We analyze a dual currency search model in which agents are allowed to hold multiple units of both currencies. Hence, agents hold portfolios of currency. We study equilibria in which the two currencies are identical and equilibria in which the two currencies differ according to the magnitude of...

I am grateful for the assistance of Kaleon Leong and Chong Wui Jean in the preparation of this paper. The paper draws on the work of the ASEAN Integration plan and other related papers for which the author gratefully acknowledges. The views expressed in the paper do not necessarily reflect the...

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This paper attempts to draw lessons for the New Economy from what economists know about technology dissemination and economic growth. It argues that what is most notable about the New Economy is that it is knowledge-driven, not just in the sense that knowledge now assumes increasing importance...