Eighteen well-known policymakers and economists discuss the rising use of currency substitution in Latin America. They examine the effects of currency boards on

Currency boards are institutions that replace central banks and ensure that a country's currency can be purchased at a given price (or exchange rate) upon deman

This paper provides a comprehensive analysis of the attractions and disadvantages of currency board arrangements in their various institutional configurations.

The traditional assumption holds that the territory of money coincides precisely with the political frontiers of each nation state: France has the franc, the Un