Riding the wave: monetary responses to aid surges in low-income countries
We focus on the management of highly persistent shocks to aid flows, including HIPC or MDG-related increases in net flows, in the presence of currency substitution by the domestic private sector. Such shocks have beneficent long-run effects, but when currency substitution is high they can produce dr...
| Main Authors: | , , , |
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| Format: | Working paper |
| Language: | English |
| Published: |
2006
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| Subjects: |