- Title Pages
- 1 Currency Areas, Exchange Rate Systems, and International Monetary Reform
- 2 Unofficial Dollarization in Latin America
- 3 The Pros and Cons of Full Dollarization
- 4 Is It Time for a Common Currency for the Americas?
- 5 Dollarization
- 6 What Problems Can Dollarization Solve?
- 7 What Use Is Monetary Sovereignty?
- 8 The OCA Approach to Exchange Rate Regimes
- 9 Dollarization Does not Make Sense Everywhere
- 10 The Problem of Dollar Encroachment in Emerging Markets
- 11 Which Countries in the Americas Should Dollarize?
- 12 Pressures for Currency Consolidation in Insurance and Finance
- 13 Monetary Union
- 14 Latin American Official Dollarization
- 15 The Political Economy of Dollarization in Mexico
- 16 Lessons of the Euro for Dollarization
- 17 North American Currency Integration
- 18 The Merit of a North American Monetary Union
- 19 Why Canada Needs a Flexible Exchange Rate
- 20 Should Latin America's Common‐Law Marriage to the U.S. Dollar Be Legalized?
- 21 What Exchange Rate Arrangement Works Best for Latin America?
- 22 A Dollarization/Free‐Banking Blueprint for Argentina
- 23 Argentina's Currency Board and the Case for Macroeconomic Policy Coordination in Mercosur
- 24 Cuba
The Political Dimension
- (p.221) 13 Monetary Union
- The Dollarization Debate
Benjamin J. Cohen
- Oxford University Press
This chapter focuses on the political dimension of monetary union — key domestic and international political issues involved when sovereign states consider either currency unification or formal dollarization. It examines the role of policies in the context of two distinct stages: at the time when the initial decision is made to create a monetary union, and as part of what determines the sustainability of the endeavor. Implications for Canada and Latin America are discussed.
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