This research aims to analyze the feasibility of implementing single currency policy in ASEAN+3 countries such as Indonesia, Singapore, Malaysia, Thailand, Philippines, Myanmar, Laos, Cambodia, Brunei Darussalam, Vietnam, China, South Korea, and Japan based on annual data from 1993 to 2017. In...

This working paper was written by Yin-wong Cheung (University of California, Santa Cruz) and Jude Yuen (University of California, Santa Cruz).The study assesses the level of integration among the three Greater China economies (namely China, Hong Kong, and Taiwan) and examines the suitability of...

The aim of this paper is to investigate business cycle synchronization between seven candidate countries to the Euro Area (EA) - Bulgaria, Czech Republic, Croatia, Hungary, Poland, Romania and Sweden - and the Euro Area (EA-12/EA-19), France and Germany. The Hodrick-Prescott filter is used to...

The United States is often taken to be the exemplar of the benefits of a monetary union. Since 1788 Americans, with the exception of the Civil War years, have been able to buy and sell goods, travel, and invest within a vast area without ever having to be concerned about changes in exchange...

Unilateral euroization by developing economies is underexplored even in comparison to unilateral dollarization (taken to mean the adoption of the US dollar as legal tender). This paper attempts to help fill this gap in the literature by investigating the case of Montenegro, which is one of the...

The main goal of this paper is to estimate to what extent the federal government of the United States insures member states against regional income shocks. We find that a one dollar reduction in a region's per capita personal income triggers a decrease in federal taxes of about 34 cents and an...