Stabilising Asia-Pacific exchange rates by establishing a system of pegs, bands or target zones around the Japanese yen requires the compromise of domestic policy autonomy. The cost of doing so is least when members' reaction to economic shocks are symmetric. This study considers which...

Stabilising Asia-Pacific exchange rates by establishing a system of pegs, bands or target zones around the Japanese yen requires the compromise of domestic policy autonomy. The cost of doing so is least when members reaction to economic shocks are symmetric. This study considers which currencies...

Recent technology change and market liberalization have substantially reduced the costs of providing international message telephone services (IMTS). However, the full extent of these cost reductions have generally not been reflected in lower prices. This paper reviews the recent literature on...