Currency substitution and financial repression

Show simple item record Gupta, Rangan 2012-11-02T12:06:25Z 2012-11-02T12:06:25Z 2011-03
dc.description.abstract In this paper, we use a general equilibrium overlapping generations monetary endogenous growth model of a small open economy, to analyze whether ¯nancial repression, measured via the \high" mandatory reserve-deposit requirements of ¯nancial intermediaries, is an optimal response of a consolidated government following an increase in the degree of currency substitution. We ¯nd that higher currency substitution can yield higher reserve requirements, but, the result depends crucially on how the consumer weighs money in the utility function relative to domestic and foreign consumptions, and also the size of the government. en_US
dc.description.uri en_US
dc.identifier.citation Gupta, R 2011, 'Currency substitution and financial repression', International Economic Journal, vol. 25, no. 1, pp.47-61. en_US
dc.identifier.issn 1016-8737 (print)
dc.identifier.issn 1743-517x (online)
dc.identifier.other 10.1080/10168731003753875
dc.language.iso en en_US
dc.publisher Routledge en_US
dc.rights © Taylor & Francis. This is an electronic version of an article published in International Economic Journal, vol. 25, no. 1, pp. 47-61, March 2011. International Economic Journal is available online at: en_US
dc.subject Currency substitution en_US
dc.subject Endogenous growth models en_US
dc.subject Financial repression en_US
dc.subject Small open economy en_US
dc.subject Public finance en_US
dc.title Currency substitution and financial repression en_US
dc.type Postprint Article en_US

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