De bancos centrales, juntas monetarias y dolarización

On central banks, currency boards and dollarization

Gustavo Ferro

MPRA Paper from University Library of Munich, Germany

Abstract: The objective of this article is to present in a systematic war elements to debate the persistence of the option for central banks, against its replacement by currency boards or by a foreign currency in unstable environments. Both, currency boards or "dollarization" could be desirable since the point of view of stability and growth with respect to a traditional central bank agreement. But they entail a loss of degrees of freedom before crisis and they are not time consistent.

Keywords: banco central; junta monetaria; dolarización (search for similar items in EconPapers)
JEL-codes: E42 E58 (search for similar items in EconPapers)
Date: 2001-04
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:15354

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