Highly volatile exchange rates don't come cheap in economies with large liability dollarization ratios. Therefore …

This paper presents new evidence on the dynamics of dollarization and euroization for twenty-five transition countries … dollarization index (CDI) and separate indices of currency substitution (CSI) and asset substitution (ASI). When the CDI is compared … to the traditional dollarization index (DI) that relies solely on foreign currency deposits as a proxy for the extent of …

This paper presents new evidence on the dynamics of dollarization and euroization for twenty-five transition countries … dollarization index (CDI) and separate indices of currency substitution (CSI) and asset substitution (ASI). When the CDI is compared … to the traditional dollarization index (DI) that relies solely on foreign currency deposits as a proxy for the extent of …

currency substitution, asset substitution, and dollarization, and examine the consequences of network externalities for …

dollarization that has taken place in key countries around the world. Empirical estimates of foreign currency in circulation permits … refined definitions of unofficial dollarization indices as well as new measures of currency and asset substitution and bank … credibility indices. The new unofficial dollarization indices are compared to the commonly used IMF dollarization measures and are …

simultaneously discarded. Often, dollarization becomes an attractive option for developing countries that have experienced successive … equilibrium, but trigger a recession and increased unemployment. Since this, too, is unacceptable, dollarization turns out to be a …

US dollars, we obtain unique measures of currency substitution, asset substitution, dollarization, and bank credibility …