Full dollarization versus monetary union: the case of Ecuador

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cepal.articleNo6
cepal.bibLevelSección o Parte de un Documento
cepal.callNumberLC/PUB.2023/15-P
cepal.docTypeRevistas
cepal.jelCodeC12
cepal.jelCodeC22
cepal.jelCodeE31
cepal.jelCodeE32
cepal.jelCodeF15
cepal.jelCodeF45
cepal.jobNumber06bonilla_REV-140E
cepal.physicalDescriptiongráficos, tablas
cepal.regionalOfficeSantiago
cepal.sdg1
cepal.topicEngFINANCIAL AND MONETARY SECTOR
cepal.topicEngMACROECONOMICS
cepal.topicSpaSECTOR FINANCIERO Y MONETARIO
cepal.topicSpaMACROECONOMÍA
cepal.workareaEngECONOMIC DEVELOPMENT
cepal.workareaSpaDESARROLLO ECONÓMICO
dc.contributor.authorVillacreses, Diego
dc.contributor.authorBonilla-Bolaños, Andrea
dc.coverage.spatialEngECUADOR
dc.coverage.spatialSpaECUADOR
dc.date.accessioned2023-12-21T20:15:24Z
dc.date.available2023-12-21T20:15:24Z
dc.date.issued2023-08-15
dc.description.abstractThis study proposes using optimum currency areas (OCA) as a theoretical basis for analysis of the full dollarization of Ecuador, viewing the country and the United States as an informal monetary union. At least two facets of this are of interest: (i) the convergence properties of inflation rates between Ecuador and the United States; and (ii) the degree of vulnerability of the Ecuadorian economy to changes in United States monetary policy. Unit roots and stationarity tests are used to study inflation rate convergence, structural vector autoregressive models are used to examine the Ecuadorian economy’s vulnerability to changes in United States economic policy. We find evidence that inflation rates are converging ex-post the full dollarization of Ecuador and that monetary policy changes by the United States do therefore affect Ecuadorian macroeconomic variables. Moreover, we argue that OCA theory is potentially useful for studying fully dollarized economies.
dc.formatTexto
dc.format.extentpáginas 107-125
dc.format.mimetypeapplication/pdf
dc.identifier.unSymbolLC/PUB.2023/15-P
dc.identifier.urihttps://hdl.handle.net/11362/68774
dc.language.isoeng
dc.publisherECLAC
dc.publisher.placeSantiago
dc.relation.isPartOfCEPAL Review
dc.relation.isPartOfNo140
dc.relation.isPartOfSeriesCEPAL Review
dc.relation.translationLanguagespa
dc.relation.translationRecordDolarización plena y uniones monetarias: el caso del Ecuador
dc.relation.translationUrihttps://hdl.handle.net/11362/68547
dc.rights.coarDisponible
dc.subject.unbisEngMONETARY POLICY
dc.subject.unbisEngDOLLAR
dc.subject.unbisEngECONOMIC INTEGRATION
dc.subject.unbisEngMONETARY UNIONS
dc.subject.unbisEngECONOMIC CONDITIONS
dc.subject.unbisEngINFLATION
dc.subject.unbisEngMACROECONOMICS
dc.subject.unbisEngECONOMETRIC MODELS
dc.subject.unbisSpaPOLITICA MONETARIA
dc.subject.unbisSpaDOLAR
dc.subject.unbisSpaINTEGRACION ECONOMICA
dc.subject.unbisSpaUNIONES MONETARIAS
dc.subject.unbisSpaCONDICIONES ECONOMICAS
dc.subject.unbisSpaINFLACION
dc.subject.unbisSpaMACROECONOMIA
dc.subject.unbisSpaMODELOS ECONOMETRICOS
dc.titleFull dollarization versus monetary union: the case of Ecuador
dc.type.coarartículo
dspace.entity.typePublication
relation.isAuthorOfPublicationc66ce93a-dd68-4333-afb7-923c0054d0dd
relation.isAuthorOfPublication0361af19-14ae-4f4d-8266-01f7938a28ae
relation.isAuthorOfPublication.latestForDiscoveryc66ce93a-dd68-4333-afb7-923c0054d0dd
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