Zhang, Zhaoyong; Sato, Kiyotaka; McAleer, Michael - Center for International Research on the Japanese … - 2003
This paper examines whether forming an optimum currency area (OCA) is viable for the East Asian region by testing the symmetry of underlying structural shocks. A structural vector autoregression (VAR) method is used to identify the underlying shocks and to examine the correlation in shocks for...