Money and Credit Under Currency Substitution:
This paper examines the effects on the supply of money and credit of a repatriation of foreign assets in an economy subject to currency substitution. In the absence of 100 percent reserve requirements, such a change in the location of deposits, which is not compensated by an increase in money demand...
Gespeichert in:
1. Verfasser: | |
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
1992
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Schriftenreihe: | IMF Working Papers
Working Paper No. 92/99 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | This paper examines the effects on the supply of money and credit of a repatriation of foreign assets in an economy subject to currency substitution. In the absence of 100 percent reserve requirements, such a change in the location of deposits, which is not compensated by an increase in money demand, induces a credit boom that works itself out through a transitory current account deficit and real currency appreciation. These results are illustrated with data from the recent experience in Argentina and Peru where local banks have been authorized to capture dollar deposits from residents |
Beschreibung: | 1 Online-Ressource (18 p) |
ISBN: | 1451852193 9781451852196 |
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spelling | Rodriguez, Carlos A. Verfasser aut Money and Credit Under Currency Substitution Rodriguez, Carlos A Washington, D.C International Monetary Fund 1992 1 Online-Ressource (18 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 92/99 This paper examines the effects on the supply of money and credit of a repatriation of foreign assets in an economy subject to currency substitution. In the absence of 100 percent reserve requirements, such a change in the location of deposits, which is not compensated by an increase in money demand, induces a credit boom that works itself out through a transitory current account deficit and real currency appreciation. These results are illustrated with data from the recent experience in Argentina and Peru where local banks have been authorized to capture dollar deposits from residents Online-Ausg http://elibrary.imf.org/view/IMF001/04722-9781451852196/04722-9781451852196/04722-9781451852196.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Rodriguez, Carlos A. Money and Credit Under Currency Substitution |
title | Money and Credit Under Currency Substitution |
title_auth | Money and Credit Under Currency Substitution |
title_exact_search | Money and Credit Under Currency Substitution |
title_exact_search_txtP | Money and Credit Under Currency Substitution |
title_full | Money and Credit Under Currency Substitution Rodriguez, Carlos A |
title_fullStr | Money and Credit Under Currency Substitution Rodriguez, Carlos A |
title_full_unstemmed | Money and Credit Under Currency Substitution Rodriguez, Carlos A |
title_short | Money and Credit Under Currency Substitution |
title_sort | money and credit under currency substitution |
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