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Currency Substitution in Developing Countries
Mr.Guillermo CalvoMr.Carlos A. Végh Gramont
其他書名
An Introduction
出版International Monetary Fund, 1992-05-01
主題Business & Economics / Money & Monetary PolicyBusiness & Economics / InflationBusiness & Economics / Foreign Exchange
ISBN145184588X9781451845884
URLhttp://books.google.com.hk/books?id=qFEYEAAAQBAJ&hl=&source=gbs_api
EBookSAMPLE
註釋This paper reviews the main policy and analytical issues related to currency substitution in developing countries. The paper discusses, first, whether currency substitution should be encouraged or not; second, how the presence of currency substitution affects the choice of nominal anchors in inflation stabilization programs; third, the effects of changes in the rate of growth of the money supply on the real exchange rate; fourth, the interaction between inflationary finance and currency substitution; and, finally, issues related to the empirical verification of the currency substitution hypothesis.