the government’s seigniorage requirement. Our results argue that a managed float, with little or no sterilization of …

the government`s seigniorage requirement. Our results argue that a managed float, with little or no sterilization of …

' seigniorage revenue, holding foreign money can be welfare generating if domestic currency depreciates vis-à-vis the currencies in …

collect seigniorage payments from other countries in the long run? Does the supplier of the international currency benefit … issues the relatively liquid asset gets seigniorage but its welfare may be less than under autarky because trade increases …

’ seigniorage revenue, holding foreign money can be welfare generating if domestic currency depreciates vis-à-vis the currencies in …

This paper empirically estimates the money demand function in Cambodia. We adopt the money demand model that includes … currency substitution phenomenon in Cambodia, it fails t-test. This may be due to the mix of both currency substitution and …

This paper examines whether the currency substitution (CS) phenomenon in Cambodia is in a hysteresis state. We employ a … existence of a network externality, thereby implying the hysteresis of the CS phenomenon in Cambodia. Given the characteristics … of the CS process in Cambodia, any measure or policy option to bring down the CS degree must be carefully considered. …