Policy Misalignments of the Currency Board Arrangements: Issues and Experiences from the Caribbean Economies
Although a Currency Board is a simple monetary arrangement, there is a range of important policy issues that must be addressed by the domestic monetary authorities. If one defines policy misalignment as deviation from such policy rule then such mistakes have been associated with either external deficit or contradictory effects on GDP. This paper seeks to evaluate the exchange rate and interest rate misalignment in six Caribbean economies that have adopted Currency Board Arrangements.
Volume (Year): 3 (2003)
Issue (Month): 2 ()
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References listed on IDEAS
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- Mccallum, Bennet T., 1988. "Robustness properties of a rule for monetary policy," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 29(1), pages 173-203, January.
- Charles Enoch & TomÃ¡s J. T. BaliÃ±o, 1997. "Currency Board Arrangements; Issues and Experiences," IMF Occasional Papers 151, International Monetary Fund.
- Buiter, Willem H & Jewitt, Ian, 1981. "Staggered Wage Setting with Real Wage Relativities: Variations on a Theme of Taylor," The Manchester School of Economic & Social Studies, University of Manchester, vol. 49(3), pages 211-228, September.
- Atish R. Ghosh, 1998. "Currency Boards; The Ultimate Fix?," IMF Working Papers 98/8, International Monetary Fund.
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