Articles: Currency board/ peg
Webb on HK protests and China: a 1-hour podcast
Hidden Forces, 19-Aug-2019
Recorded at 9pm HKT on 16-Aug-2019, a wide-ranging discussion on the unsustainability of HK's model of civil liberties without democracy and the possible outcomes, as well as the unsustainability of the centrally-planned Chinese economic model.
Hidden Forces, 19-Aug-2019
Recorded at 9pm HKT on 16-Aug-2019, a wide-ranging discussion on the unsustainability of HK's model of civil liberties without democracy and the possible outcomes, as well as the unsustainability of the centrally-planned Chinese economic model.
Yam's Thick Peg
After 18 months of destructive ambiguity, in which interest rates have been on the floor and property prices bubbling up to the ceiling, Joseph Yam has admitted the need for a two-way convertibility undertaking on the Hong Kong dollar. The bad news is that, for the sake of preserving bankers' jobs and banks' profits, we have a thick peg, 10 cents wide, and continuing uncertainty, rather than a fixed exchange rate. (27-May-2005)
After 18 months of destructive ambiguity, in which interest rates have been on the floor and property prices bubbling up to the ceiling, Joseph Yam has admitted the need for a two-way convertibility undertaking on the Hong Kong dollar. The bad news is that, for the sake of preserving bankers' jobs and banks' profits, we have a thick peg, 10 cents wide, and continuing uncertainty, rather than a fixed exchange rate. (27-May-2005)
Refinements to the Operation of the Linked Exchange Rate System
HK Monetary Authority, 18-May-2005
The peg now has a strong-side convertibility undertaking at 7.75, on top of the existing weak-side which will move to 7.85. Welcome to the thick peg.
HK Monetary Authority, 18-May-2005
The peg now has a strong-side convertibility undertaking at 7.75, on top of the existing weak-side which will move to 7.85. Welcome to the thick peg.
Destructive Ambiguity
The Hong Kong dollar was pegged twenty years ago today. We take aim at Yambo's latest whacky doctrine of "constructive ambiguity". The whole point of the peg in 1983 was to reduce uncertainty, not increase it. Uncertainty attracts speculators and certainty turns them off. So how can you profit from all this? We'll tell you. (15-Oct-2003)
The Hong Kong dollar was pegged twenty years ago today. We take aim at Yambo's latest whacky doctrine of "constructive ambiguity". The whole point of the peg in 1983 was to reduce uncertainty, not increase it. Uncertainty attracts speculators and certainty turns them off. So how can you profit from all this? We'll tell you. (15-Oct-2003)
Creeping Dollarisation in HK
After ruling out dollarisation as an option in its Financial Market Review in 1998, the Government is embarking on a course that will lead to the next best thing. We take a look ahead to how the introduction of a US Dollar clearing system in Hong Kong may eventually lead to the sidelining of the Hong Kong Dollar to pocket change. (23-May-2000)
After ruling out dollarisation as an option in its Financial Market Review in 1998, the Government is embarking on a course that will lead to the next best thing. We take a look ahead to how the introduction of a US Dollar clearing system in Hong Kong may eventually lead to the sidelining of the Hong Kong Dollar to pocket change. (23-May-2000)
Government Stock Market Intervention
A commentary on the Hong Kong government's controversial intervention in the local stock market, which began on 14-Aug-98. This article covers our various activities in this area in 1998-1999. Webb-site.com was launched in Nov-1998. (31-Jan-1999)
A commentary on the Hong Kong government's controversial intervention in the local stock market, which began on 14-Aug-98. This article covers our various activities in this area in 1998-1999. Webb-site.com was launched in Nov-1998. (31-Jan-1999)
More measures on the peg, shifting convertibility undertaking to 7.80
HK Monetary Authority, 26-Nov-1998
HK Monetary Authority, 26-Nov-1998
Booms, Busts and Dollarisation
A presentation by David M. Webb to the American Chamber of Commerce in Hong Kong. (3-Nov-1998)
A presentation by David M. Webb to the American Chamber of Commerce in Hong Kong. (3-Nov-1998)
Dollarisation
Why dollarisation would be good for Hong Kong (3-Nov-1998)
Why dollarisation would be good for Hong Kong (3-Nov-1998)
Strengthening of currency board arrangements in HK
HK Monetary Authority, 5-Sep-1998
The "7 measures" to dampen interest rate movements by broadening the effective monetary base to include Exchange Fund notes.
HK Monetary Authority, 5-Sep-1998
The "7 measures" to dampen interest rate movements by broadening the effective monetary base to include Exchange Fund notes.
Cementing the marriage can save the family
This article by David M. Webb was published in the South China Morning Post. (26-Aug-1998)
This article by David M. Webb was published in the South China Morning Post. (26-Aug-1998)
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