International Workshop "Exchange Rate Systems and Currency Markets in Asia"
March 24, 2009
Global COE had held the joint Keio University /ADBI Workshop on Exchange Rate Systems and Currency Markets in Asia on March 24, 2009. The workshop is hosted by Prof. Naoyuki Yoshino at Asian Development Bank Institute, Tokyo. The morning session starts with the work of Prof. Eiji Oawa from Hitotsubashi University discussing about recent movements of the currency basket of ASEAN+3 currencies (Asian Monetary Unit: AMU) and deviations of the East Asian currencies from the AMU (AMU Deviation Indicators). This is followed by the discussion over Renminbi from Ulrich Volz (German Develop Institute) and Guonan Ma and Robert McCauley (Bank of International Settlements). In the afternoon, the presentation on Renminbi continued by Yin-Wong Cheung from Unversity of California, Santa Cruz. Later on, Cho-hoi Hui from Hong Kong Monetary Authority had talked about the analysis of the impact of the global credit crisis on the FX swap market and discusses its potential implications. Following by the presentation from Naoyuki Yoshino (Keio University) and Tamon Asonuma (Boston University) about dynamic adjustment toward stable Basket-Peg regime under two-country general equilibrium model. Lastly the workshop ended with the work from Hyunsoo Joo, Fang Cai and Zhiwei Zhang from Hong Kong Monetary Authority who presented macroeconomics news and emerging market currencies in East Asia at real time.
