The paper analyzes the recent effort to create institutional support for monetary and financial integration process in the Asia-Pacific region. We argue that the 1997-1998 financial crisis was the catalytic force behind the emergence of new cooperation mechanisms. Considering the European...

Academic debate in South America favours a Mercosur monetary union based on the euro and the European Monetary Union (EMU), and inspired by the theory of Optimal Currency Area (OCA). This paper aims to discuss whether the adoption of a single currency in the EMU mould of monetary union, is...

Exchange rate regime for emergent countries: a Keynesian proposal - The article presents, in a Keynesian perspective, a proposal of exchange rate regime for emerging countries to assure macroeconomic stabilization, that is, price stability and full employment.

Assessing the inflation targeting regime in Brazil- This paper is concerned with ?new? monetary policy, essentially what has come to be known as inflation targeting (IT). While the paper aims to examine this policy in the case of emerging countries, the focus is on Brazil and the application of...

The origins of the Argentine crisis: a suggested interpretation ? In this paper we look for the historical genesis of the Argentine crisis. We argue that the economic liberalization model, implicit of the Convertibility Plan, has its roots in establishment of the agro-exporting economy on which,...