This paper evaluates structural change and adjustment in Hong Kong with Bayesian estimation of a small open economy with a fixed exchange rate show little or no change in the structural parameters or volatility estimates of the structural shocks before and after the Asian crisis and the...

Computational Macroeconomics for the Open Economy G. C. Lim and Paul D. McNelis The MIT Press Cambridge, Massachusetts London, England Contents Preface xi Acknowledgments xv 1 Introduction 1 1.1 The Open Economy Setting 1 1.2 Solution Methods 3 1.2.1...