Exchange Rate Movements, Inflation Expectations, and Currency Substitution in Turkey /
This paper contains an empirical analysis of currency substitution in Turkey: a simple relationship between the share of foreign currency holdings in M2X on one side and movements in the exchange rate or inflation on the other is derived from a two-stage portfolio choice model. This relationship is...
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| Format: | Revija |
| Jezik: | English |
| Izdano: |
Washington, D.C. :
International Monetary Fund,
1995.
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| Serija: | IMF Working Papers; Working Paper ;
No. 1995/111 |
| Online dostop: | Full text available on IMF |