NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Stabilization of Effective Exchange Rates Under Common Currency Basket Systems

Eiji Ogawa, Junko Shimizu

NBER Working Paper No. 12198
Issued in May 2006

---- Acknowledgements -----

This paper is forthcoming in the Journal of the Japanese and International Economies and it was presented at the 18th Annual TRIO Conference (supported by NBER-TCER-CEPR-CIRJE) held at University of Tokyo on December 9-10, 2005. The authors are grateful to Taizo Motonishi, Mark Spiegel, and participants for their useful suggestion and discussion. The authors are thanks to Takatoshi Ito, John Williamson, Jae-Ha Park and participants in at the International Workshops of RIETI on October 31, 2005 for their useful comments, too. Ogawa: Corresponding author. Graduate School of Commerce and Management, Hitotsubashi University. 2-1 Naka, Kunitachi, Tokyo 186-8601, Japan, Tel: 81-42-580-8859, Fax: 81-42-580-8747, E-mail address: ogawa.eiji@srv.cc.hit-u.ac.jp. Shimizu: Faculty of Economics, Meikai University.

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