2012
DOI: 10.2139/ssrn.2087388
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Capital Inflows and Asset Prices: Evidence from Emerging Asia

Abstract: Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in… Show more

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Cited by 28 publications
(47 citation statements)
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“…The stock market over‐ and undervaluations are measured by the ‘bubble’ factors italicβ0.6emhfalse(=e00.6emt0.6emhfalse/k0hfalse) and italicβ0.6emffalse(=e00.6emt0.6emffalse/k0ffalse), which are plotted in Figure c. Of course, similar asset price movements will be observed in the real estate market, too; see Aizenman and Jinjarak () and Tillmann ().…”
Section: Simulation Of Boom‐and‐bust Cyclesmentioning
confidence: 80%
“…The stock market over‐ and undervaluations are measured by the ‘bubble’ factors italicβ0.6emhfalse(=e00.6emt0.6emhfalse/k0hfalse) and italicβ0.6emffalse(=e00.6emt0.6emffalse/k0ffalse), which are plotted in Figure c. Of course, similar asset price movements will be observed in the real estate market, too; see Aizenman and Jinjarak () and Tillmann ().…”
Section: Simulation Of Boom‐and‐bust Cyclesmentioning
confidence: 80%
“…Mote Carlo simulations by Rebucci (2010) show in fact that the efficiency of the mean-group estimator is very limited in short samples. 6 Therefore, we follow Born et al (2012), Hristov et al (2012) and Tillmann (2012) and adopt the fixed effect estimator.…”
mentioning
confidence: 99%
“…On the other hand, they can exacerbate certain vulnerabilities, such as amplified business cycles, financial and macroeconomic instability, and banking, sovereign, or currency crises. Indeed, previous literature shows that large swings in international capital flows can have considerable effects on various macroeconomic and financial indicators, such as inflation, asset prices, credit growth, and output (CALVO, 1998;REINHART and REINHART, 2008;CARDARELLI, ELEKDAG, and KOSE, 2010;FURCERI, GUICHARD, and RUSTICELLI, 2012;TILLMANN, 2013). This finding holds for both advanced and emerging market economies.…”
Section: Introductionmentioning
confidence: 90%