Internacionalización monetaria y bancaria
The paper comprises a review of basic monetary theory, a discussion of the critical monetary and banking experience of Argentina in 1980-2002, an essay on the stability of velocity of circulation and a proposal for reform. Our thesis is that a volatile velocity makes a floating exchange rate regime...
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| Formato: | Objeto de conferencia |
| Lenguaje: | Español |
| Publicado: |
2005
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| Acceso en línea: | http://sedici.unlp.edu.ar/handle/10915/164329 |
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| Sumario: | The paper comprises a review of basic monetary theory, a discussion of the critical monetary and banking experience of Argentina in 1980-2002, an essay on the stability of velocity of circulation and a proposal for reform. Our thesis is that a volatile velocity makes a floating exchange rate regime a high-risk policy. The proposal consists of substituting offshore for onshore banking, besides replacing reserve for national currency. The whole point is to import from the “islands of stability of the world” basic economic institutions with high reversion costs to provide the country with the widest possible stability horizon. |
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