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The Stability of Currency Boards

by Kai Stukenbrock (Author)
©2004 Thesis 240 Pages
Open Access
Series: cege-Schriften, Volume 8

Summary

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.

Details

Pages
240
Publication Year
2004
ISBN (PDF)
9783631756997
ISBN (Softcover)
9783631520314
DOI
10.3726/b14167
Open Access
CC-BY
Language
English
Publication date
2018 (September)
Keywords
Stabilitätspolitik Argentina Lithuania Hong Kong Estonia Exchange Rate Foreign-Currency Debt Currency Crisis Currency Board
Published
Frankfurt am Main, Berlin, Bern, Bruxelles, New York, Oxford, Wien, 2004. 240 pp., num. tables and graphs

Biographical notes

Kai Stukenbrock (Author)

The Author: Kai Stukenbrock was born in Bremen in 1971. Starting in 1992, he studied economics at the University of Göttingen and the University of California, Los Angeles. In 1997 he became a research fellow at the University of Göttingen, where he earned his doctorate. Since 2002 the author has been working as a rating specialist in sovereign ratings for a financial service provider in London.

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Title: The Stability of Currency Boards