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A problem that households in the developing world often face is how to safely store their assets when the value of their local currency is volatile and is prone to depreciation during bad times, which in turn has important implications for dollarization and economic policy. In the paper Aleksandr Shirkhanyan (Central Bank of Armenia, co-authors: Diego Jimenez-Hernandez and Joshua J. Kim (both Stanford University) analyzed how households make such savings decisions following a large currency depreciation in Armenia. For detailed information click here. |
