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We develop a theoretical framework that encompasses four distinct motives for dollarization and...

This paper proposes a new framework for the analysis of public sector debt sustainability. The...

We analyze the costs and benefits of full dollarization compared to its closest alternative, a...

Episodes of increased global risk aversion, also known as risk-off episodes, have become more...

This paper studies the behavior of interest rate differentials in Mexico during the 1992-94...

This paper examines the benefits from hedging the currency exposure of international investments...