Within the current rules of the game, Argentina's central bank (BCRA) is charged with being the lender of last resort as well as providing full convertibility between pesos and U.S. dollars - two objectives with one instrument, namely, reserves. Within those rules, it may be well that the balance of responsibilities needs to shift. Complete dollarization can significantly reduce risks but not entirely eliminate them. If the BCRA can concentrate more...
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INFORMATION
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1996/09/30
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Document de travail de recherche sur les politiques
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WPS1648
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1
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1
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2010/07/01
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The lender of last resort function under a currency board : the case of Argentina
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Finance & Private Sector Development
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