Miguel Savastano, “Dollarization in Latin America: Recent Evidence and Some Policy Issues,” IMF Working Paper 96/4, 1996; also published in P.D. Mizen and E.J. Pentecost, eds., The Macroeconomics of International Currencies: Theory, Policy and Evidence (Aldershot: Edward Elgar: 1996).
Joannes Mongardini and Johannes Mueller, “Ratchet Effects in Currency Substitution: An Application to the Kyrgyz Republic,” IMF Staff Papers, Vol. 47, No. 2, pp. 218-37, 2000. Also see notable earlier work on dollarization by Ratna Sahay and Carlos Végh, “Dollarization in Transition Economies: Evidence and Policy Implications,” IMF Working Paper 95/96, 1995; also published in P.D. Mizen and E.J. Pentecost, eds., The Macroeconomics of International Currencies: Theory, Policy and Evidence (Aldershot: Edward Elgar, 1996).
Pierre-Richard Agénor and Mohsin S. Khan, “Foreign Currency Deposits and the Demand for Money in Developing Countries,” Journal of Development Economics, Vol. 50, pp. 101–18, 1996; Stanley Black, Charalambos Christofides, and Alex Mourmouras use a model of currency substitution to analyze money demand during the run-up to a currency crisis in “Convertibility Risk: The Precautionary Demand for Foreign Currency in a Crisis,” IMF Working Paper 01/210, 2001.
Alain Ize and Eduardo Levy-Yeyati, “Dollarization of Financial Intermediation: Causes and Policy Implications,” IMF Working Paper 98/28, 1998; also forthcoming in the Journal of International Economics as “Financial Dollarization.”
Luis Catão and Marco Terrones, “Determinants of Dollarization: The Banking Side,” IMF Working Paper 00/146, 2000.
Alex Mourmouras and Steven H. Russell, “Smuggling, Currency Substitution and Unofficial Dollarization: A Crime-Theoretic Approach” IMF Working Paper 00/176, 2000.
Andrew Berg and Eduardo Borensztein, “The Choice of Exchange Rate Regime and Monetary Target in Highly Dollarized Economies,” IMF Working Paper 00/29, 2000.
Alain Ize, “Implications of Partial Dollarization for Inflation Targeting: A View from the Dollarization Literature,” (in Spanish) in Revista de Estudios Económicos, Nro. 7 (junio 2001), Banco Central de Reserva del Perú.
Thomas Baliño, Adam Bennett, and Eduardo Borensztein, “Monetary Policy in Dollarized Economies,” IMF Occasional Paper No. 171, 1999.
Hélène Poirson, “How Do Countries Choose Their Exchange Rate Regime?” IMF Working Paper 01/46, 2001.
Olaf Unteroberdoerster, “Foreign Currency Deposits in Vietnam—Trends and Policy Issues,” in David Cowen, Olaf Unteroberdoerster, Chanpen Puckahtikom, and Nita Thacker, Vietnam: Selected Issues and Statistical Appendix, IMF Country Report 02/5, 2002; Bernard Fritz-Krockow, Eric Verreydt, Werner Keller, and Randa Sab, “Deposit and Loan Dollarization in Haiti,” in Haiti: Selected Issues, IMF Staff Country Report No. 01/04, 2001; Thomas Rumbaugh, Kotaro Ishi, Hong Liang, and Atsushi Masuda, “Dollarization and the Monetary Regime,” in Cambodia: Selected Issues, IMF Staff Country Report No. 00/135, 2000; Mario de Zamaróczy and Sopanha Sa, “Macroeconomic Adjustment in a Highly Dollarized Economy: The Case of Cambodia,” forthcoming IMF Working Paper; and Saul Lizondo, Andrew Wolfe, Dale Chua, Juan Pablo Cordoba, and Andrea Richter, “The Design and Challenge of Monetary Policy in Peru,” in Peru: Selected Issues, IMF Staff Country Report No. 01/51, 2001. IMF country reports are available online in full-text format at www.imf.org/publications.
Andrew Berg and Eduardo Borensztein, “The Pros and Cons of Full Dollarization,” IMF Working Paper 00/50, 2000, forthcoming in James Dean, Dominick Salvatore, and Thomas Willett, eds., The Dollarization Debate (Oxford University Press).
Guillermo A. Calvo and Carmen Reinhart, “Reflections on Dollarization,” in Alesina and Barro, eds., Currency Unions (Stanford: Hoover Institute Press), 2000. See also their “Capital Flow Reversals, the Exchange Rate Debate, and Dollarization,” in Finance and Development, Vol. 36 (September), pp. 13–15, 1999.
Zelko Bogetić, “Official Dollarization: Current Experiences and Issues,” Cato Journal (fall), pp. 179–213, 2000. See also by the same author “Full Dollarization: Fad or Future?” Challenge, March/April 2000, pp. 17–48; “The Calculus of Full Dollarization,” Central Banking, Vol. 11, No. 2, 2000, and “Seignorage and Dollarization,” Central Banking, Vol. 10, No. 4, 2000.
David Parsley and Shang-Jin Wei, “Limiting Currency Volatility to Stimulate Goods Market Integration: A Price-Based Approach,” IMF Working Paper 01/197, 2001.
Richard Abrams and Hernán Cortés-Douglas, “Introduction of a New National Currency: Policy, Institutional, and Technical Issues,” IMF Working Paper 93/49, 1993.
Frederic Mishkin and Miguel Savastano, “Monetary Policy Strategies for Latin America,” NBER Working Paper No. 7617, 2000.
Augusto de la Torre, Roberto García-Saltos, and Yira Mascaro, “Banking, Currency, and Debt Meltdown: Ecuador Crisis in the Late 1990s,” forthcoming in Latin American Financial Crises, ed. by Albert Berry (University of Toronto); and Erik Offerdal, Mariano Cortés, Mayra Zermeño, Alvin Hilaire, Gabriela Inchauste, Fernando Delgado, Antonio Pancorbo, and Werner Keller, Ecuador: Selected Issues and Statistical Annex, IMF Staff Country Report No. 00/125, 2000.