Currency Boards Analysis Risks And Benefits

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Currency Boards Analysis Risks And Benefits

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Author : Brian Lawrence
language : en
Publisher: Clanrye International
Release Date : 2023-09-26

Currency Boards Analysis Risks And Benefits written by Brian Lawrence and has been published by Clanrye International this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-09-26 with Business & Economics categories.

A currency board is a country's monetary authority that is tasked with sustaining a fixed exchange rate along with a foreign currency. The control of the money supply and exchange rate is delegated to a monetary authority by a currency board. This monetary authority then makes decisions concerning the currency valuation of a country. The currency board permits limitless exchange of the domestic currency with foreign currency to the agents. It provides stable exchange rates that facilitate investment and trade. Currency boards are also well-known for controlling inflation. However, there are certain risks associated with the currency boards. In a crisis, the investors can quickly exchange their domestic currency for foreign currency, leading to an increase in the interest rates. This can severely impact the reserve and liquidity requirements of the banks. This book analyses the risks and benefits associated with currency boards. It is appropriate for students seeking detailed information in this area of study as well as for experts.

The Stability Of Currency Boards

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Author : Kai Stukenbrock
language : en
Publisher: Peter Lang Pub Incorporated
Release Date : 2004

The Stability Of Currency Boards written by Kai Stukenbrock and has been published by Peter Lang Pub Incorporated this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Currency boards. categories.

The 1990s saw a revival of the currency board system, and proponents have advocated it as an easy-to-set-up exchange rate arrangement providing effective stabilization of the economy. However, the experience of Argentina has highlighted the risks of having a currency board. This study presents both the potential benefits, as well as the risks, of having a currency board by examining the stability of the currency board arrangement and identifying factors affecting the stability. The analysis is based on second-generation currency crisis models, extended to incorporate currency-board specific features and to account for particular aspects often found in currency-board economies.

Currency Board Arrangements

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Author : Mr.Charles Enoch
language : en
Publisher: International Monetary Fund
Release Date : 1997-09-05

Currency Board Arrangements written by Mr.Charles Enoch and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-09-05 with Business & Economics categories.

This paper provides a comprehensive analysis of the attractions and disadvantages of currency board arrangements in their various institutional configurations. It asks what defines a currency board arrangement, what are their strengths and weaknesses, and what constraints they place on macroeconomic policies. It also reviews country experiences with these arrangements.

Pricing Currency Risk

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Author : Sergio L. Schmukler
language : en
Publisher:
Release Date : 2004

Pricing Currency Risk written by Sergio L. Schmukler and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with categories.

Schmukler and Serven investigate the patterns and determinants of the currency risk premium in two currency boards - Argentina and Hong Kong. Despite the presumed rigidity of currency boards, currency premium is almost always positive and at times very large. Its term structure is usually upward sloping, but flattens out or even becomes inverted at times of turbulence. Currency premia differ across markets. The forward discount typically exceeds the currency premium derived from interbank rates, particularly during times of crisis. The large magnitude of these cross-market differences can be the consequence of unexploited arbitrage opportunities, market segmentation, or other risks embedded in typical measures of currency risk. The premium and its term structure depend on domestic and global factors related to devaluation expectations and risk perceptions. This paper - a product of the Macroeconomics and Growth, Development Research Group - is part of a larger effort in the group to understand how capital market and exchange rate regimes work.

The Stability Of Currency Boards

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Author : Kai Stukenbrock
language : en
Publisher: Peter Lang Pub Incorporated
Release Date : 2004

The Stability Of Currency Boards written by Kai Stukenbrock and has been published by Peter Lang Pub Incorporated this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Business & Economics categories.

The 1990s saw a revival of the currency board system, and proponents have advocated it as an easy-to-set-up exchange rate arrangement providing effective stabilization of the economy. However, the experience of Argentina has highlighted the risks of having a currency board. This study presents both the potential benefits, as well as the risks, of having a currency board by examining the stability of the currency board arrangement and identifying factors affecting the stability. The analysis is based on second-generation currency crisis models, extended to incorporate currency-board specific features and to account for particular aspects often found in currency-board economies.

