Download or read book Is Currency Union a Feasible Option in East Asia? written by Feng Guo and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates empirically the feasibility of creating a currency union in East Asia following closer monetary cooperations in recent years. Relying on a four-variable structural VAR model, we identify various types of shocks in nine East Asian economies, with nine European Monetary Union countries adopted as benchmarks. The analysis of structural disturbances suggests that it may be beneficial for Hong Kong, Indonesia, Korea, Malaysia, Singapore and Thailand to take the lead in endorsing and fostering a common currency zone.