Rachet Effects in Currency Substitution : An Application to the Kyrgyz Republic /
Currency substitution is now a common issue in the design of monetary policy in most transition economies. This paper analyzes the persistence of this phenomenon in the Kyrgyz Republic by including a ratchet variable in the model specification. The main conclusion of the paper is that, while some de...
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| Materialtyp: | Tidskrift |
| Språk: | English |
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Washington, D.C. :
International Monetary Fund,
1999.
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| Serie: | IMF Working Papers; Working Paper ;
No. 1999/102 |
| Länkar: | Full text available on IMF |