亚洲货币单位及其偏离指标对东亚汇率协调的启示  

The Revelation of Asian Monetary Unit and Its Deviation Indicators on the Coordination of East Asia Currencies

作　　者：胡再勇[1] 

机构地区：[1]外交学院国际经济学院,北京100037

出　　处：《南方金融》2013年第2期52-57,共6页South China Finance

基　　金：教育部人文社会科学研究青年基金项目<人民币汇率的决定模型及变化趋势研究>(项目编号:10YJC790088);中央高校基本科研业务费专项资金项目<人民币汇率双向非对称性波动:根源及经济影响>(项目编号:ZY2011E01);<人民币与国际汇率协调机制问题研究>(项目编号:ZY2012E02)的阶段性成果

摘　　要：本文分析了亚洲货币单位(AMU)和亚洲货币单位偏离指标(AMUDI)的编制目的、计算方法、以及两者的扩展和缺陷,研究发现,AMU、AMUDI和东亚大部分国家的名义有效汇率(NEER)间都存在显著相关关系,表明这些东亚国家通过监控AMU和AMUDI,可以有效地稳定NEER,进一步模拟"东盟+3"国家货币共同盯住AMU,发现共同盯住AMU都能更有效地稳定各国货币的贸易加权汇率。在当前东亚各国缺乏汇率协调的政治意愿的情况下,可以先基于AMU和AMUDI监控指标建立"10+3"框架内的多边汇率政策对话机制,在汇率协调的政治意愿逐渐得到满足的情况下,然后进一步探讨东亚汇率协调相关问题。This paper analyzes the denomination, method, extension and drawbacks of Asian Monetary Unit （ AMU ） and Asian Monetary Unit Deviation Indicators （ AMUDI ） . The empirical study shows that there are significant correlations between the AMU, AMUDI and NEER of East Asian currencies, this means that through monitoring AMU and AMUDI will effective to stabilize NEER of East Asian currencies. By the further simulation of the East Asian currencies peg on AMU in common, it is shows that the peg on AMU in common are more helpful to upholding the stabilization of weighted exchange rate of East Asian currencies. Under the current conditions that the East Asia countries lack political will on East Asia exchange rate coordination, the East Asia countries can establish multilateral exchange rate policy dialogue mechanism within the ＂10＋3＂ framework based on the monitoring indicators of AMU and AMUDI, as the political will of exchange rate coordination gradually be satisfied, the East Asia countries can discuss the problems of exchange rate coordination.

关 键 词：亚洲货币单位 亚洲货币单位偏离指标 名义有效汇率 汇率协调 

分 类 号：F833[经济管理—金融学]