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The Optimal Currency Basket with Input Currency and Output Currency [PDF]

SSRN Electronic Journal, 2008
This paper explores the determination of the optimal currency basket in a small open economy general equilibrium model with sticky prices. In contrast to traditional literature, we focus on an economy with vertical trade, where one currency is used as the invoicing currency of imported intermediate goods and is called the \input currency", while the ...
Kang Shi, Juanyi Xu
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Currency futures and currency crises [PDF]

, 2004
Since financial derivatives are key instruments for risk taking as well as risk reduction, it is only straightforward to examine their role in currency crises. This paper addresses this issue by investigating the impact of currency futures trading on the underlying exchange rates.
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Complementary Currencies

2018
Recent decades have witnessed the proliferation of monetary instruments that differ, in many respects, from the official currency issued by the central bank and by the regulated banking system, such as local currencies, corporate barter, and mutual credit systems.
Amato, Massimo, Fantacci, Luca
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Strong Currency and Weak Currency

Journal of the Japanese and International Economies, 1998
Abstract This paper presents a two-country model in which two currencies compete with each other. There exists an equilibrium in which the two currencies with different rates of inflation circulate as media of exchange despite neither currency being required to be used for transactions. Taxes payable in local currency and asymmetric injection of fiat
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Two-Currency, Three-Currency and Multi-Currency Arbitrage

2003
Arbitrage is generally defined as capitalising on a discrepancy in quoted prices, triggered by the violation of an equilibrium (pricing) condition. It is often the case that arbitrage is portrayed to be a riskless operation, in the sense that all of the decision variables are known when the decision is made, but the process invariably involves risk ...
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Currency Flows and Currency Crises

CESifo Economic Studies, 2017
According to the most common understanding, currency crises are always and everywhere a monetary phenomenon. Based on a formal theoretical model and ample empirical evidence, this article argues instead that currency crises are always and everywhere about external imbalances.
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The Currency of Mythology

Journal of the American Academy of Psychoanalysis, 2001
*Assistant Clinical Professor of Psychiatry, Dept. of Child Psychiatry, Mount Sinai Medical School; and Adjunct Assistant Clinical Professor of Psychiatry, Cornell Medical Center. Versions of this paper were originally given at the William Alanson White Institute on January 19, 2000 and at the American Academy of Psychoanalysis conference in Chicago on
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Currency Substitution and Currency Crises

Journal of Economics and Management, 2007
This paper investigates the relationship between the collapse timing of exchange rate regime and degree of substitutability of foreign currency for domestic currency as a medium of exchange. According to the spirit of Chen et al. (1981), Tsaur (1987), Chang et al.
Yu-Fong Sun, Tien-Wang Tsaur
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Currency Consolidation and Currency Unions

2011
In outlining the ‘tripolar’ options for exchange rate regimes in Chapter 3 we foreshadowed that we would consider controversies over the third polar option — the currency union, including full monetary union — in this chapter. Arguments for the widespread adoption of a common currency, or even a universal global currency, all turn on the idea of ...
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