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the role of fluctuations in premia in the propagation of other shocks. We calibrate our model on Argentina. The framework …
Persistent link: https://www.econbiz.de/10014399592
Cambodia became dollarized suddenly in the early 1990s, as a result of massive dollar inflows stemming from a postconflict situation. Considering that the amount of dollars in circulation is unusually high, we attempt to estimate the true degree of dollarization empirically. Our results show...
Persistent link: https://www.econbiz.de/10014399652
In this paper we first explain why most microstates (countries with less than 2 million inhabitants) have gained independence only in the last 30 years. Despite the higher costs and risks microstates face, their ability to better accommodate local preferences combined with a more integrated...
Persistent link: https://www.econbiz.de/10014404322
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historical experience, economic theory, cross-country empirical analysis, and case studies of currency boards in Argentina …
Persistent link: https://www.econbiz.de/10003503129
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The "Argentine disappointment"—why Argentina persistently failed to achieve sustained economic stability during the … solutions that Argentina has tried to implement such as the Caja de Conversión, the nation's first currency board which favored … many countries now using—or seriously contemplating—monetary arrangements similar to Argentina's, this important and …
Persistent link: https://www.econbiz.de/10014488224