| 来源类型 | Working Paper
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| 规范类型 | 报告
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| DOI | 10.3386/w12198
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| 来源ID | Working Paper 12198
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| Stabilization of Effective Exchange Rates Under Common Currency Basket Systems |
| Eiji Ogawa; Junko Shimizu
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| 发表日期 | 2006-05-08
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| 出版年 | 2006
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| 语种 | 英语
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| 摘要 | We investigate the extent to which a common currency basket peg would stabilize effective exchange rates of East Asian currencies. We use an AMU (Asian Monetary Unit), which is a weighted average of ASEAN10 plus 3 (Japan, China, and Korea) currencies, as a common currency basket to investigate the stabilization effects. We compare our results with another result on stabilization effects of the common G3 currency (the US dollar, the Japanese yen, and the euro) basket in the East Asian countries (Williamson (2005)). We obtained the following results: first, the AMU peg system would be more effective in reducing fluctuations of the effective exchange rates as more countries applied the AMU peg system in East Asia. Second, the AMU peg system would more effectively stabilize the effective exchange rates than a common G-3 currency basket peg system for four (Indonesia, the Philippines, South Korea and Thailand) of the seven countries. The results suggest that the AMU basket peg would be useful for the East Asian countries whose trade weights on Japan are relatively higher than others. |
| 主题 | Macroeconomics
; Fiscal Policy
; International Economics
; International Finance
; International Macroeconomics
|
| URL | https://www.nber.org/papers/w12198
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| 来源智库 | National Bureau of Economic Research (United States)
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| 引用统计 |
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/569852
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推荐引用方式
GB/T 7714 |
Eiji Ogawa,Junko Shimizu. Stabilization of Effective Exchange Rates Under Common Currency Basket Systems. 2006.
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文件名：
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w12198.pdf
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格式：
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Adobe PDF
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