Arbeitspapier
Optimal dynamic path during the transition of exchange rate regime: Analysis of the People's Republic of China (PRC), Malaysia, and Singapore
This paper considers the optimal exchange rate regime transition policy for three East Asian countries: the People's Republic of China (PRC), Malaysia, and Singapore. In contrast to two traditional approaches to exchange rate regimes in East Asia, the paper conducts a dynamic transition analysis. Based on a small, open-economy dynamic stochastic general equilibrium model applied to these three countries, we define transition policies from a dollar peg regime to either a basket peg or a floating regime and compare the welfare gains of these policies relative to maintaining the current dollar peg regime. The quantitative analysis using PRC, Malaysian, and Singaporean data shows that the PRC would be better off shifting gradually from a dollar peg to a basket peg. In response to the PRC's shift, both Malaysia and Singapore would opt to shift gradually to a basket peg regime.
- Sprache
-
Englisch
- Erschienen in
-
Series: ADBI Working Paper ; No. 765
- Klassifikation
-
Wirtschaft
International Monetary Arrangements and Institutions
Open Economy Macroeconomics
International Policy Coordination and Transmission
- Thema
-
Economics
China
People's Republic of
Malaysia
Singapore
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Yoshino, Naoyuki
Asonuma, Tamon
- Ereignis
-
Veröffentlichung
- (wer)
-
Asian Development Bank Institute (ADBI)
- (wo)
-
Tokyo
- (wann)
-
2017
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Yoshino, Naoyuki
- Asonuma, Tamon
- Asian Development Bank Institute (ADBI)
Entstanden
- 2017
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