This paper is concentrated on the comparative macroeconomic analysis of the differences stemming from the extent to which the institutional framework of the currency board arrangement is implemented in the legal and regulatory systems in the different countries. The main objective of taking into...

This paper provides new evidence on the relative effectiveness of formal monetary institutions in achieving price stability. The institutions considered are, specifically, central bank independence (CBI), inflation targeting (IT), currency boards (CB) and monetary unions (MU). An empirical...