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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...

Financial Stability in Dollarized Economies

Financial Stability in Dollarized Economies »

Series: Occasional Papers

Author(s): Anne Gulde , David Hoelscher , Alain Ize , Dewitt Marston , and Gianni De Nicolo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 2004

DOI: http://dx.doi.org/10.5089/9781589062962.084

ISBN: 9781589062962

Keywords: Dollarization, Financial stability, banking, foreign exchange, banking system, exchange rate

This paper addresses the challenges to prudential supervision in highly dollarized economies, where central banks and supervisors may be constrained in the use of standard money and financial policy tools. The stud...

Back Matter

Back Matter »

Source: Financial Stability in Dollarized Economies

Series: Occasional Papers

Author(s): Anne Gulde , David Hoelscher , Alain Ize , Dewitt Marston , and Gianni De Nicolo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 2004

ISBN: 9781589062962

Keywords: Dollarization, Financial stability, banking, foreign exchange, banking system, exchange rate

This paper addresses the challenges to prudential supervision in highly dollarized economies, where central banks and supervisors may be constrained in the use of standard money and financial policy tools. The stud...

Front Matter

Front Matter »

Source: Financial Stability in Dollarized Economies

Series: Occasional Papers

Author(s): Anne Gulde , David Hoelscher , Alain Ize , Dewitt Marston , and Gianni De Nicolo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 2004

ISBN: 9781589062962

Keywords: Dollarization, Financial stability, banking, foreign exchange, banking system, exchange rate

This paper addresses the challenges to prudential supervision in highly dollarized economies, where central banks and supervisors may be constrained in the use of standard money and financial policy tools. The stud...

I Introduction

I Introduction »

Source: Financial Stability in Dollarized Economies

Series: Occasional Papers

Author(s): Anne Gulde , David Hoelscher , Alain Ize , Dewitt Marston , and Gianni De Nicolo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 2004

ISBN: 9781589062962

Keywords: Dollarization, Financial stability, banking, foreign exchange, banking system, exchange rate

Dollarization, a common feature in many developing and transition countries, can have important implications for financial stability. In a bid to promote financial intermediation and deepening,...

II Implications of Dollarization for Financial Stability

II Implications of Dollarization for Financial Stability »

Source: Financial Stability in Dollarized Economies

Series: Occasional Papers

Author(s): Anne Gulde , David Hoelscher , Alain Ize , Dewitt Marston , and Gianni De Nicolo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 2004

ISBN: 9781589062962

Keywords: Dollarization, Financial stability, banking, foreign exchange, banking system, exchange rate

Empirical evidence suggests that financial dollarization may increase the vulnerability of financial systems to solvency and liquidity risks. Simple cross-country estimates of the impact of doll...

III Managing Bank Runs in Dollarized Countries

III Managing Bank Runs in Dollarized Countries »

Source: Financial Stability in Dollarized Economies

Series: Occasional Papers

Author(s): Anne Gulde , David Hoelscher , Alain Ize , Dewitt Marston , and Gianni De Nicolo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 2004

ISBN: 9781589062962

Keywords: Dollarization, Financial stability, banking, foreign exchange, banking system, exchange rate

Dealing with bank runs in dollarized economies is both more difficult and subject to greater risks than in other cases. 16 The absence of a lender of last resort has...

A Noteon Dual Foreign Exchange Markets with official Rationing
			: Predetermined Versus Floating official Exchange Rate

A Noteon Dual Foreign Exchange Markets with official Rationing : Predetermined Versus Floating official Exchange Rate »

Volume/Issue: 1991/31

Series: IMF Working Papers

Author(s): José Saúl Lizondo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 1991

DOI: http://dx.doi.org/10.5089/9781451844955.001

ISBN: 9781451844955

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

This paper examines the relationship between the long run rate of inflation and the allocation of transactions between markets in economies that operate dual exchange market regimes and ration foreign exchange in t...

Losing Credibility
			: The Stabilization Blues

Losing Credibility : The Stabilization Blues »

Volume/Issue: 1992/73

Series: IMF Working Papers

Author(s): Pablo Guidotti , and Carlos Végh Gramont

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 1992

DOI: http://dx.doi.org/10.5089/9781451958591.001

ISBN: 9781451958591

Keywords: exchange rate, balance of payments, balance of payments crisis, nominal interest rate, real exchange rate

In exchange rate-based stabilization programs, credibility often follows a distinct time pattern. At first it rises as the highly visible nominal anchor provides a sense of stability and hopes run high for a perman...

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 »

Volume/Issue: 2000/29

Series: IMF Working Papers

Author(s): Eduardo Borensztein , and Andrew Berg

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2000

DOI: http://dx.doi.org/10.5089/9781451844795.001

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...