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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TL;DR: This paper reviewed the recent theoretical literature on collapsing exchange rate regimes using a combination of technique, intuition and realworld observation, and discussed the literature's main insights, point out some unresolved questions and offer suggestions for future research.
Abstract: . This paper reviews the recent theoretical literature on collapsing exchange rate regimes. Using a combination of technique, intuition and realworld observation, we discuss the literature's main insights, point out some unresolved questions and offer suggestions for future research. The survey should be of interest to both specialists and non-specialists in the field of international macroeconomics.
106 citations
Book•
01 Jan 1997TL;DR: In this article, the main themes and data of the monetary history of Italy are discussed, from political unification to 1913: creation of a new currency, multiplicity of banks of issue, banking legislations, monetary systems 4. The First World War: inflation and stabilisation 5. The 1920s and 1930s: foreign exchange policy and industrial and financial restructuring 6.
Abstract: Foreword Preface 1. Structure, main themes and data of the monetary history 2. Money growth and its determinants 3. From political unification to 1913: creation of a new currency, multiplicity of banks of issue, banking legislations, monetary systems 4. The First World War: inflation and stabilisation 5. The 1920s and 1930s: foreign exchange policy and industrial and financial restructuring 6. The Second World War and the 1947 stabilisation 7. The fifties and sixties 8. The seventies 9. Italy in the eighties: towards Central Bank independence 10. Conclusions Bibliography Index of authors Subject Index.
106 citations
Book•
31 Jul 1992
TL;DR: The use of money in a micro-economic perspective is discussed in this paper, where the Hoarding of Currency in the Netherlands is discussed. But the focus is on the Dutch economy.
Abstract: Preface. Introduction. 1. Theory and Empirical Evidence. 2. The Use of Money in a Micro-Economic Perspective. 3. The Hoarding of Currency in the Netherlands. 4. Demand for Currency in an International Perspective. 5. Epilogue. Annex. References. Subject Index.
106 citations
Posted Content•
TL;DR: This paper examined the role that monetary and exchange rate policy may have played in explaining Africa's lagging behind other regions in attracting foreign direct investment (FDI) in some circumstances, such as a high incidence of war.
Abstract: Africa lags behind other regions in attracting foreign direct investment (FDI). In some circumstances, there are obvious explanations for the absence of FDI, such as a high incidence of war. In this paper, we examine the role that monetary and exchange rate policy may have played in explaining this outcome. Specifically, we document the incidence of inflationary episodes and currency crashes in order to compare countries within the region as well as to make comparisons with other regions. Furthermore, since monetary policy can range from very transparent to very opaque, we assess Africa`s track record with dual and parallel markets. We use the parallel market premia as an indicator of the degree of distortions and extent of transparency. Our findings suggest that this is a promising line of inquiry because Africa does stand apart from other regions in this measure of transparency. We also discuss some of the fiscal underpinnings of Africa`s bouts with high inflation.
106 citations
TL;DR: In this paper, the authors investigated whether real estate related securities offer any incremental diversification benefits over foreign stocks using mean-variance analysis together with a multifactor latent variable model and found that the diversification benefit is primarily driven by unanticipated returns which are partially driven by changes in exchange rate risk.
Abstract: International real estate related securities are investigated to see whether they offer any incremental diversification benefits over foreign stocks using mean-variance analysis together with a multifactor latent variable model. Diversification benefits are found to be primarily driven by unanticipated returns which are partially driven by changes in exchange rate risk. Although exchange rate risk accounts for a larger portion of the return fluctuation in real estate related securities relative to common stocks, international real estate securities provide some incremental diversification benefits over common stocks even if currency risks are hedged.
106 citations