Stabilization Policy and the Costs of Dollarization
نویسندگان
چکیده
منابع مشابه
Stabilization Policy and the Costs of Dollarization
This paper compares the welfare costs of business cycles in a dollarized economy to those arising in economies with different monetary arrangements. The alternative monetary policy regimes studied belong to three broad families: devaluation rate rules, inflation targeting, and money growth rate rules. The analysis is conducted within an optimizing model of a small open economy with sticky price...
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The most recent generation of currency and nancial crisis literature blames the borrowing decisions of real and nancial sector actors; in particular, it argues that the de facto dollarization of liabilities is inherently risky and can trigger a host of economic ills that impede economic development. This paper presents and tests an institutional theory of de facto nancial dollarization. It argu...
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Emerging market countries have trouble ßoating, and many that claim to ßoat do not deliver on such promises. That is a main conclusion of much recent empirical work, starting with the papers of Calvo and Reinhart (2002) and Stein et al (1999). The reason for this would seem to be dollarization of liabilities and balance sheet effects. Calvo (1999 and 2000), Krugman (1999 and 2000), Stein, Hausm...
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چکیده ندارد.
15 صفحه اولthe foreign policy of russia toward caucasus 2000-2008
after the soviet union dissolution, a chaotic period was begun in the russia. russia lost its glory and felt disgrace. the first group of elites came to power under yeltsin; they tried to re-define russia’s identity as a european country and build a foreign policy on this baseline. therefore russia tried to become closer with the west especially with the u.s. according to their view the sovie...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2000
ISSN: 1556-5068
DOI: 10.2139/ssrn.224056