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Author : Stephen H. Thomas
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.X/5 (2 download)
Download or read book Currency Substitution and Vehicle Currencies written by Stephen H. Thomas and published by . This book was released on 1991 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Andrew Hughes Hallett
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (242 download)
Download or read book Currency Substitution and Vehicle Currencies written by Andrew Hughes Hallett and published by . This book was released on 1991 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : S. H. Thomas
Publisher :
ISBN 13 :
Total Pages : 23 pages
Book Rating : 4.:/5 (881 download)
Download or read book Currency substitution and vehicle currencies written by S. H. Thomas and published by . This book was released on 1991 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Philipp Hartmann
Publisher : Cambridge University Press
ISBN 13 : 0521632730
Total Pages : 212 pages
Book Rating : 4.5/5 (216 download)
Download or read book Currency Competition and Foreign Exchange Markets written by Philipp Hartmann and published by Cambridge University Press. This book was released on 1998-12-10 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: Currency Competition and Foreign Exchange Markets by Philipp Hartmann of the European Central Bank is a major theoretical and empirical study of international currencies, which focuses on the role which the Euro will play in the international monetary and financial system along with the US dollar and the Japanese yen. In contrast to much of the existing literature which approaches the subject from a macroeconomic perspective, Philipp Hartmann develops a theoretical model which uses game theory, time series and panel econometrics, and links financial markets analysis with transaction cost economics. The results of Currency Competition and Foreign Exchange Markets are presented with reference to political, historical and institutional considerations, and provide accessible answers to policy-makers, business people and scholars worldwide. The sections on Spread Estimation and Multiple Vehicles with Inter-Dealer Price and Entry Competition will be of particular use for finance professionals.
Author : Kari Heimonen
Publisher :
ISBN 13 :
Total Pages : 248 pages
Book Rating : 4.0/5 ( download)
Download or read book Currency Substitution written by Kari Heimonen and published by . This book was released on 1996 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Yhteenveto.
Author : Alberto Giovannini
Publisher :
ISBN 13 :
Total Pages : 78 pages
Book Rating : 4.:/5 (318 download)
Download or read book Currency Substitution written by Alberto Giovannini and published by . This book was released on 1992 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the extensive theoretical and empirical literature on currency substitution. After discussing the ambiguity surrounding the definition of currency substitution, the paper illustrates the causes of substitutability of different currencies using a cash-in-advance model and a model where money yields liquidity services. The effects of currency substitutability on exchange rates, international adjustment and the inflation tax are discussed. The paper also reviews the empirical facts on the size of currency substitution in developed and developing countries. Whereas currency substitution is found to be sizable in some developing countries and on the rise in the European Community, estimates of the ability to substitute foreign for domestic currency are often found to be unreliable due to data, methodological and conceptual problems. Policy implications of currency substitution for international monetary cooperation and inflationary finance are explored.
Author : Alex Mourmouras
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 50 pages
Book Rating : 4.:/5 (318 download)
Download or read book Smuggling, Currency Substitution and Unofficial Dollarization written by Alex Mourmouras and published by International Monetary Fund. This book was released on 2000-10 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Large quantities of U.S. dollars and other hard currencies circulate alongside domestic currencies in many countries of the former Soviet Union, in Central, Eastern, and Southeastern Europe, the Middle East, Latin America and elsewhere. Over half of all U.S. currency outside banks is located abroad, and the foreign stock of U.S. currency has been growing about 3 times as fast as the domestic stock during the 1990s. Similarly, 30-40 percent of the deutsche marks outstanding are held outside Germany.2 The high degree of unofficial dollarization is one reason some emerging market policymakers sought to go the extra step of officially dollarizing their economies.3
Author : Hélène Rey
Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.X/5 (6 download)
Download or read book International Trade and Currency Exchange written by Hélène Rey and published by . This book was released on 1999 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Nissan Liviatan
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 134 pages
Book Rating : 4.F/5 ( download)
Download or read book Proceedings of a Conference on Currency Substitution and Currency Boards written by Nissan Liviatan and published by World Bank Publications. This book was released on 1993 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt: Eighteen well-known policymakers and economists discuss the rising use of currency substitution in Latin America. They examine the effects of currency boards on substitute currencies and on national stabilization programs. Latin American countries including Argentina, Bolivia, Peru, and Uruguay increasingly use dollars as a substitute for domestic currency. The experts debate whether the region should encourage or resist this trend. Topics include the effects of substitution on inflation, liquidity, and exchange rates. The discussions on Argentina, Peru, and Brazil focus on the ways in which currency boards have affected stabilization in these countries. They consider whether such boards can strengthen fiscal discipline and speed economic adjustment. A currency board issues money that is converted into a foreign reserve currency at a fixed exchange rate. This independent institution takes over the central bank's role as the sole issuer of base money. It also manages the exchange rate to keep the currency stable and convertible.
