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Southeast Asian monetary integration: a real options perspective

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  • Frank Strobel

Abstract

We examine the real option implicit in countries' decisions of whether to join a monetary union and calibrate our theoretical model for the core ASEAN/AFTA group of Indonesia, Malaysia, Philippines, Singapore and Thailand. None of the countries would be prepared to join a monetary union amongst them at present, and most have low to negligible probabilities of ever wanting to do so.

Suggested Citation

  • Frank Strobel, 2007. "Southeast Asian monetary integration: a real options perspective," Applied Economics, Taylor & Francis Journals, vol. 39(6), pages 759-763.
    • Handle: RePEc:taf:applec:v:39:y:2007:i:6:p:759-763
    DOI: 10.1080/00036840500428005
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    References listed on IDEAS

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    1. Barro, Robert J. & Gordon, David B., 1983. "Rules, discretion and reputation in a model of monetary policy," Journal of Monetary Economics, Elsevier, vol. 12(1), pages 101-121.
    2. Strobel, Frank, 2005. "Monetary integration and inflation preferences: A real options analysis," European Economic Review, Elsevier, vol. 49(4), pages 845-860, May.
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