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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Bibliographic Details
Format: eBook
Language:English
Published: Bern Peter Lang International Academic Publishing Group 2018
Series:cege-Schriften
Subjects:
Online Access:Open Access: DOAB: description of the publication
Open Access: DOAB, download the publication
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520 |a 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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653 |a Boards 
653 |a Currency 
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653 |a Currency Crisis 
653 |a Estonia 
653 |a Exchange Rate 
653 |a Foreign-Currency Debt 
653 |a Hong Kong 
653 |a Lithuania 
653 |a Stabilitätspolitik 
653 |a Stability 
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