-high level of dollarization continues to create financial vulnerabilities, but that the overall level of currency mismatch has …

The paper identifies the contemporaneous relationship between exchange rate policy and liability dollarization using … three different definitions of dollarization. The presence of endogeneity makes the empirical identification elusive. We use … countries with high liability dollarization (external, public, or financial) tend to be more actively involved in exchange rate …

inflation. We discuss dollarization, administrative interventions, and other features complicating monetary policy transmission …

Dollarization in Russia increased rapidly during the early 1990s, but failed to come down in the second half of the … 1990s in spite of exchange rate stabilization. To explain this "dollarization hysteresis," this paper develops a model in … which network externalities in the demand for currency can generate multiple stable steady states for the dollarization …

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

countries and Liberia's own experience with dollarization, we conclude that Liberia should not adopt full dollarization for the … following reasons: (i) the alleged benefits voiced by the proponents of dollarization, in terms of enhanced fiscal discipline … and faster economic growth, are not supported by the empirical evidence; (ii) dollarization would increase the Liberian …