Exchange Rate Policy and Liability Dollarization : An Empirical Study /

The paper identifies the contemporaneous relationship between exchange rate policy and liability dollarization using three different definitions of dollarization. The presence of endogeneity makes the empirical identification elusive. We use identification through heteroskedasticity to solve the end...

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Κύριος συγγραφέας: Berkmen, Pelin
Άλλοι συγγραφείς: Cavallo, Eduardo
Μορφή: Επιστημονικό περιοδικό
Γλώσσα:English
Έκδοση: Washington, D.C. : International Monetary Fund, 2007.
Σειρά:IMF Working Papers; Working Paper ; No. 2007/033
Διαθέσιμο Online:Full text available on IMF
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100 1 |a Berkmen, Pelin. 
245 1 0 |a Exchange Rate Policy and Liability Dollarization :   |b An Empirical Study /  |c Pelin Berkmen, Eduardo Cavallo. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2007. 
300 |a 1 online resource (47 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a The paper identifies the contemporaneous relationship between exchange rate policy and liability dollarization using three different definitions of dollarization. The presence of endogeneity makes the empirical identification elusive. We use identification through heteroskedasticity to solve the endogeneity problem in the present context (Rigobon, 2003). While we find that countries with high liability dollarization (external, public, or financial) tend to be more actively involved in exchange rate stabilization operations, we do not find evidence that floating, by itself, promotes de-dollarization. 
538 |a Mode of access: Internet 
700 1 |a Cavallo, Eduardo. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2007/033 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2007/033/001.2007.issue-033-en.xml  |z IMF e-Library