Author : Diana Brand
Publisher :
ISBN 13 :
Total Pages : 288 pages
Book Rating : 4.3/5 ( download)
Download or read book Currency Substitution in Developing Countries written by Diana Brand and published by . This book was released on 1993 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Alberto Giovannini
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.:/5 (318 download)
Download or read book Currency Substitution and the Fluctuations of Foreign-exchange Reserves with Credibly Fixed Exchange Rates written by Alberto Giovannini and published by . This book was released on 1991 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the fluctuations of foreign exchange reserves under a regime of credibly fixed exchange rates. The paper considers a variety of assumptions on the determinants of money demand and currency substitution.
Author : P. Hartmann
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (535 download)
Download or read book Vehicle Currencies in the Foreign Exchange Market written by P. Hartmann and published by . This book was released on 1994 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Camila Casas
Publisher : International Monetary Fund
ISBN 13 : 1484330609
Total Pages : 62 pages
Book Rating : 4.4/5 (843 download)
Download or read book Dominant Currency Paradigm: A New Model for Small Open Economies written by Camila Casas and published by International Monetary Fund. This book was released on 2017-11-22 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most trade is invoiced in very few currencies. Despite this, the Mundell-Fleming benchmark and its variants focus on pricing in the producer’s currency or in local currency. We model instead a ‘dominant currency paradigm’ for small open economies characterized by three features: pricing in a dominant currency; pricing complementarities, and imported input use in production. Under this paradigm: (a) the terms-of-trade is stable; (b) dominant currency exchange rate pass-through into export and import prices is high regardless of destination or origin of goods; (c) exchange rate pass-through of non-dominant currencies is small; (d) expenditure switching occurs mostly via imports, driven by the dollar exchange rate while exports respond weakly, if at all; (e) strengthening of the dominant currency relative to non-dominant ones can negatively impact global trade; (f) optimal monetary policy targets deviations from the law of one price arising from dominant currency fluctuations, in addition to the inflation and output gap. Using data from Colombia we document strong support for the dominant currency paradigm.
Author : Mr.Tobias Adrian
Publisher : International Monetary Fund
ISBN 13 : 1498324908
Total Pages : 20 pages
Book Rating : 4.4/5 (983 download)
Download or read book The Rise of Digital Money written by Mr.Tobias Adrian and published by International Monetary Fund. This book was released on 2019-07-15 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper marks the launch of a new IMF series, Fintech Notes. Building on years of IMF staff work, it will explore pressing topics in the digital economy and be issued periodically. The series will carry work by IMF staff and will seek to provide insight into the intersection of technology and the global economy. The Rise of Digital Money analyses how technology companies are stepping up competition to large banks and credit card companies. Digital forms of money are increasingly in the wallets of consumers as well as in the minds of policymakers. Cash and bank deposits are battling with so-called e-money, electronically stored monetary value denominated in, and pegged to, a currency like the euro or the dollar. This paper identifies the benefits and risks and highlights regulatory issues that are likely to emerge with a broader adoption of stablecoins. The paper also highlights the risks associated with e-money: potential creation of new monopolies; threats to weaker currencies; concerns about consumer protection and financial stability; and the risk of fostering illegal activities, among others.
Author : Mr.Pablo Emilio Guidotti
Publisher : International Monetary Fund
ISBN 13 : 1451941358
Total Pages : 32 pages
Book Rating : 4.4/5 (519 download)
Download or read book Dollarization in Latin America written by Mr.Pablo Emilio Guidotti and published by International Monetary Fund. This book was released on 1991-11-01 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.
Author : John J. Seater
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book The Demand for Currency Substitution written by John J. Seater and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A transactions model of the demand for multiple media of exchange is developed and applied to the study of currency substitution. The analysis provides a theoretical foundation for results reported in the empirical literature. Some results are expected, such as the dependence of currency substitution on the rates of return on the various currencies. Other results are both new and surprising. There are both extensive and intensive margins to currency substitution, and inflation may affect the two margins differently, leading to subtle incentives to adopt or abandon a substitute currency. Also, variables not previously considered in the literature affect currency substitution in complex and somewhat unexpected ways. In particular, the level of income and the composition of consumption expenditures are important, and they interact with the other variables in the model. The theory gives guidance on what data needs to be collected to conduct tests of the derived implications.
Author : Ronald MacDonald
Publisher : Routledge
ISBN 13 : 1134838220
Total Pages : 334 pages
Book Rating : 4.1/5 (348 download)
Download or read book Exchange Rate Economics written by Ronald MacDonald and published by Routledge. This book was released on 2005 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: ''In summary, the book is valuable as a textbook both at the advanced undergraduate level and at the graduate level. It is also very useful for the economist who wants to be brought up-to-date on theoretical and empirical research on exchange rate behaviour.'' ""Journal of International Economics""
