Este capítulo analiza el proceso de dolarización experimentado en el Perú y discute la efectividad de las medidas de política que han apuntalado su reversión, aún incompleta. Para ello, se describen las condiciones ...

We evaluate the implications of financial de-dollarization on the strength of balance sheet effects in a small open economy following an unanticipated shock to the foreign risk-free interest rate. In particular, we extend ...

In this chapter we combine portfolio decisions of individuals and invoicing decisions of firms into a general equilibrium cash-in-advance monetary model to explain the pattern of dollarization across types of goods. This ...

We reappraise the cross-country evidence on the dollarization of domestic financial systems in emerging market economies. Amidst some striking heterogeneity of patterns across emerging regions, we identify a broad global ...

This chapter models an emerging economy with financial dollarization features within an optimizing, stochastic general equilibrium setup. One key result in this framework is that unexpected nominal exchange rate fluctuations ...