2011 Fiscal Year Final Research Report
A Model of Currency Integration with a Banking Sector
| Project/Area Number |
22830108
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| Research Category |
Grant-in-Aid for Research Activity Start-up
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| Allocation Type | Single-year Grants |
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| Research Field |
Public finance/Monetary economics
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| Research Institution | Nanzan University |
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Principal Investigator |
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| Project Period (FY) |
2010 – 2011
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| Keywords | 国際金融 / 為替相場制度選択 |
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| Research Abstract |
I investigated the welfare implications of monetary arrangements in ASEAN countries with a small open economy model, considering the effects of interest rate spread shocks. Further, I examined ASEAN countries and found that, in my baseline investigation, prevailing choices of exchange rate arrangements in ASEAN countries were consistent with my welfare criterion. I also found that higher trade openness and lower persistence of the domestic productivity shock improved the advantage of the fixed exchange rate arrangements.
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