Currency Substitution and Inflation in Peru

Currency Substitution and Inflation in Peru
This paper shows that there is a long-run relationship between the expected rate of depreciation in the black-market-exchange rate and the ratio of domestic to foreign money in Peru; that is, the hypothesis of currency substitution can explain the behavior of real holdings of money in Peru. The paper also shows that, while the importance of... READ MORE...

Publication date: May 1992
ISBN 9781451979206
$15.00

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