De-dollarizing the Peruvian economy: a portfolio approach
Descripción del Articulo
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 emphasi...
| Autores: | , |
|---|---|
| Formato: | documento de trabajo |
| Fecha de Publicación: | 2003 |
| Institución: | Universidad del Pacífico |
| Repositorio: | UP-Institucional |
| Lenguaje: | inglés |
| OAI Identifier: | oai:repositorio.up.edu.pe:11354/279 |
| Enlace del recurso: | http://hdl.handle.net/11354/279 |
| Nivel de acceso: | acceso abierto |
| Materia: | Política monetaria |
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| dc.title.es_PE.fl_str_mv |
De-dollarizing the Peruvian economy: a portfolio approach |
| title |
De-dollarizing the Peruvian economy: a portfolio approach |
| spellingShingle |
De-dollarizing the Peruvian economy: a portfolio approach Morón, Eduardo Política monetaria |
| 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 |
| author |
Morón, Eduardo |
| author_facet |
Morón, Eduardo Castro, Juan Francisco |
| author_role |
author |
| author2 |
Castro, Juan Francisco |
| author2_role |
author |
| dc.contributor.author.fl_str_mv |
Morón, Eduardo Castro, Juan Francisco |
| dc.subject.es_PE.fl_str_mv |
Política monetaria |
| topic |
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. |
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2003 |
| dc.date.accessioned.none.fl_str_mv |
2014-06-30T17:58:03Z |
| dc.date.available.none.fl_str_mv |
2014-06-30T17:58:03Z |
| dc.date.issued.fl_str_mv |
2003-09 |
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info:eu-repo/semantics/workingPaper |
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workingPaper |
| dc.identifier.uri.none.fl_str_mv |
http://hdl.handle.net/11354/279 |
| dc.identifier.citation.es_PE.fl_str_mv |
Morón, E., & Castro, J. (2003). De-dollarizing the Peruvian economy: a portfolio approach. Lima: Universidad del Pacífico, Centro de Investigación. Recuperado de http://hdl.handle.net/11354/279 |
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http://hdl.handle.net/11354/279 |
| identifier_str_mv |
Morón, E., & Castro, J. (2003). De-dollarizing the Peruvian economy: a portfolio approach. Lima: Universidad del Pacífico, Centro de Investigación. Recuperado de http://hdl.handle.net/11354/279 |
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eng |
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eng |
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Documento de discusión;n° DD/03/01 |
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Universidad del Pacífico. Centro de Investigación |
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PE |
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Morón, EduardoCastro, Juan Francisco2014-06-30T17:58:03Z2014-06-30T17:58:03Z2003-09http://hdl.handle.net/11354/279Morón, E., & Castro, J. (2003). De-dollarizing the Peruvian economy: a portfolio approach. Lima: Universidad del Pacífico, Centro de Investigación. Recuperado de http://hdl.handle.net/11354/279Financial 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.application/pdfengUniversidad del Pacífico. 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La información contenida en este registro es de entera responsabilidad de la institución que gestiona el repositorio institucional donde esta contenido este documento o set de datos. El CONCYTEC no se hace responsable por los contenidos (publicaciones y/o datos) accesibles a través del Repositorio Nacional Digital de Ciencia, Tecnología e Innovación de Acceso Abierto (ALICIA).
