Addicted to Dollars *

@inproceedings{Reinhart2014AddictedTD,
  title={Addicted to Dollars *},
  author={Carmen M. Reinhart},
  year={2014}
}
Many emerging market economies are dollarized in varying degrees. How important is this for the conduct of monetary policy and choice of exchange rate regime? We propose a composite measure of dollarization, identify its major trends, and ascertain its impact on the effectiveness of monetary and exchange rate policy. We find that, contrary to the presumption in the literature, a high degree of dollarization does not pose an obstacle to monetary control or to disinflation. A high level of… CONTINUE READING

References

Publications referenced by this paper.
Showing 1-10 of 44 references

Controlling Currency Mismatches in Emerging Economies

Goldstein, Morris, Philip Turner
draft, Institute of International Economics, • 2003

Dollarization of the Banking System: Good or Bad? IMF

De Nicoló, Gianni, Patrick Honohan, Alain Ize
Working Paper, • 2003
View 2 Excerpts

Network Externalities and Dollarization Hysteresis: The Case of Russia

Oomes, Nienke
IMF Working Paper • 2003

Unofficial Dollarization in Latin America, in D

Feige, L Edgar, Michael Faulend, Velimir Sonje, Vedran Sosic
Salvatore et al. (eds) The Dollarization Debate, • 2003
View 2 Excerpts

The Modern History of Exchange Rate Arrangements: A Reinterpretation

Reinhart, Carmen, Kenneth Rogoff
NBER Working Paper 8963, • 2002

A plan B for Argentina

Hausmann, Ricardo
draft, Kennedy School of Government, • 2001