wages, directed lending and dollarization allow for studying implications of activist wage policy, state program lending …, and dollarization for macroeconomic stability and the strength of the policy transmission mechanism …

We re-appraise the cross-country evidence on the dollarization of financial systems in emerging market economies …. Amidst striking heterogeneity of patterns across regions, we identify a broad global trend towards financial sector de-dollarization … from the early 2000s to the eve of the global financial crisis of 2008-09. Since then, de-dollarization has broadly stalled …

instruments to hedge exchange rate risks, together with fear of floating and dollarization, have been stressed as factors that … in two highly dollarized economies (Peru and Bolivia) vis-à-vis two economies with low levels of dollarization (Chile and … Colombia), we found that, while dollarization imposes differences in both the transmission capacity of monetary policy and its …

Peru has successfully pursued a market-driven financial de-dollarization during the last decade. Dollarization of … commercial credit and time and saving deposits. The analysis presented in this paper confirms that de-dollarization has been … management of reserve requirements), and the development of the capital market in soles. Further de-dollarization efforts could …

with different degrees of liability dollarization. The paper answers the question of how efficient it is to use inflation … targeting under high liability dollarization. Our findings suggest that it might be optimal to follow a nonlinear policy rule …

, rigidities in public finances, and high financial dollarization. Institutional factors restricted the government''s ability to … deteriorating fiscal stance associated with the costs of the financial crisis. Financial dollarization increasingly reduced the …