A group of companies and bartenders scurriedly in the latest seminars a new attempt at dollarization for the Argentine economy in private destination destinations to change the monetary system with the proximal goblin. The basis of these conversations is the book of economists Emilio Ocampo and Nicolás Cachanosky, “Dollarization, a solution for Argentina”which generate much interest in a part of the political direction that is being assassinated discourse of libertarian diphtheria Javier Milei.
Emilio Ocampo – Professor of Finance and History at CEMA and Associate Investigator at the think tank Center for Strategic and International Studies (CSIS) directs diverse audiences in virtual and prescriptive form to explain this work, which was praised by former ministers Roque Fernández and Ricardo López Murphy and by the economist of Columbia University, Guillermo Calvobetween other.
Among the constituents in the world are representatives of national and international banks – among the executives of Citibank, Supervisor and Credit Agricole -, private analysts like Fernando Marull y empresarios como Alec Oxenford and Marta Svatetz, between others, who opted for the anonymous.
Pero, según pudo saber Infobaela propuesta ya llegó a manos del ex presidente Mauricio Macri and the PRO president, Patricia Bullrichwho are very interested in learning about the idea that is being debated in the media and in the latest media.
The difference between the other alternatives – such as convertibility – the dollarization has no regression range, a characteristic that for Ocampo and Cachanosky constitutes a virtue
Frente is this initiative, the economist Carlos Melconian is that, “In practical terms, Argentina has no chance” is a process of basic characteristics.. Sus pares Marina Dal Poggetto y Eduardo Levy Yeyati advirtieron que, quinen proponen esta initiative, “imagine imagining implementing a hyperinflation that licenses the stock of pesos, similar to what preceded the convertibility in 1991 ″. Además, affirms that the only parts of the country that are officially devalued from Bretton Woods’s alley in the 70 Fueron El Salvador (in normal time) and Ecuador (in the middle of a change of currency). Respectively, it warns that the difference between other alternatives – such as convertibility – the dollarization has no regression range, a characteristic that for Ocampo and Cachanosky constitutes a virtue, in tune with North American Steve Hanke.
In the book, affirming economists that the initiative and “much more all” of dollarization, al proponer la unilateral adoption of the dollar as the currency of the legal exchange ratethe free circulation of convertible currencies and the free movement of capital; a profound reform of the banking system that ponga “the hearts of the Argentines to the algebra of political power”; y the signing of a free trade agreement with the European Union and other blocs commercial.
Los ejes de la initiative
“From the point of view of practicality, we argue that Argentines pay their dues and pay freely and mutually agree with the currency and the means of payment with whom they operate,” Ocampo and Cachanosky said. of Economics at Denver Metropolitan State University and is a senior fellow at the American Institute for Economic Research, among others.
Tras repasar the history of inflation in Argentina from 1810 to 2021, refer to the causes and effects of the subtleties of the precise or international experiences relevant to dollarization, such as Panama, Ecuador, El Salvador, and the Zimbabwean fragment. Luego desglosan las ventures and ventures of the dollar and prophecy as hacerlo in Argentina.
We suggest that Argentines pay their duplicate investments and can freely and accurately exchange currency and payroll with those who operate (Ocampo – Cachanosky)
“Our intention to dollarize the economy includes an integrated reform of the monetary, exchange, financing and payroll systems of Argentina,” he explains.
The authors reported that the local economy is de facto dollarized and it is not necessary to take a walk-away in legal terms short of the instability of the last ten decadences, before Gobierno and the society could buy cheap credit and long distance and the continental economy cracked. “With one history of inflation and chronic instability“Official dollarization is the best alternative to have the country to slow down its decadence.”
“The main benefit of an official dollarization is that it is very reversible. The wall of interest due to the disease will be more than compensated by the benefits of counting with a stable currency”, Affirms, pese a que son pocos the parts that adopt this system.
“The study of Argentine history has made it convenient for me that the political system has a central bank under control, the continent being depressed. “Even if high, persistent and volcanic inflation persists, our decadence is assured.”
Measures that cause high, persistent and volcanic inflation, our decadence is assured (Ocampo – Cachanosky)
“Argentines tend to be free to celebrate contracts in any currency – all fiat as crypto- and use utility water tools that are most conveniently used for their economic activity. “With current technology, coin selection is a relatively irrelevant decision,” he said.
Ocampo account a Infobae that dollarization is the only balance for the country, but that many experts create that it is not the condition and the solution is not the monetary policy, the macroeconomics and the respect of the institutions in their conjuncture. “The dollarization is coming in different envasses. In the case of Argentina, it is not necessary to make a reform in order to cover the deposits and spend the dollars for the money that does not fly at all. And advance with other reforms that can not be reversed, as a free trade treaty, which has nothing to do with United States ”, destacó.
“The Argentine problem is not monetary, institutional institutional, but in August 2001 the instability of the deposits was voted 5 months after the counter“, Affirm Ocampo.
One of the events will take place at the Libertad Foundation and Rosario Progress. Your executive director, Agustín Etchebarne dijo a Infobae que “Emilio dio una charla con banqueros y debatió con Federico Sturzenegger about dollarization; “The idea is that when it comes to dollarization, it can be very different.”
Etchebarne propuso “Dollars with a razonable exchange rate, similar to the free exchange rate, having agreed that it is not a panacea“If there is an institutional solution and a chronic problem, which, by the way, requires a visit to Banco Central before the sea of traumatized people, securing their activities”.
Tanto Ocampo as Etchebarne rechazaron the idea of a bank “Simon” u off shore how about Milei. “This is not for the defender of the great companies, but also for the Assyrians”, subrayó.
This is not for the defender of the great companies, as well as the asalalariados (Etchebarne)
“Given that I have a lot of money in those who are hard at work just like Venezuela and Argentina in the region, we do not need a monetary reform that generates credibility: we only need a regional currency for the primary materials.” Según Etchebarne, with these cambiums, “Inflation will increase in 12 months and credit and PBI will expand.”
“We are talking to Bullrich, who is interested”, says Libertad and Progress economist. Find out what happens next between the seats of the 2023 presidential campaign which reduces the aspiration of a circulatory system that Sweden with the dollarization from the convertibility.