Results 341 to 350 of about 927,561 (382)

Optimizing TB policies using the global TB portfolio model: an economic analysis

Satyanarayana S, Mandal S, McQuaid F, Nair S, Sahu S, Menzies NA, Sweeney S, Sanders R, Baena IG, White RG, Adam T, Smit M, Pretorius C.   +12 more
europepmc   +1 more source

Currency Unions

SSRN Electronic Journal, 2019
A currency union is when several independent sovereign nations share a common currency. This has been a recurring phenomenon in monetary history. In this article I study the theoretical foundations of such unions, and discuss some important currency ...
Anders Ögren
semanticscholar   +3 more sources

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Central Bank Digital Currency: Welfare and Policy Implications

Journal of Political Economy, 2022
A model of banking and means of payment is constructed to analyze the effects of the introduction of central bank digital currency (CBDC). That CBDC is interest bearing is not an advantage, as replacement of physical currency with CBDC does not expand ...
Stephen D. Williamson
semanticscholar   +1 more source

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, Juanyi Xu
openaire   +2 more sources

A Closed-Form Solution for Options with Stochastic Volatility with Applications to Bond and Currency Options

, 1993
I use a new technique to derive a closed-form solution for the price of a European call option on an asset with stochastic volatility. The model allows arbitrary correlation between volatility and spot-asset returns. I introduce stochastic interest rates
S. Heston
semanticscholar   +1 more source

Central bank digital currency

The Economics of Cryptocurrencies, 2020
The goal of competing against and replacing central bank fiat money and the banking system, digital currency developed by the private sector, like bitcoin, is intended to have a fixed supply and enable payments.
S. D. Bianco
semanticscholar   +1 more source

Central Bank Digital Currency and Monetary Policy

Journal of Economic Dynamics and Control, 2018
Many central banks are contemplating whether to issue a central bank digital currency (CBDC). A CBDC has certain potential benefits, including the possibility that it can bear interest. However, using a CBDC is costly for agents.
Seyed Mohammadreza Davoodalhosseini
semanticscholar   +1 more source

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
Akihiko Matsui, Akihiko Matsui
openaire   +2 more sources

The Currency Composition of Sovereign Debt

American Economic Journal: Macroeconomics, 2019
We study the currency composition of sovereign debt in emerging economies through the lens of a model in which the government lacks commitment regarding debt and monetary policy.
D. Perez, Pablo Ottonello
semanticscholar   +1 more source

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
openaire   +2 more sources