Ogawa, Eiji; Shimizu, Junko - Asian Development Bank Institute, Asian Development Bank - 2011
exchange rate policy, Ogawa and Shimizu (2005) proposed both an Asian Monetary Unit (AMU), which is a common currency basket … deviation of each Asian currency in terms of the AMU compared with the benchmark rate. The AMU and the AMU DIs are considered … among Asian countries. In this paper, the authors show that monitoring the AMU and the AMU DIs plays an important role in …