Now showing items 1-3 of 3
Business cycles in a small open economy: The case of Hong Kong
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2011-12)
This paper analyzes the business cycle properties of the Hong Kong economy during the 1982-2004 period, which includes the financial crisis experienced in 1997-98. We show that output, output growth rate and real interest ...
Prices and the Real Exchange Rate in Hong Kong: 1985-2006
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2010-11)
This paper seeks to quantify to the extent to which price dynamics in Hong Kong are due to the Balassa-Samuelson hypothesis. From 1985 to 1998, the CPI in Hong Kong increased spectacularly, yet there was dramatic deflation ...
Income Taxation and Growth in an OLG Economy: Does Aggregate Uncertainty Play any Role?
We analyze the effects of capital income taxation on long-run growth in a stochastic, two-period overlapping generations economy. Endogenous growth is driven by a positive externality of physical capital in the production ...