responds to inflation and output volatility, especially during economic crises. This framework offers a promising alternative …

the variability. The measured variables are used to model inflation and intraregional trade growth of individual union … that the intraregional variability consists of mainly short-run shocks, which have significantly affected the inflation and … trade growth of major ASEAN+3 members, and that a union would reduce inflation and promote intraregional trade on the whole …

inflation and growth rates have diminished. In this case, the single monetary policy would rather meet the monetary needs of the …