TY  - JOUR
AU  - Giovannini,Alberto
TI  - Currency Substitution and the Fluctuations of Foreign-Exchange Reserves with Credibly Fixed Exchange Rates
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 3636
PY  - 1991
Y2  - February 1991
UR  - http://www.nber.org/papers/w3636
L1  - http://www.nber.org/papers/w3636.pdf
N1  - Author contact info:
Alberto Giovannini
Unifortune Asset Management
Via Donizetti 53
20122 Milano, Italy
E-Mail: alberto.giovannini@alum.mit.edu
AB  - This paper studies the fluctuations of foreign exchange reserves under a regime of credibly fixed exchange rates. The paper considers a variety of assumptions on the determinants of money demand and currency substitution.
ER  -