TY - JOUR
T1 - The natural rate of interest of Hong Kong
AU - He, Yunlu
AU - Wang, Bin
PY - 2024/2
Y1 - 2024/2
N2 - We measure the natural rate of interest of Hong Kong in a flexible VAR model. We find that the natural rate of interest of Hong Kong fell below zero after the SARS shock in 2003 and reached the lowest after the great recession in 2007–2009. Variance decomposition shows that mainland China, instead of the USA, has a larger impact on the natural rate of interest of Hong Kong. ©2023 John Wiley & Sons Australia, Ltd.
AB - We measure the natural rate of interest of Hong Kong in a flexible VAR model. We find that the natural rate of interest of Hong Kong fell below zero after the SARS shock in 2003 and reached the lowest after the great recession in 2007–2009. Variance decomposition shows that mainland China, instead of the USA, has a larger impact on the natural rate of interest of Hong Kong. ©2023 John Wiley & Sons Australia, Ltd.
UR - http://www.scopus.com/inward/record.url?scp=85156190947&partnerID=8YFLogxK
UR - https://www.scopus.com/record/pubmetrics.uri?eid=2-s2.0-85156190947&origin=recordpage
U2 - 10.1111/1468-0106.12420
DO - 10.1111/1468-0106.12420
M3 - RGC 21 - Publication in refereed journal
SN - 1361-374X
VL - 29
SP - 44
EP - 54
JO - Pacific Economic Review
JF - Pacific Economic Review
IS - 1
ER -
