Currency substitution and financial repression

Gupta, Rangan

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dc.contributor.author	Gupta, Rangan
dc.date.accessioned	2012-11-02T12:06:25Z
dc.date.available	2012-11-02T12:06:25Z
dc.date.issued	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	http://www.tandfonline.com/loi/riej20	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.identifier.uri	http://hdl.handle.net/2263/20346
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: http://www.tandfonline.com/loi/riej20.	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