by So Wai-man, Raymond. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1991. / Bibliography: leaves 294-302. / ABSTRACT --- p.ii / TABLE OF CONTENTS --- p.iv / LIST OF TABLES --- p.vi / LIST OF FIGURES --- p.xii / LIST OF APPENDICES --- p.xvi / ACKNOWLEDGEMENT --- p.xvii / CHAPTER / Chapter I. --- INTRODUCTION --- p.1 / Importance of Real Exchange Rate Movement --- p.1 / Concepts and Hypotheses --- p.2 / The Purchasing Power Parity (PPP) Doctrine --- p.2 / Real Exchange Rate --- p.6 / Long Run Economic Series --- p.9 / Conclusion --- p.10 / Chapter II. --- LITERATURE REVIEW --- p.11 / Introduction --- p.11 / Literatures In Purchasing Power Parity --- p.12 / Literatures In Real Exchange Rates --- p.18 / Conclusions --- p.23 / Chapter III. --- METHODOLOGY --- p.25 / Introduction --- p.25 / Construction of Real Exchange Rate --- p.25 / Economic Time Series & Stationarity --- p.29 / Box-Jenkins Models --- p.32 / Autoregressive (AR) Models --- p.33 / Moving Average (MA) Models --- p.34 / Autoregressive Moving Average (ARMA) Models --- p.35 / Autoregressive Integrated Moving Average (ARIMA) Models --- p.35 / Random Walk Hypothesis --- p.36 / Unit Root Tests --- p.37 / The Dickey-Fuller Test --- p.38 / The Augmented Dickey-Fuller Test --- p.39 / The Sims Test --- p.40 / Hypothesis --- p.42 / The Dickey-Fuller Test --- p.42 / The Augmented Dickey-Fuller Test --- p.42 / The Sims Test --- p.43 / Conclusions --- p.44 / Chapter IV. --- EMPIRICAL RESULTS --- p.45 / Description of Data and Movement of Real Exchange Rates --- p.45 / Tentative AR(1) Models for Real Exchange Rates --- p.48 / Original Series: Whole Period --- p.49 / Original Series: Fixed Rate Period --- p.49 / Original Series: Floating Rate Period --- p.50 / Logarithmic Series: Whole Period --- p.50 / Logarithmic Series: Fixed Rate Period --- p.51 / Logarithmic Series: Floating Rate Period --- p.51 / The Dickey-Fuller Test Statistics --- p.52 / The Augmented Dickey-Fuller Test Statistics --- p.56 / The Sims Test Statistics --- p.59 / Summary of Empirical Results --- p.62 / Chapter V. --- SUMMARY AND CONCLUSIONS --- p.64 / Highlights of the Findings of this Study --- p.64 / Policy Implications --- p.65 / Conclusions --- p.66 / Limitations --- p.67 / APPENDICES --- p.68 / BIBLIOGRAPHY --- p.294

Lam Man Kin, Wong Yim Pan. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1992. / Includes bibliographical references. / ACKNOWLEDGEMENTS --- p.ii / ABSTRACT --- p.iii / TABLE OF CONTENTS --- p.iv / LIST OF TABLES --- p.vi / LIST OF FIGURES --- p.vii / Chapter / Chapter I. --- INTRODUCTION --- p.1 / Chapter II. --- A BRIEF REVIEW OF THE MODELS FOR FOREIGN EXCHANGE DETERMINATION --- p.6 / Purchasing Power Parity --- p.6 / Flexible Price Monetary Model --- p.9 / Sticky Price Monetary Model -Exchange Rate Dynamics --- p.11 / Portfolio Balance Approach --- p.14 / Insights --- p.16 / Chapter III. --- THE LINKED EXCHANGE RATE SYSTEM --- p.18 / A Brief Historical Account --- p.18 / The Linked Exchange Rate System and Interest Rate --- p.19 / The Linked Exchange Rate System and Inflation Rate --- p.21 / The Pattern of Interest Rate Since Oct. 1983 --- p.22 / "The Pattern of Inflation Rate Since Oct., 1983" --- p.23 / "The Change of Real Exchange Rate Since Oct.,1983" --- p.23 / Chapter VI. --- METHODOLOGIES FOR THE EMPIRICAL STUDIES --- p.31 / The Data --- p.31 / Statistical Techniques --- p.32 / Models to be studied --- p.32 / Absolute PPP --- p.32 / Relative PPP --- p.33 / Augmented PPP Model --- p.34 / Hong Kong Inflation and US Inflation --- p.35 / Hong Kong Interest Rate and US Interest Rate --- p.36 / Interest Rate and Inflation Rate of Hong Kong --- p.36 / Chapter V. --- EMPIRICAL RESULTS AND DISCUSSIONS --- p.38 / PPP Model --- p.38 / Absolute PPP --- p.38 / Relationship between Exchange Rate and Price Levels --- p.43 / Relative PPP --- p.43 / Inflations of Hong Kong and the US --- p.45 / Percentage change of exchange rate and inflation --- p.46 / Augmented PPP Model: Incorporate Interest Rates in PPP Model --- p.47 / Absolute PPP --- p.47 / Interest Rates and Short Term Fluctuation of Exchange Rate --- p.48 / Relative PPP --- p.49 / Interest Rates and the Percentage Change of Exchange Rate --- p.51 / Hong Kong Inflation and US Inflation --- p.51 / The Divergence of Two Inflation Rates --- p.52 / Hong Kong Interest Rate and US Interest Rate --- p.53 / Hong Kong Inflation and Hong Kong Interest Rates --- p.55 / Chapter VI. --- CONCLUSION --- p.57 / Limitations --- p.59 / APPENDIX / I --- p.61 / II --- p.67 / BIBLIOGRAPHY --- p.78

