논문KCI 등재
Equilibrium Exchange Rates in Asian Currencies
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Abstract
In this paper, we measured the equilibrium exchange rates (EER) for Asian currencies (baht, new Taiwan dollar, won, yen, and yuan) and the U.S. dollar. We compared the equilibrium exchange rates reflecting economic fundamentals with the actual exchange rate, and examined which factors affect the movement of equilibrium exchange rates. Our study shows that rapid increases of labor productivity in Korea and China have prevented an excessive depreciation of the won and yuan. When we take multilateral trade into account, the effective exchange rate of the yen was undervalued compared with the effective equilibrium exchange rate in 2000.
참고문헌 (9)
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- Kashiwagi, G, "Ajia no kawasereto no kousatsu On Exchange Policies of Asian Countries and Estimation of Equilibrium Rates of Exchange", 53, pp.185~201 (2000)
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- Japan Center for Economic Research, "Sangyokozo kara mita nihonkeizai saisei heno michi (Revitalization of the Japanese Economy from the Industrial Structure)" (2004), Japan Center for Economic Research
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- Yoshikawa,H, "On Equilibrium Yen-Dollar Rate", 80, pp.576~83 (1990)
관련 논문AI추천
DOMESTIC AND FOREIGN CURRENCY-SPECIFIC SHOCKS IN ASIAN FOREIGN EXCHANGE MARKETSKEUN-YEONG LEE한국경제학회 · The Korean Economic Review2002 · 제18권 제1호Exchange Rate Regimes in East Asia After the Crisis: Implications from Intra-Daily DataSanae Ohno, Shin-ichi Fukuda경제연구소 · Seoul Journal of Economics2003 · 제16권 제2호TESTING THE VALIDITY OF PURCHASING POWER PARITY FOR ASIAN COUNTRIES DURING THE CURRENT FLOATSALAHA.NUSAIR경제연구소 · Journal of Economic Development2003 · 제28권 제2호Fear of Inflation: Exchange Rate Pass-Through in East Asia강삼모, 왕윤종한국경제학회 · The Korean Economic Review2004 · 제20권 제1호주가와 환율의 동태분석:아시아 국가들의 경우이근영한국국제경제학회 · 국제경제연구2003 · 제9권 제3호Testing PPP for Asian Countries Using Panel Cointegration심성훈한국아시아학회 · 아시아연구2008 · 제11권 제1호
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