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Alternative Dual Exchange Market Regimes

Alternative Dual Exchange Market Regimes »

Source: Alternative Dual Exchange Market Regimes : Some Steady State Comparisons

Volume/Issue: 1990/90

Series: IMF Working Papers

Author(s): José Saúl Lizondo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 1990

ISBN: 9781451951851

Keywords: exchange rate, foreign exchange, inflation, official exchange rate, real exchange rate

This paper compares two alternative dual exchange market regimes. In one of them, the official market clears through changes in international reserves, while in the other regime, the central bank implements a ratio...

Bolivia: Staff Report for the 2015 Article IV Consultation

Bolivia: Staff Report for the 2015 Article IV Consultation »

Source: Bolivia : 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Bolivia

Volume/Issue: 2015/334

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 December 2015

ISBN: 9781513588278

Keywords: central bank, monetary fund, poverty, inflation, exchange

This 2015 Article IV Consultation highlights that Bolivia has achieved strong economic performance and poverty reduction over the past decade. Real GDP growth has averaged about 5 percent since 2006, and the povert...

Bolivia: Staff Report for the 2015 Article IV Consultation—Informational Annex

Bolivia: Staff Report for the 2015 Article IV Consultation—Informational Annex »

Source: Bolivia : 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Bolivia

Volume/Issue: 2015/334

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 December 2015

ISBN: 9781513588278

Keywords: central bank, monetary fund, poverty, inflation, exchange

This 2015 Article IV Consultation highlights that Bolivia has achieved strong economic performance and poverty reduction over the past decade. Real GDP growth has averaged about 5 percent since 2006, and the povert...

The Choice of Exchange Rate Regime and Monetary Target in Highly Dollarized Economies

The Choice of Exchange Rate Regime and Monetary Target in Highly Dollarized Economies »

Source: The Choice of Exchange Rate Regime and Monetary Target in Highly Dollarized Economies

Volume/Issue: 2000/29

Series: IMF Working Papers

Author(s): Eduardo Borensztein , and Andrew Berg

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2000

ISBN: 9781451844795

Keywords: exchange rates, financial programming, money demand, exchange rate, inflation, monetary aggregates

We examine the implications of high degrees of dollarization for the choice of exchange rate regime and the information content of various monetary aggregates in developing countries. We conclude that a high degree...

Currency Substitution

Currency Substitution »

Source: Currency Substitution : The Recent Experience of Bolivia

Volume/Issue: 1992/65

Series: IMF Working Papers

Author(s): Benedict Clements , and Gerd Schwartz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1992

ISBN: 9781451848618

Keywords: foreign currency, inflation, exchange rate, inflation rates

This paper analyzes the determinants of currency substitution in Bolivia in the period following the 1984/85 hyperinflation. We find that expected exchange rate depreciation and actual interest rate differentials b...

Currency Substitution in Developing Countries

Currency Substitution in Developing Countries »

Source: Currency Substitution in Developing Countries : An Introduction

Volume/Issue: 1992/40

Series: IMF Working Papers

Author(s): Guillermo Calvo , and Carlos Végh Gramont

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1992

ISBN: 9781451845884

Keywords: Exchange rates, Developing countries, Currency substitution, Inflation, foreign currency, exchange rate, inflation tax

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...

Financial Dollarization in Latin America1

Financial Dollarization in Latin America1 »

Source: Financial Dollarization in Latin America

Volume/Issue: 2006/7

Series: IMF Working Papers

Author(s): Robert Rennhack , and Masahiro Nozaki

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2006

ISBN: 9781451862676

Keywords: foreign currency, exchange rate, inflation, exchange rate flexibility, real exchange rate, Monetary Policy, Central Banking, and the Supply of Money and Credit: General, Financial Institutions and Services: General,

This paper tests several explanations for financial dollarization (FD), with an emphasis on Latin America. The results provide evidence that FD is a rational response to inflation uncertainty. The paper builds on p...

I Overview

I Overview »

Source: Monetary Policy in Dollarized Economies

Series: Occasional Papers

Author(s): Adam Bennett , Eduardo Borensztein , and Tomás Baliño

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 1999

ISBN: 9781557757579

Keywords: central bank, exchange rate, currency substitution, inflation, dollarization

Dollarization, the holding by residents of a significant share of their assets in the form of foreign-currency-denominated assets, is a common feature of developing countries and transition economies and is...

II Trends and Explanations

II Trends and Explanations »

Source: Monetary Policy in Dollarized Economies

Series: Occasional Papers

Author(s): Adam Bennett , Eduardo Borensztein , and Tomás Baliño

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 1999

ISBN: 9781557757579

Keywords: central bank, exchange rate, currency substitution, inflation, dollarization

In general terms, dollarization is a response to economic instability and high inflation, and to the desire of domestic residents to diversify their asset portfolios. In conditions of hyperinflation, dollari...

III Risks and Benefits of Dollarization

III Risks and Benefits of Dollarization »

Source: Monetary Policy in Dollarized Economies

Series: Occasional Papers

Author(s): Adam Bennett , Eduardo Borensztein , and Tomás Baliño

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 1999

ISBN: 9781557757579

Keywords: central bank, exchange rate, currency substitution, inflation, dollarization

In a fully liberalized and convertible financial system, savers would prefer to hold a portion of their portfolio in foreign-currency-denominated assets, simply in order to achieve a desired distribution of...