Currency Substitution and Financial innovation.
This paper presents a cash-in-advance framework, with variable income velocity, where the domestic effects, as well as the international transmission, of financial innovation can be analyzed. In particular, the discussion emphasizes the role of currency substitution and of cross-border transfers of...
| Collectivité auteur: | |
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| Format: | Revue |
| Langue: | English |
| Publié: |
Washington, D.C. :
International Monetary Fund,
1989.
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| Collection: | IMF Working Papers; Working Paper ;
No. 1989/039 |
| Accès en ligne: | Full text available on IMF |