Bibliograph

Macroeconomic implications of financial dollarization, the case of Uruguay, edited by Marco Piñón, Gaston Gelos, and Alejandro López-Mejía

Type

Label

Macroeconomic implications of financial dollarization, the case of Uruguay, edited by Marco Piñón, Gaston Gelos, and Alejandro López-Mejía

Language

eng

Bibliography note

Includes bibliographical references

resource.governmentPublication

international or intergovernmental publication

Illustrations

illustrations

Index

no index present

Literary Form

non fiction

Main title

Macroeconomic implications of financial dollarization

Nature of contents

bibliography

Oclc number

239631505

Responsibility statement

edited by Marco Piñón, Gaston Gelos, and Alejandro López-Mejía

Series statement

Occasional paper International Monetary Fund, 263

Sub title

the case of Uruguay

Summary

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

Table Of Contents

Overview, Marco Piñón, -, Pt. 1. Monetary policy in a dollarized economy, Inflation process in Uruguay, Gaston Gelos and Fernanda Rossi Iriondo, Pass-through, dollarization, and credibility in Uruguay, Alejandro López-Mejía, Alessandro Rebucci, and Carolina Saizar, Pt. 2. External linkages under dollarization, Role of bank lending in the transmission of macroeconomic shocks, Gaston Gelos and Marco Piñón, What is the degree of competition intensity in the Uruguayan banking system?, Gaston Gelos and Marco Piñón, What drives Uruguayan sovereign spreads? : The role of global factors and regional spillovers, Gustavo Adler and Stephanie Eble, Pt. 3. Financial vulnerabilities and insurance mechanisms, Has the Uruguayan financial system become more resilient to shocks? : An analysis adapting the Merton framework to a country without equity market data, Marcos Rietti Souto, Optimal level of reserves in financially dollarized economies : the case of Uruguay, Fernando M. Gonçalves

Classification