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Monetary coordination in Northeast Asia : An option for China-Japan-Korea

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Frame of Image ration, Gyeongsang National University, Chinju, Korea (email: cm ahn@gsnu.ac.kr) Professor of Economics, Gyeongsang National University, Chinju, Korea (e-mail: hbkim@nongae. gsnu.ac.kr) Head of International Economics Team, Institute for Monetary & Economic Research, The Bank of Korea (e-mail: dchang@bok.or.kr) The authors wish to thank Dr. Hahm, General Director of Institute for Monetary & Economic Research, for his helpful comments.
<Contents>
Ⅰ. Introduction …………………………………..………………….………...2 Ⅱ. A Common Currency for Northeast Asia?: A Structural VAR Approach ….4
1. Methodology ...…………………………………………………………4 2. Data, Estimation, and Results ...…………………………………………7
Ⅲ. Candidates for an OCA in Northeast Asia?: A Generalized-PPP Approach …………………………………………………………………………...14
1. Methodology ...………………………………………………………..15 2. The Test of Common Trends and an OCA in Northeast Asia ...…………...16
Ⅳ. A Viable Option for Northeast Asia - China, Japan and Korea ...….……..22
1. Regional Inflation Targeting with a Floating Exchange Rate Regime ...…..22 2. A Further Move beyond the Chiang Mai Initiative ...………………….....26
Ⅴ. Conclusion ...……………………………………………………………...29 <References> <Korean Executive Summary>
Monetary Coordination in Northeast Asia: An Option for China-Japan-Korea
This paper attempts to make a contribution to the recent search for a better monetary and exchange-rate arrangement in Northeast Asia. It does so by assessing the feasibility of setting up an optimum currency area (OCA) in the region


Full Text
Title Monetary coordination in Northeast Asia
Similar Titles
Sub Title

An option for China-Japan-Korea

Material Type Reports
Author(English)

Ahn, Changmo; Kim, Hong-Bum; Chang, Dongkoo

Publisher

[Seoul]:The Bank of Korea

Date 2004-09
Pages 34
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Financial Policy
Holding The Bank of Korea; KDI School