hohenheimer diskussionsbeiträge
... In the second generation models of currency crises attention therefore shifted to how changes in expectations cause crises. The key point is that these models question the view of a single correct equilibrium. Instead, different outcomes can result, depending on economic agents’ expectations (see, e ...
... In the second generation models of currency crises attention therefore shifted to how changes in expectations cause crises. The key point is that these models question the view of a single correct equilibrium. Instead, different outcomes can result, depending on economic agents’ expectations (see, e ...
Political Economy in Macroeconomics
... depreciation. The real exchange rate implications of high inflation thus change the governments' incentives to inflate. One interesting aspect of the analysis is that it gives a specific real-world structure to the question of institutional commitment first raised in Chapter 5. The specific structur ...
... depreciation. The real exchange rate implications of high inflation thus change the governments' incentives to inflate. One interesting aspect of the analysis is that it gives a specific real-world structure to the question of institutional commitment first raised in Chapter 5. The specific structur ...
Technical Trading-Rule Profitability, Data Snooping, and Reality
... Levich and Thomas (1993) demonstrate based on bootstrap re-sampling that some filter and moving average rules may be significantly profitable even after adjusting for risk.2 The significant profitability documented in these studies is often interpreted as evidence against market efficiency.3 However ...
... Levich and Thomas (1993) demonstrate based on bootstrap re-sampling that some filter and moving average rules may be significantly profitable even after adjusting for risk.2 The significant profitability documented in these studies is often interpreted as evidence against market efficiency.3 However ...
international money transfer service is provided by bpn in
... BPN, Western Union and its Partners do not act as representatives of any bank for any purpose and do not accept deposits on behalf of any bank. For details please call the number indicated in Clause 16 below. 4. Money transfers will normally be paid in cash, but some Partners will pay by cheque or a ...
... BPN, Western Union and its Partners do not act as representatives of any bank for any purpose and do not accept deposits on behalf of any bank. For details please call the number indicated in Clause 16 below. 4. Money transfers will normally be paid in cash, but some Partners will pay by cheque or a ...
On floating exchange rates, currency depreciation and effective
... In mainstream economics, wage and price flexibility and freely floating exchange rates are essentially conceived of as competing mechanisms for achieving full employment and optimal allocation of factors of production. ...
... In mainstream economics, wage and price flexibility and freely floating exchange rates are essentially conceived of as competing mechanisms for achieving full employment and optimal allocation of factors of production. ...
nafta toward a common currency: an economic feasibility study
... The recent emergence of the Euro, the common currency of several European countries, has sparked interest in monetary union amongst Canada, Mexico, and the United States. The Euro has given the United States an incentive towards a common currency as it has become a rival to the U.S. dollar’s market ...
... The recent emergence of the Euro, the common currency of several European countries, has sparked interest in monetary union amongst Canada, Mexico, and the United States. The Euro has given the United States an incentive towards a common currency as it has become a rival to the U.S. dollar’s market ...
Gold, the renminbi and the multi
... the vacuum created by the evident failings of the dollar and the euro, and the not-yetrequited ambitions of the renminbi. Much needs to be done, of course, to prepare the Chinese currency for reserve status. This could take years, and there could be setbacks. The danger of perturbations along the wa ...
... the vacuum created by the evident failings of the dollar and the euro, and the not-yetrequited ambitions of the renminbi. Much needs to be done, of course, to prepare the Chinese currency for reserve status. This could take years, and there could be setbacks. The danger of perturbations along the wa ...
Modern Currency Wars: The United States versus Japan
... In the currency wars of the 1920s and 1930s, various nations fell off the gold standard and in so doing experienced deep devaluations. But under the postwar dollar standard, the central position of the US was key to maintaining the peace, until the Bretton Woods system of fixed dollar exchange parit ...
... In the currency wars of the 1920s and 1930s, various nations fell off the gold standard and in so doing experienced deep devaluations. But under the postwar dollar standard, the central position of the US was key to maintaining the peace, until the Bretton Woods system of fixed dollar exchange parit ...
CESifo Working Paper no. 3164
... century (Roses and Wolf 2010). An apt example to illustrate the consequences of the war is the decline of the City of London as the world’s leading financial centre and the rise of New York (Cassis 2006, Cochrane 2009). However, this economic (and political) decline was far from unavoidable. Europe ...
... century (Roses and Wolf 2010). An apt example to illustrate the consequences of the war is the decline of the City of London as the world’s leading financial centre and the rise of New York (Cassis 2006, Cochrane 2009). However, this economic (and political) decline was far from unavoidable. Europe ...
Do High Interest Rates Stem Capital Outflows?
... confidence when short-term rates are pushed to dozens of percent... The more these economies tried to defend their currencies, the more they incited panic.” The implication ofthis argument is that higher rates can exacerbate problems associated with currency depreciation and capital outflows. Others ...
... confidence when short-term rates are pushed to dozens of percent... The more these economies tried to defend their currencies, the more they incited panic.” The implication ofthis argument is that higher rates can exacerbate problems associated with currency depreciation and capital outflows. Others ...
Currency
A currency (from Middle English: curraunt, ""in circulation"", from Latin: currens, -entis) in the most specific use of the word refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins. A more general definition is that a currency is a system of money (monetary units) in common use, especially in a nation. Under this definition, British pounds, U.S. dollars, and European euros are examples of currency. These various currencies are stores of value, and are traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are defined by governments, and each type has limited boundaries of acceptance.Other definitions of the term ""currency"" are discussed in their respective synonymous articles banknote, coin, and money. The latter definition, pertaining to the currency systems of nations, is the topic of this article. Currencies can be classified into two monetary systems: fiat money and commodity money, depending on what guarantees the value (the economy at large vs. the government's physical metal reserves). Some currencies are legal tender in certain jurisdictions, which means they cannot be refused as payment for debt. Others are simply traded for their economic value. Digital currency arose with the popularity of computers and the Internet.