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150128 ||| eng |
020 |
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|a 9781451862058
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100 |
1 |
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|a Ize, Alain
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245 |
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|a Financial Dollarization Equilibria
|b A Framework for Policy Analysis
|c Alain Ize
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260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2005
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300 |
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|a 30 pages
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651 |
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4 |
|a United States
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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 Payment Systems
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653 |
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|a Dollarization
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653 |
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|a Currency; Foreign exchange
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653 |
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|a Monetary economics
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653 |
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|a Regimes
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653 |
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|a Value of Firms
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653 |
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|a Money
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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 Market risk
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653 |
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|a Financial risk management
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653 |
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|a Credit risk
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653 |
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|a Capital and Ownership Structure
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653 |
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|a Goodwill
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653 |
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|a Banks and Banking
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653 |
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|a Currencies
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653 |
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|a Monetary Systems
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653 |
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|a Monetary policy
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653 |
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|a Financial Risk and Risk Management
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653 |
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|a Exchange rates
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653 |
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|a Financing Policy
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653 |
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|a Money and Monetary Policy
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653 |
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|a Financial services law & regulation
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653 |
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|a Foreign exchange
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041 |
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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 |
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|a IMF Working Papers
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028 |
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|a 10.5089/9781451862058.001
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856 |
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|u https://elibrary.imf.org/view/journals/001/2005/186/001.2005.issue-186-en.xml?cid=18350-com-dsp-marc
|x Verlag
|3 Volltext
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082 |
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|a 330
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520 |
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|a Rapidly rising dollarization and numerous related financial crises in recent years have heightened the need for policy action. This paper contributes to the policy debate by presenting a common analytic framework that examines the roots of de facto financial dollarization under different economic environments and analyzes its interplay with monetary and prudential policies. In addition to providing a systematic analysis of the existence, stability, and multiplicity of dollarization equilibria, the paper makes a few novel contributions. In particular, it stresses the key role played by monetary policy endogeneity and identifies the underlying determinants of the peso premium that are responsible for inducing a preference for the dollar in financial transactions
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