In this paper I discuss in what way, if any, the collapse of Argentina's experience with a currency board has affected the policy debate on the appropriate exchange rate regime in emerging and transition countries. More specifically, I deal with three issues: (1) I discuss some important aspects...

In this paper I discuss in what way, if any, the collapse of Argentina's experience with a currency board has affected the policy debate on the appropriate exchange rate regime in emerging and transition countries. More specifically, I deal with three issues: (1) I discuss some important aspects...

This paper empirically analyses discretionary monetary activities in recent currency board-like countries. In contrast to the previous research, it shows that none of the recent currency board-like countries, except for Argentina, was excessively overusing sterilization activities, when these...