Common currency areas and Asian common currency areas in particular are highly topical and somewhat controversial areas for research. We explore the hypothesis that the members of the Association of Southeast Asian Nations meet necessary conditions for forming a common currency area and whether...

Central banks continue to publish simple sum measures of the money stock and draw policy inferences from their behaviour even though it has been demonstrated conclusively that such data violate basic principles of economic and index number theory. (See, for example, Belongia (1996)). Simple sum...