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Stukenbrock Kai, "The Stability of Currency Boards", Peter Lang International Academic Publishing Group, 2018, DOI: 10.3726/b14167, License: https://creativecommons.org/licenses/by/4.0/legalcode
The 1990s saw a revival of the currency board system, and proponents have advocated it as an easy-to-set-up exchange rate arrangement providing effective stabilization of the economy. However, the experience of Argentina has highlighted the risks of having a currency board. This study presents both the potential benefits, as well as the risks, of having a currency board by examining the stability of the currency board arrangement and identifying factors affecting the stability. The analysis is based on second-generation currency crisis models, extended to incorporate currency-board specific features and to account for particular aspects often found in currency-board economies.
Argentina, Boards, Currency, Currency Board, Currency Crisis, Estonia, Exchange Rate, Foreign-currency Debt, Hong Kong, Lithuania, Stabilitätspolitik, Stability, Stukenbrock
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