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China --- demography --- statistics --- the People's Republic of China

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Currency boards operate differently from standard pegs. The former exhibit greater currency stability and lower transaction costs, inflation, and nominal interest rates, but are limited in their use of devaluation. We extend Drazen and Masson’s (1994) signaling model to consider the choice between currency board arrangements and standard pegs. The model shows that currency boards’ effectiveness hinges on their credibility properties and that they can improve welfare even with high unemployment persistence. By reducing expected inflation and the negative employment effect arising from expected but unrealized inflation, currency boards can produce less unemployment than peg regimes that abstain from devaluation.

Foreign Exchange --- Inflation --- Labor --- Money and Monetary Policy --- International Monetary Arrangements and Institutions --- Price Level --- Deflation --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- Unemployment: Models, Duration, Incidence, and Job Search --- Currency --- Foreign exchange --- Macroeconomics --- Monetary economics --- Labour --- income economics --- Currency boards --- Exchange rate arrangements --- Currencies --- Unemployment --- Prices --- Money --- Hong Kong Special Administrative Region, People's Republic of China --- Income economics

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In this study, quantitative, industry-level measures of the intensity of competition are measured. Various methodologies and data used for measuring competition are also discussed. The level of intensity is also compared. The following statistical data are also presented in detail: gross fixed capital formation, selected price indicators, labor force, employment and unemployment, wages, labor productivity, and unit labor costs, property market developments, monetary indicators, equity price developments, revenue, exchange fund balance sheet, loans and advances by type, GDP by sector at current prices, and so on.

Exports and Imports --- Finance: General --- Labor --- Macroeconomics --- Industries: Manufacturing --- Demand and Supply of Labor: General --- Trade: General --- Employment --- Unemployment --- Wages --- Intergenerational Income Distribution --- Aggregate Human Capital --- Aggregate Labor Productivity --- Labor Economics: General --- Wages, Compensation, and Labor Costs: General --- Labour --- income economics --- International economics --- Finance --- Manufacturing industries --- Labor markets --- Exports --- International trade --- Labor market --- Economic theory --- Labor economics --- Hong Kong Special Administrative Region, People's Republic of China --- Income economics

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This paper examines the determinants of residential property prices in Hong Kong SAR during 1980–98. It uses time-series analysis techniques to characterize price developments, establish empirical regularities, and provide measures of the deviations of actual price changes from “trend.” The analysis suggests that at the peak of the boom, in mid-1997, the level of property prices may have been 40–45 percent above levels suggested by developments in “fundamentals.” The analysis highlights the role of demand-side factors, and the data are not inconsistent with the notion that the property market may be subject to speculative bubbles.

Financial Risk Management --- Infrastructure --- Macroeconomics --- Real Estate --- Price Level --- Inflation --- Deflation --- Time-Series Models --- Dynamic Quantile Regressions --- Dynamic Treatment Effect Models --- Diffusion Processes --- State Space Models --- Nonagricultural and Nonresidential Real Estate Markets --- Financial Crises --- Economic Development: Urban, Rural, Regional, and Transportation Analysis --- Housing --- Housing Supply and Markets --- Property & real estate --- Economic & financial crises & disasters --- Land prices --- Asset bubbles --- Housing prices --- Asset prices --- Prices --- Financial crises --- National accounts --- Saving and investment --- Hong Kong Special Administrative Region, People's Republic of China

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This study estimates quantitative, industry-level measures of the intensity of competition and also discusses various methodologies and data used for measuring competition. The following data are also included in the study: gross fixed capital formation, selected price indicators, labor force, employment, and unemployment, property market development, public expenditure by function, monetary indicators, balance sheet of all authorized institutions, equity price developments, exchange fund balance sheet, wages, labor productivity, public expenditure by function, revenue, government expenditure under the general revenue account, and so on.

Exports and Imports --- Finance: General --- Labor --- Macroeconomics --- Industries: Manufacturing --- Demand and Supply of Labor: General --- Trade: General --- Employment --- Unemployment --- Wages --- Intergenerational Income Distribution --- Aggregate Human Capital --- Aggregate Labor Productivity --- Labor Economics: General --- Wages, Compensation, and Labor Costs: General --- Labour --- income economics --- International economics --- Finance --- Manufacturing industries --- Labor markets --- Exports --- International trade --- Labor market --- Economic theory --- Labor economics --- Hong Kong Special Administrative Region, People's Republic of China --- Income economics