Euroisation in Albania: From Spontaneous to Consensual

By: Luci, Erjon.

Contributor(s): Muco, Marta | Sojli, Elvira.

Material type: materialTypeLabel

BookSeries: wiiw Balkan Observatory Working Papers: 71Publisher: Wien : Wiener Institut für Internationale Wirtschaftsvergleiche (wiiw), 2006Subject(s): euroisation | foreign currency in circulation | AlbaniaCountries covered: AlbaniaOnline resources: Click here to access online Summary: In this paper, we present a new estimation of the euroisation level of the Albanian economy taking into account both foreign deposits and foreign currency in circulation. We implement a recent novel methodology to calculate foreign currency in circulation. It is found that the overall level of euroisation including this often unaccounted measure is approximately 45 percent of total money. We also try to investigate some of the implications the re-estimated level of euroisation has on the actual monetary policy and the future path towards EMU.

Holdings
Item type	Current library	Call number	Status	Date due	Barcode
Paper	WIIW Library	71 (Browse shelf(Opens below))	Available		1000010003232

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In this paper, we present a new estimation of the euroisation level of the Albanian economy taking into account both foreign deposits and foreign currency in circulation. We implement a recent novel methodology to calculate foreign currency in circulation. It is found that the overall level of euroisation including this often unaccounted measure is approximately 45 percent of total money. We also try to investigate some of the implications the re-estimated level of euroisation has on the actual monetary policy and the future path towards EMU.

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