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Currency Substitution in Developing Countries; An Introduction
Calvo, Guillermo; Gramont, Carlos A. Végh - International Monetary Fund (IMF) - 1992
This paper reviews the main policy and analytical issues related to currency substitution in developing countries. The paper discusses, first, whether currency substitution should be encouraged or not; second, how the presence of currency substitution affects the choice of nominal anchors in...
Persistent link: https://www.econbiz.de/10005769096
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How Big (Small?) Are Fiscal Multipliers?
Ilzetzki, Ethan; Mendoza, Enrique G.; Gramont, Carlos … - International Monetary Fund (IMF) - 2011
, openness to trade, and public indebtedness. Based on a novel quarterly dataset of government expenditure in 44 countries, we … expenditure shocks depends crucially on key country characteristics, such as the level of development, exchange rate regime …
Persistent link: https://www.econbiz.de/10008876601