Monetary Policy in Dollarized Economies

Dollarization - the holding by residents of a substantial portion of their assets in foreign-currency-denominated assets- is a common feature of developing and transition economies, and therefore typical of many countries with IMF - supported adjustment programs. This paper analyzes policy issues that arise-and various monetary strategies that may be pursued- when the monetary sector is dollarized, and it considers the implications that dollarization has for the design of IMF programs.
Publication date: March 1999
ISBN: 9781557757579
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Banks and Banking , central bank , exchange rate , currency substitution , inflation , dollarization

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