Currency Substitution and Inflation in Peru /

This paper shows that there is a long-run relationship between the expected rate of depreciation in the black-market-exchange rate and the ratio of domestic to foreign money in Peru; that is, the hypothesis of currency substitution can explain the behavior of real holdings of money in Peru. The pape...

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Bibliographic Details
Main Author: Rojas-Suarez, Liliana
Format: Journal
Language:English
Published: Washington, D.C. : International Monetary Fund, 1992.
Series:IMF Working Papers; Working Paper ; No. 1992/033
Online Access:Full text available on IMF