This paper provides a comprehensive analysis of the attractions and disadvantages of currency board arrangements in their various institutional configurations.

Inhaltsangabe:Abstract: Currency board arrangements, under which domestic currency can be issued only to the extent that it is fully covered by the central bank

This paper summarizes recent literature on the experience of some existing currency boards. It begins with the definition of the currency board and the descript

Historically, countries with currency board arrangements (CBAs) have experienced lower inflation and higher growth than those with other regimes. The experience

Since 1998, the staff of the International Monetary Fund has published a classification of countries' de facto exchange rate arrangements. Experience in operati