000			01896nam a22002057a 4500
999			_c15514 _d15514
008			180730b xxu||||| |||| 00| 0 eng d
020			_a 1281600229
082			_aJF _bBER 2000
100			_aBerg, A.
245			_aThe pros and cons of full dollarization/ _cby Andrew Berg, Eduardo Borensztein, International Monetary Fund. Research Department.
260			_aWashington, D.C. : _bInternational Monetary Fund, Research Department, _c 2000.
300			_a32 p.: _bill.; _c23 cm.
440			_a IMF working paper, _nWP/00/50.
520			_a There is an old joke that says that the exam questions in economics remain the same every year-only the answers change. Certainly, the debate about the best exchange rate regime has been with us forever, but new answers keep appearing. The newest answer to the question of what exchange rate regime countries should choose is "none." That is, countries should forgo using their own currency entirely and adopt as legal tender a stable foreign currency, most commonly the U.S. dollar. Then-president Carlos Menem of Argentina suggested last year that Argentina should adopt the U.S. dollar-that is, "dollarize"--As the ultimate solution to its long history of difficulties with monetary and exchange rate policy. More recently, Ecuador has announced its intention to adopt the dollar, in the context of a deep economic and political crisis. Prominent economists have begun to argue that essentially all developing countries should also dollarize (see Calvo and Reinhart, 1999). Not only developing countries, however, are considering dollarization. Partly prompted by the example of the adoption of the euro this year, some have suggested that Canada should adopt the U.S. dollar as well
521			_ageneral audience
650			_a Dollar, American.
650			_aForeign exchange.
650			_aCurrency question.
942			_2ddc _cBK