reducing the dollar funding pressures abroad and stresses in money markets. The central bank dollar swap facilities are an …

Dollarization, in a broad sense, is increasingly a defining characteristic of many emerging market economies. How … dollarization that is broad both conceptually and in terms of country coverage. We use this measure to identify trends in the … evolution of dollarization in the developing world in the last two decades, and to ascertain the consequences that dollarization …

We study the effects of an anticipated dollarization, announced today but planned to be implemented at some future date …, in a simple open-economy model. Motivated by the profile of countries considering dollarization we make the following …, without dollarization monetary policy finances a deficit via seignorage. We focus on the pre-dollarization period. Our results …