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dc.contributor.authorCheung, Yin-Wongen_US
dc.contributor.authorYuen, Judeen_US
dc.date.accessioned2009-01-28T15:53:35Z-
dc.date.available2009-01-28T15:53:35Z-
dc.date.issued2004en_US
dc.identifier.urihttp://hdl.handle.net/10419/18888-
dc.description.abstractThe prospect of creating a currency union consisting of China, Japan, and Korea is evaluated using output data. After a brief discussion on the interactions between the three countries, the study investigates whether these three countries have common synchronous business cycles, which are perceived as one of the preconditions of a currency union. Then, we assess the potential costs of giving up monetary policy autonomy to form a currency union. It is found that the three national output series tend to move together in the long run and share common business cycles. While the output loss estimates depend on assumptions used to generate shocks, they tend to be small. However, there are potential conflicts between these countries on the choice of the policy target of the common monetary authorities.en_US
dc.language.isoengen_US
dc.publisheren_US
dc.relation.ispartofseriesCESifo working papers 1250en_US
dc.subject.jelF41en_US
dc.subject.jelF33en_US
dc.subject.ddc330en_US
dc.subject.keywordcommon stochastic trenden_US
dc.subject.keywordbusiness cyclesen_US
dc.subject.keywordoutput lossesen_US
dc.subject.keywordexchange rate regimeen_US
dc.subject.keywordAsian economiesen_US
dc.subject.stwWährungsunionen_US
dc.subject.stwKonjunkturzusammenhangen_US
dc.subject.stwKosten-Nutzen-Analyseen_US
dc.subject.stwChinaen_US
dc.subject.stwJapanen_US
dc.subject.stwSüdkoreaen_US
dc.titleAn output perspective on a northeast Asia currency unionen_US
dc.typeWorking Paperen_US
dc.identifier.ppn393376524en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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