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Titre :
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Overshooting and Dollarization in the Democratic Republic of the Congo :
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Titre de série :
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Working Paper, 105
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Auteurs :
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Philippe Beaugrand
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Type de document :
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document électronique
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Editeur :
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[S.l.] : International Monetary Fund, 2003
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ISBN/ISSN/EAN :
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978-1-4518-5284-4
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Résumé :
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The paper develops an interpretation of volatile exchange rate movements in a dollarized economy with very high rates of inflation. Differences between the rate of inflation and currency depreciation (over- or undershooting of the exchange rate) are seen as a proxy for changes in the relative demand for domestic and foreign currency. A simple model is calibrated for the Democratic Republic of the Congo in the 1990s and is used to derive estimates of the rate of dollarization.
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