Exchange rate movements, inflation expectations, and currency substitution in Turkey /

Exchange rate movements, inflation expectations, and currency substitution in Turkey /

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Bibliographic Details
Author / Creator:	Scacciavillani, Fabio, author.
Imprint:	[Washington, D.C.] : International Monetary Fund, European I Dept., ©1995.
Description:	1 online resource (iii, 18 pages) : illustrations
Language:	English
Series:	IMF working paper ; WP/95/111 IMF working paper ; WP/95/111.
Subject:	Currency substitution -- Turkey -- Econometric models. Foreign exchange rates -- Turkey -- Econometric models. Inflation (Finance) -- Turkey -- Econometric models. Currency substitution -- Econometric models. Foreign exchange rates -- Econometric models. Inflation (Finance) -- Econometric models. Turkey.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12496759

Hidden Bibliographic Details
Other authors / contributors:	International Monetary Fund. European I Department, issuing body.
ISBN:	1462302505 9781462302505 1455276766 9781455276769 1282041568 9781282041561 1455250422 9781455250424 9786613797155 6613797154
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.
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.
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
Standard no.:	10.5089/9781455250424.001

Description
Summary:	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.
Physical Description:	1 online resource (iii, 18 pages) : illustrations
Format:	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.
Bibliography:	Includes bibliographical references (page 18).
ISBN:	1462302505 9781462302505 1455276766 9781455276769 1282041568 9781282041561 1455250422 9781455250424 9786613797155 6613797154