of Economics & Statistics
Downloads 84 (407,271)

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

A Reappraisal of the Border Effect on Relative Price Volatility

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 04/2006, International Economic Journal, Vol. 20, No. 4, December 2006, Pages: 495-514, 2006
Number of pages: 21 Posted: 08 Jun 2022 Last Revised: 09 Jun 2022
Yin-Wong Cheung and Kon S. Lai
University of California, Santa Cruz - Department of Economics and California State University, Los Angeles - Department of Economics & Statistics
Downloads 4 (884,811)

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

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
University of California, Santa Cruz - Department of Economics, 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 52 (524,004)

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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
University of California, Santa Cruz - Department of Economics, 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 35 (613,216)

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

60.

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
University of California, Santa Cruz - Department of Economics, University of Alberta - Department of Marketing, Business Economics & Law and Hitotsubashi UniversityTokyo Center for Economic Research (TCER)
Downloads 79 (417,901)
Citation 2

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61.

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
University of California, Santa Cruz - Department of Economics, Universität Osnabrück - Institute of Empirical Economic Research and University of Osnabrueck - Department of Economics
Downloads 78 (420,989)
Citation 2

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

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

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 13/2008
Number of pages: 69 Posted: 08 Aug 2008
Yin-Wong Cheung and Clement Yuk-Pang Wong
University of California, Santa Cruz - Department of Economics and City University of Hong Kong (CityU) - Department of Economics & Finance
Downloads 37 (601,196)
Citation 1

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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
University of California, Santa Cruz - Department of Economics and City University of Hong Kong (CityU) - Department of Economics & Finance
Downloads 27 (667,009)

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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
University of California, Santa Cruz - Department of Economics and City University of Hong Kong (CityU) - Department of Economics & Finance
Downloads 13 (788,078)

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International Reserve Ratios, Structural Characteristics, Cross-Economy Analysis

63.

Capital Flight: China’s Experience

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 06/2010
Number of pages: 35 Posted: 22 Jun 2010
Yin-Wong Cheung and Xingwang Qian
University of California, Santa Cruz - Department of Economics and State University of New York, Buffalo State
Downloads 76 (427,272)
Citation 28

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

64.

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

NBER Working Paper No. w6926
Number of pages: 27 Posted: 12 Jul 2000 Last Revised: 06 Jun 2021
Yin-Wong Cheung and Menzie David Chinn
University of California, Santa Cruz - Department of Economics and University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics
Downloads 74 (433,560)

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65.

Exchange Rate Misalignment Estimates – Sources of Differences

BOFIT Discussion Paper No. 25/2011
Number of pages: 56 Posted: 12 Oct 2011
Yin-Wong Cheung, Eiji Fujii and Eiji Fujii
University of California, Santa Cruz - Department of Economics and CESifo (Center for Economic Studies and Ifo Institute)Kwansei Gakuin University - School of Economics
Downloads 73 (436,743)
Citation 5

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

66.

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

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 21/2010
Number of pages: 29 Posted: 20 Sep 2010
Yin-Wong Cheung and Rajeswari Sengupta
University of California, Santa Cruz - Department of Economics and Indira Gandhi Institute of Development Research (IGIDR)
Downloads 71 (443,289)
Citation 2

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

67.

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
University of California, Santa Cruz - Department of Economics, Hong Kong Monetary Authority - Research Department and ASEAN+3 Macroeconomic Research (AMRO)
Downloads 70 (446,663)

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

68.

Renminbising China’s Foreign Assets

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 16/2010
Number of pages: 22 Posted: 30 Jun 2010
University of California, Santa Cruz - Department of Economics, Bruegel and University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 69 (450,057)
Citation 9

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

69.

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, Eiji Fujii and Eiji Fujii
University of California, Santa Cruz - Department of Economics and CESifo (Center for Economic Studies and Ifo Institute)Kwansei Gakuin University - School of Economics
Downloads 65 (463,972)

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

70.

Exchange Rate Misalignment Estimates - Sources of Differences

CESifo Working Paper Series No. 3555
Number of pages: 50 Posted: 01 Sep 2011
Yin-Wong Cheung, Eiji Fujii and Eiji Fujii
University of California, Santa Cruz - Department of Economics and CESifo (Center for Economic Studies and Ifo Institute)Kwansei Gakuin University - School of Economics
Downloads 61 (478,956)

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

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, University of California, Santa Cruz - Department of Economics and Portland State University - Department of Economics
Downloads 42 (573,346)
Citation 15

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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 Last Revised: 16 Mar 2022
Joshua Aizenman, Yin-Wong Cheung and Hiro Ito
University of Southern California - Department of Economics, University of California, Santa Cruz - Department of Economics and Portland State University - Department of Economics
Downloads 15 (768,579)
Citation 8

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72.

