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Identifier to cite or link to this item: https://hdl.handle.net/10086/13987

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Title
Policy Coordination in East Asia and across the Pacific
Creator
Creator Name
Kamada, Koichiro Kamada, Koichiro
鎌田, 康一郎 鎌田, 康一郎
カマダ, コウイチロウ カマダ, コウイチロウ
Affiliation
Affiliation Name
Bank of Japan
Creator Name
Takagawa, Izumi Takagawa, Izumi
高川, 泉 高川, 泉
タカガワ, イズミ タカガワ, イズミ
Affiliation
Affiliation Name
Bank of Japan
Editor
Contributor Name
社会科学における統計分析拠点構築 = Research Unit for Statistical Analysis in Social Sciences
Abstract
In this paper, we construct a macro-econometric model that describes the economic activity in the Asia-Pacific area and provide quantitative insights into the recent policy debates on monetary and currency coordination among the East Asian economies. The model includes a wide variety of monetary and currency policy rules that the East Asian economies adopt and allows for one country's policymaking to have substantial effects on foreign countries. We apply the model to three current policy issues: (1) the desirability of currency basket pegs in East Asia, (2) the anticipated effects of China's currency policy reform, and (3) the non-negativity constraint on Japanese nominal interest rates. The simulation analyses show the external economy effects of policy rules quantitatively and suggest the difficulty of monetary and currency policy coordination among the East Asian economies.
Publisher
Institute of Economic Research, Hitotsubashi University
Issued Date
2005-06
Language
English(eng)
Resource Type
technical report
Version Type
VoR
Is Part OfRelation -
Related Title
Hi-Stat Discussion paper series ; No. d05-101
Relation
Related Identifier
URI
  http://21coe.ier.hit-u.ac.jp/english/index.html
Number of Pages
41
Sponsorship
21世紀COEプログラム = 21st-Century COE Program
Appears in Collections
Hi-Stat Discussion paper series
URL
https://hdl.handle.net/10086/13987