| Description |
1 online resource (46 pages) |
| Series |
IMF Working Papers; Working Paper, 1018-5941 ; No. 92/33 |
|
IMF Working Papers; Working Paper ; no. 92/33
|
| Summary |
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 |
| Notes |
English |
|
Print version record |
| Subject |
Exchange Rate.
|
|
Inflation Rate.
|
|
Monetary Policy.
|
|
Peru.
|
| Form |
Electronic book
|
| Author |
Rojas-Suárez, Liliana
|
| ISBN |
1451979207 |
|
9781451979206 |
|
146239647X |
|
9781462396474 |
|
1455200913 |
|
9781455200917 |
| ISSN |
2227-8885 |
|
