Question: 1. What is a currency board? How do they work? 2. Summarize the history of currency boards. 3. In recent policy debates, currency boards are

1. What is a currency board? How do they work?

2. Summarize the history of currency boards.

3. In recent policy debates, currency boards are often mentioned as a miracle cure for cutting inflation without high costs to the economy. The success story most often cited is Hong Kong (since 1983). However, Argentina's experience offers a cautionary tale. Compare and contrast these two situations.

4. Based on your research for questions 1-3, do you think currency boards are more credible than other exchange systems? Why or why not?

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