De-dollarizing the Peruvian economy: a portfolio approach

Financial dollarization creates design problems for economic policy as increases the level of financial vulnerability. However, countries with high levels of dollarization have done almost nothing to reduce it. In this paper we study two ways to do it and we evaluate them within a mod...

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Detalles Bibliográficos
Autores principales: Morón, Eduardo, Castro, Juan Francisco
Formato: Libro
Lenguaje:Inglés
Publicado: 2014
Materias:
Política monetaria
Acceso en línea:http://hdl.handle.net/11354/279
http://biblioteca.clacso.edu.ar/gsdl/cgi-bin/library.cgi?a=d&c=co/co-019&d=11354279oai
Aporte de:
Red de Bibliotecas Virtuales de Ciencias Sociales (CLACSO) de Consejo Latinoamericano de Ciencias Sociales
id I16-R122-11354279oai
record_format dspace
institution Consejo Latinoamericano de Ciencias Sociales
institution_str I-16
repository_str R-122
collection Red de Bibliotecas Virtuales de Ciencias Sociales (CLACSO)
language Inglés
topic Política monetaria
spellingShingle Política monetaria
Morón, Eduardo
Castro, Juan Francisco
De-dollarizing the Peruvian economy: a portfolio approach
topic_facet Política monetaria
description Financial dollarization creates design problems for economic policy as increases the level of financial vulnerability. However, countries with high levels of dollarization have done almost nothing to reduce it. In this paper we study two ways to do it and we evaluate them within a model that emphasizes a portfolio approach. We calibrate the model to replicate the Peruvian economy. The two policy options that we consider are: (i) increasing the risk of dollar deposits, reducing the level of coverage in the safety net mechanism; (ii) increasing the relative volatility of inflation vis-à-vis real depreciation. Our results show that the former has the potential risk of lowering the level of financial intermediation, whereas the second might be more effective to de-dollarize the economy.
format Libro
Libro
author Morón, Eduardo
Castro, Juan Francisco
author_facet Morón, Eduardo
Castro, Juan Francisco
author_sort Morón, Eduardo
title De-dollarizing the Peruvian economy: a portfolio approach
title_short De-dollarizing the Peruvian economy: a portfolio approach
title_full De-dollarizing the Peruvian economy: a portfolio approach
title_fullStr De-dollarizing the Peruvian economy: a portfolio approach
title_full_unstemmed De-dollarizing the Peruvian economy: a portfolio approach
title_sort de-dollarizing the peruvian economy: a portfolio approach
publishDate 2014
url http://hdl.handle.net/11354/279
http://biblioteca.clacso.edu.ar/gsdl/cgi-bin/library.cgi?a=d&c=co/co-019&d=11354279oai
work_keys_str_mv AT moroneduardo dedollarizingtheperuvianeconomyaportfolioapproach
AT castrojuanfrancisco dedollarizingtheperuvianeconomyaportfolioapproach
bdutipo_str Repositorios
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