Currency substitution and indexed money

Francisco Carneiro and Joao Faria

Applied Economics Letters, 1997, vol. 4, issue 3, 163-166

Abstract: The paper tests the hypothesis that the presence of indexed money may rule out a process of currency substitution in contexts of persistent high inflation. Estimates for the case of Brazil using monthly data for the period 1985 to 1993 and cointegration techniques offer support for that.

Date: 1997
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Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:4:y:1997:i:3:p:163-166

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DOI: 10.1080/135048597355438

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