This paper is to investigate how much realignment of currencies is needed for adjustments to the current account imbalances of Japan compared with those of East Asia as a whole, given the productions networks in East Asia. The analyses show that the large realignments of the Japanese yen and...

This paper analyzes how much deviation we have among Asian currencies which include the Indian rupee, the Australian dollar, and the New Zealand dollar, given that we are discussing an East Asian Community based on ASEAN+3(Japan, China, and South Korea)+3(India, Australia, and New Zealand). We...

This paper investigates how the AMU Deviation Indicators for surveillance measurements among East Asian currencies are improved by changing their benchmark rates from the constant rates in 2000-2001 to time-varying rates based on their Purchasing Power Parities (PPPs). The Consumer Price Indexes...