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Munich Personal RePEc Archive Currency Substitution in Developing Countries: An Introduction Calvo, Guillermo and Vegh, Carlos May 1992 Online at http://mpra.ub.uni-muenchen.de/20338/ MPRA Paper No. 20338, posted 31. January 2010 / 00:12

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Page 1: Currency Substitution in Developing Countries: An Introduction · 2017. 5. 5. · models suggest that the higher the elasticity of substitution between the two currencies, the higher

MPRAMunich Personal RePEc Archive

Currency Substitution in DevelopingCountries: An Introduction

Calvo, Guillermo and Vegh, Carlos

May 1992

Online at http://mpra.ub.uni-muenchen.de/20338/

MPRA Paper No. 20338, posted 31. January 2010 / 00:12

http://mpra.ub.uni-muenchen.de/
http://mpra.ub.uni-muenchen.de/20338/
Page 2: Currency Substitution in Developing Countries: An Introduction · 2017. 5. 5. · models suggest that the higher the elasticity of substitution between the two currencies, the higher
Page 3: Currency Substitution in Developing Countries: An Introduction · 2017. 5. 5. · models suggest that the higher the elasticity of substitution between the two currencies, the higher
Page 4: Currency Substitution in Developing Countries: An Introduction · 2017. 5. 5. · models suggest that the higher the elasticity of substitution between the two currencies, the higher
Page 5: Currency Substitution in Developing Countries: An Introduction · 2017. 5. 5. · models suggest that the higher the elasticity of substitution between the two currencies, the higher
Page 6: Currency Substitution in Developing Countries: An Introduction · 2017. 5. 5. · models suggest that the higher the elasticity of substitution between the two currencies, the higher
Page 7: Currency Substitution in Developing Countries: An Introduction · 2017. 5. 5. · models suggest that the higher the elasticity of substitution between the two currencies, the higher
Page 8: Currency Substitution in Developing Countries: An Introduction · 2017. 5. 5. · models suggest that the higher the elasticity of substitution between the two currencies, the higher
Page 9: Currency Substitution in Developing Countries: An Introduction · 2017. 5. 5. · models suggest that the higher the elasticity of substitution between the two currencies, the higher
Page 10: Currency Substitution in Developing Countries: An Introduction · 2017. 5. 5. · models suggest that the higher the elasticity of substitution between the two currencies, the higher
Page 11: Currency Substitution in Developing Countries: An Introduction · 2017. 5. 5. · models suggest that the higher the elasticity of substitution between the two currencies, the higher
Page 12: Currency Substitution in Developing Countries: An Introduction · 2017. 5. 5. · models suggest that the higher the elasticity of substitution between the two currencies, the higher
Page 13: Currency Substitution in Developing Countries: An Introduction · 2017. 5. 5. · models suggest that the higher the elasticity of substitution between the two currencies, the higher
Page 14: Currency Substitution in Developing Countries: An Introduction · 2017. 5. 5. · models suggest that the higher the elasticity of substitution between the two currencies, the higher
Page 15: Currency Substitution in Developing Countries: An Introduction · 2017. 5. 5. · models suggest that the higher the elasticity of substitution between the two currencies, the higher
Page 16: Currency Substitution in Developing Countries: An Introduction · 2017. 5. 5. · models suggest that the higher the elasticity of substitution between the two currencies, the higher
Page 17: Currency Substitution in Developing Countries: An Introduction · 2017. 5. 5. · models suggest that the higher the elasticity of substitution between the two currencies, the higher
Page 18: Currency Substitution in Developing Countries: An Introduction · 2017. 5. 5. · models suggest that the higher the elasticity of substitution between the two currencies, the higher
Page 19: Currency Substitution in Developing Countries: An Introduction · 2017. 5. 5. · models suggest that the higher the elasticity of substitution between the two currencies, the higher
Page 20: Currency Substitution in Developing Countries: An Introduction · 2017. 5. 5. · models suggest that the higher the elasticity of substitution between the two currencies, the higher
Page 21: Currency Substitution in Developing Countries: An Introduction · 2017. 5. 5. · models suggest that the higher the elasticity of substitution between the two currencies, the higher
Page 22: Currency Substitution in Developing Countries: An Introduction · 2017. 5. 5. · models suggest that the higher the elasticity of substitution between the two currencies, the higher
Page 23: Currency Substitution in Developing Countries: An Introduction · 2017. 5. 5. · models suggest that the higher the elasticity of substitution between the two currencies, the higher
Page 24: Currency Substitution in Developing Countries: An Introduction · 2017. 5. 5. · models suggest that the higher the elasticity of substitution between the two currencies, the higher
Page 25: Currency Substitution in Developing Countries: An Introduction · 2017. 5. 5. · models suggest that the higher the elasticity of substitution between the two currencies, the higher
Page 26: Currency Substitution in Developing Countries: An Introduction · 2017. 5. 5. · models suggest that the higher the elasticity of substitution between the two currencies, the higher
Page 27: Currency Substitution in Developing Countries: An Introduction · 2017. 5. 5. · models suggest that the higher the elasticity of substitution between the two currencies, the higher
Page 28: Currency Substitution in Developing Countries: An Introduction · 2017. 5. 5. · models suggest that the higher the elasticity of substitution between the two currencies, the higher
Page 29: Currency Substitution in Developing Countries: An Introduction · 2017. 5. 5. · models suggest that the higher the elasticity of substitution between the two currencies, the higher
Page 30: Currency Substitution in Developing Countries: An Introduction · 2017. 5. 5. · models suggest that the higher the elasticity of substitution between the two currencies, the higher
Page 31: Currency Substitution in Developing Countries: An Introduction · 2017. 5. 5. · models suggest that the higher the elasticity of substitution between the two currencies, the higher
Page 32: Currency Substitution in Developing Countries: An Introduction · 2017. 5. 5. · models suggest that the higher the elasticity of substitution between the two currencies, the higher
Page 33: Currency Substitution in Developing Countries: An Introduction · 2017. 5. 5. · models suggest that the higher the elasticity of substitution between the two currencies, the higher

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