Yen Bloc or Yuan Bloc: An Analysis of Currency Arrangements in East Asia
AbstractThis 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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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 09/3.
Date of creation: 01 Jan 2009
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-01-31 (All new papers)
- NEP-CBA-2009-01-31 (Central Banking)
- NEP-CNA-2009-01-31 (China)
- NEP-IFN-2009-01-31 (International Finance)
- NEP-MON-2009-01-31 (Monetary Economics)
- NEP-OPM-2009-01-31 (Open Economy Macroeconomic)
- NEP-SEA-2009-01-31 (South East Asia)
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- Colavecchio, Roberta & Funke, Michael, 2009.
"Volatility dependence across Asia-Pacific onshore and offshore currency forwards markets,"
Journal of Asian Economics,
Elsevier, vol. 20(2), pages 174-196, March.
- Roberta Colavecchio & Michael Funke, 2009. "Volatility Dependence across Asia-Pacific Onshore and Offshore Currency Forwards Markets," Working Papers 112009, Hong Kong Institute for Monetary Research.
- Michael Funke & Roberta Colavecchio, 2009. "Volatility dependence across Asia-Pacific onshore and offshore currency forwards markets," Quantitative Macroeconomics Working Papers 20903, Hamburg University, Department of Economics.
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