Chih-Chuan Yeh - Academia.edu (original) (raw)

Papers by Chih-Chuan Yeh

Social Science Research Network, 2012

Scottish Journal of Political Economy, 2010

Economics Letters, 2012

Abstract This paper empirically tests for convergence in consumer price indices across 17 major c... more Abstract This paper empirically tests for convergence in consumer price indices across 17 major cities in US over the 19182008 period. By using the novel OLS estimator introduced by Bao and Dhongde (2009), we find overwhelming evidences in support of price level ...

Studies in Nonlinear Dynamics & Econometrics, 2009

Working Papers, Aug 1, 2012

Academy of Management Proceedings

Contract is regarded as knowledge repositories in governing inter-organizational exchanges, and t... more Contract is regarded as knowledge repositories in governing inter-organizational exchanges, and transaction partners can learn from prior interactions to have the contract to be specified in greate...

Using quantile regressions and cross-sectional data from 152 countries, we examine the relationsh... more Using quantile regressions and cross-sectional data from 152 countries, we examine the relationship between inflation and its variability. We consider two measures of inflation the mean and median and three different measures of inflation variability the standard deviation, coefficient of variation, and median deviation. Using the mean and standard deviation or the median and the median deviation, the results support both the hypothesis that higher inflation creates more inflation variability and that inflation variability raises inflation across quantiles. Moreover, higher quantiles in both cases lead to larger marginal effects of inflation (inflation variability) on inflation variability (inflation). Using the mean and the coefficient of variation, however, the findings largely support no correlation between inflation and its variability. Finally, we also consider whether thresholds for inflation rate or inflation variability exist before finding such positive correlations. We fin...

International Journal of Social and Humanistic Computing

Journal of Empirical Finance

Journal of International Money and Finance

Pacific-Basin Finance Journal

In contrast to the conventional conditional mean approaches, this study uses quantile regression ... more In contrast to the conventional conditional mean approaches, this study uses quantile regression techniques to present some new statistical evidence on the links between inflation uncertainty and the level of inflation with cross-sectional data from 90 countries during the period 1961 to 2006. The results suggest that positive inflation shocks have stronger impact on inflation uncertainty which varies across the

Applied Economics Letters, 2016

SSRN Electronic Journal, 2000

Studies in Nonlinear Dynamics and Econometrics, 2000

The paper examines whether the effect of inequality on growth varies with the level of economic d... more The paper examines whether the effect of inequality on growth varies with the level of economic development. Using a comprehensive panel of annual data for the 48 contiguous US states over the period 1945–2004, we find overwhelming evidence in support of threshold effects in the relationship between inequality and growth. Our analysis shows that while the effect of inequality on growth is significantly negative at lower levels of development, this effect diminishes along the growth process and then turns significantly positive at higher levels of development. Quantitatively, the coefficient estimates imply that when real income per capita is below the threshold of $12,140 (2004 US dollar), a one standard deviation increase in the share of income held by the top 1% of the population

This paper carries out the methodology suggested by Den Haan (2000) to investigate the co-movemen... more This paper carries out the methodology suggested by Den Haan (2000) to investigate the co-movement of inflation and real stock returns using quarterly data from OECD countries. We confirm the existence of both short-run and long-run relationships between inflation and real stock returns, regardless of whether the underlying time series data are purely I(0), purely I(1), or mutually co-integrated. Moreover, we use the confidence interval approach introduced by Stock (1991) to further point out the ambiguity in unit root tests. However, our results support the existence of an inverse co-movement and long-run relationship between these two variables in 12 OECD countries. That is, an increase in inflation depresses real stock prices. This evidence is consistent with both the inflation illusion hypothesis and with the classical view that stock returns should be undervalued to reflect the imbalance in the tax treatment of inventory.

Energy Policy, 2012

ABSTRACT Energy saving can importantly help prevent greenhouse gas emissions and, thus, climate c... more ABSTRACT Energy saving can importantly help prevent greenhouse gas emissions and, thus, climate change. Energy service companies (ESCOs) provide a crucial instrument for delivering improved energy efficiency and potentially contributing to substantial energy savings in the public and private sectors. This paper investigates empirically the effect of ESCO activities on energy use. Based on a dynamic IPAT model, using a panel data of 94 countries over the period 1981 to 2007, we provide significant evidence that ESCOs reduce energy use. This finding proves robust to different dates of the first ESCO. The negative ESCO effect increases over time. The dynamic adjustment process produces small effects in the short run, but large effects in the long run. Moreover, the long-run ESCO effect differs across the stages of development. That is, for the high- and low-income countries, the short-run ESCO effect remains negative, but the long-run effects differ, remaining negative in high-income countries, but becoming positive in low-income countries. Finally, we discuss energy policy implications.

Empirical Economics, 2010