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https://hdl.handle.net/10419/18888
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DC Field | Value | Language |
---|---|---|
dc.contributor.author | Cheung, Yin-Wong | en |
dc.contributor.author | Yuen, Jude | en |
dc.date.accessioned | 2009-01-28T15:53:35Z | - |
dc.date.available | 2009-01-28T15:53:35Z | - |
dc.date.issued | 2004 | - |
dc.identifier.uri | http://hdl.handle.net/10419/18888 | - |
dc.description.abstract | The prospect of creating a currency union consisting of China, Japan, and Korea is evaluatedusing output data. After a brief discussion on the interactions between the three countries, thestudy 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 thepotential costs of giving up monetary policy autonomy to form a currency union. It is foundthat the three national output series tend to move together in the long run and share commonbusiness cycles. While the output loss estimates depend on assumptions used to generateshocks, they tend to be small. However, there are potential conflicts between these countrieson the choice of the policy target of the common monetary authorities. | en |
dc.language.iso | eng | en |
dc.publisher | |aCenter for Economic Studies and ifo Institute (CESifo) |cMunich | en |
dc.relation.ispartofseries | |aCESifo Working Paper |x1250 | en |
dc.subject.jel | F41 | en |
dc.subject.jel | F33 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | common stochastic trend | en |
dc.subject.keyword | business cycles | en |
dc.subject.keyword | output losses | en |
dc.subject.keyword | exchange rate regime | en |
dc.subject.keyword | Asian economies | en |
dc.subject.stw | Währungsunion | en |
dc.subject.stw | Konjunkturzusammenhang | en |
dc.subject.stw | Kosten-Nutzen-Analyse | en |
dc.subject.stw | China | en |
dc.subject.stw | Japan | en |
dc.subject.stw | Südkorea | en |
dc.title | An output perspective on a northeast Asia currency union | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 856739162 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
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