Abstract 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.
{"title":"The natural rate of interest of Hong Kong","authors":"Yunlu He, Bin Wang","doi":"10.1111/1468-0106.12420","DOIUrl":"https://doi.org/10.1111/1468-0106.12420","url":null,"abstract":"Abstract 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.","PeriodicalId":46516,"journal":{"name":"Pacific Economic Review","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-04-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136380885","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Zero population growth rate and eldercare hours: Are both optimal for some\u0000 European Union\u0000 countries?\u0000 #","authors":"Tatsuyoshi Miyakoshi","doi":"10.1111/1468-0106.12418","DOIUrl":"https://doi.org/10.1111/1468-0106.12418","url":null,"abstract":"","PeriodicalId":46516,"journal":{"name":"Pacific Economic Review","volume":" ","pages":""},"PeriodicalIF":1.5,"publicationDate":"2023-03-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48448085","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Where does the risk lie? Systemic risk and tail risk networks in the Chinese financial market","authors":"Yang Deng, Chenyin Gao","doi":"10.1111/1468-0106.12417","DOIUrl":"https://doi.org/10.1111/1468-0106.12417","url":null,"abstract":"","PeriodicalId":46516,"journal":{"name":"Pacific Economic Review","volume":" ","pages":""},"PeriodicalIF":1.5,"publicationDate":"2023-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46268654","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Gender quota in the civil service and female participation: Evidence from Nepal","authors":"Hari Prasad Upadhaya, Illoong Kwon","doi":"10.1111/1468-0106.12416","DOIUrl":"https://doi.org/10.1111/1468-0106.12416","url":null,"abstract":"","PeriodicalId":46516,"journal":{"name":"Pacific Economic Review","volume":" ","pages":""},"PeriodicalIF":1.5,"publicationDate":"2023-02-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45172636","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Leadership and firm value among couples in charge: Evidence from Chinese listed family firms","authors":"Na Wu, Xinping Xia, Yuguo Li","doi":"10.1111/1468-0106.12414","DOIUrl":"https://doi.org/10.1111/1468-0106.12414","url":null,"abstract":"","PeriodicalId":46516,"journal":{"name":"Pacific Economic Review","volume":" ","pages":""},"PeriodicalIF":1.5,"publicationDate":"2023-02-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46393421","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Macroeconomic effects of family business inheritance tax reduction: Evidence from\u0000 South Korea","authors":"J. La","doi":"10.1111/1468-0106.12415","DOIUrl":"https://doi.org/10.1111/1468-0106.12415","url":null,"abstract":"","PeriodicalId":46516,"journal":{"name":"Pacific Economic Review","volume":" ","pages":""},"PeriodicalIF":1.5,"publicationDate":"2023-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45747923","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Promotion or liberalization: The effect of targeted investment policies on foreign direct investment inflows","authors":"M. Inada","doi":"10.1111/1468-0106.12412","DOIUrl":"https://doi.org/10.1111/1468-0106.12412","url":null,"abstract":"","PeriodicalId":46516,"journal":{"name":"Pacific Economic Review","volume":" ","pages":""},"PeriodicalIF":1.5,"publicationDate":"2022-10-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46608673","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This article takes Taiwan's Triple Stimulus Vouchers (TSVs) launched in the second half of 2020 as an example to evaluate the economic benefits of revitalization vouchers during the COVID-19 period. We apply scenario settings and input-output tables to evaluate the policy benefits. The main conclusions are as follows: (1) The issuance of TSVs will induce consumers to use revitalized triple vouchers. As the epidemic is under control domestically and border control continues that ruled out non-citizen consumptions, issuing the TSVs during summer vacations generates positive economic benefits. (2) Using promotional activities TSVs are indeed helpful to boost consumer confidence. (3) According to estimates, the benefit of TSVs to real GDP is between NT$45.062 and 83.727 billion;the economic growth rate increases by 0.1173-0.2156%. (4) TSVs have a significant impact on the service industry. The department stores benefited a lot from the TSV policy, and supermarkets and hypermarkets saw rising revenues. Merchants, small shops, and even hawkers in the streets or traditional markets also felt the strength of economic recovery from the retail consumption growth of TSVs, which also brings economic benefits expected by the policy.
{"title":"Evaluating economic benefits of the revitalization\u0000 vouchers: The\u0000 case of Taiwan's Triple Stimulus Vouchers","authors":"Chia‐Cheng Hua, Hao‐Yen Yang, Su-Ling Peng","doi":"10.1111/1468-0106.12408","DOIUrl":"https://doi.org/10.1111/1468-0106.12408","url":null,"abstract":"This article takes Taiwan's Triple Stimulus Vouchers (TSVs) launched in the second half of 2020 as an example to evaluate the economic benefits of revitalization vouchers during the COVID-19 period. We apply scenario settings and input-output tables to evaluate the policy benefits. The main conclusions are as follows: (1) The issuance of TSVs will induce consumers to use revitalized triple vouchers. As the epidemic is under control domestically and border control continues that ruled out non-citizen consumptions, issuing the TSVs during summer vacations generates positive economic benefits. (2) Using promotional activities TSVs are indeed helpful to boost consumer confidence. (3) According to estimates, the benefit of TSVs to real GDP is between NT$45.062 and 83.727 billion;the economic growth rate increases by 0.1173-0.2156%. (4) TSVs have a significant impact on the service industry. The department stores benefited a lot from the TSV policy, and supermarkets and hypermarkets saw rising revenues. Merchants, small shops, and even hawkers in the streets or traditional markets also felt the strength of economic recovery from the retail consumption growth of TSVs, which also brings economic benefits expected by the policy.","PeriodicalId":46516,"journal":{"name":"Pacific Economic Review","volume":" ","pages":""},"PeriodicalIF":1.5,"publicationDate":"2022-10-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48949527","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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