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The Dollarization Debate$
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Dominick Salvatore, James W. Dean, and Thomas D. Willett

Print publication date: 2003

Print ISBN-13: 9780195155358

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0195155351.001.0001

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North American Currency Integration

North American Currency Integration

A Canadian Perspective

(p.299) 17 North American Currency Integration
The Dollarization Debate

Thomas J. Courchene

Richard G. Harris

Oxford University Press

This chapter presents the case for a North American monetary union (NAMU). It focuses on three issues: the downsides of Canada’s floating exchange rate, the arguments for increased exchange rate fixity, and that the long-term objective of exchange rate fixity should be a NAMU. It argues that the NAMU should have a place in Canada’s policy and research agenda, given the emergence of currency arrangements as a supranational public good.

Keywords:   Canada, North American monetary union, currency, exchange rate fixity

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