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Monetary Policy in Dollarized Economies

Author

Listed:
  • Mr. Adam Bennett
  • Mr. Eduardo Borensztein
  • Mr. Tomás J. T. Baliño

Abstract

Dollarization - the holding by residents of a substantial portion of their assets in foreign-currency-denominated assets- is a common feature of developing and transition economies, and therefore typical of many countries with IMF - supported adjustment programs. This paper analyzes policy issues that arise-and various monetary strategies that may be pursued- when the monetary sector is dollarized, and it considers the implications that dollarization has for the design of IMF programs.

Suggested Citation

  • Mr. Adam Bennett & Mr. Eduardo Borensztein & Mr. Tomás J. T. Baliño, 1999. "Monetary Policy in Dollarized Economies," IMF Occasional Papers 1999/003, International Monetary Fund.
    • Handle: RePEc:imf:imfops:1999/003
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