by Hou Ka Chun. / Thesis (M.Phil.)--Chinese University of Hong Kong, 1999. / Includes bibliographical references (leaves 89-95). / Abstracts in English and Chinese. / LIST OF TABLES --- p.vii / LIST OF ILLUSTRATIONS --- p.viii / CHAPTER / Chapter I --- INTRODUCTION --- p.1 / Chapter II --- REVIEW OF THE LITERATURE --- p.6 / Monetary Models / Nominal Exchange Rate Prediction / Nonparametric Estimation Techniques / Chapter III --- METHODOLOGY --- p.17 / Unit-Root Tests / Zivot-Andrews Test / Error Correction Model / Autoregressive Distributed Lag (ARDL) Approach to Cointegration / Local Polynomial Fitting / Chapter IV --- DATA --- p.36 / Chapter V --- PARAMETRIC MODELING --- p.39 / Estimation Procedure / Empirical Findings / Japan / Germany / Britain / Chapter VI --- NONPARAMETRIC MODELING --- p.50 / Estimation Procedure / Empirical Findings / Chapter VII --- CONCLUSION --- p.54 / TABLES --- p.56 / ILLUSTRATIONS --- p.77 / BIBLIOGRAPHY --- p.89

Economic intuition suggests that real currency depreciation should lead to long run improvement in a country's trade balance. The short run implications of real depreciation are relatively unknown. The current literature suggests that the short run relationship between trade and real exchange rates is country-specific. This literature has not explored if product and trading partner characteristics play a role in this relationship. This dissertation explores how heterogeneity in trade influences the responsiveness of trade to real exchange rate fluctuations. To my knowledge, this is the first set of papers exploring this heterogeneity. The first paper of this dissertation explores heterogeneity with U.S. commodity-level trade data. Trade responsiveness to real fluctuations varies across product and trading partner characteristics. I find no evidence of long run gains in trade following real depreciation, suggesting that currency manipulation policies meant to improve a country’s trade balance may have no effect on trade in the long run. Prices in international trade contracts with U.S. firms are largely invoiced in U.S. dollars. However, the current literature suggests that the currency in which these prices are set should affect the relationship between trade and real exchange rates in the short run. The second paper of this dissertation explores the implications of currency invoicing patterns using Japanese commodity-level trade data. I find that the response of trade to real fluctuations may differ in the short and long run across product and trading partner characteristics. I also find that the response of trade in the long run may be correlated with comparative advantage. The third paper of this dissertation explores the implications of foreign exchange market liberalization in Japan following the Asian Financial Crisis. I find that liberalization, coupled with financial market reforms, resulted in trade being less responsive to real fluctuations. I also find no evidence of long run trade balance improvement before or after liberalization and that the reform may have eliminated temporary short run gains, suggesting that currency manipulation policies may have no effect on short or long run trade.

This study presents the design, construction and testing of an Outdoor Gas Emission Sampling (OGES) System capable of gas sampling and calorimetry in outdoor conditions with wind. In large-scale, outdoor fire tests, wind-driven emission plumes present a challenge in heat release rate quantification because the emission plume rises upward at an angle. A new gas sampling system with a flexible hood design and smaller control volume has been designed and tested. Bulk flow rate, oxygen, carbon dioxide, and carbon monoxide concentrations are measured for heat release rate calculations. Two stages of experimentation are described. Experiments at intermediate-scale (indoor only) that were conducted to evaluate the performance of a smaller control volume for measurements, and large-scale (indoor and outdoor) experiments, to demonstrate feasibility in realistic field conditions as well as the new flexible hood design. Experiments show that the OGES system is capable of calculating the heat release rate of pool fires with an accuracy of 23% using oxygen consumption (OC) and carbon dioxide generation (CDG) methods. Further improvements of the OGES system for outdoor field deployment are also discussed.

