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Convertibility Risk High quality books

Convertibility Risk
By:Mr. Alex Mourmouras,Mr. Stabley W. Black,Mr. Charalambos Christofides
Published on 2001-12-01 by International Monetary Fund

This paper presents theoretical work linking money demand to the perceptions of households about the risk that domestic currency may become inconvertible or that it may be devalued. An empirical investigation of the size of this effect is carried out using both cross section data and then monthly data for Korea to estimate an augmented demand for money equation. It is found that the fear of inconvertibility arising from the 1997 Korean currency crisis may have caused broad money demand to fall by 4-5 percentage points, equivalent to the loss of reserves of $6-72 billion (or about 30 percent of reserves as measured at end-November 1997).

This Book was ranked at 3 by Google Books for keyword Currency crisis.

Book ID of Convertibility Risk's Books is Kmg05Z_hSQcC, Book which was written byMr. Alex Mourmouras,Mr. Stabley W. Black,Mr. Charalambos Christofideshave ETAG "WryQ6qFbYmM"

Book which was published by International Monetary Fund since 2001-12-01 have ISBNs, ISBN 13 Code is 9781451919387 and ISBN 10 Code is 1451919387

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Book which have "29 Pages" is Printed at BOOK under CategoryBusiness and Economics

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