Browsing by Author "Koyin Chang"

Now showing 1 - 4 of 4
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    “Capital mobility in East Asian Countries is not so high”: Examining the impact of sterilization on capital flows.
    (2013-03-01) 印永翔; Ying Y.; C-M Kuan; C. Tung; Koyin Chang
    This paper examines how international capital mobility can be affected by sterilization activities for seven East Asian economies. We develop a model that shows how sterilization measures by a central bank can lead to a reduction in a country's capital mobility. Using data from 1980 to 2006, we then derive sterilization intensities and capital mobility estimates for our countries, and discover that conventional measures overstate the degree of capital mobility due to their failure to adjust for sterilization actions. Our findings are important for policy makers since using our modified estimates will help to better understand the magnitude of capital mobility when central banks exercise sterilization to dampen the effect of capital inflows.
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    Dynamic Financial Decisions with Varying Degrees of Information Asymmetry and Profitability.
    (2016-03-01) 印永翔; Chen Hsun Lee1; Yung-Hsiang Ying; Koyin Chang
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    The Effectiveness of Drinking and Driving Policies for Different Alcohol-Related Fatalities: A Quantile Regression Analysis.
    (2013-07-13) 印永翔; Ying YH; CC Wu; Koyin Chang
    To understand the impact of drinking and driving laws on drinking and driving fatality rates, this study explored the different effects these laws have on areas with varying severity rates for drinking and driving. Unlike previous studies, this study employed quantile regression analysis. Empirical results showed that policies based on local conditions must be used to effectively reduce drinking and driving fatality rates; that is, different measures should be adopted to target the specific conditions in various regions. For areas with low fatality rates (low quantiles), people’s habits and attitudes toward alcohol should be emphasized instead of transportation safety laws because “preemptive regulations” are more effective. For areas with high fatality rates (or high quantiles), “ex-post regulations” are more effective, and impact these areas approximately 0.01% to 0.05% more than they do areas with low fatality rates.
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    Spillover Effects of Chinese Stock Markets.
    印永翔; Ginny J. Yang; Koyin Chang; YH Ying; Chen-hsun Lee