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Economic stability and choice of exchange rate regimes
Kaji, Sahoko - 2013
the current euro area crisis. The euro may have led to bubbles, but member economies were not free of trouble before the … euro. Many members were losing competitiveness and in need of removing structural rigidities. If anything, the euro was … introduction of the euro and then discuss the governance overhaul taking place in Europe today. This overhaul was something that …
Persistent link: https://www.econbiz.de/10009706243
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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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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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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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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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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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Adjustments of capital account restrictions and exchange rate regimes in East Asia
Yoshino, Naoyuki; Kaji, Sahoko; Asonuma, Tamon - 2015
This paper discusses adjustments of capital account restrictions and exchange rate regimes in East Asia. Monetary authorities have two options for these adjustments: gradual adjustments or rapid adjustments. We analyze the costs and benefits for both adjustment options in each area, i.e.,...
Persistent link: https://www.econbiz.de/10010498553
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Comparison of static and dynamic analyses on exchange rate regimes in East Asia
Yoshino, Naoyuki; Kaji, Sahoko; Asonuma, Tamon - 2015
This paper compares three methods of analyzing exchange rate regimes in East Asia: static analysis, conventional dynamic analysis, and dynamic transition analysis. First we provide quantitative results that both estimated parameters for Thailand and time intervals are applied symmetrically...
Persistent link: https://www.econbiz.de/10011283725