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New Measures of the Trilemma Hypothesis : Implications for Asia
Ito, Hiro; Kawai, Masahiro - East Asian Bureau of Economic Research (EABER) - 2012
We develop a new set of indexes of exchange rate stability, monetary policy independence, and financial market openness as the metrics for the trilemma hypothesis. In our exploration, we take a different and more nuanced approach than the previous indexes developed by Aizenman, Chinn, and Ito...
Persistent link: https://www.econbiz.de/10011278057
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New Measures of the Trilemma Hypothesis : Implications for Asia
Ito, Hiro; Kawai, Masahiro - East Asian Bureau of Economic Research (EABER) - 2012
We develop a new set of indexes of exchange rate stability, monetary policy independence, and financial market openness as the metrics for the trilemma hypothesis. In our exploration, we take a different and more nuanced approach than the previous indexes developed by Aizenman, Chinn, and Ito...
Persistent link: https://www.econbiz.de/10011278155
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Determinants of the Trilemma Policy Combination
Ito, Hiro; Kawai, Masahiro - East Asian Bureau of Economic Research (EABER) - 2014
We present a theoretical framework for policy making based on the “impossible trinity†or the “trilemma†hypothesis. A simple optimization model shows that placing more weight in terms of preference for each of the three open macroeconomic policies—exchange rate...
Persistent link: https://www.econbiz.de/10010857585
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The Renminbi and Exchange Rate Regimes in East Asia
Kawai, Masahiro; Pontines, Victor - East Asian Bureau of Economic Research (EABER) - 2014
With the rise of the People’s Republic of China (PRC) as the world’s largest trading nation (measured by trade value) and second largest economic power (measured by GDP), its economic influence over the neighboring emerging economies in East Asia has also risen. The PRC introduced...
Persistent link: https://www.econbiz.de/10011134348
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The Renminbi and Exchange Rate Regimes in East Asia
Kawai, Masahiro; Pontines, Victor - East Asian Bureau of Economic Research (EABER) - 2014
With the rise of the People’s Republic of China (PRC) as the world’s largest trading nation (measured by trade value) and second largest economic power (measured by GDP), its economic influence over the neighboring emerging economies in East Asia has also risen. The PRC introduced...
Persistent link: https://www.econbiz.de/10011134381
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Regional Financial Regulation in Asia
Kawai, Masahiro; Morgan, Peter J. - East Asian Bureau of Economic Research (EABER) - 2014
of regional financial integration and regulation in the world today, and can provide valuable lessons for Asia. Asiaâ …
Persistent link: https://www.econbiz.de/10011134340
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Regional Financial Regulation in Asia
Kawai, Masahiro; Morgan, Peter J. - East Asian Bureau of Economic Research (EABER) - 2014
of regional financial integration and regulation in the world today, and can provide valuable lessons for Asia. Asiaâ …
Persistent link: https://www.econbiz.de/10011134373
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Regional Financial Regulation in Asia
Kawai, Masahiro; Morgan, Peter J. - East Asian Bureau of Economic Research (EABER) - 2014
of regional financial integration and regulation in the world today, and can provide valuable lessons for Asia. Asiaâ …
Persistent link: https://www.econbiz.de/10011134388
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Emerging Economies’ Supply Shocks and Japan’s Price Deflation : International Transmissions in a Three-Country DSGE Model
Hirakata, Naohisa; Iwasaki, Yuto; Kawai, Masahiro - East Asian Bureau of Economic Research (EABER) - 2014
This paper examines the international transmission effects that a positive supply shock in emerging economies may have … countries and analyze the impact of a supply shock in an emerging economy, the People’s Republic of China (PRC), on inflation … supply shock in the PRC. Specifically, Japan is under a greater deflationary pressure than the US because of its vertical …
Persistent link: https://www.econbiz.de/10011134369
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Financing Development Cooperation in Northeast Asia
Kawai, Masahiro - East Asian Bureau of Economic Research (EABER) - 2013
This paper examines financing mechanisms to support infrastructure development and connectivity in Northeast Asia—comprising the Northeastern People’s Republic of China, Japan, the Democratic People’s Republic of Korea (DPRK), the Republic of Korea, Mongolia, and the...
Persistent link: https://www.econbiz.de/10011278024