Re: dollarization

["Alan G. Isaac" <aisaac@xxxxxxxxxxxx>]

Barkley,
If you have them at hand,
would you mind posting a
couple of the best cites.
Thanks,
Alan

On Wed, 6 Dec 2000, J. Barkley Rosser, Jr. wrote:
> Alan,
>       I had trouble figuring out the data at that site
> you posted.  But I know that Argentina has been
> in a recession for some time now, actual declining
> GDP.  Inflation has been under control, however,
> since the currency board was adopted.  Pretty
> clearly a major part of the recession is tied to the
> overvaluation of the dollar, especially in light of the
> devaluation of the Brazilian currency, Argentina's
> major trading partner in Mercosur.
>       Several recent papers in several different places
> have been coming to very similar conclusions about
> currency boards:  they are associated with lower
> inflation but greater real GDP variability.
> Barkley Rosser