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...
| Main Author: | |
|---|---|
| Format: | Journal |
| Language: | English |
| Published: |
Washington, D.C. :
International Monetary Fund,
1995.
|
| Series: | IMF Working Papers; Working Paper ;
No. 1995/111 |
| Online Access: | Full text available on IMF |