Macroeconomic implications of financial dollarization
Subtitle: the case of Uruguay
By: edited by Marco Piñón, Gaston Gelos, and Alejandro López-Mejía.
Contributors: Piñon, Marco.; Gelos, Gaston.; López Mejía, Alejandro.; International Monetary Fund.
Series: Occasional paper -- 263; Occasional paper (International Monetary Fund) -- 263.
Publisher: International Monetary Fund
Published: 2008
Place of publication: Washington, DC
Language: eng
Number of pages: 71
ISBN-13: 9781589067271
Subjects: Dollarization -- Uruguay; Monetary policy -- Uruguay; Banks and banking -- Uruguay; Finance -- Uruguay
Description: Uruguay has experienced a remarkable recovery since the 2002 crisis, supported by sound policies and favorable external conditions. With the framework put in place in 2002, Uruguay abandoned an exchange rate peg in favor of a free float, adopted a monetary regime initially based on money targets, improved financial prudential norms and supervision, and accumulated significant central bank reserves. Against this background, Uruguay now faces issues beyond those addressed to stabilize the economy . As the country pursues key post-crisis monetary and financial reforms, the analysis provided in this paper comments on the ongoing efforts to move toward a fully fledged inflation-targeting regime and develop interest rates as monetary instruments, as well as on the preparedness of the financial system to deal with shocks, and the adequacy of current central bank reserves.--Publisher's description.
Notes: Includes bibliographical references.
Table of contents: title: Marco Piñón -- Pt. 1. Monetary policy in a dollarized economy; title: Marco Piñón -- Pt. 1. Monetary policy in a dollarized economy -- Gaston Gelos and Fernanda Rossi Iriondo; title: Marco Piñón -- Pt. 1. Monetary policy in a dollarized economy -- Gaston Gelos and Fernanda Rossi Iriondo -- Alejandro López-Mejía, Alessandro Rebucci, and Carolina Saizar -- Pt. 2. External linkages under dollarization; title: Marco Piñón -- Pt. 1. Monetary policy in a dollarized economy -- Gaston Gelos and Fernanda Rossi Iriondo -- Alejandro López-Mejía, Alessandro Rebucci, and Carolina Saizar -- Pt. 2. External linkages under dollarization -- Gaston Gelos and Marco Piñón; title: Marco Piñón -- Pt. 1. Monetary policy in a dollarized economy -- Gaston Gelos and Fernanda Rossi Iriondo -- Alejandro López-Mejía, Alessandro Rebucci, and Carolina Saizar -- Pt. 2. External linkages under dollarization -- Gaston Gelos and Marco Piñón -- Gaston Gelos and Marco Piñón; title: Marco Piñón -- Pt. 1. Monetary policy in a dollarized economy -- Gaston Gelos and Fernanda Rossi Iriondo -- Alejandro López-Mejía, Alessandro Rebucci, and Carolina Saizar -- Pt. 2. External linkages under dollarization -- Gaston Gelos and Marco Piñón -- Gaston Gelos and Marco Piñón -- Gustavo Adler and Stephanie Eble -- Pt. 3. Financial vulnerabilities and insurance mechanisms; title: Marco Piñón -- Pt. 1. Monetary policy in a dollarized economy -- Gaston Gelos and Fernanda Rossi Iriondo -- Alejandro López-Mejía, Alessandro Rebucci, and Carolina Saizar -- Pt. 2. External linkages under dollarization -- Gaston Gelos and Marco Piñón -- Gaston Gelos and Marco Piñón -- Gustavo Adler and Stephanie Eble -- Pt. 3. Financial vulnerabilities and insurance mechanisms -- Marcos Rietti Souto; title: Marco Piñón-- Pt. 1. Monetary policy in a dollarized economy-- Gaston Gelos and Fernanda Rossi Iriondo-- Alejandro López-Mejía, Alessandro Rebucci, and Carolina Saizar-- Pt. 2. External linkages under dollarization-- Gaston Gelos and Marco Piñón-- Gaston Gelos and Marco Piñón-- Gustavo Adler and Stephanie Eble-- Pt. 3. Financial vulnerabilities and insurance mechanisms-- Marcos Rietti Souto-- Fernando M. Gonçalves.