Hidden Bibliographic Details
| Other authors / contributors: | International Monetary Fund. Monetary and Financial Systems Department, issuing body.
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| ISBN: | 1283517329
9781283517324
9781451907414
1451907419
1462311482
9781462311484
1452765294
9781452765297
9786613829771
6613829773
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| Notes: | "September 2005."
"This paper was presented at the Conference on the Policy Implications of De Facto Dollarization, held in Lima, Peru, during April 21-22, 2005."
Includes bibliographical references (page 29).
English.
Print version record.
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| Summary: | Rapidly rising dollarization and numerous related financial crises in recent years have heightened the need for policy action. This paper contributes to the policy debate by presenting a common analytic framework that examines the roots of de facto financial dollarization under different economic environments and analyzes its interplay with monetary and prudential policies. In addition to providing a systematic analysis of the existence, stability, and multiplicity of dollarization equilibria, the paper makes a few novel contributions. In particular, it stresses the key role played by monetary policy endogeneity and identifies the underlying determinants of the peso premium that are responsible for inducing a preference for the dollar in financial transactions.
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| Other form: | Print version: Ize, Alain. Financial dollarization equilibria. Washington, D.C. : International Monetary Fund, Monetary and Financial Systems Dept., ©2005
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