Chong kee Yip Department of Economics, The Chinese University of Hong Kong   The Chinese University of Hong Kong The Chinese University of Hong Kong Shatin, N.T., Hong Kong, Hong Kong   chongkeeyip@cuhk.edu.hk   http://www.cuhk.edu.hk/eco/staff/ckyip/ckyip.htm           JEL Areas: E : Macroeconomics and Monetary Economics F : International Economics