The Stability of Currency Boards

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Tác giả: Kai Stukenbrock

Ngôn ngữ: eng

Ký hiệu phân loại:

Thông tin xuất bản: Bern Peter Lang International Academic Publishing Group 2018

Mô tả vật lý: 1 electronic resource (238 p.)

Bộ sưu tập: Tài liệu truy cập mở

ID: 237011

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.
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