its sovereignty and the power to implement autonomous economic policies, but it is not a sufficient condition for …, and that they implicitly adopt an unsatisfactory notion of money as a mere medium of exchange. We develop an alternative … implement monetary and fiscal policies independently, we argue that it is necessarily contingent on a country’s adoption of …

.Web: www.bcra.gov.ar The opinions in this work are an exclusive responsibility of his authors and do not necessarily reflect … partners, and assume that the Law of One Price does not hold for the goods that the U.S.A. and Europe trade between them. We …. Alternative monetary or foreign exchange policy rules, including a �xed exchange rate, in�ation targeting under a pure �oat and in …

currency crisis occurs." (Aghion, Bacchetta and Banerjee 2004, p15). That this is not appropriate for Argentina in 2002, we … 2002 | with private consumption falling by 14% and investment by more than a third | while exports remained more or less … demand-side approach of Krugman (1999) or C¶espedes et al (2003, 2004) and the dynamic, supply-side account of ABB, which may …

may or may not have played in precipitating or expanding the crisis that exists in Argen- tina. And obviously there are a … recommended by the IMF, whether or not they’re the cor- rect prescriptions, can be swallowed. And it certainly is a very dif … charts. In other words—and I won’t go into great detail—while in gen- eral it is not our business to worry about the internal …

Argentina adopted currency type board arrangements to put an end to monetary instability in the nineteenth and the … twentieth centuries under very different historical circumstances and contexts with very different results. The first currency … board experiment the historical conditions. The poor export performance, and the unsustainable trade and current account …

AND DO NOT NECESSARILY REFLECT THOSE OF THE OECD OR OF THE GOVERNMENTS OF ITS MEMBER COUNTRIES CENTRE DE DÉVELOPPEMENT … being 0 or 1, depending on whether or not political reprisal exists. UIET and SIET are the numbers of coups in the 25 years … original English or French, with a summary in the other language. Comments on this paper would be welcome and should be sent to …

Kong (from 1983) and Estonia (from 1992). In all three cases, the implementation of currency boards or equivalent … Fund mentioning the author(s) and the date of issuance. The views expressed are those of the author(s) and do not … exchange rate pegs, and looks at the experiences of three examples of this type of arrangement: Argentina (from 1991), Hong …

financial conditions and a monetary system that does not tend to produce erratic disruptions" gesorgt werden. • Schließlich … Zollabbau, inter- nationale Zusammenarbeit in der Währungspolitik und die Wiedereinführung des Goldstandards bringen, sie … Präsident der Deutschen Reichsbank, Walther Funk, die deutschen Vorstellungen zur Neuordnung der europäischen Währungspolitik …

analysis of trust relationships. Following the definition put forward by Lee et al. (2005) that "confident expectations and a … both trustor and trustee. This aspect is visualized within the two-person optimal intertemporal consumption choice model … intertemporal elasticity of substitution is related to trust and trust worthiness in (inter)national credit contracts. The fact that …

: Lateinamerika S. 17 Abb. 7 Ungewichtete Durchschnittszölle nach Regionen S. 18 Abb. 8 Exportstruktur; Argentinien S. 19 Abb. 9 … Verteilung der EU-Direktinvestitionen in Lateinamerika S. 28 Abb. 13 FDI Zuflüsse aus der EU und Nordamerika; Argentinien …-Wachstum im Vergleich; Argentinien, Brasilien, Mexiko S. 131 Abb. 16 Reales BIP-Wachstum im Vergleich; Chile, Venezuala …