The Stability of Currency Boards

The 1990s saw a revival of the currency board system, and proponents have advocated it as an easy-to-set-up exchange rate arrangement providing effective stabilization of the economy. However, the experience of Argentina has highlighted the risks of having a currency board. This study presents both...

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Bibliografische gegevens
Hoofdauteur: Stukenbrock, Kai (auth)
Formaat: Elektronisch Hoofdstuk
Taal:Engels
Gepubliceerd in: Bern Peter Lang International Academic Publishing Group 2018
Reeks:cege-Schriften
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Samenvatting:The 1990s saw a revival of the currency board system, and proponents have advocated it as an easy-to-set-up exchange rate arrangement providing effective stabilization of the economy. However, the experience of Argentina has highlighted the risks of having a currency board. This study presents both the potential benefits, as well as the risks, of having a currency board by examining the stability of the currency board arrangement and identifying factors affecting the stability. The analysis is based on second-generation currency crisis models, extended to incorporate currency-board specific features and to account for particular aspects often found in currency-board economies.
Fysieke beschrijving:1 electronic resource (238 p.)
ISBN:b14167
9783631756997
Toegang:Open Access