{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,1,25]],"date-time":"2026-01-25T11:48:32Z","timestamp":1769341712203,"version":"3.49.0"},"reference-count":30,"publisher":"World Scientific Pub Co Pte Ltd","issue":"04","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Singapore Econ. Rev."],"published-print":{"date-parts":[[2009,12]]},"abstract":"<jats:p>This paper investigates, for the first time, the degree of exchange rate pass-through to domestic prices in all five founding members of ASEAN. For this purpose, a three-variable-recursive VAR model was applied that uses the Choleski decomposition method along the distribution chain of pricing, using data for the period 1968 to 2001.<\/jats:p><jats:p>The results show that a strong case for entering a currency union can be made for the cases of Singapore, Malaysia and Thailand, as in these countries there appears to be the case of exchange rate disconnect. A case for common currency can also be made for Indonesia but for entirely different reasons. For this country, an independent monetary policy is a clear source of shock to the economy and therefore a currency union would tend to eliminate them. Finally, a weaker case for a common currency can be made for the Philippines as evidence of some exchange rate pass-through to inflation was found but not to import prices.<\/jats:p>","DOI":"10.1142\/s0217590809003458","type":"journal-article","created":{"date-parts":[[2010,1,20]],"date-time":"2010-01-20T11:37:36Z","timestamp":1263987456000},"page":"657-687","source":"Crossref","is-referenced-by-count":9,"title":["EXCHANGE RATE PASS-THROUGH IN ASEAN: IMPLICATIONS FOR THE PROSPECTS OF MONETARY INTEGRATION IN THE REGION"],"prefix":"10.1142","volume":"54","author":[{"given":"CARLOS","family":"CORTINHAS","sequence":"first","affiliation":[{"name":"Department of Economics, The University of Exeter Business School and The Economic Policies Research Unit (NIPE), Portugal"}]}],"member":"219","published-online":{"date-parts":[[2011,11,21]]},"reference":[{"key":"rf2","doi-asserted-by":"publisher","DOI":"10.1016\/j.jimonfin.2006.07.003"},{"key":"rf3","volume":"309","author":"Bache I.","journal-title":"Computing in Economics and Finance 2006"},{"key":"rf4","doi-asserted-by":"publisher","DOI":"10.1016\/j.econmod.2006.04.006"},{"key":"rf7","doi-asserted-by":"publisher","DOI":"10.1006\/jjie.2000.0446"},{"key":"rf8","doi-asserted-by":"publisher","DOI":"10.1111\/1467-9701.00390"},{"key":"rf10","doi-asserted-by":"publisher","DOI":"10.1111\/1467-9485.00161"},{"key":"rf11","first-page":"379","volume":"17","author":"Calvo G.","journal-title":"Quarterly Journal of Economics"},{"key":"rf12","doi-asserted-by":"publisher","DOI":"10.1162\/003465305775098189"},{"key":"rf13","first-page":"349","author":"Choudri E.","journal-title":"Journal of International Economics"},{"key":"rf14","doi-asserted-by":"publisher","DOI":"10.1016\/j.jimonfin.2005.11.009"},{"key":"rf15","doi-asserted-by":"publisher","DOI":"10.1111\/1467-937X.00266"},{"key":"rf16","first-page":"21","volume":"90","author":"Duarte M.","journal-title":"Federal Reserve Bank of Richmond Economic Quarterly"},{"key":"rf17","doi-asserted-by":"publisher","DOI":"10.1016\/j.jimonfin.2008.04.007"},{"key":"rf18","doi-asserted-by":"publisher","DOI":"10.1006\/jjie.1997.0388"},{"key":"rf19","doi-asserted-by":"publisher","DOI":"10.1016\/S0014-2921(97)00034-2"},{"key":"rf20","doi-asserted-by":"publisher","DOI":"10.1111\/1468-0297.00327"},{"key":"rf21","doi-asserted-by":"publisher","DOI":"10.1002\/ijfe.253"},{"key":"rf22","first-page":"1243","volume":"35","author":"Goldberg P.","journal-title":"Journal of Economic Literature"},{"key":"rf24","doi-asserted-by":"crossref","DOI":"10.1515\/9780691218632","volume-title":"Time series analysis","author":"Hamilton J.","year":"1994"},{"key":"rf25","doi-asserted-by":"publisher","DOI":"10.1111\/j.1538-4616.2008.00165.x"},{"key":"rf27","doi-asserted-by":"publisher","DOI":"10.1057\/eej.2007.38"},{"key":"rf28","doi-asserted-by":"publisher","DOI":"10.1111\/j.1467-6419.1995.tb00114.x"},{"key":"rf29","first-page":"346","volume":"4","author":"Mihailov A.","journal-title":"International Journal of Finance and Economics"},{"key":"rf30","volume-title":"Essays in Honor of Guillermo Calvo","author":"Obstfeld M.","year":"2008"},{"key":"rf32","doi-asserted-by":"publisher","DOI":"10.1016\/0022-1996(94)01354-U"},{"key":"rf33","doi-asserted-by":"publisher","DOI":"10.1353\/mcb.2002.0058"},{"key":"rf34","doi-asserted-by":"publisher","DOI":"10.1016\/S0014-2921(00)00037-4"},{"key":"rf35","doi-asserted-by":"publisher","DOI":"10.1142\/S0217590801000358"},{"key":"rf36","doi-asserted-by":"publisher","DOI":"10.1111\/1467-8381.00087"},{"key":"rf39","doi-asserted-by":"publisher","DOI":"10.1080\/0003684042000246740"}],"container-title":["The Singapore Economic Review"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/www.worldscientific.com\/doi\/pdf\/10.1142\/S0217590809003458","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2021,10,20]],"date-time":"2021-10-20T14:39:58Z","timestamp":1634740798000},"score":1,"resource":{"primary":{"URL":"https:\/\/www.worldscientific.com\/doi\/abs\/10.1142\/S0217590809003458"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2009,12]]},"references-count":30,"journal-issue":{"issue":"04","published-online":{"date-parts":[[2011,11,21]]},"published-print":{"date-parts":[[2009,12]]}},"alternative-id":["10.1142\/S0217590809003458"],"URL":"https:\/\/doi.org\/10.1142\/s0217590809003458","relation":{},"ISSN":["0217-5908","1793-6837"],"issn-type":[{"value":"0217-5908","type":"print"},{"value":"1793-6837","type":"electronic"}],"subject":[],"published":{"date-parts":[[2009,12]]}}}