degree of dollarization empirically. Our results show that Cambodia has been virtually fully dollarized since 1995. Against a …

, which achieved almost complete dollarization during 1991-95, the authors review recent developments in the literature on … dollarization and examine the costs and benefits of dollarization in Cambodia, including the ensuing macroeconomic policy … degree of dollarization. In addition to this analysis, the authors present a short description of Cambodia’s economic …

inflation combined with a free float seems to be the ultimate option. The paper shows how to design and operationalize such a …

, and inflation. The authors develop a framework that emphasizes the different roles of monetary and fiscal policy and apply …

inflation rates mainly to make up for, and to perhaps exploit, lagging internal and external liberalization in their economies … changes in institutions, suggest that incentives may be diminishing, but not to the point where inflation levels below 5 … inflation, and enhancements to central bank independence could help shield these central banks from pressures. …

dollarization does not preclude monetary policy from achieving its primary objective of price stability, and that successful and …

This paper assesses the benefits and risks associated with dollarization of the banking system. We provide novel … empirical evidence on the determinants of dollarization, its role in promoting financial development, and on whether … dollarization is associated with financial instability. We find that: (a) the credibility of macroeconomic policy and the quality of …

with a lag of at least three quarters, with inflation taking seven quarters to respond. Inflation is inertial and … persistent when it sets in, irrespective of the source. Exchange rate pass-through to domestic inflation is low. Inflation turns …

Money has only limited information value for future inflation in Ghana over a typical monetary policy implementation …) are shown to be important predictors of future price changes. Inflation inertia is high and inflation expectations are … largely based on backward-looking information, suggesting that inflation expectations are not well anchored and hence more is …