Wolf, Holger C.; Ghosh, Atish R.; Berger, Helge; Gulde, … - 2008
Currency boards, more so than other exchange rate regimes, have come in and out of fashion. Defined by a fixed exchange … the regime, currency boards were common in colonial times--until most were cast off as countries gained independence after … World War II. In the 1990s, currency boards enjoyed a revival as the cornerstone of various macroeconomic stabilization …