首页 | 本学科首页   官方微博 | 高级检索  
     


Volatility of fundamental variables under different exchange rate system--a simple test for Hong Kong
Authors:Jimmy Ran
Affiliation:1. Forecasting Systems Unit, School of Electrical and Computer Engineering, National Technical University of Athens, 9 Iroon Polytechniou Street, 15773 , Zografou, Athens, Greece;2. Forecasting Systems Unit, School of Electrical and Computer Engineering, National Technical University of Athens, 9 Iroon Polytechniou Street, 15773 , Zografou, Athens, Greece;3. Ministry of Economy and Finance , 5-7 Nikis Street, 10180 Athens, Greece
Abstract:This paper presents a comparison in the changes of Hong Kong macroeconomic fundamental variables before and after its currency was ‘pegged’ to the US dollar in October 1983. Using a simple method from Flood and Rose (1995) and Baxter and Stockman (1989), this paper compares the volatilities of all aggregate variables used by those investigators in so far as these data are available for Hong Kong. The results show, contrary to the dominating empirical literature for the G-7 countries, that the volatilities of more than half of the nominal and real variables under the float are significantly higher than those under the link.
Keywords:
设为首页 | 免责声明 | 关于勤云 | 加入收藏

Copyright©北京勤云科技发展有限公司  京ICP备09084417号