Biblioteca Digital de VanguardiaDifferent monetary systems: Costs and benefits to whom?
This paper analyzes the recent theoretical and practical evidence in terms of economic results of different exchange rate systems. It begins with a historical review and a summary of fixed versus flexible exchange rate systems. Then it compares the experiences of recent currency unions, mostly unila...
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| Formato: | artículo científico |
| Lenguaje: | Inglés |
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Universidad Central de Venezuela
2003
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| Acceso en línea: | http://www.redalyc.org/articulo.oa?id=36490105 http://biblioteca-repositorio.clacso.edu.ar/handle/CLACSO/43933 |
| _version_ | 1782335717175721984 |
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| author | José Luis Cordeiro |
| author_facet | José Luis Cordeiro |
| author_sort | José Luis Cordeiro |
| collection | Repositorio |
| description | This paper analyzes the recent theoretical and practical evidence in terms of economic results of different exchange rate systems. It begins with a historical review and a summary of fixed versus flexible exchange rate systems. Then it compares the experiences of recent currency unions, mostly unilateral, and their relative economic performance during the recent currency crises in Latin America, East Asia and Eastern Europe. A set of issues is discussed in order to weigh the overall costs and benefits for several economies. These issues include exchange rates, GDP performance, inflation rates and foreign reserves. The case of Argentina is also considered sepa-rately, comparing mostly seigniorage costs and interest-rate savings. The benefits and costs of the producers (central banks/governments) and the consumers (citizens) of money are discussed separately. Free banking is also considered in a fast-changing world where there will probably be fewer but better currencies. Not just the euro is a reality now, but maybe the "amero" and the "worldo" or the "mondo" very soon. |
| format | artículo científico |
| id | clacso-CLACSO43933 |
| institution | CLACSO, Repositorio Digital |
| language | Inglés |
| publishDate | 2003 |
| publisher | Universidad Central de Venezuela |
| record_format | greenstone |
| spelling | clacso-CLACSO439332022-03-17T15:42:50Z Different monetary systems: Costs and benefits to whom? José Luis Cordeiro Economía y Finanzas Dollarization euroization exchange rates monetary policy monetary union This paper analyzes the recent theoretical and practical evidence in terms of economic results of different exchange rate systems. It begins with a historical review and a summary of fixed versus flexible exchange rate systems. Then it compares the experiences of recent currency unions, mostly unilateral, and their relative economic performance during the recent currency crises in Latin America, East Asia and Eastern Europe. A set of issues is discussed in order to weigh the overall costs and benefits for several economies. These issues include exchange rates, GDP performance, inflation rates and foreign reserves. The case of Argentina is also considered sepa-rately, comparing mostly seigniorage costs and interest-rate savings. The benefits and costs of the producers (central banks/governments) and the consumers (citizens) of money are discussed separately. Free banking is also considered in a fast-changing world where there will probably be fewer but better currencies. Not just the euro is a reality now, but maybe the "amero" and the "worldo" or the "mondo" very soon. 2003 2022-03-17T15:42:50Z 2022-03-17T15:42:50Z artículo científico http://www.redalyc.org/articulo.oa?id=36490105 http://biblioteca-repositorio.clacso.edu.ar/handle/CLACSO/43933 en http://www.redalyc.org/revista.oa?id=364 Revista Venezolana de Análisis de Coyuntura application/pdf Universidad Central de Venezuela Revista Venezolana de Análisis de Coyuntura (Venezuela) Num.1 Vol.IX |
| spellingShingle | Economía y Finanzas Dollarization euroization exchange rates monetary policy monetary union José Luis Cordeiro Different monetary systems: Costs and benefits to whom? |
| title | Different monetary systems: Costs and benefits to whom? |
| title_full | Different monetary systems: Costs and benefits to whom? |
| title_fullStr | Different monetary systems: Costs and benefits to whom? |
| title_full_unstemmed | Different monetary systems: Costs and benefits to whom? |
| title_short | Different monetary systems: Costs and benefits to whom? |
| title_sort | different monetary systems: costs and benefits to whom? |
| topic | Economía y Finanzas Dollarization euroization exchange rates monetary policy monetary union |
| url | http://www.redalyc.org/articulo.oa?id=36490105 http://biblioteca-repositorio.clacso.edu.ar/handle/CLACSO/43933 |