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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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Book
01 Jan 1989
TL;DR: The power of the state to issue currency and control the monetary system is so entrenched, and the presumption among economists that money must be supplied monopolistically by a central authority is so widespread, that the notion that money could be supplied competitively has rarely been taken seriously.
Abstract: The power of the state to issue currency and control the monetary system is so entrenched, and the presumption among economists that money must be supplied monopolistically by a central authority is so widespread, that the notion that money could be supplied competitively has rarely been taken seriously. This book boldly challenges the conventional view that the state must play a dominant role in the monetary system. Part I explores the historical evidence and examines how a well-developed monetary system might have developed without any special role for the state. Part II offers a theory for a competitive supply of money and uses it to shed light on the development of monetary theory and the course of monetary history over the past two centuries. In Part III the author outlines new proposals for monetary reform that will protect the financial system against instability and will ensure macroeconomic stability.

96 citations

Journal ArticleDOI
01 Jan 2015
TL;DR: In this article, the authors introduced the main features of Bitcoin and analyzed its price behavior and found out that price of the most famous cryptocurrency Bitcoin follows the hypothesis of efficient markets and it immediately react on publicly announce information.
Abstract: Bitcoin has emerged as phenomenon of the financial markets as the currency without any central authority. Recent events of Bitcoin has risen question about its behavior and there is crucial question if the price of Bitcoin follows hypothesis of efficient markets. In this paper, there are introduced the main features of Bitcoin and analyzed its price behavior. We found out that price of the most famous cryptocurrency Bitcoin follows the hypothesis of efficient markets and it immediately react on publicly announce information. Furthermore, Bitcoin can be seen as standard economic good that is priced by interaction of supply and demand on the market. These factors can be driven by macro financial development or by speculative investors, but there weren?t found any significant impact of these factors on price of Bitcoin.

96 citations

Journal ArticleDOI
TL;DR: In this article, the authors investigated why financial market crises often increase the interdependence between assets associated with different countries, and developed a method for detecting shift-contagion with three notable features.

96 citations

Journal ArticleDOI
TL;DR: The authors examined the relationship between foreign-denominated debt (FDD), foreign currency exposure and foreign currency derivative (FCD) use for a sample of US multinational corporations and found a positive relationship between the exposure to foreign currency risk and the level of FDD, indicating that this debt may be used as a hedge.

96 citations


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Performance
Metrics
No. of papers in the topic in previous years
YearPapers
20244
20231,221
20222,371
2021730
2020944
20191,044