01620cas a2200241 a 4500 AALejournalIMF002076 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451852196 1018-5941 BD-DhAAL BD-DhAAL Rodriguez, Carlos. Money and Credit Under Currency Substitution / Carlos Rodriguez. Washington, D.C. : International Monetary Fund, 1992. 1 online resource (18 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper examines the effects on the supply of money and credit of a repatriation of foreign assets in an economy subject to currency substitution. In the absence of 100 percent reserve requirements, such a change in the location of deposits, which is not compensated by an increase in money demand, induces a credit boom that works itself out through a transitory current account deficit and real currency appreciation. These results are illustrated with data from the recent experience in Argentina and Peru where local banks have been authorized to capture dollar deposits from residents. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1992/099 Full text available on IMF http://elibrary.imf.org/view/journals/001/1992/099/001.1992.issue-099-en.xml IMF e-Library