Assessing co-ordinated Asian exchange rate regimes
|Title:||Assessing co-ordinated Asian exchange rate regimes||Authors:||Aggarwal, Raj
|Permanent link:||http://hdl.handle.net/10197/2567||Date:||Jan-2010||Online since:||2010-11-22T14:27:32Z||Abstract:||This study assesses prospective Asian exchange rate regimes and finds short- and longrun currency dynamics more conducive to the introduction of a common peg based on a basket of the European euro, the United States dollar and the Japanese yen than the alternative of a United States dollar peg exchange rate regime. Exchange rate systems of 3- 4- and 5- Asian currencies are considered and the dynamics in a set of four European currencies prior to the introduction of the Euro provides benchmark evidence. The evidence for an Asian basket peg exchange rate regime is strengthened when, unlike prior studies, estimates of the long-run parameters account for time-varying volatility effects.||Funding Details:||Not applicable||Type of material:||Working Paper||Publisher:||University College Dublin. School of Business. Centre for Financial Markets||Series/Report no.:||Centre for Financial Markets working paper series; WP-09-01||Keywords:||Asia; Basket exchange rates; Currency pegs; Exchange rate regimes||Subject LCSH:||International finance
Foreign exchange rates--Asia
|Other versions:||http://www.ucd.ie/bankingfinance/docs/wp/WP-09-01.pdf||Language:||en||Status of Item:||Not peer reviewed|
|Appears in Collections:||Centre for Financial Markets Working Papers|
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