This paper describes a simulation analysis of the likely effects of the introduction in the south Pacific region of an exchange rate adjustment mechanism based on the principles of the European Monetary System (EMS), which is intended to reduce fluctuations in exchange rates within a group of...

This study measures the degree of dollarization in North Korea using results from a survey of 231 North Korean refugees. Specifically, we compare foreign currency use of households as both store-of-value substitutes (i.e., asset substitution) and transaction substitutes (i.e., currency...