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) high levels of dollarization. Previous studies on dollarization in Cambodia have largely focused on examining its causes … and estimating seigniorage losses. As an attempt to further explore the effects of dollarization in Cambodia, this paper …
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This paper investigates the relationship among dollarization, inflation and interest rate in Nigeria for the period … autoregression (SVAR). Empirical evidence shows that dollarization index has been on the increase in Nigeria since 1994, despite …, inflation and interest rate. The Granger causality test reveals that there is a unidirectional relationship from dollarization …
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We develop a model of monetary policy with a small departure from the basic New Keynesian (NK) model. In this model, the central bank can set the interest rate on bank reserves and the nominal stock of bank reserves independently, because these reserves reduce the costs of banking (i.e., have a...
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