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This paper examines if dollarization has had a positive impact on the macroeconomic stability of Latin American … countries. Dollarization refers to either the official or unofficial replacement of local currencies with the U.S. dollar …. Currently four Latin American countries are officially dollarized and the rest experience varying levels of unofficial …
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held, and of the amount held abroad. Most macroeconomic models that address the role of outside money as a determinant of …
Persistent link: https://www.econbiz.de/10005352832
This paper presents a new method to estimate the amount of U.S. currency held abroad. The method exploits the fact the Federal Reserve System is the major processor of currency for depository institutions. The method exploits differentials across denominations in the ratios of shipments to...
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The rapid growth of demand for U.S. currency over the past two decades, especially the proportion estimated to be held abroad, has posed challenges for the Federal Reserve in meeting its congressionally mandated responsibilities for currency availability and distribution. Those challenges lie in...
Persistent link: https://www.econbiz.de/10005713603
An argument that what is essential in any arbitrary measure--including measures of value--is that they can be counted on to convey accurate and consistent information. When a central bank tolerates inflation, it reduces an economy's ability to make decisions based on value.
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cost and efficiency gains to contribute to their bottom lines. With this commonplace use of electronic money, you might …
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