Real effects of common currencies in East Asia /

Real effects of common currencies in East Asia /

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Bibliographic Details
Author / Creator:Shirono, Kazuko, author.
Imprint:[Washington, D.C.] : International Monetary Fund, IMF Institute, ©2007.
Description:1 online resource (23 pages) : illustrations
Language:English
Series:IMF working paper, 2227-8885 ; WP/07/166
IMF working paper ; WP/07/166.
Subject:
Monetary unions -- East Asia -- Econometric models.
Currency question -- East Asia -- Econometric models.
Commerce -- Econometric models.
Currency question -- Econometric models.
Monetary unions -- Econometric models.
East Asia -- Commerce -- Econometric models.
East Asia.
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/12497868
Hidden Bibliographic Details
Other authors / contributors:IMF Institute.
ISBN:1283513293
9781283513296
1451911831
9781451911831
1462358853
9781462358854
1452793506
9781452793504
9786613825742
6613825743
Notes:Includes bibliographical references (pages 21-23).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
Summary:Since the 1997 Asian currency crisis, new interest has emerged in the formation of a common currency area in East Asia. This paper provides estimates of trade and welfare effects of East Asian currency unions, using a micro-founded gravity model. Counter-factual experiments to assess the effects of various hypothetical currency arrangements for East Asia suggest that an East Asian currency union will double bilateral trade in the region, but the resulting welfare effects will be moderate. However, if Japan, a major trade partner for East Asia, is included in the union, welfare effects increase substantially. The evidence thus suggests that certain regional currency arrangements in East Asia will stimulate regional trade rigorously and can generate economically significant welfare gains.
Other form:Print version: Shirono, Kazuko. Real effects of common currencies in East Asia. [Washington, D.C.] : International Monetary Fund, IMF Institute, ©2007
Standard no.:10.5089/9781451911831.001
Table of Contents:
  • I. Introduction; II. Gravity Model; A. Theory; B. Empirical Specification; III. National Currencies as a Trade Barrier; A. Estimating Parameters; Tables; 1. Gravity Model Estimation Results; B. East Asian Currency Unions; 2. Robustness Checks; 3. Common Currency Arrangements in East Asia; C. Extended Membership; 4. Common Currency Arrangements with Australia and New Zealand; IV. Yen Zone vs. Dollar Zone; A. Exchange Rate Policy in East Asia; B. Common Currency Arrangements; Figures; 1. Trade Effects of Common Currency; 5. Unilateral Arrangements vs. Regional Arrangements.
  • 2. Welfare Effects of Common CurrencyV. Conclusion; References.

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