出版社：Ege University, Faculty of Economics and Administrative Sciences
摘要：Monetary theory traditionally assumes that economic agents hold the domestic currency for transactions and speculative purposes. However the widespread financial innovations has made themovements of funds and transfer of information across markets more rapid and less costly, leading to an increased degree of currency substitution. Currency substitution has important implications for the conduct of monetary policy, exchange rate determination and stability of demand for money functions. This study aims to provide an elaborate survey of the implications of currency substitution.
Loading...
