TY  - BOOK
AU  - Berkmen,Pelin
AU  - Cavallo,Eduardo A.
TI  - Exchange Rate Policy and Liability Dollarization: An Empirical Study 
T2  - IMF Working Papers; Working Paper
SN  - 145186597X :
SN  - 1018-5941
PY  - 2007///
CY  - Washington, D.C.
PB  - International Monetary Fund
KW  - Exchange Rate Policy
KW  - imf
KW  - Exchange Rate
KW  - Foreign Currency
KW  - Inflation
KW  - Nominal Exchange Rate
KW  - Bulgaria
KW  - Dominican Republic
KW  - El Salvador
KW  - Netherlands
KW  - United States
N2  - The paper identifies the contemporaneous relationship between exchange rate policy and liability dollarization using three different definitions of dollarization. The presence of endogeneity makes the empirical identification elusive. We use identification through heteroskedasticity to solve the endogeneity problem in the present context (Rigobon, 2003). While we find that countries with high liability dollarization (external, public, or financial) tend to be more actively involved in exchange rate stabilization operations, we do not find evidence that floating, by itself, promotes de-dollarization
UR  - http://elibrary.imf.org/view/IMF001/02183-9781451865974/02183-9781451865974/02183-9781451865974.xml
UR  - http://www.imfbookstore.org/IMFORG/9781451865974
ER  -