Currency Board
BANKS IN CURRENCY BOARD SYSTEMS AND LIMIT ON MINIMUM LIQUIDITY POSITION IN NATIONAL CURRENCY *
... of currency board arrangements is the loss of independent monetary ...with currency board arrangements deal with loss of Central Bank functions which are especially important in case of ...
16
Sterilization Activities and Lender of Last Resort in Recent Currency Board-Like Countries
... Finally, the coefficients before and after the structural breaks for Bulgaria and Hong Kong reveal the very peculiar behavior of monetary discretion in these countries. For both, the coefficients before the break are ...
43
Money Market Liquidity under Currency Board – Empirical Investigations for Bulgaria
... a currency board, Hanke (2003)11 made an attempt to define such an archetype which will be called “orthodox currency board” in the ...existing currency boards and helps to explain the ...
26
An Assessment of the Sustainability and Desirability of a Currency Board Arrangement, with Special Reference to Bosnia and Herzegovina
... a currency board to discipline fiscal policy is critically dependent upon the political willingness of the government to be disciplined”, especially when it has access to international financial markets ...
587
Banks-Firms Nexus under the Currency Board: Empirical Evidence from Bulgaria
... of currency board, the dual sector of enterprises and the specific institutional environment continue their ...the currency board by itself is not sufficiently effective to overcome the ...
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Monetary policy under currency board arrangements: An necessary flexibility for transition countries?
... of currency boards is the rule-based character of this system and the resulting inflexibility in case of shocks, a frequently recurring event in transition ...under currency board arrangements (CBA) ...
43
From a currency board to the euro: Public attitudes toward unilateral euroization in Bulgaria
... a currency board pegging the local currency to the ...of currency devaluation, an increase in trade and investment, and more rapid integration with the European ...national currency and ...
23
Currency Board Arrangement and Transition: The Issues, Controversies and the Experience of Bosnia
... the currency board ...on currency board sustainability over the medium ...anchor currency form DM to EURO, and the respective conversion of non-registered DM by domestic ...anchor ...
33
Géopolitique du régime monétaire Expliquer la longévité du Currency Board de Djibouti
... L’assujettissement exclusif du volume monétaire local aux mouvements de la balance des paiements est particulièrement redoutable dans la phase d’équipement (ou en période de dépression). Dans un pareil système, la ...
25
Reactions to Shocks and Monetary Policy Regimes: Inflation Targeting Versus Flexible Currency Board in Ghana, South Africa and the WAEMU
... In this paper, we compare the properties of both policies when the central banks respond to three negative shocks hitting the economies: a recessionary demand shock, a supply shock increasing inflation and a negative ...
42
Prerequisites for Sustainable Government Borrowing Within Currency Board System
... Also case study method is applied to illustrate the compliance of the government strategy with the necessary prerequisites for sustainable government borrowing in economy within currency board system. ...
10
Prospects for a currency board in the Arab Republic of Egypt
... There are two particularly interesting features of Figure 8. The first involves the proportion of assets that are net foreign assets (the light blue bars at the base).This value dropped from a high of 78 percent in 1953 ...
36
The Role of Currency Board Regime during Economic Crisis
... domestic currency, the Central bank will take in this excess supply by giving away international assets, thus contracting the money ...cases Currency Board does not require a one to one backing of ...
10
Dollarization, Currency Board or Common Currency: Towards a New Monetary Order in North America?
... of currency board systems throughout the Americas would ensure stability and greater economic prosperity for the western hemisphere, making it easier to jump into dollarization if the euro success begins to ...
23
Currency Board: From Stabilization to Full Dollarization? The Argentine Experience
... when Currency Board was installed, money base was only US$ 3000 millions, having accumulated reserves in the previous year, after a hyperinflation of March 1990, when they reached a critical level of a ...
19
An investigation into the credibility of currency board arrangements in Bosnia and Herzegovina and Bulgaria
... The credibility of the monetary regime is usually identified as its important feature, since economic policies are believed to be more effective if they are credible to private economic agents (Blackburn and Christensen, ...
31
The lender of last resort function under a currency board : the case of Argentina
... A small open economy with a fixed exchange rate is obliged to allow changes in international interest rates to affect the asset values of the entire banking sector, so that any lender of[r] ...
54
Living and dying with hard pegs : the rise and fall of Argentina's currency board
... Floating the peso would have immediately addressed the C component of the CGD trap, albeit at the cost of: (i) a run on the currency, as peso depositors moved [r] ...
60
Pricing Foreign Currency and Cross-Currency Options Under GARCH
... foreign currency and cross-currency options, which is capable of accommodating existing empirical ...Foreign currency options and cross-currency options are then valued using Monte Carlo ...
26
Pricing Foreign Currency and Cross-Currency Options Under GARCH
... foreign currency and cross-currency options, which is capable of accommodating existing empirical ...Foreign currency options and cross-currency options are then valued using Monte Carlo ...
26