Suchergebnisse

The present paper examines various episodes of the monetary history of Brazil and other countries as well as the recent empirical evidence to look critically at the two principal terms of monetary constitution for Brazil: currency board and independent Central Bank proposals. The author outlines also a monetary constitution inspired in the Pandia Calogeras' Monetary Project (1926) with the purpose of shedding light on the basic principles involved in the design of a monetary constitution aimed at controlling the power to create money and curbing inflation. (Rev Econ Polit/DÜI)

This paper assesses São Tomé and Príncipe's monetary and exchange rate arrangements in light of the country's monetary history and the relevant experience of comparable countries in Africa. The study highlights several structural characteristics of São Tomé and Príncipe including its very small size, high degree of openness, extensive use of foreign currencies, and inflexible product and factor markets in the consideration of an appropriate monetary and exchange regime. Firmly anchored currency arrangements, defined in this paper to include memberships in monetary unions or hard pegs, are foun