A Currency Union for the Caribbean /

The experiences of Caribbean Economic Community countries show that exchange rate depreciation in these countries is inflationary, and that, while changes in the relative prices of tradables may affect exports, tourism, and imports, nominal exchange rate changes have no predictable effect on those r...

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Библиографические подробности
Главный автор: Worrell, Rupert
Формат: Журнал
Язык:English
Опубликовано: Washington, D.C. : International Monetary Fund, 2003.
Серии:IMF Working Papers; Working Paper ; No. 2003/035
Online-ссылка:Full text available on IMF
Описание
Итог:The experiences of Caribbean Economic Community countries show that exchange rate depreciation in these countries is inflationary, and that, while changes in the relative prices of tradables may affect exports, tourism, and imports, nominal exchange rate changes have no predictable effect on those relative prices. Under these circumstances, economic literature indicates that a fixed exchange rate regime is optimal, and Caribbean countries with (quasi-) currency boards have been successful in maintaining durable exchange rate pegs. Commitment to a currency board is a potentially vital step in achieving a currency union for the Caribbean.
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Объем:1 online resource (35 pages)
Формат:Mode of access: Internet
ISSN:1018-5941
Доступ:Electronic access restricted to authorized BRAC University faculty, staff and students