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Creation and evolution of European economic and monetary union : lessons for Asian economic integration
Subramanian, Muthurangam; Taghizadeh-Hesary, Farhad; … - 2020
of history confirm the stability of the euro as a single currency in the region and it is seen as a great achievement of …
Persistent link: https://www.econbiz.de/10012212663
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The eurozone in the current crisis
Wyplosz, Charles - 2010
This paper contrasts the United States (US) and European situations during the crisis and examines how much of the crisis has been imported by Europe from the US. The paper argues that Europe never had a chance to avoid contagion from the US. It also documents the relatively limited reaction of...
Persistent link: https://www.econbiz.de/10003983135
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Europe's debt crisis, coordination failure, and international effects
Collignon, Stefan - 2012
. It finds that political mishandling has increased uncertainty, which has contributed to a tendency for the euro to become …
Persistent link: https://www.econbiz.de/10009560024
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Lessons of the European crisis for regional monetary and financial integration in East Asia
Volz, Ulrich - 2012
Monetary Union (EMU) and the future of the euro. While the launch of the euro in 1999 stirred a lot of interest in regional …The debt crisis in several member states of the euro area has raised doubts on the viability of European Economic and … had the opposite effect, even raising expectations of a breakup of the euro area. Indeed, the crisis has highlighted the …
Persistent link: https://www.econbiz.de/10009492387
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Dynamic transition of the exchange rate regime in the People's Republic of China
Yoshino, Naoyuki; Kaji, Sahoko; Asonuma, Tamon - 2014
This paper analyzes the optimal transition of the exchange rate regime in the People's Republic of China (PRC). How the PRC can successfully reach the desired regime - whether a basket peg or floating regime - from the current dollar-peg regime remains a major question. To answer it, we develop...
Persistent link: https://www.econbiz.de/10010345244
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Dynamic analysis of exchange rate regimes : policy implications for emerging countries in Asia
Yoshino, Naoyuki; Kaji, Sahoko; Asonuma, Tamon - 2014
This paper discusses desirable exchange rate regimes and how countries can shift from their current regimes to these regimes over the medium term. We demonstrate the superiority of a basket-peg regime with the basket weight rule over a floating regime with the interest rate rule or the money...
Persistent link: https://www.econbiz.de/10010420010
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Expanding beyond borders : the yen and the yuan
Subacchi, Paola - 2013
As all eyes are on the strategy and policy measures of the People's Republic of China (PRC) to push the international use of the yuan, this paper turns to the internationalization of the Japanese yen and compares it with what the PRC is doing. There are some fundamental differences in the...
Persistent link: https://www.econbiz.de/10010211308
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Trilemma and financial stability configurations in Asia
Aizenman, Joshua - 2011
This paper takes stock of recent research dealing with the degree to which the trilemma choices of Asian countries facilitated a smoother adjustment during the global crisis of 2008-2009, and the way the region has been coping with the adjustment to the postcrisis challenges. We point out that...
Persistent link: https://www.econbiz.de/10009379740
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Revisiting the internationalization of the yuan
Yu, Yong-ding - 2012
As the world's second largest economy, largest trading nation, and the largest foreign holder of United States (US) government bonds, the People's Republic of China (PRC) needs a currency with international status that can match its economic status in the global economy. However, sequencing is...
Persistent link: https://www.econbiz.de/10009557903
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The political economy of reducing the United States dollar's role as a global reserve currency
Yap, Josef T. - 2011
Many have argued that the major source of the existing global macroeconomic imbalances are the twin deficits of the United States (US). However, there is still a debate about whether the global imbalances indeed pose a significant threat to the world economy. This matter is settled by arguing...
Persistent link: https://www.econbiz.de/10009267732