Osband, Kent.
Independent Currency Authorities An Analytic Primer / Kent Osband. [electronic resource] : Kent Osband. - Washington, D.C. : International Monetary Fund, 1992. - 1 online resource (30 p.) - IMF Working Papers; Working Paper ; No. 92/50 . - IMF Working Papers; Working Paper ; No. 92/50 .
This paper provides an analytic overview of independent currency authorities (ICAs), sometimes called currency boards. ICAs issue and redeem domestic currency against an exchange standard on demand and back such operations through a 100 percent marginal foreign reserve cover. They also impose significant constraints on the banking system and the budget of the country that operates them. When supporting institutions have been put in place, ICAs appear to have promoted price stability, foreign trade, saving, and investment.
1451846886 : 15.00 USD
1018-5941
10.5089/9781451846881.001 doi
Central Bank
Currency Board
Domestic Currency
Reserve Currency
Singapore
Independent Currency Authorities An Analytic Primer / Kent Osband. [electronic resource] : Kent Osband. - Washington, D.C. : International Monetary Fund, 1992. - 1 online resource (30 p.) - IMF Working Papers; Working Paper ; No. 92/50 . - IMF Working Papers; Working Paper ; No. 92/50 .
This paper provides an analytic overview of independent currency authorities (ICAs), sometimes called currency boards. ICAs issue and redeem domestic currency against an exchange standard on demand and back such operations through a 100 percent marginal foreign reserve cover. They also impose significant constraints on the banking system and the budget of the country that operates them. When supporting institutions have been put in place, ICAs appear to have promoted price stability, foreign trade, saving, and investment.
1451846886 : 15.00 USD
1018-5941
10.5089/9781451846881.001 doi
Central Bank
Currency Board
Domestic Currency
Reserve Currency
Singapore