The Dollarization Debate

• ContributorsDominick Salvatore, James W. Dean, and Thomas D. Willett: IntroductionPart I. General AnalysisA Visionary's View1: Robert Mundell: Currency Areas, Exchange Rate Systems, and International Monetary ReformDe Facto Dollarization2: Edgar L. Feige, Michael Faulend, Velimir &Sonje, and Vedran &So&si'c: Unofficial Dollarization in Latin America: Currency Substitution, Network Externalities, and IrreversibilityPros and Cons3: Andrew Berg and Eduardo R. Borensztein: The Pros and Cons of Full Dollarization4: Vittorio Corbo: Is It Time for a Common Currency for the Americas?5: Sebastian Edwards: Dollarization: Myths and Realities6: Barry Eichengreen: What Problems Can Dollarization Solve?7: Kurt Schuler: What Use Is Monetary Sovereignty?One Regime for All Countries?8: Thomas D. Willett: The OCA Approach to Exchange Rate Regimes: A Perspective on Recent Developments9: John Williamson: Dollarization Does Not Make Sense Everywhere10: Ronald I. McKinnon: The Problem of Dollar Encroachment in Emerging Markets11: Dominick Salvatore: Which Countries in the Americas Should Dollarize?12: George M. von Furstenberg: Pressures for Currency Consolidation in Insurance and Finance: Are the Currencies of Financially Small Countries on the Endangered List?Part II. Political Economy13: Benjamin J. Cohen: Monetary Union: The Political Dimension14: Jürgen Schuldt: Latin American Official Dollarization: Political Economy Aspects15: Nancy Neiman Auerbak and Aldo Flores-Quiroga: The Political Economy of Dollarization in Mexico16: Harris Dellas and George S. Tavlas: Lessons of the Euro for Dollarization: Analytic and Political Economy PerspectivesPart III. North America17: Thomas J. Courchene and Richard G. Harris: North American Currency Integration: A Canadian Perspective18: Herbert G. Grubel: The Merit of a North American Monetary Union19: John D. Murray: Why Canada Needs a Flexible Exchange RatePart IV. Latin America20: James W. Dean: Should Latin America's Common-Law Marriage to the U.S. Dollar Be Legalized? Should Canada's?21: Liliana Rojas-Suarez: What Exchange Rate Arrangement Works Best for Latin America?22: Steven H. Hanke: A Dollarization/Free-Banking Blueprint for Argentina23: José María Fanelli: Argentina's Currency Board and the Case for Macroeconomic Policy Coordination in Mercosur24: Archibald R. M. Ritter and Nicholas P. Rowe: Cuba: "Dollarization" and "Dedollarization"Index

The strength of the book is that it brings together most of the major protagonists from the Americas in debates over dollarization and related matters. There is a refreshing variety of views, with no attempt by the editors to impose a party line.