[PDF] Special Issue Monetary Union And Dollarization eBook

Author : Matias Vernengo
Publisher : Edward Elgar Publishing
Page : 319 pages
File Size : 30,61 MB
Release : 2006-01-01
Category : Business & Economics
ISBN : 1847200257

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This book brings together an impressive and diverse group of authors to discuss its central theme: whether or not the dollarized international monetary system is sustainable in the context of the global economy it helped create. In addition to its uniquely well-rounded and comprehensive coverage of the issues, this lively and highly readable volume provides an accurate assessment of the lack of consensus in the current debate. A must read for anyone interested in currency crises and the increasing vulnerability of the dollar. Jane D Arista, Director of Progams, Financial Markets Center, US This book deals with the economic consequences of monetary integration, which has long been dominated by the Optimal Currency Area (OCA) paradigm. In this model, money is perceived as having developed from a private sector cost minimization process to facilitate transactions. Not surprisingly, the book argues, the main advantage of monetary integration in the OCA context is the reduction of transaction costs, yet the validity of OCA to analyze processes of monetary integration seems to be limited at best. The contributors in this volume try to go beyond the OCA model and understand the political economy of monetary integration by comparing the European Monetary Union with the dollarization (formal and informal) process in Latin America. The contributors, many of whom are leading lights, reflect the disagreements and the changing views on the proper monetary arrangements in a globalized world and suggest that monetary integration and dollarization are not the solution for the great majority of countries around the world. Monetary Integration and Dollarization brings together mainstream and heterodox views of monetary integration and uses the European and North American experiences as a guide for the discussion of dollarization in developing countries. It will appeal to scholars, researchers and policy makers in the fields of financial and international economics.

Author : Louis-Phillipe Rochon
Publisher : Routledge
Page : 193 pages
File Size : 11,8 MB
Release : 2003-05-22
Category : Business & Economics
ISBN : 1134426062

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The international array of contributors have managed quite a feat - an interesting book that expertly draws comparisons between dollarization and Euroland. This study is a must for anyone interesting in the world of international finance.

Author : Dominick Salvatore
Publisher : Oxford University Press
Page : 491 pages
File Size : 35,71 MB
Release : 2003-03-27
Category : Business & Economics
ISBN : 0198035365

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This book takes a global approach, with an emphasis on North and Latin America respectfully, by discussing one of today's most controversial topics in business; Dollarization. With the collapse of the former Soviet Union, and the formation of the Euro in Europe, many countries and debating whether or not a common currency is in their best interest. This intriguing volume brings together the leading participants in the current dollarization debates. Many advocate the notion of a common currency, while others feel that in doing so will create financial costs for all that take part, with the severity varying from country to country.

Author : Mr.Luis Ignacio Jácome
Publisher : International Monetary Fund
Page : 33 pages
File Size : 23,50 MB
Release : 2010-04-01
Category : Business & Economics
ISBN : 1455200654

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This paper identifies key aspects that countries willing to officially dollarize must necessarily address. Based on country experiences, it discusses the critical institutional bases that are necessary to unilaterally introduce a new legal tender, describes the relevant operational issues to smooth the transition toward the use of the new currency, and identifies key structural reforms that are necessary to favor the sustainability over time of this monetary regime. The paper is aimed at providing preliminary guidance to policy makers and practitioners adopting official dollarization. The paper does not take a position on how appropriate this monetary arrangement is. Experiences from adopting dollarization in Ecuador, El Salvador, Kosovo, Montenegro, and Timor-Leste are illustrated briefly.

Author : Andrew Berg
Publisher : International Monetary Fund
Page : 27 pages
File Size : 19,72 MB
Release : 2000
Category : Business & Economics
ISBN : 1451935048

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Analyzes the costs and benefits of full dollarization, or the adoption by one country of another country's currency. Potential advantages include lower borrowing costs and deeper integration into world markets. But countries lose the ability to devalue, and become dependent on the U.S. Compares with currency board option.

Author : Stefano Battilossi
Publisher : Springer
Page : 0 pages
File Size : 32,66 MB
Release : 2020-03-13
Category : Business & Economics
ISBN : 9789811305955

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This handbook provides a comprehensive overview of state-of-the-art research in the field of monetary and financial history. The authors comprise different generations of leading scholars from universities worldwide. Thanks to its unrivaled breadth both in time (from antiquity to the present) and geographical coverage (from Europe to the Americas and Asia), the volume is set to become a key reference for historians, economists, and social scientists with an interest in the subject. The handbook reflects the existing variety of scholarly approaches in the field, from theoretically driven macroeconomic history to the political economy of monetary institutions and the historical evolution of monetary policies. Its thematic sections cover a wide range of topics, including the historical origins of money; money, coinage, and the state; trade, money markets, and international currencies; money and metals; monetary experiments; Asian monetary systems; exchange rate regimes; monetary integration; central banking and monetary policy; and aggregate price shocks.

Author : Mr.Robert P. Flood
Publisher : International Monetary Fund
Page : 236 pages
File Size : 13,79 MB
Release : 2001-11-28
Category : Business & Economics
ISBN : 1451963092

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This paper presents a broad overview of postwar analytical thinking on international macroeconomics, culminating in a more detailed discussion of recent progress. The paper reviews important empirical evidence that has inspired alternative modeling approaches, as well as theoretical and policy considerations behind developments in the field. The paper presents an empirical study of fiscal policy in countries with extreme monetary regimes. It also examines members of multilateral currency unions, dollarized countries that officially use the money of another country, and countries using currency boards.