Currency substitution and the demand for money in Mexico
Year: 2003
Type: article
Abstract: Demand functions for broad money and foreign currency deposits are estimated using quarterly Mexican data for the period 1978:1 to 2000:4. Significant evidence is found for currency substitution in the broad money equation. While the demand function for foreign currency deposits is harder to interpret, significant evidence of substitution between domestic money balances and US$ deposits is found.
Source: Applied Economics Letters
Authors: Miriam Chau RodrÍGuez, Paul Turner
Institutions: Tecnológico de Monterrey, University of Sheffield
Language: English
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W2033815151