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Exchange Rate Arrangements and Monetary Autonomy in Fourteen Selected Asian and Pacific Countries

Author

Listed:
  • Yu Hsing

    () (Southeastern Louisiana University)

Abstract

Applying 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.

Suggested Citation

  • Yu Hsing, 2012. "Exchange Rate Arrangements and Monetary Autonomy in Fourteen Selected Asian and Pacific Countries," Economics Bulletin, AccessEcon, vol. 32(2), pages 1731-1736.
  • Handle: RePEc:ebl:ecbull:eb-12-00365
    as

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    File URL: http://www.accessecon.com/Pubs/EB/2012/Volume32/EB-12-V32-I2-P167.pdf
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    References listed on IDEAS

    as
    1. 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.
    2. Hiroyuki Taguchi, 2009. "Currency Regime and Monetary Autonomy," Finance Working Papers 23076, East Asian Bureau of Economic Research.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    exchange rate regimes; monetary autonomy; ADL model; trilemma;

    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

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