Dual Currency Boards: A Proposal for Currency Stability
This paper shows that extending the convertibility guarantee of the traditional currency board to a second reserve currency brings about an automatic, market-driven change of the peg when the initial reserve currency appreciates beyond a specified level. The "dual" currency board thus main...
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1. Verfasser: | |
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2000
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Schriftenreihe: | IMF Working Papers
Working Paper No. 00/199 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | This paper shows that extending the convertibility guarantee of the traditional currency board to a second reserve currency brings about an automatic, market-driven change of the peg when the initial reserve currency appreciates beyond a specified level. The "dual" currency board thus maintains the advantages of a hard peg, but avoids the economic difficulties associated with the link to an overvalued reserve currency. As an added benefit, the system has the potential to promote global currency stability, with the reserves of the dual currency board country acting as a buffer stock to the exchange cross-rate of the chosen reserve currencies |
Beschreibung: | 1 Online-Ressource (22 p) |
ISBN: | 1451860102 9781451860108 |
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spelling | Oppers, Stefan E. Verfasser aut Dual Currency Boards A Proposal for Currency Stability Oppers, Stefan E Washington, D.C International Monetary Fund 2000 1 Online-Ressource (22 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 00/199 This paper shows that extending the convertibility guarantee of the traditional currency board to a second reserve currency brings about an automatic, market-driven change of the peg when the initial reserve currency appreciates beyond a specified level. The "dual" currency board thus maintains the advantages of a hard peg, but avoids the economic difficulties associated with the link to an overvalued reserve currency. As an added benefit, the system has the potential to promote global currency stability, with the reserves of the dual currency board country acting as a buffer stock to the exchange cross-rate of the chosen reserve currencies Online-Ausg http://elibrary.imf.org/view/IMF001/01907-9781451860108/01907-9781451860108/01907-9781451860108.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Oppers, Stefan E. Dual Currency Boards A Proposal for Currency Stability |
title | Dual Currency Boards A Proposal for Currency Stability |
title_auth | Dual Currency Boards A Proposal for Currency Stability |
title_exact_search | Dual Currency Boards A Proposal for Currency Stability |
title_exact_search_txtP | Dual Currency Boards A Proposal for Currency Stability |
title_full | Dual Currency Boards A Proposal for Currency Stability Oppers, Stefan E |
title_fullStr | Dual Currency Boards A Proposal for Currency Stability Oppers, Stefan E |
title_full_unstemmed | Dual Currency Boards A Proposal for Currency Stability Oppers, Stefan E |
title_short | Dual Currency Boards |
title_sort | dual currency boards a proposal for currency stability |
title_sub | A Proposal for Currency Stability |
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