Title Exchange rate movements, inflation expectations, and currency substitution in Turkey / prepared by Fabio Scacciavillani

Published [Washington, D.C.] : International Monetary Fund, European I Dept., ©1995

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Description 1 online resource (iii, 18 pages) : illustrations Series IMF working paper ; WP/95/111 IMF working paper ; WP/95/111. Summary Annotation This paper contains an empirical analysis of currency substitution in Turkey: a simple relationship between the share of foreign currency holdings in M2X on one side and movements in the exchange rate or inflation on the other is derived from a two-stage portfolio choice model. This relationship is estimated by band spectrum regression which allows to remove from the data the short-term cyclical components. the results show that the relationship between currency substitution depends mainly on long-term movements in the exchange rate, while the effect of inflation on currency substitution is not statistically significant Bibliography Includes bibliographical references (page 18) Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL English digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL Print version record Subject Currency substitution -- Turkey -- Econometric models Foreign exchange rates -- Turkey -- Econometric models Inflation (Finance) -- Turkey -- Econometric models Currency substitution -- Econometric models. Foreign exchange rates -- Econometric models. Inflation (Finance) -- Econometric models. Turkey. Form Electronic book Author International Monetary Fund. European I Department, issuing body. ISBN 1462302505 9781462302505 1455276766 9781455276769 1282041568 9781282041561 1455250422 9781455250424 9786613797155 6613797154

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