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Currency boards, dollarized liabilities, and monetary policy credibility

Valderrama, Diego; Spiegel, Mark M. - Federal Reserve Bank of San Francisco - 2003

The recent collapse of the Argentine currency board raises new questions about the desirability of formal fixed exchange rate regimes in modern developing economies. This paper examines the impact of dollarized liabilities with potential default for a currency board with costly abandonment. We...

Persistent link: https://www.econbiz.de/10010702238