期刊名称：Discussion Paper Series / Department of Economics, Monash University
出版年度：2009
卷号：1
出版社：Monash University
摘要：This paper assesses the empirical desirability of the East Asian economies to an
alternative exchange rate arrangement (a monetary union) that can potentially enhance the
exchange rate stability and credibility in the region. Specifically, the symmetry in
macroeconomic disturbances of the East Asian economies is examined as satisfying one of the
preconditions for forming an Optimum Currency Area (OCA). The Structural Vector
Autoregression (VAR) method is employed to assess the nature of macroeconomic disturbances
among the East Asian countries, as a preliminary guide in identifying potential candidates for
forming an OCA. The preliminary findings of this study suggest that there exists scope among
some small sub-regions for potential monetary integration.
关键词：Optimum Currency Area; Monetary Union; Vector autoregression; Exchange rate;
East Asia
