Currency boards as instrument for economic stabilisation: how they work and where they are adopted

Cappiello, Antonio (2006): Currency boards as instrument for economic stabilisation: how they work and where they are adopted. Published in: Quaderni di Studi Europei (2006): pp. 41-63.

Abstract

This paper describes the functioning of a currency board within the socio-economic context in which it operates. Special focus is given to the macroeconomic implications of a currency board system compared to a central bank system. In particular the author describes the principles regulating a currency board system (par.3), analyses the most relevant experiences on the adoption of a currency board (par. 5) and its advantages and problems.

• Item Type: MPRA Paper
• Institution: Università di Roma "La Sapienza", Eurosapienza, Centro di ricerca in studi europei ed internazionali
• Language: Italian
• Keywords: Currency Boards; Monetary Policy; Central Banks
• Subjects: P - Economic Systems > P2 - Socialist Systems and Transitional Economies > P24 - National Income, Product, and Expenditure; Money; Inflation; E - Macroeconomics and Monetary Economics > E6 - Macroeconomic Policy Formation, Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook > E65 - Studies of Particular Policy Episodes; E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E58 - Central Banks and Their Policies; E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E50 - General; E - Macroeconomics and Monetary Economics > E6 - Macroeconomic Policy Formation, Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook > E63 - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E59 - Other; O - Economic Development, Technological Change, and Growth > O2 - Development Planning and Policy > O23 - Fiscal and Monetary Policy in Development; P - Economic Systems > P5 - Comparative Economic Systems > P52 - Comparative Studies of Particular Economies
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