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Central Banks as Dollar Lenders of Last Resort: Implications for Regulation and Reserve Holdings

Das, Mitali - 2023

countries, central bank holdings of dollar reserves are significantly correlated with the dollar-denominated bank borrowing of … stockpile of dollar reserves that allow it to serve as an ex post dollar lender of last resort. The model highlights a novel … externality: individual central banks may tend to over-accumulate dollar reserves, relative to what a global planner would choose …

Persistent link: https://www.econbiz.de/10015059785

Central Bank Balance Sheet Expansion in a Dollarized Economy: The Case of Ecuador

Erraez, Juan-Pablo - 2022

strong pressures on CBE's liquidity. Ultimately, such liquidity stress at the CBE translated into high cash inflows needs, i …

Persistent link: https://www.econbiz.de/10015059941

Euro's Challenge to the Dollar : Different Views from Economists and Evidence from COFER (Currency Composition of Foreign Exchange Reserves) and Other Data

Lim, Ewe-Ghee - 2006

Intro -- Contents -- I. INTRODUCTION -- II. WHY IS THERE A NEED FOR INTERNATIONAL MONEY? -- III. CONCEPTUAL FRAMEWORK-FACTORS THAT FACILITATE INTERNATIONAL CURRENCY STATUS -- IV. REASONS FOR THE DIFFERENT VIEWS -- V. EMPIRICAL EVIDENCE TO DATE -- VI. MEDIUM-TERM PROSPECTS FOR THE EURO -- VII....

Persistent link: https://www.econbiz.de/10012691027

Escaping the Financial Dollarization Trap: The Role of Foreign Exchange Intervention

Castillo, Paul - 2024

Financial dollarization is considered a source of macroeconomic instability in many emerging economies. Dollarization constrains the ability of central banks to stimulate output during economic downturns. In contrast to the conventional monetary transmission mechanism, a monetary policy...

Persistent link: https://www.econbiz.de/10015080299

A Fistful of Dollars

Igan, Deniz - 2009

Using detailed information on lobbying and mortgage lending activities, we find that lenders lobbying more on issues related to mortgage lending (i) had higher loan-to-income ratios, (ii) securitized more intensively, and (iii) had faster growing portfolios. Ex-post, delinquency rates are higher...

Persistent link: https://www.econbiz.de/10012677528

Adopting Full Dollarization in Postconflict Economies : Would the Gains Compensate for the Losses in Liberia?

Honda, Jiro - 2006

Intro -- Contents -- I. INTRODUCTION -- II. PROS OF DOLLARIZATION: ANALYTICAL CONSIDERATIONS AND EMPIRICAL EVIDENCE -- III. CONS OF DOLLARIZATION -- IV. CHOICES OF CURRENCY REGIMES IN POSTCONFLICT COUNTRIES -- V. CONCLUSIONS: IS LIBERIA A CANDIDATE FOR FULL, DE JURE DOLLARIZATION? -- References.

Persistent link: https://www.econbiz.de/10012691035

Analyzing Balance Sheet Vulnerabilities in a Dollarized Economy - The Case of Georgia.

Billmeier, Andreas - 2006

Intro -- Contents -- I. INTRODUCTION -- II. BACKGROUND -- III. ANALYTICAL FRAMEWORK, KEY CONCEPTS, AND DATA -- IV. FOREIGN CURRENCY MISMATCHES IN GEORGIA -- V. ADDRESSING BALANCE-SHEET VULNERABILITIES IN GEORGIA -- VI. CONCLUSIONS AND POLICY IMPLICATIONS -- REFERENCES.

Persistent link: https://www.econbiz.de/10012691088

Reducing Dollarization in the Caucasus and Central Asia

Cakir, Selim - 2022

Declining but still high dollarization rates in the Caucasus and Central Asia (CCA) region affect macroeconomic stability, monetary policy transmission, and financial sector development. Although several studies have investigated the dynamics of dollarization in the CCA, the relative roles of...

Persistent link: https://www.econbiz.de/10015060210

Accumulating Foreign Reserves Under Floating Exchange Rates

Gonçalves, Fernando M. - 2008

Official accumulation of foreign reserves may be perceived as interventions to influence the exchange rate, undermining the credibility of floating exchange rates and inflation targets. This paper develops a theoretical framework to study the interaction between reserve accumulation and monetary...

Persistent link: https://www.econbiz.de/10012677568

Monetary Transmission Mechanisms in Belarus

Maino, Rodolfo; Horváth, Balázs - International Monetary Fund (IMF) - 2006

We explore monetary policy transmission by estimating VAR impulse response functions to illustrate the Belarusian economy's response to unexpected changes in policy and exogenous variables. We find a significant exchange rate pass-through to prices, and interest rate policy following, rather...

Persistent link: https://www.econbiz.de/10005825964