01402cas a2200241 a 4500 AALejournalIMF007761 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451977295 1018-5941 BD-DhAAL BD-DhAAL International Monetary Fund. Currency Substitution and Financial innovation. Washington, D.C. : International Monetary Fund, 1989. 1 online resource (24 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 presents a cash-in-advance framework, with variable income velocity, where the domestic effects, as well as the international transmission, of financial innovation can be analyzed. In particular, the discussion emphasizes the role of currency substitution and of cross-border transfers of seigniorage in determining the general equilibrium effects of financial innovation. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1989/039 Full text available on IMF http://elibrary.imf.org/view/journals/001/1989/039/001.1989.issue-039-en.xml IMF e-Library