Optimal common currency basket in East Asia

Victor Pontines ()

Applied Economics Letters, 2009, vol. 16, issue 11, pages 1139-1141

Abstract: This article employs the currency invariant index due to Hovanov et al. (2004) to construct an optimal or stable common G-3 currency basket across different groups of countries in East Asia. Calculated optimal weights show a larger weight for the US dollar but a nonnegligible role for the Japanese yen. The volatility of the optimal common G-3 currency basket is several times smaller than that of a similarly proposed common G-3 currency basket in East Asia.

Date: 2009

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