ASEAN diversity, business cycle synchronization, and monetary coordination: Insights from a VECM model of three ASEAN member states
The optimal amount of monetary and exchange rate coordination among ASEAN member economies (AMS), depends, among others, on whether economic shocks are country-specific or common, as well as on the heterogeneity in monetary and exchange rate regimes, across the ASEAN countries. Are the ASEAN economi...
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oai:animorepository.dlsu.edu.ph:faculty_research-115092023-10-14T03:35:19Z ASEAN diversity, business cycle synchronization, and monetary coordination: Insights from a VECM model of three ASEAN member states Chow, Neriza Casas Majuca, Ruperta P. The optimal amount of monetary and exchange rate coordination among ASEAN member economies (AMS), depends, among others, on whether economic shocks are country-specific or common, as well as on the heterogeneity in monetary and exchange rate regimes, across the ASEAN countries. Are the ASEAN economic shocks country-specific or common? Do AMSs adopt similar approaches to macroeconomic management? A vector error correction model (VECM) was estimated to analyze the diversity and similarities in the time series variables and in policy responses in ASEAN economies. The VECM model was estimated for three representative ASEAN economies, namely Singapore for a developed country, Philippines for ASEAN5, and Vietnam for CLMV economies. Important insights on the idiosyncrasies and the commonalities in the macroeconomic dynamics, policy responses, and long-equilibrium relationships across ASEAN were teased out, and questions on the scope for monetary and exchange rate coordination in ASEAN were answered. 2023-10-14T06:57:11Z text https://animorepository.dlsu.edu.ph/faculty_research/11011 Faculty Research Work Animo Repository Foreign exchange rates—Southeast Asia Southeast Asia—Economic conditions Economics |
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Foreign exchange rates—Southeast Asia Southeast Asia—Economic conditions Economics |
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Foreign exchange rates—Southeast Asia Southeast Asia—Economic conditions Economics Chow, Neriza Casas Majuca, Ruperta P. ASEAN diversity, business cycle synchronization, and monetary coordination: Insights from a VECM model of three ASEAN member states |
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The optimal amount of monetary and exchange rate coordination among ASEAN member economies (AMS), depends, among others, on whether economic shocks are country-specific or common, as well as on the heterogeneity in monetary and exchange rate regimes, across the ASEAN countries. Are the ASEAN economic shocks country-specific or common? Do AMSs adopt similar approaches to macroeconomic management? A vector error correction model (VECM) was estimated to analyze the diversity and similarities in the time series variables and in policy responses in ASEAN economies. The VECM model was estimated for three representative ASEAN economies, namely Singapore for a developed country, Philippines for ASEAN5, and Vietnam for CLMV economies. Important insights on the idiosyncrasies and the commonalities in the macroeconomic dynamics, policy responses, and long-equilibrium relationships across ASEAN were teased out, and questions on the scope for monetary and exchange rate coordination in ASEAN were answered. |
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text |
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Chow, Neriza Casas Majuca, Ruperta P. |
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Chow, Neriza Casas Majuca, Ruperta P. |
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Chow, Neriza Casas |
title |
ASEAN diversity, business cycle synchronization, and monetary coordination: Insights from a VECM model of three ASEAN member states |
title_short |
ASEAN diversity, business cycle synchronization, and monetary coordination: Insights from a VECM model of three ASEAN member states |
title_full |
ASEAN diversity, business cycle synchronization, and monetary coordination: Insights from a VECM model of three ASEAN member states |
title_fullStr |
ASEAN diversity, business cycle synchronization, and monetary coordination: Insights from a VECM model of three ASEAN member states |
title_full_unstemmed |
ASEAN diversity, business cycle synchronization, and monetary coordination: Insights from a VECM model of three ASEAN member states |
title_sort |
asean diversity, business cycle synchronization, and monetary coordination: insights from a vecm model of three asean member states |
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Animo Repository |
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2023 |
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https://animorepository.dlsu.edu.ph/faculty_research/11011 |
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