A conceptual analysis of the Currency Protected Deposit (CPD) scheme as a macro-financial stabilization instrument: Evidence from the depreciation–interest rate spiral
This article examines the Currency Protected Deposit (CPD) scheme, introduced in December 2021, from the perspective of open economy macroeconomics. Rather than measuring the empirical performance of CPD, the analysis focuses on how the mechanism fits into the depreciation–interest rate dynamic and its implications for...