Is a monetary union feasible for East Asia?
Zhang Z.; Sato K.; McAleer M.
Source PublicationApplied Economics
AbstractThe empirical suitability of the East Asian economies for potential monetary integration is assessed. The structural vector autoregression (VAR) method is employed to identify the underlying shocks using a three-variable VAR model across the East Asian economies. The estimates of the EEC are used as a benchmark to compare the size of the underlying shocks and the speed of adjustment to shocks in both regions to determine the feasibility of forming an optimum currency area (OCA) in East Asia. The empirical results do not display strong support for forming an OCA in the East Asian region. The results do imply, however, that some small subregions are potential candidates for OCAs, since their disturbances are correlated and small and these economies adjust rapidly to shocks. © 2004 Taylor and Francis Ltd.
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Cited Times [WOS]:43   [WOS Record]     [Related Records in WOS]
Document TypeJournal article
CollectionUniversity of Macau
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GB/T 7714
Zhang Z.,Sato K.,McAleer M.. Is a monetary union feasible for East Asia?[J]. Applied Economics,2004,36(10):1031.
APA Zhang Z.,Sato K.,&McAleer M..(2004).Is a monetary union feasible for East Asia?.Applied Economics,36(10),1031.
MLA Zhang Z.,et al."Is a monetary union feasible for East Asia?".Applied Economics 36.10(2004):1031.
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