东亚地区共同的货币篮子计值债券的利弊分析，Trade-off for common currency basket denominated bonds in East Asia ，Eiji Ogawa and Junko Shimizuby 发表于December 2003，Abstract：This paper is to investigate advantages and disadvantages of common currency basket denominated bonds over international currency denominated ones in terms of both foreign exchange risks and liquidity. Our empirical analysis obtained the following results: (i) the currency basket denominated bonds would be able to decrease foreign exchange risks in both borrowing and investment sides; (ii) the US dollar has the highest degree of liquidity for all of the nine East Asian currencies; (iii) both investors and bond issuers face trade-off between foreign exchange risks and liquidity.