Hidden Bibliographic Details
Other authors / contributors: | International Monetary Fund. European I Department, issuing body.
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ISBN: | 1462302505 9781462302505 1455276766 9781455276769 1282041568 9781282041561 1455250422 9781455250424 9786613797155 6613797154
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Notes: | Includes bibliographical references (page 18). Restrictions unspecified Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010. Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 English. digitized 2010 HathiTrust Digital Library committed to preserve Print version record.
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Summary: | Annotation This paper contains an empirical analysis of currency substitution in Turkey: a simple relationship between the share of foreign currency holdings in M2X on one side and movements in the exchange rate or inflation on the other is derived from a two-stage portfolio choice model. This relationship is estimated by band spectrum regression which allows to remove from the data the short-term cyclical components. the results show that the relationship between currency substitution depends mainly on long-term movements in the exchange rate, while the effect of inflation on currency substitution is not statistically significant.
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Other form: | Print version: Scacciavillani, Fabio. Exchange rate movements, inflation expectations, and currency substitution in Turkey. [Washington, D.C.] : International Monetary Fund, European I Dept., ©1995
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Standard no.: | 10.5089/9781455250424.001
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