|aMonetary and currency policy management in Asia /|cedited by Masahiro Kawai, Peter J. Morgan, Shinji Takagi.
|aCheltenham, U.K. :|bEdward Elgar,|c2012.
|axiv, 302 p. :|bill. ;|c24 cm.
|aIncludes bibliographical references and index.
|aPt. 1. Monetary policy issues -- pt. 2. Exchange rate policy and reserve management issues -- pt. 3. Recommendations related to the 'impossible trinity' -- pt. 4. Impacts on Asia of the global financial crisis and policy responses -- pt. 5. Regional cooperation issues.
|aThis book makes concrete macroeconomic policy recommendations for Asian economies aimed at minimizing the impacts of an economic and financial downturn, and setting the stage for an early return to sustainable growth. The focus is on short-term measures related to the cycle. The three main areas addressed are: monetary policy measures to achieve both macroeconomic and financial stability; exchange rate policy and foreign exchange reserve management, including the potential for regional exchange rate cooperation; and ways to ease the constraints on policy resulting from the so-called 'impossible trinity' of fixed exchange rates, open capital accounts and independent monetary policy.