Chang, Kuang Liang; Chen, Nan Kuang; Leung, Charles Ka Yui - Volkswirtschaftliche Fakultät, … - 2011
We examine how the fluctuations in financial and housing markets in U.S. affect the asset returns and GDP in Hong Kong. In contrast to the results from linear specifications, which concludes that the U.S. and Hong Kong are virtually delinked in terms of the asset markets, our regime-switching...