IS INTERNATIONAL MONETARY POLICY COORDINATION FEASIBLE FOR THE ASEAN-5 + 3 COUNTRIES?

Eric Alexander Sugandi ()
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Eric Alexander Sugandi: Asian Development Bank Institute

Bulletin of Monetary Economics and Banking, 2022, vol. 25, issue 4, 531-574

Abstract: We examine the feasibility of international monetary policy coordination among the ASEAN-5 + 3 countries using the two-production-factor Dynamic Stochastic General Equilibrium (DGSE) models. It explores three types of interaction regimes among these countries: (1) No Coordination; (2) Bilateral Coordination; and (3) Multilateral Coordination. We find 18 feasible Bilateral Coordination schemes and four feasible Multilateral Coordination schemes for the ASEAN-5 + 3 countries. The best among these schemes is the Multilateral Coordination scheme that involves all the -5 + 3 countries. Therefore, we suggest that the ASEAN-5 + 3 countries should adopt this scheme if coordinating monetary policies

Keywords: International monetary policy coordination; Open economy macroeconomics (search for similar items in EconPapers)
JEL-codes: F41 F42 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:idn:journl:v:25:y:2022:i:4b:p:531-574

DOI: 10.21098/bemp.v25i4.1444

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