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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

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

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

Lessons of the European crisis for regional monetary and financial integration in East Asia

Volz, Ulrich - 2012

The debt crisis in several member states of the euro area has raised doubts on the viability of European Economic and … Monetary Union (EMU) and the future of the euro. While the launch of the euro in 1999 stirred a lot of interest in regional … 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

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

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

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

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

Asia in global governance : a case for decentralized institutions

Kawai, Masahiro; Petri, Peter A.; Şişli-Ciamarra, Elif - 2009

The global economic crisis refocused attention on the governance of international economic institutions (IEIs). This study uses the analytical framework of club theory to highlight structural obstacles to reform in international macroeconomic management, development finance, trade, and financial...

Persistent link: https://www.econbiz.de/10003901475

Reform of the international financial architecture : an Asian perspective

Kawai, Masahiro - 2009

- particularly that of systemically important economies (such as the US, the UK and the Euro Area) - as well as its governance …

Persistent link: https://www.econbiz.de/10003901587