Witvorapong, N., Cheng, C. H. J., 2024. Health Care Policy Uncertainty and State-Level Employment (This paper shows that health care policy uncertainty has important implications for aggregate- and state-level employment.) Empirical Economics, 66, 2501–2532.
Hankins, W. B., Cheng, C. H. J., Stone, A., 2022. The Impact of Uncertainty Shocks on State-Level Employment (This paper shows that macroeconomic uncertainty has important implications for state-level employment growth.) Journal of Macroeconomics, 73, 103426.
Cheng, C. H. J., Witvorapong, N., 2021. Health Care Policy Uncertainty, Real Health Expenditures and Health Care Inflation in the USA (This paper shows that health care policy uncertainty has important implications for the health care sector in the US.) Empirical Economics, 60, 2083-2103.
Cheng, C. H. J., Chiu, C., 2020. Nonlinear Effects of Mortgage Spreads over the Business Cycle (This paper provides robust evidence for the nonlinear effects of mortgage spread shocks during recessions and expansions in the United States.) Journal of Money, Credit and Banking, 52(6), 1593-1611.
Hankins, W. B., Stone, A., Cheng, C. H. J., Chiu, C., 2020. Corporate Decision-Making in the Presence of Political Uncertainty: The Case of Corporate Cash Holdings (This paper uses a quarterly panel of U.S. corporations to show that an unanticipated shock to political uncertainty leads managers to increase cash holdings.) The Financial Review, 55(2), 307-337.
Cheng, C. H. J., Chiu, C., Hankins, W. B., Stone, A., 2018. Partisan Conflict, Policy Uncertainty and Aggregate Corporate Cash Holdings (This paper distinguishes political uncertainty from policy uncertainty shocks and uncovers new empirical facts about how each impacts the aggregate cash holdings of US firms.) Journal of Macroeconomics, 58, 78-90.
Cheng, C. H. J., Chiu, C., 2018. How Important Are Global Geopolitical Risks to Emerging Countries (This paper shows that shocks to global geopolitical risk carry considerable business cycle implications for emerging economies.) International Economics, 156, 305-325.
Cheng, C. H. J., 2017. Effects of Foreign and Domestic Economic Policy Uncertainty Shocks on South Korea (This paper investigates the effects of foreign and domestic economic policy uncertainty shocks on South Korea via structural VARs.) Journal of Asian Economics, 51, 1-11.
Cheng, C. H. J., 2017. Export Currency Pricing and Fiscal Multipliers (This paper develops a small open economy DSGE model to study the implications of the use of foreign currency in export pricing for fiscal policy in East Asian economies.) Global Economic Review, 46(2), 81-100.
Cheng, C. H. J., Hankins, W. B., Chiu, C., 2016. Does US Partisan Conflict Matter for the Euro Area (This paper highlights the international transmission of political uncertainty originated from a US partisan conflict shock.) Economics Letters, 138(1), 64-67.
Cheng, C. H. J., 2014. Exchange Rate Pass-Through, Unemployment and Optimal Implementable Monetary Policy Rule for Emerging Economies (This paper develops a small open economy model with nominal rigidities and search-matching frictions to study the implications of exchange rate pass-through for monetary policy in emerging countries.) Global Economic Review, 43(3), 221-243.
Cheng, C. H. J., 2013. Exchange RatePass-through and Fiscal Multipliers (This paper develops a small open economy model with nominal rigidities and search-matching frictions to study the implications of the degree of exchange rate pass-through for fiscal multipliers.) The B.E. Journal of Macroeconomics (Contributions), 13(1), 609-641.
Working Papers
Permanent Working Paper
Does Partisan Conflict Impacts the Cash Holdings of Firms? A Sign Restrictions Approach (with William B. Hankins, Ching-Wai (Jeremy) Chiu and Anna-Leigh Stone), Bank of England Staff Working Paper No. 638