What people are saying - Write a review
We haven't found any reviews in the usual places.
CURRENCY SUBSTITUTION FINANCIAL DUALISM
A MODEL OF EXCHANGE RATE DETERMINATION
W SUMMARY AND CONCLUSION
1 other sections not shown
assets assume assumption behavior capital controls capital mobility causality coefficient of determination Conditional Money Demand cost of holding cross-correlation currency substitution currency substitution model demand for domestic demand for money deposits developing countries domestic and foreign domestic currency domestic money demand domestic residents efficient elasticity of currency elasticity of substitution equation Estimates for Conditional exchange rate determination exchange rate movements exogenous variables expected rate financial dualism fixed exchange rate flexible exchange rates foreign currency foreign exchange markets foreign interest rates foreign money functional form holdings of foreign implications income elasticity Korea and Taiwan monetary aggregates monetary approach monetary services money demand function money stock money supply monies official banking system opportunity cost optimal Parameter Estimates perfect substitutes presence of currency production function production function approach purchasing power parity quadratic function rational expectations relative statistically significant substitution and financial t-value Table unanticipated changes unorganized markets unorganized money markets