Series: IMF Working Papers
Author(s): Olivier Jeanne
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 September 2003
Keywords: Liability Dollarization, Monetary Credibility, currency debt, foreign currency, domestic currency, currency composition, Financial Aspects of Economic Integration,
This paper explores the hypothesis that the dollarization of liabilities in emerging market economies is the result of a lack of monetary credibility. I present a model in which firms choose the currency compositio...