Includes bibliographical references (pages 239-251) and index.
Introduction -- Currency boards : history, theory, and institutions -- Currency boards in historical perspective -- Why do countries choose currency boards? -- Modern currency boards : structural and institutional aspects -- Macroeconomic performance -- Stylized facts -- Inflation and disinflation under alternative exchange rate regimes -- Output growth and trade performance -- Argentina -- Case studies in modern currency boards : the European experience -- Euro-based currency boards : introduction -- Estonia -- Lithuania -- Bulgaria -- Bosnia and Herzegovina -- Euro-based currency boards : an assessment -- Conclusions.
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Employing economic theory, cross-country empirical comparison and case studies, this work analyses the effect of currency boards on inflation, output growth and macroeconomic performance. The case studies come from Argentina, Estonia Lithuania, Bulgaria and Bosnia and Herzegovina.