Currency substitution: a numerical dynamic programming approach

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buir.advisorBaşçı, Erdem
dc.contributor.authorVolkan, Engin
dc.date.accessioned2016-01-08T20:19:14Z
dc.date.available2016-01-08T20:19:14Z
dc.date.issued1998
dc.departmentDepartment of Economicsen_US
dc.descriptionAnkara : Department of Economics and the Institute of Economics and Social Sciences of Bilkent University, 1998.en_US
dc.descriptionThesis(Master's) -- Bilkent University, 1998.en_US
dc.descriptionIncludes bibliographical references leaves 24-26.en_US
dc.description.abstractThis thesis conducts a theoretical study on currency substitution in an infinitelylived small open financially repressed economy which is subject to stochastic inflation shocks. For this purpose, a dynamic programming model is constructed under the assumption that purchasing power parity holds. The solution of the model through value function iteration shows that under high inflation, and financial repression, the inhibitants of an economy will demand foreign currency to the extend that it provides a better protection of their wealth against inflation.en_US
dc.description.degreeM.A.en_US
dc.description.statementofresponsibilityVolkan, Enginen_US
dc.format.extentix, 67 leavesen_US
dc.identifier.urihttp://hdl.handle.net/11693/18434
dc.language.isoEnglishen_US
dc.publisherBilkent Universityen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectCurrency substitutionen_US
dc.subjectBellman’s equationen_US
dc.subjectValue function iterationen_US
dc.subjectCash-in-advanceen_US
dc.subjectTransaction costsen_US
dc.subject.lccHG3823 .V65 1998en_US
dc.subject.lcshCurrency substitution--Mathematical models.en_US
dc.titleCurrency substitution: a numerical dynamic programming approachen_US
dc.typeThesisen_US

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