Exchange Rate Arrangements and Monetary Autonomy in Fourteen Selected Asian and Pacific Countries
AbstractApplying the autoregressive distributed lag model, this paper examines whether different exchange rate arrangements may affect monetary autonomy. In the short run, all the countries have moderate or significant monetary autonomy due to partial or small adjustments. In the long run, Hong Kong, New Zealand, the Philippines and Thailand make full or large adjustments whereas Australia, Bangladesh, China, India, Indonesia, Japan, Korea, Malaysia, Singapore and Taiwan continue to possess moderate or significant monetary autonomy.
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Bibliographic InfoArticle provided by AccessEcon in its journal Economics Bulletin.
Volume (Year): 32 (2012)
Issue (Month): 2 ()
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exchange rate regimes; monetary autonomy; ADL model; trilemma;
Find related papers by JEL classification:
- F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
- E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Hiroyuki Taguchi, 2009. "Currency Regime and Monetary Autonomy," Finance Working Papers 23076, East Asian Bureau of Economic Research.
- Kim, Soyoung & Yang, Doo Yong, 2009. "International Monetary Transmission and Exchange Rate Regimes: Floaters vs. Non-Floaters," ADBI Working Papers 181, Asian Development Bank Institute.
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