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Living and Dying with Hard Pegs: The Rise and Fall of Argentina's Currency Board

Augusto de la Torre, Eduardo Levy Yeyati, and Sergio L. Schmukler

in Monetary Unions and Hard Pegs: Effects on Trade, Financial Development, and Stability

Published in print:
2004
Published Online:
August 2004
ISBN:
9780199271405
eISBN:
9780191601200
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199271402.003.0011
Subject:
Economics and Finance, Economic Systems

The rise and fall of Argentina’s currency board illustrates the extent to which the advantages of hard pegs have been overstated. The currency board did not promote fiscal or monetary discipline, and ... More


The Anatomy of a Multiple Crisis: Why was Argentina Special and What Can We Learn from It?

Guillermo Perry and Luis Servén

in Monetary Unions and Hard Pegs: Effects on Trade, Financial Development, and Stability

Published in print:
2004
Published Online:
August 2004
ISBN:
9780199271405
eISBN:
9780191601200
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199271402.003.0012
Subject:
Economics and Finance, Economic Systems

The Argentine crisis has been variously blamed on fiscal imbalances, real overvaluation, and self-fulfilling investor pessimism triggering a capital flow reversal. This chapter provides a full ... More


Hong Kong's Link to the US Dollar: Origins and Evolution

John Greenwood

Published in print:
2007
Published Online:
September 2011
ISBN:
9789622098909
eISBN:
9789882207004
Item type:
book
Publisher:
Hong Kong University Press
DOI:
10.5790/hongkong/9789622098909.001.0001
Subject:
Economics and Finance, South and East Asia

This book describes how Hong Kong surmounted the great currency crisis of 1982–83. The book rationalizes why and how the Hong Kong Monetary Authority evolved from a pure currency board to a near ... More


Epilogue

John Greenwood

in Hong Kong's Link to the US Dollar: Origins and Evolution

Published in print:
2007
Published Online:
September 2011
ISBN:
9789622098909
eISBN:
9789882207004
Item type:
chapter
Publisher:
Hong Kong University Press
DOI:
10.5790/hongkong/9789622098909.003.0014
Subject:
Economics and Finance, South and East Asia

This Final chapter presents a summary and assessment of the initial reforms during the years 1983–89. It reviews the developments in Hong Kong's monetary system during the period 1990–1998, and the ... More


Argentina's Currency Board and the Case for Macroeconomic Policy Coordination in Mercosur

José María Fanelli

in The Dollarization Debate

Published in print:
2003
Published Online:
November 2003
ISBN:
9780195155358
eISBN:
9780199832989
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0195155351.003.0024
Subject:
Economics and Finance, International

This chapter examines the pros and cons of macroeconomic policy coordination in Mercosur. It reviews the macroeconomic functioning of the Argentine economy under convertibility, and the exchange ... More


Credibility of Hong Kong's Currency Board: The Role of Institutional Arrangements

Yum K. Kwan, Francis T. Lui, and Leonard K. Cheng

in Regional and Global Capital Flows: Macroeconomic Causes and Consequences

Published in print:
2001
Published Online:
February 2013
ISBN:
9780226386768
eISBN:
9780226387017
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226387017.003.0008
Subject:
Economics and Finance, International

This chapter provides a valuable history of the operations of the Hong Kong Monetary Authority (HKMA)—the de facto central bank of Hong Kong—and attempts to measure the credibility of the system ... More


Inflation and Disinflation under Alternative Exchange Rate Regimes

Wolf Holger C., Ghosh Atish R., Berger Helge, and Gulde Anne-Marie

in Currency Boards in Retrospect and Prospect

Published in print:
2008
Published Online:
August 2013
ISBN:
9780262232654
eISBN:
9780262286411
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262232654.003.0006
Subject:
Economics and Finance, Econometrics

This chapter examines whether lower inflation under currency boards compared to other regimes is associated with the currency board regime itself or the result of other determinants of inflation or ... More


Modern Currency Boards: Structural and Institutional Aspects

Wolf Holger C., Ghosh Atish R., Berger Helge, and Gulde Anne-Marie

in Currency Boards in Retrospect and Prospect

Published in print:
2008
Published Online:
August 2013
ISBN:
9780262232654
eISBN:
9780262286411
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262232654.003.0004
Subject:
Economics and Finance, Econometrics

This chapter notes some of the practical decisions and trade-offs involved in designing a currency board arrangement (CBA). It then considers how modern currency boards have been designed in terms of ... More


Conclusions

Wolf Holger C., Ghosh Atish R., Berger Helge, and Gulde Anne-Marie

in Currency Boards in Retrospect and Prospect

Published in print:
2008
Published Online:
August 2013
ISBN:
9780262232654
eISBN:
9780262286411
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262232654.003.0015
Subject:
Economics and Finance, Econometrics

This chapter summarizes the main themes covered in this book and presents some concluding thoughts. This book has provided a comprehensive, balanced look at currency board regimes, complementing ... More


Currency Boards in Retrospect and Prospect

Holger C. Wolf, Atish R. Ghosh, Helge Berger, and Anne-Marie Gulde

Published in print:
2008
Published Online:
August 2013
ISBN:
9780262232654
eISBN:
9780262286411
Item type:
book
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262232654.001.0001
Subject:
Economics and Finance, Econometrics

Currency boards, more so than other exchange rate regimes, have come in and out of fashion. Defined by a fixed exchange rate with full convertibility, central bank liabilities backed with foreign ... More


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