A Tale of Two Surplus Countries: China and Germany

CESifo Working Paper No. 7669
Number of pages: 33 Posted: 25 Jul 2019
Yin-Wong Cheung, Sven Steinkamp and Frank Westermann
University of California, Santa Cruz - Department of Economics, Universität Osnabrück - Institute of Empirical Economic Research and Universität Osnabrück - Institute of Empirical Economic Research
Downloads 56 (498,437)

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currency misalignment, current account surplus, global imbalances, global financial crisis

73.

Geographic Spread of Currency Trading: The Renminbi and Other EM Currencies

BIS Working Paper No. 806
Number of pages: 18 Posted: 09 Sep 2019
University of California, Santa Cruz - Department of Economics, University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center and Chief Asia Economist, Bloomberg
Downloads 50 (523,967)
Citation 3

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international currency, FX turnover, renminbi internationalisation, international financial centre

74.

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

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 21/2009
Number of pages: 31 Posted: 30 Jun 2009
Yin-Wong Cheung and Kon S. Lai
University of California, Santa Cruz - Department of Economics and California State University, Los Angeles - Department of Economics & Statistics
Downloads 48 (532,934)
Citation 1

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

75.

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: 18 Nov 2021
Yin-Wong Cheung and Shi He
University of California, Santa Cruz - Department of Economics and Zhongnan University of Economics and Law - School of Economics
Downloads 47 (537,396)
Citation 2

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Bayesian Model Averaging (BMA), clustering effects, median probability model specification, RMB undervaluation, study characteristics

76.

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
University of California, Santa Cruz - Department of Economics, 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 45 (546,912)
Citation 8

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China, imports, exports, real exchange rate

77.

The Evolution of Offshore Renminbi Trading: 2016 to 2019

CESifo Working Paper No. 8385
Number of pages: 34 Posted: 25 Jun 2020
Yin-Wong Cheung, Louisa Grimm and Frank Westermann
University of California, Santa Cruz - Department of Economics, Universität Osnabrück - Institute of Empirical Economic Research and Universität Osnabrück - Institute of Empirical Economic Research
Downloads 43 (556,680)
Citation 2

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global currency, FX turnover, geographical diffusion, renminbi internationalization, trade intensity

78.

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
University of California, Santa Cruz - Department of Economics and University of Missouri at Saint Louis - College of Business Administration
Downloads 41 (566,783)

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

79.
Downloads 40 (571,896)

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
University of California, Santa Cruz - Department of Economics, 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 20 (723,619)

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imports, exports, elasticity, deflator, exchange rate

Are Chinese Trade Flows Different?

NBER Working Paper No. w17875
Number of pages: 53 Posted: 02 Mar 2012 Last Revised: 07 May 2022
Yin-Wong Cheung, Menzie David Chinn and Xingwang Qian
University of California, Santa Cruz - Department of Economics, 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 20 (723,619)

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80.

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: 31 Mar 2022
Yin-Wong Cheung, Menzie David Chinn, Eiji Fujii and Eiji Fujii
University of California, Santa Cruz - Department of Economics, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and CESifo (Center for Economic Studies and Ifo Institute)Kwansei Gakuin University - School of Economics
Downloads 40 (571,896)

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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 2022
Yin-Wong Cheung and Menzie David Chinn
University of California, Santa Cruz - Department of Economics and University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics
Downloads 37 (601,196)

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82.

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: 20 Mar 2022
Yin-Wong Cheung, Menzie David Chinn, Eiji Fujii and Eiji Fujii
University of California, Santa Cruz - Department of Economics, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and CESifo (Center for Economic Studies and Ifo Institute)Kwansei Gakuin University - School of Economics
Downloads 34 (604,683)
Citation 1

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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
University of California, Santa Cruz - Department of Economics and City University of Hong Kong (CityU) - Department of Economics & Finance
Downloads 32 (632,058)

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84.

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
University of California, Santa Cruz - Department of Economics, 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 29 (635,375)

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

85.

