Hidden Bibliographic Details
| Other authors / contributors: | Piñon, Marco, author.
International Monetary Fund, issuing body.
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| ISBN: | 1283566079
9781283566070
9781451990607
145199060X
9781451993202
145199320X
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| Notes: | "Prepared by Marco Piñón, Stephanie Eble, Gastón Gelos, Fernando Gonçalves, Alejandro López Mejía, Fernanda Rossi Iriondo, and Carolina Saizar, Marcos Rietti Souto, Gustavo Adler, and Alessandro Rebucci."
"February 2008"--Cover.
"Prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country."
Includes bibliographical references.
Print version record.
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| Summary: | This paper examines the inflation expectations, monetary policy credibility, and dollarization. Country fundamentals have explained variation in sovereign spreads, but external factors play an important role. This paper assesses the role of and prospects for bank-lending from a cyclical and structural perspectives. A model calibrated for Uruguay, a financially dollarized economy, suggests that reserves are nearing optimal prudential levels. The results of a modified Merton framework, applied to the case of the Uruguayan banking system, appear to be promising for countries without equity markets.
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| Other form: | Print version: Uruguay. Washington, D.C. : International Monetary Fund, 2008
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