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1 online resource (34 pages) |
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text txt rdacontent |
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computer c rdamedia |
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online resource cr rdacarrier |
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IMF Working Papers |
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IMF Working Papers
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Intro -- Contents -- I. Introduction -- II. Economic Trend in East Asia: 1990-2003 -- III. Gravity Model -- A. Theory -- B. Empirical Specification -- IV. The Effects of Common Currencies -- A. Data -- B. Estimation Results -- V. Yen Zone and Dollar Zone Revisited -- A. Japan's Regional Economic Cooperation -- B. Bilateral and Multilateral Currency Unions -- VI. Yen Bloc or Yuan Bloc -- A. Common Currency Arrangements in East Asia -- B. Sub-Regional Currency Unions -- C. Impact on the United States -- VII. Conclusion -- References -- Tables -- 1. The Growth Rate of Per Capita Income, 1990-2003 Average -- 2. Japan's Trade Partners -- 3. Gravity Model Estimation Results -- 4. Robustness Check -- 5. Bilateral Arrangements vs. Regional Arrangements -- 6. Common Currency Arrangements in East Asia - Trade Effects -- 7. Common Currency Arrangements in East Asia - Welfare Effects -- 8. Common Currency Arrangements with Australia and New Zealand-Trade Effects -- 9. Common Currency Arrangements with Australia and New Zealand-Welfare Effects -- 10. Impact on the United States -- Figures -- 11. Share of Regional Trade -- 12. Trade Share of Japan and the U.S -- 13. Trade Effects of Common Currency -- 14. Welfare Effects of Common Currency -- 15. Trade Effects of Currency Unions -- 16. Welfare Effects of Currency Unions -- Appendix Figures -- A1. Imports from Germany to France -- A2. Imports from Netherlands to Austria |
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This paper examines the role of Japan against that of China in the exchange rate regime in East Asia in light of growing interest in forming a currency union in the region. The analysis suggests that currency unions with China tend to generate higher average welfare gains for East Asian countries than currency unions with Japan or the United States. Overall, Japan does not appear to be a dominant player in forming a currency union in East Asia, and this trend is likely to continue if China's relative presence continues to rise in the regional trade |
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Description based on publisher supplied metadata and other sources |
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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2020. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries |
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Print version: Shirono, Kazuko Yen Bloc or Yuan Bloc : An Analysis of Currency Arrangements in East Asia
Washington : International Monetary Fund,c2009 9781451871500
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Money -- East Asia.;Monetary policy -- East Asia
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Electronic books
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