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150128 ||| eng |
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|a 9781451979206
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|a Rojas-Suárez, Liliana
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| 245 |
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|a Currency Substitution and Inflation in Peru
|c Liliana Rojas-Suárez
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 1992
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| 300 |
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|a 46 pages
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| 651 |
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4 |
|a United States
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| 653 |
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|a Payment Systems
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| 653 |
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|a Banks
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| 653 |
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|a Public finance & taxation
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| 653 |
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|a Banks and banking
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| 653 |
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|a Regimes
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| 653 |
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|a Government debt management
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| 653 |
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|a Financial services
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| 653 |
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|a Deflation
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| 653 |
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|a Debts, Public
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| 653 |
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|a Mortgages
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| 653 |
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|a Estimation
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| 653 |
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|a Foreign Exchange
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| 653 |
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|a Standards
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| 653 |
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|a Demand for Money
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| 653 |
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|a Macroeconomics
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| 653 |
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|a Public financial management (PFM)
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| 653 |
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|a Banking
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| 653 |
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|a Bank deposits
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| 653 |
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|a Foreign exchange
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| 653 |
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|a Depository Institutions
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| 653 |
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|a Government and the Monetary System
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| 653 |
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|a Inflation
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| 653 |
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|a Dollarization
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| 653 |
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|a Monetary economics
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| 653 |
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|a Debt Management
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| 653 |
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|a Micro Finance Institutions
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| 653 |
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|a Debt
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| 653 |
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|a Currency
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| 653 |
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|a Sovereign Debt
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| 653 |
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|a Price Level
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| 653 |
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|a Banks and Banking
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| 653 |
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|a Monetary Systems
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| 653 |
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|a Prices
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| 653 |
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|a Monetary policy
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| 653 |
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|a Exchange rates
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| 653 |
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|a Public Finance
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| 653 |
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|a Money and Monetary Policy
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
0 |
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|a IMF Working Papers
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| 028 |
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|a 10.5089/9781451979206.001
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| 856 |
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|u https://elibrary.imf.org/view/journals/001/1992/033/001.1992.issue-033-en.xml?cid=781-com-dsp-marc
|x Verlag
|3 Volltext
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|a 330
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|a 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 paper also shows that, while the importance of currency substitution as a transmission mechanism through which domestic policies affected the dynamics of inflation was relatively small during a period of high but relatively stable inflation (January 1978-85), it became an important factor in the inflation process during the recent hyperinflation episode
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