Assessing financial vulnerability in partial dollarized economies

dc.creator	Castro, Juan Francisco
dc.creator	Morón, Eduardo
dc.creator	Winkelried, Diego
dc.date	2004-11
dc.date.accessioned	2022-03-17T18:39:56Z
dc.date.available	2022-03-17T18:39:56Z
dc.identifier	http://hdl.handle.net/11354/281
dc.identifier.uri	http://biblioteca-repositorio.clacso.edu.ar/handle/CLACSO/52119
dc.description	The reduction of macroeconomic vulnerability in emerging markets is at the core of the research agenda.Liability dollarization plays a vital role and its implications have been addressed in the literature via “financial accelerator” mechanism. If we asses vulnerability in terms of the evolution of investment, we claim that, in absence of an asset price channel, departures from a pure float will mitigate vulnerability and improve welfare. Conversely, with an active asset price channel a tighter exchange rate policy will have marginal effects on welfare and vulnerability when compared to that associated to a reduction in liability dollarization.
dc.format	application/pdf
dc.format	application/pdf
dc.language	eng
dc.publisher	Universidad del Pacífico. Centro de Investigación
dc.rights	info:eu-repo/semantics/openAccess
dc.rights	Atribución-NoComercial-SinDerivadas 4.0 Internacional
dc.source	Repositorio de la Universidad del Pacífico - UP
dc.source	Universidad del Pacífico
dc.subject	Política monetaria
dc.title	Assessing financial vulnerability in partial dollarized economies
dc.type	info:eu-repo/semantics/workingPaper