Exchange Rates, Currency Crisis and Monetary Cooperation in Asia

1. Front Matter

   Pages i-xix

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2. Exchange Rates and Macroeconomic Consequences

   1. Front Matter

      Pages 1-1

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   2. Managing the Liquidity Effects of Reserve Stockpiling in Emerging Asia

      • Alice Y. Ouyang, Thomas D. Willett

      Pages 3-38

   3. What is the Impact of Exchange Rate Changes on Inflation in Asia?

      • Amit Ghosh

      Pages 39-59

   4. A Closer Examination of Exchange Rate Pass-through in Korea and Thailand

      • Amit Ghosh

      Pages 60-86

3. Impact of Currency Crisis and Monetary Policy

   1. Front Matter

      Pages 87-87

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   2. Are Crisis-Induced Devaluations Contractionary? If so, Why?

      • Shen Chung-Hua

      Pages 89-109

   3. Financial Crisis, Capital Outflows and Monetary Policy Responses: Simple Analytics with Reference to East Asia

      • Ramkishen S. Rajan

      Pages 110-133

   4. Understanding Currency Crises and Monetary Policy Responses in Emerging Economies

      • Makarand Parulkar

      Pages 134-150

   5. How Best to Manage New-Style Currency Crises?

      • Ramkishen S. Rajan

      Pages 151-179

   6. Can High Reserves Offset Weak Fundamentals?

      • Jie Li

      Pages 180-189

4. Monetary and Financial Cooperation in Asia

   1. Front Matter

      Pages 191-191

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   2. Examining the Case for an Asian Reserve Pool

      • Reza Siregar, Graham Bird

      Pages 193-214

   3. Taking Stock of Monetary and Financial Cooperation in Asia

      • Ramkishen S. Rajan

      Pages 215-226

   4. Is There a Role for an Asian Currency Unit?

      • Victor Pontines

      Pages 227-238

5. Back Matter

   Pages 239-242

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This book concentrates on exchange rates and their macroeconomic consequences, analytical and empirical issues relating to currency crises and policy responses and monetary and financial cooperation in Asia. It is truely pan-Asia-focused with chapters on China, Japan, Korea, India and Southeast Asia.

• capital
• evaluation
• Inflation
• macroeconomics
• monetary policy
• banking

'...the volume takes stock of and addresses some of the pertinent issues in international finance and crises in the Asian region.' - Tony Cavoli, ASEAN Economic Bulletin

• School of Public Policy, George Mason University, USA

  Ramkishen S. Rajan

GRAHAM BIRD Professor at the Department of Economics and Director of the Surrey Centre for International Economics Studies (SCIES), University of Surrey, UK AMIT GHOSH Assistant Professor at the Department of Economics, Illinois Wesleyan University, Bloomington, Illinois, USA JIE LI Assistant Professor at the Central University of Finance and Economics, China, and Director, CUFE Research Center for Foreign Reserves, Beijing, China ALICE OUYANG Assistant Professor in China Academy of Public Finance and Public Policy at the Central University of Finance and Economics, Beijing, China MAKARAND PARAULKAR Deputy Chief Operating Officer at Bradford College, The University of Adelaide, Adelaide, Australia VICTOR PONTINES Lecturer of Economics and Public Policy at Carnegie Mellon University and H. John Heinz III School of Public Policy and Management, Adelaide, Australia CHUNG-HUA SHEN Professor at the Department of Finance, National Taiwan University, Taipei, Taiwan REZA SIREGAR International Economic Consultant at the International Monetary Fund Singapore Regional Training Institute, Singapore THOMAS D. WILLETT Director at the Claremont Institute for Economic Policy Studies, USA and Horton Professor, School of Politics and Economics at Claremont Graduate University, Claremont, California, USA

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