This paper studies the pros and cons of a monetary union for the ASEAN1 countries, excluding Myanmar. We estimate a stylized open-economy dynamic general equilibrium model for the ASEAN countries. Using the framework of linear quadratic differential games, we contrast the potential gains or...

Intergenerational redistribution is one of the major aims of national welfare states that have to prove their reliability in a world of internationally integrated goods and factor markets. In this paper, we analyse the conditions for the existence of steady-state equilibria and the (Pareto-)...