عنوان

Exchange rates under the East Asian dollar standard :

(Number (ISBN

026227955X

(Number (ISBN

1423729986

(Number (ISBN

9780262279550

(Number (ISBN

9781423729983

Number

b723011

Title Proper

Exchange rates under the East Asian dollar standard :

General Material Designation

[Book]

Other Title Information

living with conflicted virtue /

First Statement of Responsibility

Ronald I. McKinnon.

Place of Publication, Distribution, etc.

Cambridge, MA :

Name of Publisher, Distributor, etc.

MIT Press,

Date of Publication, Distribution, etc.

2005.

Specific Material Designation and Extent of Item

1 online resource (x, 279 pages) :

Other Physical Details

illustrations

Text of Note

Includes bibliographical references and index.

Text of Note

The increasingly integrated economies of East Asia--China, Hong Kong, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, and Thailand--face the dilemma of how to achieve exchange-rate security in the absence of a unifying "Asian euro." The US dollar has become the region's dominant intraregional trading currency as well as the monetary anchor to which East Asian economies informally peg their currencies. In this timely and original analysis of the benefits and risks of an East Asian dollar standard, Ronald McKinnon takes issue with the conventional view that urges flexible exchange rates on financially fragile economies. He argues instead that East Asian countries should coordinate their policies to keep their exchange rates stable against the dollar. McKinnon develops a conceptual framework to show where the conventional wisdom on exchange rates has gone wrong. Pressure on the "virtuous" high-saving dollar-creditor East Asian nations to appreciate their currencies leads to a "conflicted" choice between a possible deflationary slump if they do appreciate and threatened trade sanctions if they do not. Analyzing interactions among the East Asian economies, McKinnon explains the rationale, and the need, for greater exchange-rate security in the region, pointing to the soft-dollar pegs adopted by these nations as steps in the right direction. He suggests that the dollar standard in East Asia could be rationalized through collective action by national governments and considers the effect of American monetary and trade policies on the East Asian economy.

Source for Acquisition/Subscription Address

MIT Press

Source for Acquisition/Subscription Address

MIT Press

Stock Number

2901

Stock Number

9780262279550

Title

Exchange rates under the East Asian dollar standard.

International Standard Book Number

0262134519

Foreign exchange rates-- East Asia.

Monetary policy-- East Asia.

BUSINESS & ECONOMICS-- Foreign Exchange.

Foreign exchange rates.

Monetary policy.

East Asia.

7

BUS-- 028000

Number

Edition

Class number

Book number

McKinnon, Ronald I.

Date of Transaction

20201208181903.0

Cataloguing Rules (Descriptive Conventions))

pn

Electronic name

[Book]

Y