patterns and determinants of the currency risk premium in two currency boards -- Argentina and Hong Kong. Despite the presumed …Hard pegs, such as currency boards, intend to reduce or even eliminate currency risk. This paper investigates the … rigidity of currency boards, the currency premium is almost always positive and at times very large. Its term structure is …

This article examines speculative attacks against the Greek drachma from 1960 until the adoption of the euro in 2001 …, until the early 1990s, speculative attacks were largely related to domestic macroeconomic imbalances. However, the effort to …

This paper presents an empirical analysis of speculative attacks on pegged exchange rates in 22 countries between 1967 … and 1992. We define speculative attacks or crises as large movements in exchange rates, interest rates, and international …

powerful tool for studying the time series features of speculative attacks. The ACH model proposes a duration variable to …

strategy. Key Words: Currency Boards, IMF, Crisis Management, Monetary Credibility, Heterodox / Orthodox Programs … exchange rate regime because of the stronger credibility and commitment to good monetary policy practice that currency boards … discussion of pegged regimes 6 Commitment devices that ensure sustainability and credibility of currency boards …