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...
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| Формат: | Журнал |
| Язык: | English |
| Опубликовано: |
Washington, D.C. :
International Monetary Fund,
1989.
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| Серии: | IMF Working Papers; Working Paper ;
No. 1989/039 |
| Online-ссылка: | Full text available on IMF |