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Federal Reserve Bank of Chicago
Economic Perspectives
Dollarization in Argentina
Francois R. Velde
Marcelo Veracierto
Abstract

Several countries are seriously considering the abandonment of their currency and its formal replacement with the U.S. dollar. Since 1991, Argentina has backed its currency with 100 percent reserves and successfully pegged it to the dollar. In doing so, it has already grappled with many issues that confront would-be adopters of the dollar. Moving to full-fledged dollarization might offer a solution to recurring crises that are partly driven by expectations that Argentina might abandon its peg.


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Francois R. Velde & Marcelo Veracierto, "Dollarization in Argentina" , Federal Reserve Bank of Chicago, Economic Perspectives, issue Q I, pages 24-37, 2000.
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Keywords: Argentina ; Dollar ; Money
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