Israel’s post-stabilization experience of moderate inflation and eventual disinflation is compared with experiences in other countries. Lessons that emerge from an examination of international experiences indicate the importance of establishing early on credibility in the nominal anchor and a...

This paper examines the potential advantages and disadvantages of adopting a common currency arrangement among the six IMF member Pacific island countries that have their own national currency. These countries are Fiji, Papua New Guinea, Samoa, Solomon Islands, Tonga, and Vanuatu. The study...

Intro -- Contents -- I. INTRODUCTION -- II. ECONOMIC CHARACTERISTICS AND EXCHANGE RATE POLICY IN THE PACIFIC REGION -- III. COMMON CURRENCY AREAS: EXPERIENCE IN OTHER REGIONS -- IV. ISSUES IN THE CONSIDERATION OF A COMMON CURRENCY AREA IN THE PACIFIC REGION -- V. CONCLUDING REMARKS -- References.