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...
Main Author: | |
---|---|
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 |