TERMIUM Plus®

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CURRENCY BOARD [1 record]

Record 1 1997-11-07

English

Subject field(s)
  • Currency and Foreign Exchange
CONT

Michael Dooley of the University of California at Santa Cruz concluded by discussing the risks associated with an Argentina-style currency board or - by a controversial extension - the risks implicit in the transition to European economic and monetary union (EMU). He argued that both currency boards and, initially EMU, entail the use of a dual unit of account (for example, for a time, private agents in France will have contracts issued in francs and in euros).

French

Domaine(s)
  • Politique monétaire et marché des changes
CONT

Une caisse d'émission est une garantie constitutionnelle de la valeur externe de la monnaie.

Spanish

Campo(s) temático(s)
  • Política monetaria y mercado de cambios
CONT

Michael Dooley, de la Universidad de California en Santa Cruz, concluyó examinando los riesgos que conlleva una caja de conversión como la de Argentina o los riesgos implícitos en la transición a la unión económica y monetaria de Europa (UEM). Dooley indicó que los países que participen en la UEM pueden reducir los riesgos que entraña la transición comprometiéndose firmemente a mantener la unión monetaria.

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