Monetary Policy in Dollarized Economies
( Occasional Papers )
Publication series ： Occasional Papers
Author： Mr. Adam Bennett Mr. Eduardo Borensztein Mr. Tomás J. T. Baliño
Publisher： INTERNATIONAL MONETARY FUND
Publication year： 1999
E-ISBN: 9781452722771
P-ISBN(Paperback): 9781557757579
Subject： F821.0 monetary policy
Language： ENG
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Description
"Dollarization" - the holding by residents of a substantial portion of their assets in foreign-currency-denominated assets- is a common feature of developing and transition economies, and therefore typical of many countries with IMF - supported adjustment programs. This paper analyzes policy issues that arise-and various monetary strategies that may be pursued- when the monetary sector is dollarized, and it considers the implications that dollarization has for the design of IMF programs.