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Another look at the inflation-productivity trade-off
Bitros, Georgios; Panas, Epaminondas - EconWPA - 2005
Our aim in this paper is to test the robustness of the relation between total factor productivity growth and inflation … period 1964-1980. The results confirm that the acceleration of inflation from 1964-1972 to 1973-1980 reduced total factor … effect of inflation is separated from the effects of technical change and economies of scale, the choice of functional form …
Persistent link: https://www.econbiz.de/10005412823
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Inflation, Growth, and Credit Services
Gillman, Max; Kejak, Michal; Valentinyi, Akos - EconWPA - 2001
The empirical evidence suggests that there is a significant, negative relationship between inflation and economic …. Therefore the technology of the financial sector influences the velocity of money, and consequently, how inflation affects … generates an inflation-growth effect whose magnitude falls in the range found by the empirical studies. Moreover, in contrast to …
Persistent link: https://www.econbiz.de/10005556071
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The Dynamics of Currency Substitution, Asset Substitution and De facto Dollarization and Euroization in Transition Countries
Feige, Edgar L. - EconWPA - 2003
This paper presents new evidence on the dynamics of dollarization and euroization for twenty-five transition countries. Estimates of the amount of foreign currency in circulation (FCC) in transition countries are used to develop a new comprehensive dollarization index (CDI) and separate indices...
Persistent link: https://www.econbiz.de/10005076758
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The Dynamics of Currency Substitution, Asset Substitution and De facto Dollarization and Euroization in Transition Countrieses
Feige, Edgar L. - EconWPA - 2003
This paper presents new evidence on the dynamics of dollarization and euroization for twenty-five transition countries. Estimates of the amount of foreign currency in circulation (FCC) in transition countries are used to develop a new comprehensive dollarization index (CDI) and separate indices...
Persistent link: https://www.econbiz.de/10005076821
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Substituting a Substitute Currency – The Case of Estonia
Heimonen, Kari - EconWPA - 2002
This study evaluates substitution of foreign currency balances in Estonia, a transition economy neighbouring countries participating in EMU. The focus is on substitution between dollar and euro balances in the three basic functions of money – unit of account, store of value and means of...
Persistent link: https://www.econbiz.de/10005125495
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Third-Currency Effects in a Tri-Polar Model of Foreign Exchange
Melecky, Martin - EconWPA - 2005
This paper investigates possible contribution of third-currency effects to exchange rate movements. It reopens the subject of currency substitution and examines whether the third-currency effects change when the third-currency is a complement as opposed to when it is a substitute for currencies...
Persistent link: https://www.econbiz.de/10005125518
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Monetary Policy Shocks in a Tri-Polar Model of Foreign Exchange
Melecky, Martin - EconWPA - 2005
This paper investigates effects of third-currency monetary policy shocks on exchange rates. For this purpose we setup a structural VAR model containing the exchange rates of the three major currencies – the U.S. dollar, the euro and the Japanese yen – and short-term interest rates on the...
Persistent link: https://www.econbiz.de/10005125529
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Unofficial Dollarization in Latin America: Currency Substitution, Network Externalities and Irreversibility
Feige, Edgar L.; Šošiæ, Vedran; Faulend, Michael; … - EconWPA - 2002
We examine the extent, causes and consequences of the use of foreign currency as a co-circulating medium of exchange and store of value in Latin America. Using new estimates of the amount of foreign currency in circulation in the form of US dollars, we obtain unique measures of currency...
Persistent link: https://www.econbiz.de/10005556619
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Currency Substitution, Unoffical Dollarization and Estimates of Foreign Currency Held Abroad: The Case of Croatia
Feige, Edgar L.; Faulend, Michael; Sonje, Velimir; … - EconWPA - 2001
dollarization that has taken place in key countries around the world. Empirical estimates of foreign currency in circulation permits …
Persistent link: https://www.econbiz.de/10005556659
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Dollarization and Euroization in Transition Countries: Currency Substitution, Asset Substitution, Network Externalities and Irreversibility
Feige, Edgar; Dean, James - EconWPA - 2002
We examine the extent, causes and consequences of transition countries’ use of foreign currency as a co-circulating medium of exchange and store of value. Using new estimates of foreign cash in circulation, we obtain unique measures of currency substitution, asset substitution, and...
Persistent link: https://www.econbiz.de/10005119447