CEPAL Review

Cepal Review is the leading journal for the study of economic and social development issues in Latin America and the Caribbean. Edited by the Economic Commission for Latin America, each issue focuses on economic trends, industrialization, income distribution, technological development and monetary systems, as well as the implementation of economic reform and transfer of technology. Written in English and Spanish (Revista de la Cepal), each tri-annual issue offers approximately 12 studies and essays undertaken by authoritative experts or gathered from conference proceedings.

English Spanish

Nominal anchors and macroeconomic coordination options In MERCOSUR

This study deals with the question of macroeconomic coordinanation in the context of MERCOSUR, analysing the contribution that different types of nominal anchors (monetary and exchangerate) could make to the achievement of convergence of nominal indicators and sustained economic growth. The possible gains in terms of well-being associated with policy coordination are explored, in order to permit a rational evaluation of proposals for greater monetary coordination. An analysis is made of the problem of selecting the nominal anchor most suitable for serving as the basis for cooperative agreements, in an economy affected by real and monetary disturbances.

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