Macroeconomic instability in Hong Kong : internal and external factors

Yue MA; Raymond C.W. NG

Macroeconomic instability in Hong Kong : internal and external factors

Yue MA
, Raymond C.W. NG

Department of Economics

Research output: Book Chapters | Papers in Conference Proceedings › Book Chapter › Research › peer-review

Abstract

This chapter examines the extent to which the dollar peg may have helped to exacerbate macroeconomic volatilities in Hong Kong, by estimating an IS-LM open economy model for Hong Kong via a structural vector auto-regressive (VAR) process (Gali, 1992; Rogers, 1999). The econometric techniques of impulse response and variance decomposition analysis are applied to the VAR model to separate the major causes of inflation and instability.

Original language	English
Title of host publication	China, Hong Kong and the world economy : Studies on globalization
Editors	Lok Sang HO, Robert ASH
Place of Publication	New York
Publisher	Palgrave Macmillan
Chapter	11
Pages	200-218
Number of pages	19
ISBN (Print)	9781403987426
Publication status	Published - 2006

Cite this

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title = "Macroeconomic instability in Hong Kong : internal and external factors",

abstract = "This chapter examines the extent to which the dollar peg may have helped to exacerbate macroeconomic volatilities in Hong Kong, by estimating an IS-LM open economy model for Hong Kong via a structural vector auto-regressive (VAR) process (Gali, 1992; Rogers, 1999). The econometric techniques of impulse response and variance decomposition analysis are applied to the VAR model to separate the major causes of inflation and instability.",

author = "Yue MA and NG, \{Raymond C.W.\}",

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AU - NG, Raymond C.W.

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AB - This chapter examines the extent to which the dollar peg may have helped to exacerbate macroeconomic volatilities in Hong Kong, by estimating an IS-LM open economy model for Hong Kong via a structural vector auto-regressive (VAR) process (Gali, 1992; Rogers, 1999). The econometric techniques of impulse response and variance decomposition analysis are applied to the VAR model to separate the major causes of inflation and instability.

M3 - Book Chapter

SN - 9781403987426

SP - 200

EP - 218

BT - China, Hong Kong and the world economy : Studies on globalization

A2 - HO, Lok Sang

A2 - ASH, Robert

PB - Palgrave Macmillan

CY - New York

ER -