Topic
Currency
About: Currency is a research topic. Over the lifetime, 26697 publications have been published within this topic receiving 485370 citations. The topic is also known as: monetary unit & unit of money.
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Patent•
07 Jul 1986
TL;DR: In this paper, a sorting and stacking apparatus has a currency note feeding section for feeding currency notes one at a time; and a currency check inspecting section for inspecting the denomination of a note, a normal note, damaged note, an obverse-presented note, and a reverse presented note.
Abstract: A sorting and stacking apparatus has a currency note feeding section for feeding currency notes one at a time; and a currency note inspecting section for inspecting the denomination of a currency note, a normal note, a damaged note, an obverse-presented note and a reverse-presented note. The currency notes of a predetermined denomination among the currency notes fed by the currency note feeding section are fed to a first stacking section having first and second pockets while currency notes of other denominations are fed to the second stacking section. When the first pocket of the first stacking section is filled with the currency notes, the transport path of the currency note is automatically switched toward the second pocket. Subsequent currency notes are thus stacked in the second pocket of the first stacking section.
109 citations
TL;DR: In this article, public opinion surveys conducted in the member states of the European Union have been used to provide a systematic understanding of public support for the EMU project and European-level monetary policy authority.
Abstract: Using public opinion surveys conducted in the member states of the European Union, this paper seeks to provide a systematic understanding of public support for the EMU project and European-level monetary policy authority. We develop models of support for EU monetary policy that incorporate a utilitarian component and elements of multilevel governance that is emerging within the EU.These models are tested at the aggregate level of survey respondents. The results show that variations in attitudes to the common currency are driven by collectively-based considerations of the costs and benefits associated with the common currency project as well as the interaction of European-level politics and the domestic politics of the member states.
109 citations
TL;DR: The authors developed a model in which governments' financing needs exceed the socially optimal level because public resources are diverted to serve the narrow interests of the group in power, and calibrated the model to data for West Africa and use it to assess proposed ECOWAS monetary unions.
Abstract: We develop a model in which governments' financing needs exceed the socially optimal level because public resources are diverted to serve the narrow interests of the group in power. From a social welfare perspective, this results in undue pressure on the central bank to extract seigniorage. Monetary policy also suffers from an expansive bias, owing to the authorities' inability to precommit to price stability. Such a conjecture about the fiscal-monetary policy mix appears quite relevant in Africa, with deep implications for the incentives of fiscally heterogeneous countries to form a currency union. We calibrate the model to data for West Africa and use it to assess proposed ECOWAS monetary unions. Fiscal heterogeneity indeed appears crit- ical in shaping regional currency blocs that would be mutually beneficial for all their members. In particular, Nigeria's membership in the configurations currently envisaged would not be in the interests of other ECOWAS countries unless it were accompanied by effective containment on Nigeria's financing needs. JEL classification: E58, E61, E62, F33
109 citations
Journal Article•
TL;DR: The authors examines new ideas on using intervention to achieve desired currency values and what the impact of a major dollar realignment would be on economies around the world, including the United States and other countries.
Abstract: The dollar rose by about 35 percent in real terms from 1995 through the end of 2001, supporting the booming US economy of the late 1990s but pushing the current account deficit to a record high. Dollar Adjustment: How Far? Against What? looks at this problem and its impact on the United States and other countries. The book examines new ideas on using intervention to achieve desired currency values and what the impact of a major dollar realignment would be on economies around the world. The book contains perspectives from around the world
108 citations
TL;DR: The question addressed in this article is whether the gap in performance between the developed and developing worlds can continue, and in particular, whether developing nations can sustain the rapid growth they have experienced of late.
Abstract: The question addressed in this paper is whether the gap in performance between the developed and developing worlds can continue, and in particular, whether developing nations can sustain the rapid growth they have experienced of late. The good news is that growth in the developing world should depend not on growth in the advanced economies themselves, but on the difference in the productivity levels of the two groups of countries - on the "convergence gap" - which remains quite large. Yet much of this convergence potential is likely to go to waste. Convergence is anything but automatic, and depends on sustaining rapid structural change in the direction of tradables such as manufacturing and modern services. The policies that successful countries have used to achieve this are hard to emulate. Moreover, these policies - such as currency undervaluation and industrial policies - will meet greater resistance on the part of industrial countries struggling with stagnant economies and high unemployment.
108 citations