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Outsourcing Monetary Policy-an Essay by the Example of El Salvador and Montenegro

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Hochschule für Wirtschafts-, Rechtsund Sozialwissenschaften sowie Internationale Beziehungen

Monetary Economics

Outsourcing Monetary Policy An essay by the example of El Salvador and Montenegro

Marisa Wenk (11-608-387)
Charlene (Yi Hsuan) Jung (13-602-693)
Vincenz Jahn (09-610-734)

Prof. Dr. Carlo Strub
19. Dezember 2013

Table of Content
1. Introduction .......................................................................................................................................... 1
2.1 Background..................................................................................................................................... 2
2.2 Benefits ........................................................................................................................................... 2
2.2.1 Stability.................................................................................................................................... 2
2.2.2 Lower risk premia.................................................................................................................... 3
2.2.3 Eliminating the transactional costs .......................................................................................... 3
2.2.4 Domestic financial development ............................................................................................. 3
2.2.5 Better economic compatibility ................................................................................................ 3
2.3 Costs ............................................................................................................................................... 3
2.3.1 Losing an economic adjustment mean .................................................................................... 3
2.3.2 Incapable of acting as the lender of last resort...

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