If price decisions are taken neither continuously nor in perfect synchronization, the process of adjustment of all prices to a new nominal level will imply temporary movements in relative prices. It might then well be that, to avoid these movements in relative prices, each price setter will want...

This paper develops the basis for monetary and exchange rate coordination in Asia as part of a package of monetary integration that could support growth and poverty reduction. This could be achieved directly through coordinated exchange rate stabilization, and indirectly through the implications...

This paper develops the basis for monetary and exchange rate coordination in Asia as part of a package of monetary integration that would be aimed at supporting growth and poverty reduction. This could be achieved directly through coordinated exchange rate stabilization, and indirectly through...