Investment and Growth in Rich and Poor Countries

NBER Working Paper No. w17788
Number of pages: 29 Posted: 28 Jan 2012 Last Revised: 07 Feb 2022
Yin-Wong Cheung, Michael P. Dooley and Vladyslav Sushko
University of California, Santa Cruz - Department of Economics, University of California at Santa Cruz and Bank for International Settlements (BIS)
Downloads 26 (655,770)

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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: 30 Mar 2022
Yin-Wong Cheung and Menzie David Chinn
University of California, Santa Cruz - Department of Economics and University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics
Downloads 25 (682,407)

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87.

The Interest Rate Effect on Private Saving: Alternative Perspectives

NBER Working Paper No. w22872
Number of pages: 52 Posted: 28 Nov 2016 Last Revised: 01 Jul 2022
Joshua Aizenman, Yin-Wong Cheung and Hiro Ito
University of Southern California - Department of Economics, University of California, Santa Cruz - Department of Economics and Portland State University - Department of Economics
Downloads 19 (708,863)
Citation 1

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88.

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 Last Revised: 13 May 2022
Joshua Aizenman, Yin-Wong Cheung and Xingwang Qian
University of Southern California - Department of Economics, University of California, Santa Cruz - Department of Economics and State University of New York, Buffalo State
Downloads 17 (725,281)
Citation 1

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89.

International Reserve Management, Global Financial Shocks, and Firm Investment in Emerging Market Economies

Number of pages: 68 Posted: 23 Oct 2021 Last Revised: 05 Jan 2022
Joshua Aizenman, Yin-Wong Cheung and Xingwang Qian
University of Southern California - Department of Economics, University of California, Santa Cruz - Department of Economics and State University of New York, Buffalo State
Downloads 15 (742,347)

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International Reserve Management, Global Financial Shocks, Firm Investment, Macro-management Policy Mix

90.

A Jackknife Model Averaging Analysis of RMB Misalignment Estimates

CESifo Working Paper No. 7840
Number of pages: 48 Posted: 14 Oct 2019
Yin-Wong Cheung
University of California, Santa Cruz - Department of Economics
Downloads 15 (742,347)
Citation 1

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frequentist model average, meta-analysis, Mallows criterion, Bayesian model averaging, publication biases

91.

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 University of California, Santa Cruz - Department of Economics
Downloads 9 (808,426)
Citation 1

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cross-border trade settlement, off-shore RMB market, panda bonds, RMB internationalization

92.

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 Last Revised: 03 Aug 2022
Yin-Wong Cheung, Menzie David Chinn and Xin Nong
University of California, Santa Cruz - Department of Economics, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and University of Texas at Austin
Downloads 7 (818,543)
Citation 2

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93.

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
University of California, Santa Cruz - Department of Economics, De Nederlandsche Bank, State University of New York, Buffalo State and University of Groningen - Faculty of Economics and Business
Downloads 4 (850,182)
Citation 1

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94.

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

Japan and the World Economy, Vol. 20, No. 3, 2008, Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 09/2007
Number of pages: 29 Posted: 09 Jun 2022
Hong Kong Institute for Monetary and Financial Research, University of California, Santa Cruz - Department of Economics and California State University, Los Angeles - Department of Economics & Statistics
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Real exchange rate; Fractional time series; Half life; Adjustment speed

95.

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
University of California, Santa Cruz - Department of Economics, State University of New York, Buffalo State, University of Groningen and University of Groningen - Faculty of Economics and Business
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96.

International Reserve Management, Global Financial Shocks, and Firms’ Investment in Emerging Market Economies

NBER Working Paper No. w29303
Number of pages: 70 Posted: 27 Sep 2021 Last Revised: 27 Jul 2022
Joshua Aizenman, Yin-Wong Cheung and Xingwang Qian
University of Southern California - Department of Economics, University of California, Santa Cruz - Department of Economics and State University of New York, Buffalo State
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97.

Geographic Spread of Currency Trading: The Renminbi and Other Emerging Market Currencies

China & World Economy, Vol. 27, Issue 5, pp. 25-36, 2019
Number of pages: 12 Posted: 07 May 2020
University of California, Santa Cruz - Department of Economics, University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center and Chief Asia Economist, Bloomberg
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Citation 4

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foreign exchange turnover, international currency, international financial center, renminbi internationalization

98.

Which Measure of Aggregate Output Should We Use

Posted: 24 Feb 2000
Yin-Wong Cheung, Eiji Fujii and Eiji Fujii
University of California, Santa Cruz - Department of Economics and CESifo (Center for Economic Studies and Ifo Institute)Kwansei Gakuin University - School of Economics

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99.

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
University of California, Santa Cruz - Department of Economics

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