C. James Hueng

C. James Hueng

Dr. C. James Hueng

Director of Graduate Programs
Ph.D., University of Wisconsin-Madison, 1997C. James Hueng

5412 Friedmann Hall
(269) 387-5558
Fax: (269) 387-5637

Dr. Hueng's homepage

Areas of Interest

Monetary Policy, Asset Pricing, Economic Growth and Business Cycle, Applied Time Series Econometrics


Dr. Hueng teaches Principles of Macroeconomics and Money and Banking at the undergraduate level; and Advanced Macroeconomics Theory, Monetary Theory, and Economics Workshop at the Ph.D. level. He also taught Intermediate Macroeconomics, Intermediate Microeconomics, Econometrics, and Time Series Analysis at the University of Alabama. 


Dr. Hueng has conducted research on open economy money demand, monetary policy rules, cross-country income convergence, inflation behaviors, business cycles, and determinants of stock returns. His current research focuses on central bank independence, open economy monetary policies, and stock return anomalies. He is serving as a member of the Board of Editors for the Atlantic Economic Journal. 

Selected Publications

"Country-Specific Idiosyncratic Risk and Global Equity Index Returns," with Ruey Yau. International Review of Economics and Finance, 25, 2013, pp. 326-337.

"Central Bank Behavior and Statutory Independence." Atlantic Economic Journal, 40 (2), 2012, pp. 111-126. Winner of the 2012 AEJ Best Article Award.

"Interest-Rate Risk Factor and Stock Returns: A Time-Varying Factor-Loadings Model," with Peng Huang. Applied Financial Economics, 19 (22), 2009, pp. 1813-1824.

"Conditional Risk-Return Relationship in a Time-Varying Beta Model," with Peng Huang. Quantitative Finance, 8 (4), June 2008, pp. 381-390.

"Investor Preferences and Portfolio Selection: Is Diversification an Appropriate Strategy?" with Ruey Yau. Quantitative Finance, 6 (3), June 2006, pp. 255-271.

"Short-Sales Constraints and Stock Return Asymmetry: Evidence from the Chinese Stock Markets." Applied Financial Economics, 16 (10), June 2006, pp. 707-716.

"Using an Aggregate Demand-Aggregate Supply Model to Identify Structural Demand-Side and Supply-Side Shocks: Results Using a Bivariate VAR" with James Cover and Walter Enders. Journal of Money, Credit, and Banking, 38 (3), April 2006, pp. 777-790.

"Forecasting Asymmetries in Aggregate Stock Market Returns: Evidence from Conditional Skewness," with James McDonald. Journal of Empirical Finance, 12(5), December 2005, pp. 666-685.

"Overreaction Effects Independent of Risk and Characteristics: Evidence from the Japanese Stock Market" with Chaoshin Chiao. Japan and the World Economy 17(4), December 2005, pp. 431-455.

"The Correlation Between Shocks to Output and the Price Level: Evidence from a Multivariate GARCH Model" with James Cover. Southern Economic Journal, 70 (1), July 2003, pp. 75-92.

"Are Policy Rules Better than the Discretionary System in Taiwan?" with James Cover and Ruey Yau. Contemporary Economic Policy 20 (1), January 2002, pp. 60-71.

"Sources of Persistence in Cross-Country Income Disparities: A Structural Analysis" with Ruey Yau. Journal of Macroeconomics, 22 (4), Fall 2000, pp. 611-630.

"Money Demand in an Open-Economy Shopping-Time Model: An Out-of-Sample-Prediction Application to Canada" Journal of Economics and Business 51(6), November/December 1999, pp. 489-503.  


Department of Economics
5307 Friedmann Hall
Western Michigan University
Kalamazoo MI 49008 USA
(269) 387-5535 | (269) 387-5637 Fax