International Convergence Of Capital Measurement And Capital Standards

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Author :
language : en
Publisher: Lulu.com
Release Date : 2004

International Convergence Of Capital Measurement And Capital Standards written by and has been published by Lulu.com this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Bank capital categories.

Powering The Digital Economy Opportunities And Risks Of Artificial Intelligence In Finance

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Author : El Bachir Boukherouaa
language : en
Publisher: International Monetary Fund
Release Date : 2021-10-22

Powering The Digital Economy Opportunities And Risks Of Artificial Intelligence In Finance written by El Bachir Boukherouaa and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-10-22 with Business & Economics categories.

This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.

Making A Currency Board Operational

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Author : Charles Enoch
language : en
Publisher:
Release Date : 1997

Making A Currency Board Operational written by Charles Enoch and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Banks and banking, Central categories.

Currency Board Arrangements Rationale For Their Introduction Advantages And Disadvantages

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Author : Svetoslav Pintev
language : en
Publisher: diplom.de
Release Date : 2003-03-18

Currency Board Arrangements Rationale For Their Introduction Advantages And Disadvantages written by Svetoslav Pintev and has been published by diplom.de this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-03-18 with Business & Economics categories.

Inhaltsangabe:Abstract: Currency board arrangements, under which domestic currency can be issued only to the extent that it is fully covered by the central bank s holdings of foreign exchange, were long generally dismissed as throwbacks to the colonial era. It was argued that such a rigid, rule-based arrangement was not well suited to diversified economies in many of which the authorities had developed sophisticated skills in monetary management. Instead, currency boards were seen as desirable in very small open economies (such as city-states for example). In 1960, 38 countries or territories were operating under a currency board. By 1970, they were 20 and, by the late 1980s, only 9. In the last decade the interest for Currency Board Arrangement (hereinafter CBA) renewed because of its simplicity, transparency, and rule-bound character. It became evident after the successful efforts made by two transition economies-Estonia and Lithuania-which quickly managed to achieve credibility for their newly established currencies. In 1997, a currency board arrangement was introduced in Bulgaria to end the economic crisis. Soon after, Bosnia and Herzegovina followed. In 1998 there have been discussions on establishing a currency board arrangement in Russia. More recently the newly appointed Finance Minister of Poland initiated a debate on pegging the Polish zloty to the euro through a CBA. This paper previews the history of the colonial and modern currency boards and presents the benefits of such a system for the newly emerged transition economies in Eastern Europe and Bulgaria especially. First, we will present a brief description of the currency board system. Currency Board Arrangements after falling into oblivion during much of the post-war period, staged a remarkable comeback mainly in Central and Eastern Europe countries. Estonia, Lithuania, Bulgaria and Bosnia and Herzegovina have introduced this particular monetary framework and as a result have managed to break inflationary inertia, to bolster the credibility of the monetary authorities and to instill macroeconomic discipline. Inhaltsverzeichnis:Table of Contents: I.Introduction 1.What is a currency board? 2.What a currency board is not? II.Origins of the Currency Board 1.Intellectual origin of the currency board system 2.Early Currency Board Systems 3.Decline of the Currency Board system. Reasons 4.Currency board system in nowadays III.Currency Board system and Countries in [...]

World Economic Outlook May 2000

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Author : International Monetary Fund. Research Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2000-04-12

World Economic Outlook May 2000 written by International Monetary Fund. Research Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000-04-12 with Business & Economics categories.

The World Economic Outlook, published twica a year in English, French, Spanish, and Arabic, presents IMF staff economists analyses of global economic developments during the near and medium term. Chapters give an overview of the world economy; consider issues affecting industrial countries, developing countries, and economies in transition to market; and address topics of pressing current interest. Annexes, boxes, charts, and an extensive statistical appendix augment the text.