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Another Look at Exhange Rate and Monetary Regime Options for Latin America

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  • Vittorio Corbo

Abstract

The purpose of this paper is to comment on the paper by Berg et. al. on exchange rate and monetary regime options for Latin America. The purpose of Berg et. al. paper is to evaluate the relative merits of the two exchange rate regimes to which most Latin American countries are converging today: hard pegs (dollarization and currency board) and floating exchange rate regimes. They also assess if the countries that float are able to use monetary policy to pursue domestic ends. This is a very interesting paper on a very important and practical topic: the choice of exchange rate regime and monetary policy in emerging markets.

Suggested Citation

  • Vittorio Corbo, 2002. "Another Look at Exhange Rate and Monetary Regime Options for Latin America," Documentos de Trabajo 228, Instituto de Economia. Pontificia Universidad Católica de Chile..
  • Handle: RePEc:ioe:doctra:228
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    File URL: http://www.economia.uc.cl/docs/dt_228.pdf
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    References listed on IDEAS

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    3. Taylor, John B., 2000. "Low inflation, pass-through, and the pricing power of firms," European Economic Review, Elsevier, vol. 44(7), pages 1389-1408, June.
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    5. Clarida, Richard & Gali, Jordi & Gertler, Mark, 1998. "Monetary policy rules in practice Some international evidence," European Economic Review, Elsevier, vol. 42(6), pages 1033-1067, June.
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    10. Eichengreen, Barry, 1996. "Golden Fetters: The Gold Standard and the Great Depression, 1919-1939," OUP Catalogue, Oxford University Press, number 9780195101133.
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    13. Ben S. Bernanke & Frederic S. Mishkin, 1997. "Inflation Targeting: A New Framework for Monetary Policy?," Journal of Economic Perspectives, American Economic Association, vol. 11(2), pages 97-116, Spring.
    14. Stanley Fischer, 2001. "Exchange Rate Regimes: Is the Bipolar View Correct?," Journal of Economic Perspectives, American Economic Association, vol. 15(2), pages 3-24, Spring.
    15. Campa, José Manuel, 1990. "Exchange Rates and Economic Recovery in the 1930s: An Extension to Lation America," The Journal of Economic History, Cambridge University Press, vol. 50(03), pages 677-682, September.
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    17. Lawrence H. Summers, 2000. "International Financial Crises: Causes, Prevention, and Cures," American Economic Review, American Economic Association, pages 1-16.
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