Is a monetary union feasible for East Asia?
Is a monetary union feasible for East Asia?
复制标题
东亚货币联盟可行吗？
DOI：
10.1080/0003684042000246740
复制
发表时间：
2004
影响因子：
2.2
通讯作者：
M. McAleer
中科院分区：
文献类型：
--
作者：
Zhaoyong Zhang *;Kiyotaka Sato;M. McAleer
东亚经济体的潜在货币一体化的经验适合性进行评估。采用结构向量自回归（VAR）方法，使用三变量VAR模型识别东亚经济体的潜在冲击。以欧共体的估计为基准，比较两个地区潜在冲击的大小和对冲击的调整速度，以确定在东亚形成最优货币区（OCA）的可行性。实证结果并不支持在东亚地区形成OCA。然而，这些结果确实意味着，一些小的次区域是OCA的潜在候选者，因为它们的干扰是相关的，而且很小，这些经济体对冲击的调整很快。
The 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.