Overshooting and Dollarization in the Democratic Republic of the Congo

The paper develops an interpretation of volatile exchange rate movements in a dollarized economy with very high rates of inflation. Differences between the rate of inflation and currency depreciation (over- or undershooting of the exchange rate) are seen as a proxy for changes in the relative demand for domestic and foreign currency. A simple model is calibrated for the Democratic Republic of the Congo in the 1990s and is used to derive estimates of the rate of dollarization

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Year of publication:	[2021]
Authors:	Beaugrand, Philippe
Publisher:	[S.l.] : SSRN
Subject:	Kongo (Demokratische Republik) \| Congo (Democratic Republic) \| Währungssubstitution \| Currency substitution \| Overshooting

Extent:	1 Online-Ressource (27 p)
Series:	IMF Working Paper, Vol. , pp. 1-27, 2003
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments May 2003 erstellt
Other identifiers:	10.2139/ssrn.879181 [DOI]
Classification:	E31 - Price Level; Inflation; Deflation ; E50 - Monetary Policy, Central Banking and the Supply of Money and Credit. General
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013318000