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|z 9781451853414
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|a 1018-5941
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|a Scacciavillani, Fabio.
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|a Exchange Rate Movements, Inflation Expectations, and Currency Substitution in Turkey /
|c Fabio Scacciavillani.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 1995.
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|a 1 online resource (21 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a 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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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 1995/111
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/1995/111/001.1995.issue-111-en.xml
|z IMF e-Library
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