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Dollarization and monetary sovereignty: the case of Argentina

Author

Listed:
  • David E. Altig
  • Owen F. Humpage

Abstract

In January, President Menim of Argentina proposed strengthening his country's commitment to monetary stability by replacing the peso with the U.S. dollar. Dollarization leaves Argentina without a lender of last resort, but the Federal Reserve's current operating procedure combines with existing Argentine arrangements to mitigate this drawback.

Suggested Citation

  • David E. Altig & Owen F. Humpage, 1999. "Dollarization and monetary sovereignty: the case of Argentina," Economic Commentary, Federal Reserve Bank of Cleveland, issue Sep.
    • Handle: RePEc:fip:fedcec:y:1999:i:sep15
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    Citations

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    Cited by:

    1. Hunter, Delroy M., 2006. "The evolution of stock market integration in the post-liberalization period - A look at Latin America," Journal of International Money and Finance, Elsevier, vol. 25(5), pages 795-826, August.
    2. Kurt Schuler, 2006. "Reply to David Altig and Brad Setser," Econ Journal Watch, Econ Journal Watch, vol. 3(1), pages 105-108, January.
    3. Paul Hallwood & Ian W. Marsh & Jorg Scheibe, 2001. "Official Dollarization in Latin America: Could it Work?," Working papers 2001-06, University of Connecticut, Department of Economics.
    4. Jerry Jordan & John Carlson, 2000. "Money, Monetary Policy, and Central Banking," Journal of Financial Services Research, Springer;Western Finance Association, vol. 18(2), pages 241-253, December.
    5. Francis, Bill B. & Hasan, Iftekhar & Hunter, Delroy M., 2002. "Emerging market liberalization and the impact on uncovered interest rate parity," Journal of International Money and Finance, Elsevier, vol. 21(6), pages 931-956, November.
    6. David Altig, 2006. "Damned If You Do: Comment on Schuler's Argentina Analysis," Econ Journal Watch, Econ Journal Watch, vol. 3(1), pages 88-94, January.
    7. Delroy M. Hunter, 2005. "What Drives Time Variation In Emerging Market Segmentation?," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 28(2), pages 261-280, June.

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