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In this paper I discuss in what way, if any, the collapse of Argentina's experience with a currency board has affected …
Persistent link: https://www.econbiz.de/10012469452
patterns and determinants of the currency risk premium in two currency boards -- Argentina and Hong Kong. Despite the presumed …
Persistent link: https://www.econbiz.de/10012469666
Argentina (until 2001), Eastern Europe, and Asia. An index of precommitment is derived from an analysis of legislative …
Persistent link: https://www.econbiz.de/10012783101
Persistent link: https://www.econbiz.de/10004907962
The paper revisits the economic implications of currency boards discussed in the literature in light of the recent Argentinean experience with the Convertibility Plan. It finds that, while the plan was successful in bringing down inflation, it has done so at the expense of greater output...
Persistent link: https://www.econbiz.de/10014215054
This paper surveys the institutional and operational features of the six modern currency boards. The survey is developed around three key aspects: organisation, operations and legal foundation. By laying out the facts, this survey seeks to shed light on how and why modern currency boards in...
Persistent link: https://www.econbiz.de/10014061396
In 2002, Argentina was hit by a very severe economic crisis. This crisis was a result of the unsustainability of its … vulnerability of its banking system. Unlike Argentina, Bulgaria has an exit strategy; its accession to the European Union. The …
Persistent link: https://www.econbiz.de/10014068417
Two basic views can be discerned in post-mortems of Argentina's currency board: (1) that weak fiscal policy was … after 1998. It also understates the amount of adjustment required for Argentina to reach the equilibrium rate, because … neighbour countries' dollar exchange rates were held up by Argentina's overvaluation, as is indicated by their depreciation in …
Persistent link: https://www.econbiz.de/10014071987
This paper sheds light on the risks associated with currency board arrangements, referring to the severe liquidity … crisis that emerged in Argentina in November 2000. The inability of the Argentinean economy to grow because of an overvalued … liability side, Argentina had arguably little choice but to stick to the currency board. A series of measures aimed at reviving …
Persistent link: https://www.econbiz.de/10014071988
patterns and determinants of the currency risk premium in two currency boards - Argentina and Hong Kong. Despite the presumed …
Persistent link: https://www.econbiz.de/10014096002