Assessing co-ordinated Asian exchange rate regimes

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Title: Assessing co-ordinated Asian exchange rate regimes
Authors: Aggarwal, Raj
Muckley, Cal
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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: AsiaBasket exchange ratesCurrency pegsExchange rate regimes
Subject LCSH: International finance
Foreign exchange--Asia
Foreign exchange rates--Asia
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Language: en
Status of Item: Not peer reviewed
Appears in Collections:Centre for Financial Markets Working Papers

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