After the Crisis, the East Asian Dollar Standard Resurrected: An Interpretation of High-Frequency Exchange Rate Pegging

Ronald McKinnon

Chapter 2 in Monetary and Financial Management in Asia in the 21st Century, 2002, pp 21-77 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe following sections are included:The Collective Nominal AnchorOptimum Currency Areas Versus the Collective Nominal AnchorA Common Monetary Standard Versus a Common CurrencyExchange Rate Targeting: Yen Versus DollarResurrection: The Return of High-Frequency PeggingThe "Original Sin" Hypothesis and High-Frequency PeggingThe Honeymoon in the Interest Differential: A Simple ModelLengthening the Term Structure of FinanceNew Rules for the Dollar-Standard Game: A Concluding CommentAppendixReferences

Date: 2002
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