Wong Pak Kin. / Year shown on spine: 1997. / Thesis (M.Phil.)--Chinese University of Hong Kong, 1996. / Includes bibliograpical references. / Abstract --- p.i / Acknowledgment --- p.iii / Chapter Chapter I --- Introduction --- p.1 / Chapter Chapter II --- Literature Review --- p.6 / Chapter Chapter III --- Markets and Instruments / Chapter 3.1 --- International Money Markets --- p.15 / Chapter 3.1.1 --- Euro-deposit Market --- p.17 / Chapter 3.2 --- International Bond Markets --- p.20 / Chapter Chapter IV --- Preliminary Analysis of Data --- p.24 / Chapter 4.1 --- Data --- p.24 / Chapter 4.2 --- Descriptive Statistic Of Data Used In This Study --- p.29 / Chapter Chapter V --- Research Methodology / Chapter 5.1 --- Unit Root --- p.33 / Chapter 5.2 --- Cointegration and Error Correction Model --- p.37 / Chapter 5.2.1 --- Cointegration Using Engle and Granger Methodology --- p.39 / Chapter 5.2.2 --- Cointegration Using Johansen Methodology --- p.42 / Chapter Chapter VI --- Empirical Results / Chapter 6.1 --- Testing for Unit Root --- p.47 / Chapter 6.1.1 --- Short-term Interest Rates --- p.47 / Chapter 6.1.2 --- Long-term Interest Rates --- p.48 / Chapter 6.2 --- Testing for Cash-Futures Relationship --- p.54 / Chapter 6.3 --- Multivariate tests for Cointegration and VECM --- p.59 / Chapter 6.3.1 --- Cointegration in the International Money Markets --- p.63 / Chapter 6.3.2 --- Cointegration in the Interest Rate Futures Markets --- p.67 / Chapter 6.3.3 --- Cointegration in the International Bond Markets --- p.71 / Chapter 6.3.4 --- Cointegration in the Bond Futures Markets --- p.75 / Chapter Chapter VII --- Concluding Comment --- p.91 / Reference / Appendix

Thesis (Ph.D.)--Massachusetts Institute of Technology, Dept. of Economics, 1981. / MICROFICHE COPY AVAILABLE IN ARCHIVES AND DEWEY. / Vita. / Bibliography: leaves 278-286. / by Randall Poor Ellis. / Ph.D.

[pt] Este trabalho procura discutir alternativas de regimes cambiais, avaliando o comportamento da taxa de câmbio real e seus reflexos no crescimento das exportações dos países emergentes, abrangendo o período das crises cambiais e de balanço de pagamento ocorridas nesses países durante a década de 1990. A flexibilização das restrições à movimentação internacional de capitais além da maior integração nos fluxos de produção e comércio possibilitou às empresas estender suas operações em âmbito global expandindo vendas, desenvolvendo produção, estruturas e compra de insumos nos mais diversos locais. Identificar possíveis correlações entre os regimes cambiais praticados e a evolução das exportações desses países, pode constituir ferramenta útil na avaliação da decisão de investimento multinacional. / [en] The objective of this paper is to discuss alternatives of exchange rate regimes and monetary policy choices, aiming to compare behavior of the real exchange rate with growth of exports, during the period of exchange rate and balance of payments crises during the 1990´s. The international capital movements and greater integration of global production and flexibilization of trade flows, allowed corporations to operate globally, expanding purchasing, production and sales around the world. Identifying possible correlations between the choice of exchange rate regimes and the growth of exports in these countries, can be a practical tool in multinational corporate investment evaluation.

Burgers’ Equation ut + cuux = νuxx is a nonlinear partial differential equation which arises in models of traffic and fluid flow. It is perhaps the simplest equation describing waves under the influence of diffusion. We consider the large time behavior of solutions with exponentially localized initial conditions, analyzing the rate of convergence to a known self similar single-hump solution. We use the Cole-Hopf Transformation to convert the problem into a heat equation problem with exponentially localized initial conditions. The solution to this problem converges to a Gaussian. We then find an optimal Gaussian approximation which is accurate to order t−2. Transforming back to Burgers’ Equation yields a solution accurate to order t−2.

The boundary layer problems in periodic homogenization arise naturally from the quantitative analysis of convergence rates. Formally they are second-order linear elliptic systems with periodically oscillating coefficient matrix, subject to periodically oscillating Dirichelt or Neumann boundary data. In this dissertation, for either Dirichlet problem or Neumann problem, we establish the homogenization results and obtain the nearly sharp convergence rates, provided the domain is strictly convex. Also, we show that the homogenized boundary data is in W1,p for any p ∈ (1,∞), which implies the Cα-Hölder continuity for any α ∈ (0,1).