Working Paper
National, regional and metro-specific factors of the U.S. housing market
Fu, Dong (2007)
We build a dynamic latent factor model to decompose housing prices in major U.S. metropolitan areas into national, regional, and metro-specific idiosyncratic factors, in order to distinguish the different dynamics behind housing price movements. We find that there is a distinctive national factor that has contributed about one-fourth of the individual metropolitan's housing price volatility. The regional factor accounts for another one-fourth and the idiosyncratic factor explains about half of housing price fluctuations. However, at the regional level, the factors' contributions vary across a ...
Working Papers , Paper 0707

Working Paper
Inflation expectations, real interest rate and risk premiums -- evidence from bond market and consumer survey data
Fu, Dong (2007)
This paper extracts information on inflation expectations, the real interest rate, and various risk premiums by exploring the underlying common factors among the actual inflation, University of Michigan consumer survey inflation forecast, yields on U.S. nominal Treasury bonds, and particularly, yields on Treasury Inflation Protected Securities (TIPS). Our findings suggest that a significant liquidity risk premium on TIPS exists, which leads to inflation expectations that are generally higher than the inflation compensation measure at the 10-year horizon. On the other hand, the estimated ...
Working Papers , Paper 0705

Journal Article
Beyond the border: China's growing economic influence in East Asia after WTO
Fu, Dong; Koo, Jahyeong (2002-05)
Southwest Economy , Issue May , Pages 13 - 14

Journal Article
Capital in and out of China
Fu, Dong (2000-03)
Southwest Economy , Issue Mar , Pages 10, 12

Journal Article
China deflates despite growth
Fu, Dong (1999-05)
Southwest Economy , Issue May , Pages 14

Working Paper
Fiscal policy and growth
Fu, Dong; Taylor, Lori L.; Yücel, Mine K. (2003)
In the literature neither taxes, government spending nor deficits are robustly correlated with economic growth when evaluated individually. The lack of correlation may arise from the inability of any single budgetary component to fully capture the stance of fiscal policy. We use pair-wise combinations of fiscal indicators to assess the relationship between fiscal policy and U.S. growth. ; We develop a VAR methodology for evaluating simultaneous shocks to more than one variable and use it to examine the impulse responses for simultaneous, unexpected and equivalent structural shocks to ...
Working Papers , Paper 0301

Journal Article
Is Japan's long nightmare finally over
Fu, Dong; Koo, Jahyeong (2004-03)
Southwest Economy , Issue Mar , Pages 17-18

Journal Article
Foreign exchange policy and banking reform in China
Fu, Dong (2005-07)
Southwest Economy , Issue Jul , Pages 16-18

Journal Article
Currency board and market intervention in Hong Kong
Fu, Dong (2001-05)
Southwest Economy , Issue May , Pages 13-14